| In this article about Social Security Direct Deposit I | | | | the schedule. If you were born on or between the |
| cover the five most asked questions. | | | | 1st and 10th your payment is sent on the second |
| 1. Do you have to receive your payments by direct | | | | Wednesday of the month. Payments for those born |
| deposit? | | | | on or between the 11th and 20th are sent on the |
| 2. When will my benefits be deposited? | | | | third Wednesday. Payments for those born on or |
| 3. Why not just receive a check in the mail? | | | | between the 20th and 31st days of the month are |
| 4. How can I sign up for direct deposit? | | | | sent on the fourth Wednesday. |
| 5. What can I do if I don't have a bank account and | | | | 3. Why not just receive a check in the mail? |
| don't want one for direct deposit of my payment? | | | | There are some good reason to receive your |
| 1. Do you have to receive your payments by direct | | | | payment by direct deposit. Don't you just hate |
| deposit? | | | | waiting in a line? I know that I do and long lines make |
| The short answer is NO! The Social Security | | | | my feet hurt. |
| Administration strongly suggests everyone get their | | | | Celebrate! No more standing in line to cash your |
| monthly payments this way. The three main reasons | | | | check when it finally arrives in the mail. Your money |
| given for using this service are safety, convenience | | | | goes immediately into your account. You do not have |
| and speed. There is also a financial benefit to the | | | | to get out of your house in bad weather or be |
| government. It costs almost one dollar each month | | | | concerned if you're on holiday or away from home. |
| to send a paper check but only a few cents to send | | | | You do not have to bear any more check cashing |
| the payment electronically. At last count in January | | | | fees. Your money is in your account ready to use |
| 2007, 80 percent of all Social Security and SSI | | | | the day you receive your deposit. |
| beneficiaries had their payments delivered directly to | | | | 4. How can I sign up for direct deposit? |
| their bank account. You are still able to get your | | | | It's actually fairly easy to get signed up if you already |
| payment by check, but you ought to think about the | | | | have a bank account. Just go to your bank, savings |
| numerous benefits direct deposit provides. | | | | and loan or credit union. They can answer your |
| 2. When will my benefits be deposited? | | | | questions about direct deposit. |
| The payments of benefits have long been fixed and | | | | If you do not have an account, look into opening one |
| are determined by the day of the month of your | | | | and sign up for direct deposit. Nearly all banks, |
| birth. Payments for all those receiving Social Security | | | | savings and loans and credit unions provide an |
| before May 1977 are made on the third of each | | | | assortment of accounts, some with little or no fees. |
| month regardless of when you were born. After May | | | | Look for one that meets your needs. |
| 1977, the payment dates were changed and from | | | | 5. What can I do if I don't have a bank account and |
| that point on are determined as follows. For | | | | don't want one for direct deposit of my payment? |
| everyone receiving benefits after April 1997 this is | | | | |