Not having a bank account can be something temporary or a life-long decision. The Social Security Administration can send you a direct deposit but only if you have one.
As you must receive your payments electronically, you can get a prepaid debit card. For example, there are two prepaid credit cards you can use, says Social Security.
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In fact, you can choose either a Direct Express card or a Debit MasterCard. As long as you have one of these two options, you can get your Social Security by direct deposit every month.
WHEN WILL I GET MY SOCIAL SECURITY PAYMENT IF I JOIN THE DIRECT EXPRESS PROGRAM?
The Social Security Administration states that your payment will be on your card on your payment date. Remember that there are usually four paydays for retirees and SSDI recipients.
For example, if you received benefits before May 1997, your next payment day will be on the 3rd. Those on SSI and Social Security get it on the 3rd as well.
Retirees whose birthdays are from 1-10 and who started getting benefits after April 30, 1997, will collect them on the second Wednesday of the month. But if your birthday is from 11-20, your payday will be on the third Wednesday of the month. Or on the fourth if it is from 21-31.
WHAT CAN I USE THE DIRECT EXPRESS CARD FOR?
Social Security informs citizens of the different things they can do with this credit card once they get a direct deposit. Of course, you can pay bills, make purchases online or in person, and withdraw money from an ATM.
One of the disadvantages is that there might be fees for some transactions. So, that is important if you are flat broke. There is no point in wasting money on fees if you are on a shoestring budget.
Direct Express is a much better option than paper checks. SSI beneficiaries can also get Direct Express cards. Forget about delays in the mail, or lost and stolen checks.