Change of bank account for social security

Through this service, you can change the Banking Details of how you receive your benefit or update your banking details held by the department. If you are currently receiving benefit payments by cheque, you may change your details to start receiving payments by direct deposit in a bank. If you are already receiving your payments by direct bank deposits, you may change both the bank as well as the account number (International Bank Account Number – IBAN).

You can also opt to receive a payment notification via SMS when your benefit has been deposited. Through this service, you cannot change your banking details to start receiving cheque payments.

What you’ll get

• Facility to update your banking details held with the Department of Social Security online.
• Facility to change your payment method from a cheque to a direct credit.
• Facility to receive a payment notification via SMS to be informed when your benefit has been deposited.
• By authenticating with their e-ID, an Agent, Administrator, or Agent appointed by an Administrator who is duly registered with the Department of Social Security, can change the banking details of the social security beneficiary being represented.

Eligibility

General eligibility criteria:

• A person registered under the Social Security Act (Cap. 318.), can update his/her banking details held by the department even though one is not a beneficiary to date.

Requirements

To use this service, you will need:

• An e-ID account issued by Identity Malta.

Additional Information

• The indicated bank account must be a Savings or Current account, but not a Loan Account.
• The indicated bank account must be in the name of the beneficiary, or in the name of the beneficiary’s administrator registered with the Department.
• If a person is not a beneficiary but is registered under the Social Security Act, banking details held by the department must still be updated and the indicated bank account must be in the name of the registered person.
• The bank account details provided will also be used for all benefits paid.
• If a beneficiary has a garnishee order, he/she is to inform the preferred bank about the amendment to Article 381 of the Code of Organisation and Civil Procedure (Cap. 12.), to have a bank account issued in the beneficiary’s name accordingly.
• In accordance to Article 381(1)(b) of the Code of Organisation and Civil Procedure ( Cap. 12.), it shall not be lawful to issue a garnishee order upon – any benefit, pension, allowance  or assistance mentioned in the Social Security Act or a private pension or any other pension, benefit or allowance issued by the Government or other foreign government: Provided that in the case of private pensions and pensions issued by foreign governments the amount which is not subject to attachment shall not exceed the amount established for the highest pension issued by the Government.

When a Payment is not Received

If a deposit in the bank account is not finalised because of an incorrect account number or closure of an account, the claimant is to notify the Department of Social Security immediately online. The procedure is the following:

The most convenient way to change your direct deposit information with us is by creating a my Social Security account online at www.ssa.gov/myaccount. Once you create your account, you can update your bank information from anywhere.

We are committed to protecting your personal information, so we take steps to verify who you are. If you already have an account, we verified your identity when you created your personal my Social Security account. If you can’t remember your username or password, don’t worry. At the sign-in screen select Forgot Username or Forgot Password and follow the simple but secure steps to reset them.

When you are ready to change your direct deposit, we highly recommend that you do not close your old bank account until you have seen your Social Security deposit show up in the new bank account.

We always strive to put you in control by providing the best experience and service no matter where or how you decide to do business with us. Remember, you can do much of your business with us online at www.ssa.gov/onlineservices.

FREQUENTLY ASKED QUESTIONS

Question: I will rely on Medicare when I retire. Can you explain the different parts of Medicare?

Answer: The different parts of Medicare cover your specific needs. There are four parts, all of which work in tandem to deliver healthcare services:

• Part A (hospital insurance): Helps pay for inpatient care in a hospital or skilled nursing facility (following a hospital stay), some home health care, and hospice care.

• Part B (medical insurance): Helps pay for doctors services and many other medical services and supplies that hospital insurance doesn’t cover.

• Part C (Medicare Advantage plans): If you have Medicare Parts A and B, you can join a Medicare Advantage plan. Private companies offer Medicare Advantage plans, which are approved by Medicare. These plans generally help you pay the medical costs not covered by Medicare Part A and B.

• Part D (prescription drug coverage): Helps pay for medications doctors prescribe for treatment.

Question: I understand you must have limited resources to be eligible for Extra Help with Medicare prescription drug costs. What does this mean?

Answer: Resources include the value of the things you own. Some examples are real estate (other than your primary residence), bank accounts, including checking, savings, and certificates of deposit, stocks, bonds, including U. S. Savings Bonds, mutual funds, Individual Retirement Accounts (IRA), and cash you have at home or anywhere else. To learn more about Extra Help, and to apply online, visit www.ssa.gov/prescriptionhelp.

Question: I lost my Medicare card. How can I get replacement?

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Answer: The easiest and newest way to get a replacement Medicare card is by using your my Social Security account. Go to www.ssa.gov/myaccount for more information on how to create an account. You also can get a replacement Medicare card by calling us toll-free at 1-800-772-1213 (TTY 1-800-325-0778). Keep your card in a safe place. You don’t want anyone getting hold of your Social Security number. They could steal your identity.

Question: Is it true that if you have low income you can get help paying your Medicare premiums?

Answer: Yes. If your income and resources are limited, your state may be able to help with your Medicare Part B premium, deductibles, and coinsurance amounts. State rules vary on the income and resources that apply. Contact your state or local medical assistance, social services, or welfare office, or call the Medicare hotline, 1-800-MEDICARE (1-800-633-4227), and ask about the Medicare Savings Programs.

If you have limited income and resources, you also may be able to get help paying for prescription drug coverage under Medicare Part D. Call Social Security at 1-800-772-1213 (TTY 1-800-325-0778) or visit any Social Security office. Also, see our publication, Medicare, at www.ssa.gov/pubs/10043.html. For even more information, visit www.ssa.gov.

Question: I have medical coverage through my employer. Do I have to take Medicare Part B?

Answer: You are not required to take Medicare Part B if you are covered by a group healthcare plan based on either your employment or the employment of a spouse. When your coverage ends, you may contact Social Security to request a special enrollment for Medicare Part B. We will need to verify your coverage through your employer in order for you to be eligible for a special enrollment. For more information, visit www.medicare.gov.

— Vonda Van Til is the Public Affairs Specialist for West Michigan. You can write her c/o Social Security Administration, 3045 Knapp NE, Grand Rapids MI 49525 or via email at [email protected].