In any of the United States, Social Security beneficiaries who have access to Supplemental Security Income (SSI) could receive their new cheque in just a few hours. And since the first Social Security cheque in 2023, all payments have an 8.7% increase due to COLA and this SSI does as well.
This new Social Security SSI cheque is for the month of February. Like every month, the Social Security Administration sends out a cheque on the 1st of the month. This is the case with certain exceptions, as there are months when these days are weekends or holidays.
When this situation occurs, the Social Security Administration sends out the SSI cheque on the immediately preceding business day. In the case of February, there is no irregularity in the calendar. Therefore, the SSI cheque will arrive on the 1st of the month for millions of people who meet 1 single requirement. Will you get your cheque on February 1st?
Who gets the SSI cheque on February 1?
In order to receive this Social Security cheque on February 1st, there is only one requirement, as we have already mentioned. This requirement is to have Direct Deposit activated. This collection method is the fastest and most efficient of all, since it is totally immediate.
So if you activate Direct Deposit, you can have your Social Security SSI cheque directly in your pocket the same day it is sent by the Social Security Administration. However, there’s nothing to worry about, because if you don’t have Direct Deposit activated, you can still get your SSI cheque.
Receiving SSI without Direct Deposit
The other method of collecting your SSI payment is by bank deposit. The only downside to this method is that it can take up to 3 days for the money to show up. And we are talking about working days, so weekends would not be included, at least in most cases.
And that is why if we cash the SSI cheque by bank deposit it is very likely that we will not have the money available until the following Monday. So many users should be prepared to receive payment on the 5th or 6th day of February. Even so, either payment method is totally reliable. So we will receive both SSI and any other Social Security payment without any problems.
The final choice of collection method is entirely personal and each citizen chooses the one he/she likes the most. What we must keep in mind is that one of the methods is slower than the other. But we can sleep easy because no matter which collection method we choose to receive our SSI. At the end we will have in our pocket the cheque with the amount that corresponds to us.