Sometimes you do not have enough money, you cannot make ends meet and your Social Security payment is always late in the month. If you are older than 62 and on retirement benefits, you are probably in the same boat.
Therefore, you might have wondered whether you can change the payday Social Security has given you. According to the Administration, there are 5 different payments every month.
The first one is for those on Supplemental Security Income and it is usually on the first day of the month. The second is for those on Social Security before May 1997 and it is on the third of the month.
What happens when my Social Security payment is on a holiday or at the weekend?
If any of your payments are not on a business day, the Social Security Administration will send it in advance. Of course, they will always send it on the previous business day when the payment is due.
For example, there is one clear example if you are on Supplemental Security Income. The January 1 payment, on New Year, will arrive on December 29. In order to avoid the holiday, it is sent on the previous business day to avoid any sort of delays or problems.
Remember that banks do not open on those days, so you could not make any complaints if you did not receive your money on time. Usually, there are no delays and Social Security checks arrive when they are due if you have requested direct deposit.
Going back to the remaining payments after the one on the 3rd day of the month, there are three more paydays on the second, third, and fourth Wednesday of the month. These payments will depend on your birthday. The earlier your birth date is in the month, the sooner you will get your payment.
Can I change my Social Security payment date if I am not happy with it?
No, you can’t. For example, if you collect your payment on the fourth Wednesday of the month, you cannot change it. Even if the date may not be suitable for you, you will have to accept it. But perhaps there is something you could do about it.
Try to look for a bank or financial institution that is designed for seniors on benefits. In this way, they may have some offers to help you get your money even up to five days early before your payment arrives every month.
Some of them claim that there are no fees or interest. Anyway, try to stick to a monthly budget and save money. By doing so you can have an emergency fund that can help you afford unexpected expenses. If your Social Security is late, call your bank. Wait for three mailing days and then contact SSA.
