To combat fraud and enhance security, the Social Security Administration (SSA) is implementing stricter measures for updating bank account information. This move aims to safeguard Retirement, Survivor, and Disability Insurance (RSDI) recipients from potential threats associated with fraudulent direct deposit changes.
Strengthening Protection Against Fraud
The SSA has identified a significant vulnerability—nearly 40% of fraud cases linked to direct deposit involve unauthorized phone requests to change bank information. Traditional identity verification questions have proven insufficient in preventing scams. To address this, SSA is eliminating the option to update banking details via telephone and reinforcing security protocols for all recipients.
Secure Methods to Update Your Bank Account Information
If you need to update your direct deposit details, SSA now offers two secure methods:
- In-Person Visit: Go to your local Social Security office and provide proof of identity.
- Online Two-Factor Authentication: Use your “my Social Security” account with multi-step verification to ensure security.
By implementing these measures, SSA aligns its security protocols with those used by most financial institutions, reducing the risk of fraud while ensuring a smooth process for beneficiaries. Notably, all other SSA phone services will remain unchanged.
Remaining Social Security Payments in March 2025
For those receiving Social Security benefits, two more payments are scheduled in March 2025. The maximum benefit amount for retirees can reach $5,108, while the average payment is approximately $1,978.
Next Payment Dates & Eligibility
- March 19, 2025: For beneficiaries who:
- Started receiving Social Security benefits after April 30, 1997
- Do not receive Supplemental Security Income (SSI)
- Were born between the 11th and the 20th of the month
- Remain eligible and comply with SSA rules
- March 26, 2025: For recipients who:
- Began receiving benefits after April 30, 1997
- Were born between the 21st and 31st of the month
Average payments for different beneficiary categories include:
- Retired workers: Approximately $1,978
- SSDI recipients: Around $1,580
- Survivors: About $1,546
FAQs: Social Security Payment & Security Updates
1. Why did SSA eliminate phone updates for bank account changes?
Phone updates were a major source of fraud, with nearly 40% of direct deposit fraud cases stemming from unauthorized requests. SSA is prioritizing in-person verification and secure online methods to enhance protection.
2. How do I set up or access my “my Social Security” account?
You can create an account at SSA’s official website and follow the steps for two-factor authentication.
3. What if I cannot visit an SSA office due to mobility issues?
If you are unable to visit an office, SSA recommends using the secure online method or contacting a representative to discuss alternative solutions.
4. Will this change affect my benefit payments?
No, benefit payments will continue as scheduled. The only change is how banking details are updated.
5. What should I do if I suspect fraud on my Social Security account?
Report any suspicious activity immediately to SSA at 1-800-772-1213 or visit an SSA office in person.
With these enhanced security measures, SSA aims to provide recipients with greater peace of mind, ensuring their benefits remain protected against fraud and unauthorized access .