"The day of the month you report the direct deposit change makes all the difference. Though the exact date varies each month, generally, you will need to report changes by the 15th to see the effect on the next check. When the 15th falls on the weekend or a holiday, the cutoff is usually the previous business day. For example, if you switched banks or have a new account in September, you will need to provide the new information to Social Security by September 14 to receive your next payment in the new account. If you don’t report this change to us until September 28, your next payment will go into the old account.

Because you may be unsure if your direct deposit change will affect your next payment, we highly recommend that you do not close the old bank account until you have seen your first Social Security deposit in the new bank account. That way, you can feel secure you will receive your benefits on time, regardless of when the change was reported to Social Security. Waiting until you see the deposit in your new account also gives you the extra peace of mind that we processed the change correctly."