Social Security Direct Deposits: Overview, Eligibility Requirements, And Schedule

The recipients will get two Social Security Direct Deposits, which will comprise a double payout for them. If a Social Security claimant is with disability, they will receive a double payout. Beneficiaries receiving SSI, SSDI, VA, and Senior benefits will now receive two payments straight to their bank accounts.

Social Security Direct Deposits
Social Security Direct Deposits; Source- Forbes

Overview

The Social Security Administration is a federal agency that provides financial assistance to eligible persons to help them sustain their families. Citizens get benefits in the form of a fixed income, which is a monthly payment from Social Security.

Clearly, individuals who are retirees and have a disability or have blindness are eligible for Supplemental Security Income. Thus the citizens will receive SSI payment on the first of each month.

Citizens receive retirement benefits, and they may be surprised to learn that they will receive two SSI payments this month. Hence, there is also a stimulus check payment that eligible beneficiaries will receive.

Also, this payout will be $2600 and $1900, a one-time benefit for all income payers. The SSI payment for single taxpayers is $943, while married couples receive $1415.

Two Social Security Direct Deposits

Every month, the beneficiaries receive five payments in their Social Security names. The beneficiaries will now get six instalments in May 2024, with one advance payment scheduled for June 2024.

However, due to the advance payment, the beneficiaries will receive SSI payments on the first and last day of May 2024. These are the two direct payments that will be distributed to citizens.

Eligibility Requirements

  • First, the beneficiaries who live in the US will get the direct payments.
  • Next, the beneficiary age shall not fall under 65 years
  • Then, the beneficiary shall meet the necessary income criteria.
  • Lastly, the Social Security Number shall be there with the beneficiaries.

Schedule

Particulars  Date 
SSI for beneficiaries who born after May 1997 1 May 2024
SSI for beneficiaries claiming before 1997 3 May 2024
Social Security Payment for birth date between 1 and 10 8 May 2024
Social Security  Payment for birth date between 11 and 20 15 May 2024
Social Security Payment for birth date between 21 and 31 22 May 2024
SSI for June 2024 31 May 2024

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