How to change banking information with social security

Overview

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 Department of Social Security will notify the Bank regarding the transaction.
• The Bank carries out the necessary checks to specify the reason why the direct credit was not finalised.
• If the transaction is cleared, an alternative Bank account number is to be provided by the beneficiary for payment to be processed.

This procedure normally takes from 10 to 15 days to be finalised.

How to access the service

The user must authenticate to access Banking Details service.

With our busy lives, it’s easy to fall into that cycle of postponing some tasks because of other priorities. This may be true for you when it comes to changing your payment method for Social Security benefits. Unfortunately, forgetting to change your payment method can lead to delayed payments.

The most convenient way to change your direct deposit information with Social Security is by creating a my Social Security account online at www.socialsecurity.gov/myaccount. Once you create your account, you can update your bank information without leaving the comfort of your home. Another way to change your direct deposit is by calling Social Security at 1-800-772-1213 (TTY 1-800-325-0778) to make the change over the phone. If you prefer to speak to someone in person, you can visit your local Social Security office with the necessary information.

Nicole Tiggemann is a Social Security spokesman.