Social Security changes how millions receive payments
A rollout that began in mid-2026 will continue through 2027, altering how some beneficiaries receive their monthly Social Security payments.
For 95% of Social Security’s 75-million beneficiaries, monthly payments arrive in the form of direct deposits to their bank accounts. For almost 4 million people, however, benefits are made via a prepaid Mastercard that provides an alternative for those who do not have a traditional bank account.