What You Need to be on the Lookout for With Social Security Benefit Payment Changes  

The way you receive your Social Security benefits is changing because the federal government is transitioning to a new banking partner. According to a report by Cleveland.com, this will impact only those who receive their monthly benefits through Direct Express prepaid debit cards. Beneficiaries who receive their payments through direct deposit into a bank account will not be affected.

The Social Security Administration says the U.S. Department of the Treasury selected Fifth Third Bank as the new financial agent for its Direct Express program. Existing cardholders should begin receiving replacement cards later this year, continuing into early 2027.

The Seniors Trust is committed to improving the financial well-being of older Americans by passing the Social Security Expansion Act. It will give retirees an immediate increase of about $200 a month in benefits, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and ensure the long-term solvency of the Social Security program.