Social Security Payments Coming to Bank Accounts on August 26
The final round of August Social Security payments in the United States will be issued on Wednesday, August 26. The payment is for beneficiaries whose birthdays fall between the 21st and 31st of the month.
Under the Social Security Administration’s payment schedule, most beneficiaries receive their monthly payments on the second, third or fourth Wednesday of the month based on their date of birth. In August, those born between August 1 and 10 received payments on August 12, while those born between August 11 and 20 received their payments on August 19. Beneficiaries born between August 21 and 31 will receive their payments on August 26.
People who began receiving Social Security benefits before May 1997 received their August payment on August 3. Meanwhile, Supplemental Security Income (SSI) payments for August were issued early on July 31 because August 1 fell on a Saturday.
More than 71 million people currently receive Social Security benefits in the United States. The average monthly retirement benefit is about $2,032, while average disability benefits are around $1,498 and survivor benefits about $1,635.
Beneficiaries can receive their payments through direct deposit into a bank account. Those without a bank account can also receive their benefits through a Direct Express card.
