The U.S. government has announced that direct deposit checks of $697 will be issued in October 2024 as part of various federal assistance programs aimed at providing financial relief. These payments are intended to help individuals and families cope with economic challenges, inflation, and rising costs of living. The checks will be disbursed primarily to low-income individuals, Social Security recipients, and those receiving Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI).

Eligibility Criteria

To receive the $697 direct deposit check in October 2024, individuals must meet certain eligibility requirements based on income, residency, and benefit status. Here’s a detailed look at the eligibility criteria:

1. Income Requirements: The payment is geared toward low- and middle-income individuals. Those earning below a certain income threshold will qualify for the full amount. This income threshold is typically determined by the Federal Poverty Level (FPL), which varies by household size. Generally, individuals who already qualify for federal assistance programs like SSI, SNAP, or Medicaid will be eligible.
2. Social Security Recipients: Individuals currently receiving Social Security benefits, including retirement, survivor, and disability benefits, will automatically qualify for the $697 check. This includes both SSI and SSDI beneficiaries.
3. U.S. Residency: The payment will be available to U.S. citizens or lawful permanent residents. Individuals must have filed a tax return for 2023, or their income must have been reported through federal benefits programs.
4. Other Federal Assistance Recipients: In addition to Social Security recipients, individuals who receive federal benefits through programs like Veterans Affairs (VA) or Temporary Assistance for Needy Families (TANF) may also be eligible for the payment.

Payment Date and Method

The $697 direct deposit checks will begin to be disbursed starting October 15, 2024. Payments will continue throughout the month, with most recipients receiving their funds by the end of October. Those who have set up direct deposit with the Social Security Administration (SSA) or other federal agencies will automatically receive their payments in their bank accounts.

For those who do not have direct deposit set up, the government will issue paper checks, though these may take longer to arrive. If you’re expecting a mailed check, you should allow for additional processing time, especially if the postal service experiences delays.

When you will receive the payment?

For SSDI recipients, the date of birth determines when payments are received in October 2024. Those born between the 1st and 10th will get their payment by October 9, those born between the 11th and 20th will get it by October 16, and individuals born from the 21st to 31st will receive theirs by October 23. While date of birth affects the payment schedule, it should not cause any issues with receiving the $697 check, as long as eligibility is met and all necessary information is updated with the relevant agencies.

How to Claim Your Payment

Eligible individuals do not need to apply separately for this payment. If you are already enrolled in Social Security or other qualifying federal assistance programs, your information will be used to automatically issue the payment. The following steps will ensure you receive your payment without delays:

1. Update Banking Information: If you have recently changed your bank account or address, you should notify the SSA or relevant agency immediately. Ensuring your direct deposit information is current will help prevent delays in receiving the payment.
2. Tax Filings: Individuals who have not filed their 2023 tax returns should do so as soon as possible. The IRS will use tax filings to verify income levels and eligibility, so having your most recent information on file is crucial.
3. Verify Eligibility: If you believe you qualify but do not receive the payment by November 2024, you should contact the SSA or IRS to verify your eligibility and ensure there are no errors in processing your payment.

Key Facts About the $697 Payment

• The $697 payment is non-taxable. Recipients will not have to pay taxes on this amount when filing their 2024 tax returns.
• The payment is part of the government’s ongoing response to economic challenges, with a focus on supporting low-income individuals and those relying on federal benefits.
• Some individuals may receive slightly higher or lower amounts, depending on their income level, state of residence, and other personal circumstances.
• Payments are issued based on income information from tax filings and benefit data. Be sure to check that your details with the IRS or SSA are up to date.

Conclusion

The $697 direct deposit checks being issued in October 2024 will provide vital support to millions of Americans struggling with rising living costs. By meeting the eligibility criteria, ensuring your tax filings are current, and keeping your direct deposit information up to date, you can expect to receive this payment in a timely manner. These checks are part of the U.S. government’s broader effort to support vulnerable populations during challenging economic times.