No, you can use direct deposit at any bank, savings and loan or credit union. If you open a new account, you can sign up for Direct Deposit by:

• obtaining a password and starting or changing direct deposit online (Social Security benefits only), or
• contacting your bank, credit union or savings and loan association, or
• calling Social Security toll-free at 1-800-772-1213 (TTY 1-800-325-0778), or
• filling out a Direct Deposit Sign Up Form and taking it to your financial institution or Social Security office. The form is available in PDF format for downloading and completion. (To read and print the form, you must have Adobe Acrobat Reader software installed on your computer.)

When you contact Social Security, be sure to have your Social Security number and a personal check or statement from your new account. The Social Security Administration will need information from these documents to start your new direct deposit. Also, Social Security recommends that you wait until deposits are going to your new bank, savings and loan or credit union before you close your old account.