Social Security direct deposits, thinking of changing banks (state, payments, best)

[Dustyroad70]

Anyone have experience with this? Is it a big hassle? Delay payments? Any advice or thoughts?

[Clemencia53]

Originally Posted by chronic65

Anyone have experience with this? Is it a big hassle? Delay payments? Any advice or thoughts?

Just keep both accounts open until it is all settled and you are confident the money will be deposited in the new account.

[nybklyn]

Originally Posted by Clemencia53

Just keep both accounts open until it is all settled and you are confident the money will be deposited in the new account.

Very true! You don't want the direct deposit going to your old bank account, but you already closed the account, that will only complicate things. Wait until you see deposit coming in on the new bank account, then go and close the old bank account.

[Dustyroad70]

So, I guess this is something a person can do online, per the SS website? Thank you both for the good tips!

[JRR]

I did it when we moved to Tennessee earlier this year. Pretty painless. Went into our online social security accounts and put in the new bank info. Did it in April and they system said that the June deposit would go to the new bank accounts. Kept the old accounts open until the June deposit just in case. Went off without a hitch.

[gentlearts]

The new bank will have the necessary forms. As someone said, don’t close bank #1, until your transition is complete.

[engineman]

I just went to the SS office and gave them the information for my new account. Then I watched my bank statement to make sure all was correct.

[selhars]

As someone said, don’t close bank #1, until your transition is complete.

That's good advice (and just common sense, given that any mistake could happen) -- for switching ANY automatic deposits, debits or payments.

[AZgarden]

I just did it last week !!! The nice bank officer who opened my new account called SS for me, handed the phone to me and bingo ! It was done. Very easy.

[galaxyhi]

The banks or credit unions don't have the forms anymore.

You have to contact SS directly with the routing number and account number for the new institution.

The poster who said the bank assistant who dialed SS and handed them the phone would be correct over the poster who said the bank has the forms.

It's changed, used to be the banks had the forms, but not any more I found out.

But do keep the old account open until two direct deposits in the new bank have proven true. It can take up to two months for the direct deposit to even start at your new bank.

Best if luck in calling SS! Have bank or cu routing number and your account number handy.