If you live in the United States and cash a Social Security check, chances are you’ve heard of Direct Deposit. This method of collecting Social Security payments is becoming increasingly popular for one simple reason.
Despite what many retirees think, it is not currently possible to request a physical Social Security check. This means that we cannot receive our benefit in the mailbox, as was the case many years ago. While it is true that many retirees still receive their payment this way, it is not the norm.
There are two main options for cashing a Social Security check. On the one hand we have the deposit into a bank account and on the other hand Direct Deposit. Both methods are perfect for cashing the check, as they are very secure. However, Direct Deposit offers a great advantage over bank deposit. Do you know what that advantage is?
Advantages of cashing your Social Security check with Direct Deposit
If cashing your Social Security check through a bank account means waiting up to 3 days, there is no such wait with Direct Deposit. In this regard, Direct Deposit is totally unbeatable. This cashing system is immediate. Therefore, as soon as Social Security sends the new check, the beneficiary can have the money to use for whatever he or she needs.
This does not make it the only method available, as collecting Social Security by bank deposit is also possible. In addition, both methods are safe and effective. The immediacy alone makes Direct Deposit much more useful.
When does the SSA send retirement checks?
The days on which the Social Security Administration sends checks to retirees with a benefit are repeated every month. This way, retirees can find out what day they will cash their check just by looking at the calendar. These are the usual payment days:
- 2nd Wednesday of the month. Payment for retirees born between the 1st and 10th.
- 3rd Wednesday of the month. Social Security pays check for pensioners born between the 11th and 20th of the month.
- 4th Wednesday of the month. Pensioners born between the 21st and 31st of the month collect their benefit check.
Therefore, in the month of February those checks are sent on the 8th, which is today, 15th and 22nd. This scheme is repeated every month, so it is easy to know when we will receive our money. It is important to note that it is not necessary for a retiree to have been born in the current month in order to cash that month’s check.