The October 3 payment will only be for 2 groups of recipients. Those who receive Social Security (retirement or SSDI) and Supplemental Security Income (SSI) qualify for a check on the third. But not just them. Also, those who started getting benefits before May 1997.
Thus, if you are not in that situation, you will need to wait longer than these 2 groups for your Social Security payment. In fact, the first Wednesday payment will not arrive in the recipient’s bank accounts until October 9, 2024.
First round of Social Security payments on Wednesdays – eligibility
To be eligible for the Wednesday payments, you cannot be receiving SSI and you cannot have gotten benefits before May 1997. What is more, applying and approval is mandatory. Those who have never applied for Social Security cannot qualify.
However, what is distinctive about this payment is the fact that it is only for those eligible recipients whose birthday is from the first to the tenth of any month.
If you do not qualify and the only reason is your birthday, do not worry. There will 2 more rounds of Wednesday payments. The second round will be due on October 16 (birthday from 11-20) and October 23 (birthday from 21-31).
Wednesday payment amounts for Social Security
Bear in mind that both retirees and SSDI recipients can receive money from Social Security on October 3, 9, 16, and 23. However, retirees’ payments tend to be higher on average.
For example, a retiree receives about $1,920 on average as of August 2024. While SSDI recipients get an average check worth $1,539. The largest payment for SSDI will be worth $3,822. This is the largest check too at Full Retirement Age.
Nevertheless, retirees can receive from Social Security up to $4,873 if they meet the following requirements:
- have worked for a minimum of 35 years
- had jobs covered by Social Security
- applied for retirement benefits
- filed at 70
- earned the contribution and benefit base for at least 35 years too
