Many people who receive Social Security benefits depend on them to support their households each month. Therefore, late payments can cause issues, such as not being able to pay a bill on time. Now, what if you could get your Social Security benefits faster each month?
Several traditional banks and neobanks (online-only companies offering banking services) process payments on a shorter timeline. Electronic payment options from companies like Netspend, Chime, and Capital One also make it possible to get money into your account up to two days faster1.
But how do these services work? And what do you need to do to set one of them up?
While each banking service has its own rules and average payout times, there are some methods that are more likely to offer an early Social Security deposit. We’ll explain how much faster you can expect to get your money, why it’s faster, and how you can get signed up for your next benefit payout.
How Social Security direct deposits work
You can choose to have your Social Security benefits sent via direct deposit to a bank account or to a debit card.
Each bank or neobank that administers the account or debit card decides how quickly you get access to your funds. Some banks will allow you to spend your money earlier than the payout day and time, as they are aware that the money is on its way. Other banks may make you wait until the exact time of payout — or even later — to be sure they have possession of the funds before making them available to you.
The Social Security Administration (SSA) recommends using the Go Direct service to have funds transferred to your choice of card or account. But you can use Go Direct to have the money go anywhere you wish. However, it might make sense to choose one of these faster payment options.
A note on the Direct Express card from SSA: The Direct Express card doesn’t require you to have a bank account, and you can use the card much like any other debit card. You will get the funds when the payment is issued, and not before. This may not be a good option if you want to access funds faster.
Benefits of faster direct deposit
There are many reasons to want a faster deposit. Benefit recipients often use their early funds to:
- Pay for emergency expenses
- Avoid overdraft fees
- Avoid late payment fees
- Avoid returned check/NSF fees
With money in your account sooner, you have more flexibility to spend it how you want, and without expensive fees or charges for spending more than what’s in your account. Pair the faster deposit times with other features like mobile payments and budgeting tools, and you may find yourself positioned to do more with your money.
Note: Banks and neobanks may state “up to 2 business days sooner1,” meaning the money can arrive quicker than with a traditional bank or payment service. However, these are estimates, and there’s no guarantee that money will arrive early each month.
Fintech services that offer faster direct deposit
Neobanks focus on convenience, speed, and accessibility. In fact, you typically don’t have to visit a physical branch to access and use most services. (Which is great, because most neobanks don’t have physical locations!)
Here are some of the fintechs and neobanks that promise early access to Social Security benefits, along with how much earlier you might see payments:
Netspend
- Timing: Access funds up to two days earlier1.
- Features: Mobile alerts, no credit check2, no activation fee3, no minimum balance, and high-yield* APY Savings earnings on balances4.
- Considerations: Must set up a Netspend debit card account (not just prepaid) to access early funds.
Chime
- Timing: Access funds up to two days earlier.
- Features: No monthly fees, real-time deposit notifications, automated savings, and spending insights.
- Considerations: Not a stand-alone card and requires a connected Chime bank account to access funds.
Varo
- Timing: Access funds up to two days earlier.
- Features: No minimum balance or monthly fees. No-fee overdraft protection up to a set limit.
- Considerations: Not a stand-alone card and requires a connected bank account to access funds.
Cash App
- Timing: Access funds up to one to two days earlier.
- Features: User-friendly app can be used to pay friends and bills, and make contactless retail purchases. Instant payment to friends and family.
- Considerations: Must have a separate checking or savings account to transfer cash out of, unless you want to use the Cash App debit card. ATM charges for cash withdrawals if the monthly direct deposit amount is less than $300.
National brands that offer early Social Security direct deposit
Many national banks now provide account holders with quick access to benefits through their early direct deposit programs. Unlike some fintechs and debit-card-only services (like Netspend), you’ll need to open a bank account. Here are some banks to consider:
Capital One
- Timing: Access funds up to two days earlier.
- Features: Use with a 360 Checking account. No fees or minimum balance requirements. Set up easily through the Capital One app. Limited physical locations (Capital One Cafes) available.
Regions Bank
- Timing: Access funds up to two days earlier.
- Features: No additional fees for Early Pay and no enrollment for early access. Get mobile app and email alerts for all new deposits.
Huntington Bank
- Timing: Access funds up to two days earlier.
- Features: SMS and app notifications when deposits arrive. Limited branch locations with Spanish-speaking customer representatives available.
SoFi
- Timing: Access funds up to two days earlier.
- Features: No monthly fees with high interest yields possible. Automated account and savings features to help meet money goals quickly.
How to set up faster direct deposit
Suppose you want to have your Social Security benefits arrive two to three business days before the payout date, and you’ve chosen the Netpend prepaid card to do this. You can:
- Order a Netspend card online for free. Make sure you include your correct Social Security number.
- Wait 7-10 business days for your card to arrive.
- Activate your card with your correct mailing and contact information.
- Visit the ssa.gov/myaccount website and log in to have your Social Security payments issued to your new Netspend card. (You will be asked for a routing and account number, which you can find with your new card documentation.) You can also call by phone (1-800-772-1213) or in person at your local Social Security office.
- Double-check that the name and details match exactly between your bank/card and Social Security records.
- Monitor your account and look for a test deposit or the first payment notification.
- Sign up for instant deposit alerts via your bank or app to track incoming payments and confirm early access.
- Wait up to two days before your next benefit payment date.
- Receive your funds early!
Remember, a prepaid Netspend card is convenient for a number of reasons, not just for the early payment. As one of the top Social Security prepaid cards, it also comes with transaction notifications to help with budgeting, flexible ATM benefits, and easy account management. You can also use it to receive other benefits and even your paycheck, giving you one card account to shop, pay bills, and manage your monthly finances.
Ways to keep your Social Security benefits safe
Direct deposit is a convenient and secure way to get your money each month. Additional steps you can take to safeguard benefits include:
- Don’t share your account login or Social Security details with anyone except official SSA representatives.
- Beware of scams. A trusted, reputable bank won’t call or email to ask for your account information. If you’re unsure if someone is a real agent, hang up and call the number on your card directly. (Don’t click on links in emails or SMS messages, either.)
- Only log in to your account when on a secure, password-protected Wi-Fi network. Avoid accessing your account from places like hotels, coffee shops, libraries, or airports.
- Don’t delay updating your direct deposit details if you change banks or lose your card. Notify SSA immediately to prevent missing payments.
What’s the fastest direct deposit service?
The SSA Go Direct service puts the money into your chosen account on the day of your regular benefit payments (usually at 12:01 a.m.!). Whether you see it as available in your bank account depends on your bank’s policies.
However, some banks and fintechs give you access to your money even earlier than the day of benefits, and this may be a reason to consider using one of their debit cards or bank accounts. Each bank or fintech varies, and you’ll want to read their terms and conditions to know exactly how much earlier you could get your money. Then, choose the one with no activation or monthly service fees, so you can keep more of your monthly Social Security benefits.
