Anyone had their Social security deposit date changed??

[freetodream]

For about 5 years both of our SS direct deposits has been deposited on the 2nd and 3rd Wednesday of the month according to our birthdays. This is still the correct deposit dates according to the 2022 SS calendar.

But about a month ago the money started to show up on the 1st Friday and 2nd Friday of each month.

Should I be concerned and contact them??

 

[Dash man]

I received mine today as always. I haven’t heard of any changes.

 

[braumeister]

What bank are you using?
Some banks will "anticipate" the deposit by up to three days for regular, reliable, recurring deposits like SS or a paycheck. Perfectly normal, but it's a bank policy, nothing to do with where the money is coming from. I've seen at least one local bank heavily advertise this as a reason you should bank with them.

 

[Koolau]

Never heard of SS changing its deposit date or of a bank "anticipating" the deposit. Maybe start with a phone call to the bank and then SS if need be. YMMV

 

[Car-Guy]

What bank are you using?
Some banks will "anticipate" the deposit by up to three days for regular, reliable, recurring deposits like SS or a paycheck. Perfectly normal, but it's a bank policy, nothing to do with where the money is coming from. I've seen at least one local bank heavily advertise this as a reason you should bank with them.

Often learn something new here. Never heard of this practice. I usually see my deposit "pending" the night before it's due, but that's about it.

 

[latexman]

So, SS direct deposits are coming early? This is not a problem. In fact, it's an anti-problem. I'd let sleeping dogs lie!

 

[MissMolly]

This happens with my credit union. I usually get the deposit on Monday instead of Wednesday. I don't think it's ever been as early as Friday, but it's possible.

 

[foxcreek9]

What bank are you using?
Some banks will "anticipate" the deposit by up to three days for regular, reliable, recurring deposits like SS or a paycheck. Perfectly normal, but it's a bank policy, nothing to do with where the money is coming from. I've seen at least one local bank heavily advertise this as a reason you should bank with them.

Banks don't anticipate, they will receive a notification that there is a pending direct deposit each month. So banks that give you "up to 2 days early" are using that notification to give you a 2 day interest free loan.

 

[Gumby]

I've only been receiving Social Security for a year and a half, but so far it has shown up in my bank account every third Wednesday of the month like clockwork. Doesn't really matter to me, as long as it gets here every month.

 

[Alan]

My wife has been receiving SS directly to our bank in England for about 10 months. When it arrives in the account I record it on a spreadsheet including date as the amount differs each month due to exchange rates. The earliest she has received it is the 1st of the month and the latest is the 7th. I won’t be concerned unless it doesn’t arrive at all.

 

[Lakedog]

My credit union deposits both my fed pension and SS 2-3 days before the scheduled date - they notified me last year that they would start making the deposits a couple of days early vs showing as pending between the date they get the transactions from Treasury and the scheduled date.

 

[braumeister]

I have always had both SS and pension deposits shown in my bank accounts at least a day early, frequently two days. This is with three different banks, and has been going on for many years, so it's hardly anything new. Some banks are just friendlier than others, I guess.

 

[ShokWaveRider]

I have a simple question, why does it even matter? Looking back after reading your post, I noticed it can be different every month, I checked the last six months, but only by a day or so. Now if you did not get it, that would be a different issue. Don't sweat the small stuff.

 

[Major Tom]

This thread is making me envy the folks who are receiving their SS. I'm a little over 3 years from being able to claim early. I doubt that I'll take it that soon, but sure am looking forward to all that "free" money when it starts happening.

Enjoy it, regardless of when it hits your bank account!

 

[Irishgirlyc58]

This happens with my credit union. I usually get the deposit on Monday instead of Wednesday. I don't think it's ever been as early as Friday, but it's possible.

I had this conversation with my BFF last month.
She said her SS deposit was late. I looked at the payment schedule and it wasn’t due until the 4th Wednesday. She said she got it on Friday June 17. She expected her July deposit 4 weeks after and it wasn’t there.
She apparently gets her deposit 2 days prior, so the Monday before the actual Wednesday payment.
In June that Monday was a holiday so she got it on Friday.

As a side note- I don’t understand how people don’t pay closer attention to their money, both coming in and going out. I would have looked into that early deposit in June as soon as it happened.
My bff didn’t even know her actual SS pay date and that she had been getting it early for months. [emoji2356]

 

[freetodream]

The bank we use is Affinity Plus Federal credit union. I will check with them first to see if they deposit it early. It is actually coming 6 days earlier than is used to.

I am thankful it arrives every month! I know this may sound silly but I don't want a surprise to pay interest for getting it 6 days early 10 years from now!

 

[Gumby]

Social Security pays in arrears for the prior month. The different delivery dates based on your birthday is just a way to spread out the workload. So I see no basis for any claim for interest.

 

[kgtest]

I had this conversation with my BFF last month.
She said her SS deposit was late. I looked at the payment schedule and it wasn’t due until the 4th Wednesday. She said she got it on Friday June 17. She expected her July deposit 4 weeks after and it wasn’t there.
She apparently gets her deposit 2 days prior, so the Monday before the actual Wednesday payment.
In June that Monday was a holiday so she got it on Friday.

As a side note- I don’t understand how people don’t pay closer attention to their money, both coming in and going out. I would have looked into that early deposit in June as soon as it happened.
My bff didn’t even know her actual SS pay date and that she had been getting it early for months. [emoji2356]

Right? I once caught a processing error on DW 403b contribution. It hadn't been deposited a day later than it ever had been so I told her there could be an issue. She pressed, and accounting pushed back and said to "wait a day or two that its likely not an issue". 2 more days passed and DW informed them again, at which point they contacted the servicer, who admitted a processing error. I thought to myself, doesn't the CEO check her contributions. The market had risen about 5% in the time it should have been deposited vs the time the contribution actually processed after we raised the flag. I did the math and that 5% gain likely cost investors hundreds of thousands of lost gains due to a processing error that the accounting department was too lazy to check on right away. They literally waited 2 days before contacting the servicing company instead of taking action the moment we informed them of a potential issue. NO accountability anymore folks.

 

[TheWizard]

For about 5 years both of our SS direct deposits has been deposited on the 2nd and 3rd Wednesday of the month according to our birthdays. This is still the correct deposit dates according to the 2022 SS calendar.

But about a month ago the money started to show up on the 1st Friday and 2nd Friday of each month.

Same with me: my CU credits me with my SS deposit Friday night before my designated Wednesday.
It's all good...

 

[freetodream]

Same with me: my CU credits me with my SS deposit Friday night before my designated Wednesday.
It's all good...

Thanks! I'm going with "its all good'"

 

[Irishgirlyc58]

Right? I once caught a processing error on DW 403b contribution. It hadn't been deposited a day later than it ever had been so I told her there could be an issue. She pressed, and accounting pushed back and said to "wait a day or two that its likely not an issue". 2 more days passed and DW informed them again, at which point they contacted the servicer, who admitted a processing error. I thought to myself, doesn't the CEO check her contributions. The market had risen about 5% in the time it should have been deposited vs the time the contribution actually processed after we raised the flag. I did the math and that 5% gain likely cost investors hundreds of thousands of lost gains due to a processing error that the accounting department was too lazy to check on right away. They literally waited 2 days before contacting the servicing company instead of taking action the moment we informed them of a potential issue. NO accountability anymore folks.

It’s outrageous!
A few years ago I alerted my employer that they didn’t take out the appropriate amount of FICA. They stopped collecting at the maximum pay for the previous year.
I knew right away because my pay was more than anticipated. No one else noticed. [emoji2356]

 

[wmc1000]

DW and I have been "receiving" credit for our SS deposits on the Monday of the week they are due to us for quite a while now.

I was expecting to see a deposit hit our account next week on Monday. Checking my email this morning I have a cha-ching your deposit is early!

We'll take it, even though it wouldn't matter if it wasn't received early.

 

[Time2]

This thread is making me envy the folks who are receiving their SS. I'm a little over 3 years from being able to claim early. I doubt that I'll take it that soon, but sure am looking forward to all that "free" money when it starts happening.

Enjoy it, regardless of when it hits your bank account!

I'm also waiting, with envy for SS to start, I have either 2 yrs or, 2 yrs and 2 months. I'm waiting until 70, but not sure if I want to start at the beginning of the year or wait until my birthday in March. I'll probably stop doing Roth conversions that year, so I'm figuring I might as well start at the beginning of the year.

 

[CRLLS]

My understanding is that SS retirement benefits are paid on Wednesdays. Only on Wednesdays. I may be wrong. DW and I both get them on the 3rd Wednesday for the last few years, like clockwork. Are you sure it is the SS paying on Mondays and not simply a delay before your bank posts it to your account?

 

[xlf11]

This is from your bank who posts your DD two business day early feature (such as Capital One, Sofi etc), not the benefit from SSA.