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R U Retired and Get SS and Direct Deposit?

Discussion in 'Off Topic Threads' started by Dr.Longshot, Feb 2, 2013.

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  1. Dr.Longshot

    Dr.Longshot Banned Banned

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    THIS BELONGS IN OFF-TOPIC NOT SHOOTING THREAD SECTION - MODERATOR.

    Have your SS Payment deposited to a strictly Savings Acct where you have to go and get your money.

    Mine was to a debit/credit card and was hacked into and used in France and Illinois it was a MasterCard. They cannot stop them as they have to protect the merchant even though it was a fraud charge.

    My bank blocked my and I gave them my card to destroy it, and put the last deposit 2/1/13 into my savings acct.

    I kept my checking acct as I have one company take money from my checking and I only deposit that amount in it.

    My bank says this is happening so much more wit the SS money being deposited on a debit card, and a federally issued SS Debit Card, Us Seniors are being ripped off since the Government demanded this type of payment.

    I was re-imbursed by my bank so I had no loss but they did, they are trying to get their money back from the merchants.

    I warned you to have it deposited to a savings acct only, it is safe no one has access to it, only you w/self withdrawls.

    Gary Bryant
    Dr.longshot
     
  2. jsteenson

    jsteenson Member

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    How much is standard ss a month. In Canada the standard old age pention is 545.00 a month,
     
  3. Tim Earney

    Tim Earney Member

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    The average SS check is $1200.00/month. It depends on how long and how much you paid in. Individual plus employer tax is split even for a total of ~15% of your wages or salary. If you work and pay for 40 years it is almost impossible to break even. Government theft by politicians.
     
  4. Haskins Bill

    Haskins Bill TS Member

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    Well I have been retired for 5 1/2 yrs now and have recouped the money I paid in and am starting on the money my employers paid in! I started drawing at 62 in Aug 2007. For those of you who might want to get information from Social Security go to their website and sign up then you can see what you paid in in total and what your employers have paid it. Now then it does not surprise me at all that the hoodlums are hacking the SS debit cards. I would make a guess it is Master Card that got hacked not the Social Security system.
     
  5. Rick Barker

    Rick Barker Well-Known Member

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    Never use any kind of debit card, except to withdraw cash or make a deposit at an ATM, and even that can be risky.

    Direct deposit is a good thing, but, deposit it into a savings or checking account.

    Get a credit card with a credit limit about twice what you spend in a month. Use it to pay your bills and get a watching service through your bank that advises you with an email every time you make a deposit or withdraw. Set up a warning advisement for a set amount of money on your credit card.

    If your credit card is stolen, report it immediately and they will stand the loss after the date you notifiy them if the card is used after that date.

    Set up your checking account to pay your credit card automatically each month. Pay off the card in full each month. Do not set up a savings account that can be mangaed on line with withdrawals. Keep only the amount necessary in your checking account to cover your bills and fees, unless you need a minimum balance to avoid fees and you do not want to pay them. Transfer any surplus into your savings account, then watch all of your accouts on line every day.

    You cannot be too careful with it comes to modern day thieves and identity theft. About ten years ago, when my wife would call me and hour after I got back from lunch and ask, "who did you take to lunch at so and so restaurant?" When I found out she was tracking credit card usage on line, I figured out she had it pretty well handled.
     
  6. Dr.Longshot

    Dr.Longshot Banned Banned

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    Rick Barker so true on the SS direct deposits, only to an account that does not have credit card access to or debit card acess to.

    Gary Bryant
    Dr.longshot
     
  7. warren

    warren Member

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    I agree with never using a debit card except for deposit and withdrawal, use a credit card never a debit.

    warren
     
  8. jbailey

    jbailey Active Member

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    I'd say no to debit cards and automatic withdrawals. You have no product protection and cannot dispute a payment with a debit card and getting automatic withdrawals stopped can be almost impossible without closing the checking account. All ongoing bills, utilities etc., can be made with a one time electronic payment monthly. All the other stuff put on a credit card that gives you cash back on purchases and can be paid electronically, in full, each month. You know where all your money goes and any unauthorized access to your accounts is fraud and you are insured by both the bank and the credit card company by law. Make it a mission in your life to collect interest, not pay interest. Always remember, never put money into anything that eats, dies, or rots while your sleeping.

    Jeff
     
  9. Dr.Longshot

    Dr.Longshot Banned Banned

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    Thanx Jeff

    Gary
     
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