Discussion in 'General Health & Wellness' started by TwoCatDoctors, Apr 30, 2011.

  1. TwoCatDoctors

    TwoCatDoctors New Member


    Heard this on CNN:

    FOR PEOPLE CURRENTLY ON SSD: Within the next two years (no indication of when they are starting this), the paper SSD check will be phased out and you will have the option of either having your SSD money deposited into a bank account OR to receive a debit card (I think the debit card is how many state welfare offices issue money).

    FOR PEOPLE APPLYING FOR SSD: You will no longer be permitted to receive paper SSD checks. Instead you will have the option of having your SSD money deposited into a bank account OR to receive a debit card.

  2. JLH

    JLH New Member

    Your Soc Sec money will be able to be deposited to either a Savings account or a Checking account.

    If you are interested in having all your money deposited on a debit card (personally, I wouldn't), be aware that some places will charge you to do it -- they would deduct $3-$5 from what is deposited on the card ... and banks wouldn't do this!

    For those of you who have never had this done ... I had my paychecks at work direct-deposited to my checking acount for probably 20 years or longer ... I know I did this at the first opportunity that we were given to have this done ... and I never once had a problem with it ... your money is always in your account by 2:00 pm the day before, even though some establishments may not let you draw it out until after they open on the day which is supposed to be your payday.

    Now, I have both my pension check and my social security check deposited to my checking account ... never any problem with social security either!!

    We all have to change our ways to get used to progress!! It will also prevent people from stealing checks out of your mailbox ... which has happened quite a few times where we live!!
  3. TwoCatDoctors

    TwoCatDoctors New Member

    I also had my work checks direct deposited and it was so easy and the money was there the day before (but not able to be withdrawn). And it meant I was not carrying a work check around in my pocketbook that I had to deal with.

    For the 6 years I have been on SSD (Social Security Disability), my check has been deposited in my bank account, shows up about 7:00 AM in my bank account on the 3rd of each month. I check on the computer to make sure it is in my bank account and I've never had a problem (knock on wood).

    Just a reminder: If you co-mingle your Social Security money into a bank account with someone else, and you or someone else has unpaid debt--eventually creditors may garnish the account. You risk the other person's money and yours being frozen or removed. They're not supposed to touch Social Security money, but when you co-mingle, it can change the rules.
  4. JLH

    JLH New Member

    My husband and I have had separate checking and saving accounts for 40 years and it has worked out great!!!

    We live on the border of two states, he worked in the state which we live, and I always worked in the state across the river from us, so in order for me not to have any trouble cashing checks and doing business on my way home from work, in the other state, I established accounts in the credit union where I worked, then I always had my bank in that state and never had problems purchasing anything because of an "out of state" check!!

    When we first got married, we established who would pay for what bills out of their checks, and we amended it as necessary as the years went by, and we have never had any problems!! Besides, I didn't want him writing checks out of my account and me never knowing what my balance would be!!

    Fortunately, we have never had to worry about the other one having unpaid debts or being garnished, so that would never be a problem for us .... but that's nice for others to know who may have to be setting up accounts to get ready for this new Soc Sec procedure!!
  5. lucybing

    lucybing New Member

    hi twocat, sorry to trouble you but have a question, not very good with how to get correct answers/sites to help. Maybe you could either give some advice or redirect me and please know i am truly sorry to pick on you but i saw your posting and thought i have never heard of this new way they will be handing out our wee funds. i have been on SSD for 18 years, getting checks mailed to bank(internet banking) over the course of the years i have been given, did not even apply for many credit cards and owe alot but can manage. Then on Thursday i got a letter of review wanting bank account number(checking) and wanted to know if i own house(no), car (no) just the usual form. should i worry if i have used my credit cards alot? I have been trying to supplement my income from ssd buy selling/buying silver coins. will they just rip through my credit or is it ok to have good credit while on SSD, due to Migraines/CFS. thanks for your time, Dan
  6. TwoCatDoctors

    TwoCatDoctors New Member

    I have been off the computer for a while as I have not been doing well. Bear with me as I try to answer your questions.

    SSA (Social Security Administration) never considers anyone permanently disabled so they continue to due reviews at either 18 months, 3 years, 5 years or 7 years. All depends on the disabilities you have. So you are going through a review.

    It would appear that you are on SSI (which is a type of welfare program for those who do not have enough work credits) and SSI is dependent upon how much money and assets you have and if you are getting any money in. If you are making money buying/selling coins, it might appear as if you are engaging in an income type business. Beware.

    If you are on SSI and are getting additional money from buying/sales of coins, that may possibly be taken into consideration during your review as income. Also, it is possible that wherever you are buying and selling coins may have reported the sales.

    As to your credit, SSA is looking for hidden sources of money that you may have. Using a credit card isn't considered a source of money, but buying then selling coins at a profit might be considered income and a type of business.