Who is eligible for the new Federal payment of $697 on Black Friday? Social Security unveils it

The Federal payment that is due on November 29 will help people who need to buy important things on Black Friday a lot.

For this monthly check or direct deposit to be sent to you, you must be getting Supplemental Security Income. In other words, SSI. In other words, you don’t qualify if you’ve never applied and then been turned down.

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People who want to get SSI payments must have a low income and few or no other resources. Because of this, it is a benefit for the Federal Government to help Americans who are having a hard time with their finances.

One more condition for SSI payments

If you are getting SSI on November 29, you must still be able to get it. In other words, you must be blind, have a disability, or be at least 65 years old. This means that there are a lot fewer people who can get money from the SSI program.

This makes you wonder why the SSI payment is due on November 30, 2023, instead of December 1, 2024. Remember that the November deposit or check was sent out on November 1.

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It doesn’t make sense to send two checks in the same month. There is no reason for the Social Security Administration to pay you on Black Friday; they just didn’t want you to have the money on such a busy shopping day. Sunday, December 1 is not a business day.

Will the SSI payment on Black Friday be the last one in 2024?

To be exact, it will be the December payment, but it won’t be the last one set for December. The payment for January 1 can’t be sent on January 1 because it is a Federal Holiday.

So, it will be sent to the bank accounts of people who get SSI on December 31, 2024. Remember that the SSI check you get on Black Friday and the one you get on December 31 are for the following month.

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Planning your monthly budget and being smart about how you spend it will be very important. The 2025 COLA increase will not be part of the Black Friday payment. The SSI check that’s due on December 31 will still come.

These people can expect a 2.5% boost. The amount will be around $697, but each person could get as much as $967.

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