According to the Social Security Administration, if you have applied for Social Security or Supplemental Security Income benefits after May 1, 2011 then you are required to receive those payments electronically; in other words you must submit your bank information so that your benefits may be directly deposited instead of paper checks. Also, if you currently are getting your payments through the mail you have a two-year time window in order to effect this change, the official date is May 1, 2013, in order to avoid a delay in payment.
If you already are enrolled in direct deposit and need to change your banking information, there are several options available to you. You can simply go to the financial institution where you would like to switch to and a bank representative will happily assist you. The bank will need a few pieces of information before they will be able to help you; your social security number, a bank statement (if you are using your savings account) or a personal check. You can also contact the Social Security Administration at 1-800-772-1213 and a representative will assist you over phone with changing your direct deposit information. Lastly, if you have internet access, you may go online to the Social Security Administration’s website http://www.ssa.gov/deposit/
in order to amend your direct deposit information.
Please be advised that in the event you do change your direct deposit information, the Social Security Administration must again verify your new account information with your bank or credit union. This process could take up to 14 days in order get verification. Please note that they will mail you a paper check until your account information is verified; so if you know you will be changing banks, it is very important to submit this information as soon as possible to avoid an interruption.