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More Than $1,000 Direct Payments Will Hit Your Bank Before Thanksgiving, Here’s What You Should Know

$1,000 in direct payments
$1,000 in direct payments to hit your banks before Thanksgiving. (Photo: CNBC)

Officials announced that millions of Americans across the country will receive more than $1,000 in direct payments a few days before Thanksgiving Day.

$1,000 in direct payments

$1,000 in direct payments to hit your banks before Thanksgiving. (Photo: CNBC)

More Than $1,000 in Direct Payments

A news outlet reported on Monday that only three days remain until direct payments totaling $1,657 will reach in the bank accounts of millions of Americans in time for Thanksgiving. Three Wednesdays a month are set aside for Social Security payments, but the precise day you will get your check depends on your birthdate.

The second Wednesday of the month is payout day for Americans born between the 1st and 10th of the month. The payment for seniors having a birthdate between the 11th and 20th of the month was due on November 16. The money will be deposited for anyone born between the ages of 21 and 31 on the fourth Wednesday of the month, which is November 23, a day before Thanksgiving.

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There are just three more Social Security payment days on the schedule for 2022 after Wednesday, all of which fall in the month of December. Social Security claimants saw an average rise in their payments of $92 over the course of the year, bringing the total amount received per month up from $1,565 to $1,657, according to an article published in MUNDONOW.

Couples also experienced an increase in their payments. The median payment grew by $154, from $2,599 to $2,753. This is a result of the cost of living adjustment (COLA) increasing by 5.9 percent on January 1 of this year.

According to a news outlet, persons who began receiving Social Security benefits before to 1997 should have received payments in their accounts as of November 3. This timing corresponds to those who are also qualified to receive Supplemental Social Security Income.