Published on: April 10, 2023
If you are disabled and unable to work, you may be receiving disability benefits from the Social Security Administration – or you may be considering whether or not you should apply. This is understandable, as being disabled can be stressful in many ways, not the least of which is financial. Depending upon your income and resources, you may seek different types of benefits. Sometimes, this means allowing the Social Security Administration to review your bank accounts. How often does this happen – and why? Let’s take a closer look together.
A Closer Look at the Criteria
The Social Security Administration provides two types of disability benefits, and the benefits for which an individual qualifies will be based upon their circ*mstances. Those two types of benefits include:
- Social Security Disability Insurance (SSDI) Benefits: These are benefits that the SSA pays to individuals who have a qualifying medical disability that has rendered them disabled for one calendar year or more, and who are "insured" – meaning that they worked a qualifying job for a sufficient length of time, through which they paid taxes into the Social Security system.
- Supplemental Security Income (SSI) Benefits: Unlike SSDI benefits, those who receive SSI benefits do not have to be “insured”. Instead, they must have income and resources below a certain threshold established by the SSA before they can be approved.
More specifically, those who are seeking SSI benefits must be able to prove that they meet the following conditions:
- Have a qualifying medical disability: To determine whether a medical condition might qualify as a "disability," the SSA will typically consult its "Blue Book" which is a listing of qualifying impairments and their various symptoms. If you can establish through sufficient medical evidence that you have a condition that satisfies the criteria outlined in the Blue Book, you greatly increase your chances of approval. If your condition is not outlined in the Blue Book, this doesn't mean you won't be approved – you may simply need more thorough medical evidence to establish eligibility.
- Can prove that the condition has rendered the applicant unable to work for at least one calendar year or more: In order to receive SSI benefits, a condition must be of a more long-term nature, that is, at least a year or more. If your condition does not render you disabled for at least a calendar year or more, you may instead wish to seek short-term disability benefits through another means. Various options may be available, and consulting with an attorney is always advised.
- Have income and resources below a certain level: For the year 2023, an individual who seeks to receive SSI benefits must have resources below $2,000. For a couple, the amount is $3,000. The Social Security Administration defines “resources” not only as money in a bank account, but also as investments, personal property, savings bonds, real estate, and anything else an individual owns that might be converted to cash and used to provide for day-to-day living expenses.
Why Will Social Security Check My Bank Account – And How Often?
Because SSI is based on need, the Social Security Administration will need to confirm your income and resources, which will include checking your bank accounts. This is because SSI is based, at least in part, upon recipients having limited income. If income and resources exceed the threshold established by the SSA, then an individual will no longer qualify for benefits. This is not the case if you receive SSDI benefits, which are based on your work history, and not your income level.
How often SSA will check your account isn’t necessarily standardized. There isn't a set schedule or a guaranteed timeline as to how frequently your accounts might be monitored. It could be once a year, twice a year, or only once every few years. Often, it will depend upon circ*mstances, and the schedule set forth by the SSA. To verify resources, the SSA uses an electronic system to check bank account balances and ensure that eligibility requirements continue to be met.
While this advice is intended to be helpful, it is certainly no substitute for the guidance of a knowledgeable and experienced attorney. Each person’s situation is unique, and you will want to be sure to consult with a lawyer about your particular circ*mstances. At Disability Experts, we’re here for you.
Disability Experts – Here for You
Suffering from a disability is difficult. There’s no question about it. It can create a lot of financial stress – but receiving the benefits you need and deserve can go a long way toward relieving that burden. At Disability Experts, we’re here to help you do exactly that. We know the best legal strategies to pursue on your behalf to help you assert your rights. We’ll fight for you each step of the way, and we’ll provide the expert guidance you deserve as you navigate this difficult process. If you’re ready to get started, we’re here for you. Give us a call today. We look forward to speaking with you soon.
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FAQs
There isn't a set schedule or a guaranteed timeline as to how frequently your accounts might be monitored. It could be once a year, twice a year, or only once every few years. Often, it will depend upon circ*mstances, and the schedule set forth by the SSA.
Does SSI look at your bank account every month? ›
The SSI keeps your bank account in check because they need to monitor the money you carry inside of it constantly. Doing this is necessary because the money in your account can determine your eligibility. So yes, the money inside your bank account may disqualify you from Social Security disability benefits.
How often does SSI ask for bank statements? ›
Scheduled Events When SSI Checks Bank Accounts:
The SSA asserts that it checks the financial eligibility of every SSI recipient every 1 to 6 years.
How often does SSI do a financial review? ›
We redetermine eligibility and benefit amounts of most recipients once every 1 to 6 years. When you report a change that affects eligibility or payment (for example, marriage), we may review your income, resources, and living arrangements.
How long does it take for SSI to hit your bank account? ›
The SSA sends out payments one month after they are due. This means that each Social Security benefits payment is for the month immediately previous to the one in which you receive it from the SSA.
How do you know if Social Security is investigating you? ›
THE SSA INVESTIGATION USUALLY STARTS WITH THE INTERNET
SSA opens their investigation by looking you up on the internet. They will look up your name, phone number, and address. They usually already have this information, but they are checking it to make sure you are living at the address that you say you are living at.
How much money can you have in the bank if you are on SSI? ›
SSI eligibility guidelines stand in stark contrast to those of the SSDI program as far as having money in the bank or owning other assets. SSA limits the value of resources you own to no more than $2,000. The resource limit for a couple is only slightly more at $3,000.
How does SSI monitor your bank account? ›
The Social Security Administration can only check your bank accounts if you have allowed them to do so. For those receiving Supplemental Security Income (SSI), the SSA can check your bank account because they were given permission.
Can SSI cut you off without notice? ›
Social Security must tell you in writing before it reduces or stops (terminates) your benefits. You can fight their decision to reduce or terminate your benefits by asking for (requesting) reconsideration.
Does SSI look at credit cards? ›
Just as SSI and SSDI benefits do not impact credit scores, your credit history does not affect SSI or SSDI eligibility. Your credit score and credit history (or lack thereof) are not part of the information needed to apply for disability benefits.
(a) To be eligible for SSI payments you must give us permission to contact any financial institution and request any financial records that financial institution may have about you. You must give us this permission when you apply for SSI payments or when we ask for it at a later time.
How do I pass a SSI review? ›
How to Pass a Continuing Disability Review (7 Easy Ways)
- Hire an Experienced Social Security Disability Attorney. ...
- Follow Your Medical Treatment Protocol. ...
- Maintain Communication with Your Doctors. ...
- Keep Copies of Accurate and Complete Medical Documentation. ...
- Submit All New Medical Evidence Before the Review.
The first sanction period is a withholding of payments for six months. Subsequent sanction periods are for 12 months and then 24 months. If you intentionally withhold information to continue to receive payments, you may face criminal prosecution. Criminal penalties can include fines and imprisonment.
How does SSI verify income? ›
The benefit verification letter, sometimes called a "budget letter," a "benefits letter," a "proof of income letter," or a "proof of award letter,” serves as proof that you either: Get Social Security benefits, Supplemental Security Income (SSI), or Medicare.
How far back can SSI audit? ›
Where the SSA overpays an SSI recipient, Social Security Act regulations permit the agency to seek payments dating back two years. No such two-year limitation exists where the overpayment is the result of fraud.
How do I get the $16728 Social Security bonus? ›
To acquire the full amount, you need to maximize your working life and begin collecting your check until age 70. Another way to maximize your check is by asking for a raise every two or three years. Moving companies throughout your career is another way to prove your worth, and generate more money.
Does SSI spy on people? ›
Yes, the Social Security Administration conducts surveillance to investigate potential fraud or to decide if a person is still disabled under their definition of disability. SSA surveillance activities include: Monitoring the activities of disability recipients. Investigating suspicious activity.
What can cause SSI benefits to stop? ›
Benefit suspensions occur when a beneficiary is no longer eligible for SSI benefits. For example, the person has amassed over $2,000 in resources, their work earnings exceed SGA, they are hospitalized for longer than 30 days, or they become incarcerated.
Can Social Security tap your phone? ›
(2) SSA employees authorized to listen-in to or record telephone calls are permitted to annotate personal identifying information about the calls, such as a person's name, Social Security number, address and/or telephone number.
Can I save cash on SSI? ›
Yes. If you receive Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI) you can have a savings account. However, there could be limits on how much you can have in it, depending on which type of disability benefit you collect.
The following benefits are protected from garnishment and bank levies thanks to federal law: Social Security benefits. Supplemental Social Security Income (SSI) Veterans benefits.
Does SSI check your tax return? ›
SSI Income Limit and Tax Refunds
Federal and state tax refunds and advanced tax credits are not considered countable income for SSI purposes. So the only thing you need to worry about is the resource limit, after 12 months. Take our disability quiz to help you determine whether you qualify for benefits.
What happens if you don't have a bank account for SSI? ›
Anyone who does not have a bank account and receives a Social Security and/or Supplemental Security Income check (as well as various other types of Federal benefit payments) can get a Benefit Security Card. The debit card is available through the Department of Treasury s electronic benefits transfer (EBT) program.
What happens if you get caught lying to the SSI? ›
But most of the time, it involves jail time and monetary penalty. Aside from the criminal and felony charges, the SSA may also impose a civil monetary penalty of up to $5,000 each time you lie or withhold facts. They can also make you return double the amount of benefits you fraudulently received.
How do you get disqualified from SSI? ›
- You Earn Too Much Income. ...
- Your Disability Won't Last Long Enough or Isn't Severe Enough. ...
- The SSA Cannot Find You. ...
- You Refuse to Cooperate. ...
- You Fail to Follow Prescribed Therapy. ...
- Your Disability Is Based on Drug Addiction or Alcoholism. ...
- You Have Been Convicted of a Crime. ...
- You Commit Fraud.
You can ask for a waiver at any time. You cannot pay back the overpayment because you need the money to meet your ordinary living expenses. You may have to submit proof of your income, as well as bills to show that all of your income is used for your monthly expenses and that it would be a hardship for you to repay.
What happens if you have more than 2000 in the bank on SSI? ›
If you go over the limit, a few not-good things can happen: If you are trying to apply, your application will be denied. If you are already on SSI, you may be come ineligible. You may be ineligible until you are back under the limit. You may owe money back.
Can you have a debit card on SSI? ›
You can also sign up for the Direct Express® debit card. The Direct Express® card is a debit card you can use to access your benefits and you don't need a bank account. With the Direct Express® card program, your federal benefit payment directly deposits into your card account.
Can SSI be used for vacation? ›
Does being disabled mean you can't take a vacation? The short answer is no. Receiving disability does not amount to a sentence of home confinement. You can and should still enjoy your life as much as possible, and that includes taking a vacation.
How often does SSDI monitor your bank account? ›
There isn't a set schedule or a guaranteed timeline as to how frequently your accounts might be monitored. It could be once a year, twice a year, or only once every few years. Often, it will depend upon circ*mstances, and the schedule set forth by the SSA.
The requirements of a dedicated account are: It must be separate from the account used for the regular monthly benefit payment and can only be a checking, savings, or money market account. Other funds, except for certain past-due SSI benefits, cannot be commingled with the funds in the “dedicated account”.
Where can I cash my SSI check without a bank account? ›
How to cash a check without a bank account, but you have ID:
- Cash it at the issuing bank (this is the bank name that is pre-printed on the check)
- Cash a check at a retailer that cashes checks (discount department store, grocery stores, etc.)
- Cash the check at a check-cashing store.
We pay Social Security benefits monthly. The benefits are paid in the month that follows the month for which they are due. For example, you would receive your July benefit in August.
How does SSI check assets? ›
When determining what your assets or resources are, the SSA will review things such as how much cash you have, bank accounts, savings accounts, land, life insurance, personal property, vehicles and pretty much anything else that you own that you could sell and use to pay for housing and food for your family.
