Curious thing about April's Social Security Direct Deposit

[FiveDriver]

I get a Direct Deposit from my rich Uncle Sam on the 2nd Wednesday of each month. My local TD Bank usually holds this Deposit as 'Pending' for a day and that's no problem.

I typically check in on a Wednesday afternoon to verify that the Deposit hasn't bounced for Insufficient Funds.

Today I note that the Direct Deposit arrived on Monday 4/8 and has been posted.

Has anybody else ever received their 'Entitlement Check' a few days early ??

I'm just curious, I guess.

 

[Midpack]

Has anybody else ever received their 'Entitlement Check' a few days early ??

 

[latexman]

DW's SS deposit scheduled for the 4th Wednesday of every month arrives at our CU checking account on the night of the 4th Monday of every month at about 11 p.m.

 

[REWahoo]

I've been getting my 2nd Wednesday of the month SS deposit on the 2nd Monday for a year or so.

 

[Teacher Terry]

Mine doesn’t arrive until Wednesday.

 

[MissMolly]

Mine is supposed to be on the 3rd Wednesday but is always in my account on the Monday before.

 

[GalaxyBoy]

DW’s check hits Schwab Bank on the third Wednesday every month like clockwork. Wonder what we’re doing wrong?

 

[AudiDudi]

A friend and I had always received the SS deposit on the 2nd Wed. About a year ago, his started droping on the 2nd Monday. Mine (just checked) is still the 2nd Wed.

 

[REWahoo]

It's my understanding it is at the discretion of the individual bank or CU to deposit funds a couple of days early as they apparently know on Monday the funds are pending.

 

[braumeister]

It's my understanding it is at the discretion of the individual bank or CU to deposit funds a couple of days early as they apparently know on Monday the funds are pending.

Yes, it's purely a bank policy, nothing to do with Social Security.
Banks or credit unions decide independently whether to mark a scheduled deposit as received early or not.

 

[FiveDriver]

Yes, it's purely a bank policy, nothing to do with Social Security.
Banks or credit unions decide independently whether to mark a scheduled deposit as received early or not.

Interesting. It's never been posted early in all the years I've been collecting. Thanks TD Bank !!

I have to move some money out of TD.....I was running a higher balance while waiting for the IRS hammer to drop. Now that all that's taken care of, I can transfer some local money up to Fidelity.

 

[Car-Guy]

I posted.

Has anybody else ever received their 'Entitlement Check' a few days early ??

I'm just curious, I guess.

Yes

 

[braumeister]

Interesting. It's never been posted early in all the years I've been collecting. Thanks TD Bank !!

I have to move some money out of TD.....I was running a higher balance while waiting for the IRS hammer to drop. Now that all that's taken care of, I can transfer some local money up to Fidelity.

FWIW, I have a few scheduled deposits going into my Fidelity CMA and they have been very good about this. Usually they show up as Pending two days before (occasionally three), and solid at least the day before. Government deposits like SocSec are great, but my wife has a pension annuity that usually (but not always) shows up the day before.

 

[Golden sunsets]

Both DH and I receive our SS checks on the second Wednesday of the month. Our bank annoyingly pings us with the deposit notification on our cell phones in the middle of the night. Last night it was at 3:30 AM.

 

[jollystomper]

We see DW's check as a "pending" transaction on Tuesday. On Wednesday we get the official deposit (sometime between 12:01AM and 3:00 AM).

 

[PaunchyPirate]

I believe this is the same "technology" that Chime uses in its marketing to their customers and prospects -- "Get paid up to 2 days early!" They will release your direct deposit paycheck early in some situations.

 

[AudiDudi]

I believe this is the same "technology" that Chime uses in its marketing to their customers and prospects -- "Get paid up to 2 days early!"

I never did really understand that one. Rather than getting paid every other Friday, you now get paid every other Wednesday - it's still 2 weeks apart

 

[athena53]

Mine is always in my Fidelity account when I check on Tuesday AM.

 

[statsman]

Our bank always shows "Processing" the Wednesday it is supposed to show up for DW (there might be exceptions for holidays). They will milk it to the last possible moment. I fully expect that to be the case when I start receiving my SS payments.

 

[W2R]

Mine always shows up on the Monday before, for some reason. My bank sometimes points this out in an email, congratulating themselves on how nice they are to us customers.

 

[racy]

Mine arrives on Mondays at Ally Bank. My DW's arrives on Wednesdays at USBank.

 

[Venturer]

Made me look -- nope, my DW got hers yesterday as normal on the 2nd Wed. and mine is always on the last Wed. which was on my birthday in March. I can remember in the 70's all the old folks got their money on the 3rd so when we had to go to the bank that day all these little old grey hairs would be lined up to cash the govt. checks!

 

[ShokWaveRider]

Both of ours arrive on the Monday before the Wednesday that they are due. Have been doing so for as long as I can remember.

 

[grasshopper]

Mine is supposed to be on the 3rd Wednesday but is always in my account on the Monday before.

Mine is the same at Wells Fargo Bank.

Early Pay Day1 — receive your money up to two days sooner. Early Pay Day is automatic when you set up Direct Deposit.

 

[marko]

Yes, it's purely a bank policy, nothing to do with Social Security.
Banks or credit unions decide independently whether to mark a scheduled deposit as received early or not.

Yes. Our SS shows up on the second Wednesday and not a minute before. My brother has a different bank and it can be posted as "received" (spendable) as much as four days ahead of time.