The timeliness of United States Social Security payments is a great advantage for retirees. In addition, because it is easy to know the day on which payments are sent, household organization is easier. When the household economy depends only on Social Security, it is a good idea to keep under control the day on which we receive the payment. Therefore, both age and disability retirees can know exactly the day they receive their Social Security. And that is a great advantage.
Despite this, it is well true that it is not the day on which retirees receive their Social Security payment. What we see on the calendar is actually the day on which the Social Security Administration sends the money to the beneficiaries. The day they receive it depends on the collection method they choose. There are basically two methods of collecting Social Security and both have their advantages and disadvantages. But first of all we have to know who will receive the next of the Social Security payments, as it is the important date for many retirees.
Next November 23rd is the day when the Social Security will send the last check with the last payment of the month. This payment belongs to the last of the retiree groups. This means that those who were born between the 21st and 31st of the month will be able to enjoy this payment very soon. However, it is not possible to receive the payment directly in these cases, unless you have activated Direct Deposit, which is the fastest way to receive any payment from Social Security.
What is the fastest way to get Social Security?
There are two main methods for receiving Social Security payments. The first of these methods is the classic bank account method. This method is accessible to the vast majority of Americans because almost everyone can use it. The main disadvantage of using this form of payment is that it can take up to 3 days to appear in the bank account.
On the other hand, there is a method called Direct Deposit. This method has several very good features for collecting Social Security:
- Fast. Receive your retirement immediately thanks to this method.
- You do not need a bank account. Therefore, you don’t have to worry about having one.
- You can use it like a regular debit card. So you can pay your bills, your purchases and anything else you need.
It is easy to create a Direct Deposit account and its speed is essential to have a good financial organization. If we choose the bank account, we will have to wait up to 3 days to be able to use our pension money.