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If you are told your check is to be disbursed on the 24th of the month, and it is going to be direct deposited, does that mean it will be deposited on the 24th?
Hubby was told his first check would be directly deposited on the 24th . . . it's the 26th but of course it has been a banking holiday. Typically, our bank holds checks - even direct deposit checks - but they note that it has been received. I just reviewed our account and nothing is being noted as "pending."
So do I start asking questions tomorrow . . . or what? To me, direct deposit means . . . the day the check is cut, it is deposit directly, but the government and I may not be on the same page on how that works, lol.
We are just concerned w/ it being the first check - always worry about something going wrong.
Thank you so much for that PDF w/ the payment dates. I had googled for about an hour b/f posting and didn't have the good sense to search for a chart on payment dates!
Well . . . don't know how hubby came up with that date, b/c his payment looks like it would be made on the 28th, not the 24th. Hubby is sick (flu - just in time for Christmas, lol!) and was unable to tell me where to find any letters he has received on the subject. He has been very insistent it was to be deposited on the 24th.
Looks like I should be looking for a deposit on or after the 28th. :-)
Thank you again. Not gonna concern myself further with this til the 29th!
As you have probably now noted, checks come/direct deposits are made on Wednesdays and which Wednesday depends upon your SSAN. For instance, mibne comes on the 3dr Wed. and my wife's on the 4th Wed. Our bank always credits them the day before.
As you have probably now noted, checks come/direct deposits are made on Wednesdays and which Wednesday depends upon your SSAN. For instance, mibne comes on the 3dr Wed. and my wife's on the 4th Wed. Our bank always credits them the day before.
Thank you for helping me understand these procedures. I do all the bookkeeping these days and I really do need to know how to keep track of this.
I had not realized that the deposits were always on Wednesdays til I saw that chart.
To Anifani: Glad you have solved your problem. For what it's worth, I have been receiving Social Security direct deposits for the last five and a half years and they have never failed to be credited to my account on the day expected, which for me is the third Wednesday. Reliability doesn't get any better than that, in my book. I hope you will have the same experience.
As has been said. You can depend on it being there when promised. Been doing it for over 7 years and changed banks twice but Social Security electronic deposit was as regular as clock work on the day promised.
The fact that you are "talking" to us shows you know a little something about computers so I suggest you set up online access to your bank accounts, especially chaecking/debit. This way you can stay on top of account activity. I find it to be a real help and this is from someone that never used to even balance my checking account.
Thank you so much for that PDF w/ the payment dates. I had googled for about an hour b/f posting and didn't have the good sense to search for a chart on payment dates!
Well . . . don't know how hubby came up with that date, b/c his payment looks like it would be made on the 28th, not the 24th. Hubby is sick (flu - just in time for Christmas, lol!) and was unable to tell me where to find any letters he has received on the subject. He has been very insistent it was to be deposited on the 24th.
Looks like I should be looking for a deposit on or after the 28th. :-)
Thank you again. Not gonna concern myself further with this til the 29th!
Many banks and credit unions have online features that will allow you to set triggers on your account that send you an email anytime a deposit or transaction occurs if it exceeds whatever amount you set. This is real helpful in keeping track of when major deposits occur.
Thank you all so much. Really appreciate all the info and input.
I agree - online banking is so helpful.
I will check tomorrow to see if my bank has noted the deposit. I don't know why but for some reason, my bank notes that direct deposits are "pending" before they actually make the funds available. That is typically a day ahead. I checked this evening and nothing is "pending" so I will look at it again tomorrow and see how this works so I will know what to expect in the future.
Yes, it is important that I get a grip on this. Hubby ended up at the ER today :-( I have been handling most of the finances (bill paying) for a while but it is increasingly necessary that I am totally on top of our banking and finances in general.
I am really glad I found this particular forum. You all have been so helpful. I have read old posts to educate myself and have found a treasure trove of good info here.
Thanks for all of the information that I've found here. I too will receive for the very first time the month of Jan, 2012. I am asking for any info for 1st timmers at this too!
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