March 1st Deadline Approaching for Social Security Direct Deposits

Social Security is switching to electronic payments for benefits. The Social Security Administration states that you must sign up for direct deposit of payments by March 1, 2013. You can do this online or at your bank. In addition, if you are already getting benefits by paper checks, you can contact the U.S. Treasury Electronic Payment Solution Center at 1 (800) 333-1795 (English) or 1 (800) 333-1792 (Spanish).

Online Social Security Changes

The Social Security Administration changed their online account system on January 5, 2013. The new system is called "My Social Security" and it can be accessed here. If you had an account on the previous system, you will need to set up a new account. To set up the account, you will need to verify some information about yourself and you will need the following: 

• valid E-mail address
• a Social Security number
• a U.S. mailing address
• To be at least 18 years of age.

What can you do with this online account? You can get your verification letter, earnings record, benefit information, change your address or phone number, change your direct deposit information. If you do not yet receive benefits, you can review your earnings record and estimate your retirement benefits. Note that Social Security is switching to electronic payments for benefits. The Social Security Administration states that you must sign up for direct deposit of payments by March 1, 2013. You can do this online (see above) or at your bank.