The pension calendar for August is conditioned this year by the weekend. Some entities advanced the payment to Friday the 21st, others will make it this Monday the 24th, and a third group maintains the payment for Tuesday the 25th.
The Social Security does not require all banks to advance the money on the same date. Each entity establishes its commercial policy and can anticipate the amount before receiving the official transfer.
This explains why two pensioners with the same benefit may receive payment on different days depending on where they have the deposit domiciled.
Banks that already paid on Friday the 21st
Bankinter and Unicaja advanced the payment of pensions to Friday the 21st of August.
Customers of these entities should already have the money. The exact time at which the transaction appears may vary depending on internal processes and the type of account.
If the deposit does not appear, it is advisable to first check the latest transactions and verify if the pension has been registered with a different value date.
CaixaBank and Santander pay on Monday the 24th
CaixaBank and Banco Santander are scheduled to make the payment this Monday the 24th of August.
The deposit may appear from early morning, although not all accounts are updated simultaneously. A difference of several hours during the same day does not necessarily imply an incident.
Customers do not need to request the advance. The bank automatically applies its calendar to the domiciled pensions that meet its usual conditions.
The banks that pay on Tuesday the 25th
BBVA, ING, Abanca, Banco Sabadell, Ibercaja, and Laboral Kutxa place the main payment on Tuesday the 25th of August.
The 25th is the most widespread commercial date among Spanish entities, although the timing of the deposit may change when it coincides with a Saturday, Sunday, or holiday.
Those who have the benefit domiciled in one of these entities should not consider the payment delayed on Monday. Its expected date arrives one day later.
Why banks pay before Social Security
The regulations establish that pensions must be available to their beneficiaries on the first business day of the month in which the payment is made and, at most, before the fourth calendar day.
The deposits that appear around the 25th of the previous month are advances from the financial entities. The bank advances the money based on the continuity of the benefit and recovers it when it receives the corresponding funds.
Not all pensioners have that advance guaranteed. It may depend on whether the benefit is direct-deposited, on the relationship with the bank, and on its commercial conditions.
What to do if the pension does not appear
The first step is to check the date announced by the entity. If the bank pays on the 25th, there is no issue because the deposit does not appear on Monday the 24th.
Once the expected date has passed, the pensioner should consult with their bank if there is a hold, a change of account, or a technical problem.
If the entity confirms that it has not received the order, the status of the benefit can be reviewed on the electronic headquarters of the Social Security or contact the National Institute of Social Security.
It should also be checked if the account number has been recently changed. A change communicated after the deadline may cause the deposit to still arrive at the previous account.