If you’ve seen headlines or social media buzz about a $1,702 stimulus payment hitting bank accounts in July, you’re not alone. Thousands of Americans are asking the same question: “Is this a new check?” Some people are even checking their accounts daily, expecting a surprise deposit. But before you get your hopes up, here’s what you need to know — and the truth behind the number.
This payment isn’t a new stimulus at all. It’s actually tied to Social Security retirement benefits, and $1,702 is the average monthly amount many retirees are receiving in 2025 due to annual cost-of-living increases.
Let’s break it down in plain English.
What Is the $1,702 Payment People Are Talking About?
The $1,702 figure refers to the average monthly Social Security retirement benefit being paid to U.S. retirees in 2025. Thanks to the 8.2% cost-of-living adjustment (COLA) that went into effect in January 2025, most recipients saw their monthly checks rise — and the national average landed at about $1,702.
It’s important to understand that this isn’t a one-time stimulus or bonus check. This is your regular monthly retirement benefit if you’re receiving Social Security based on your earnings history.
So why are people calling it a stimulus? Likely due to confusion online and clickbait posts that make it seem like a new government bonus is being handed out. That’s not the case.
Who Gets the $1,702 — and How Much Will You Receive?
You’ll only receive the $1,702 amount if your individual Social Security benefit calculation equals that figure — and that depends on:
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How much you earned during your working years
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When you started claiming Social Security (early, full retirement age, or later)
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How long you worked and paid into the system
Some people will receive more than $1,702. Others may receive less — especially those who retired early or had lower lifetime earnings. This number is an average, not a fixed payout for everyone.
The bottom line: If you’re a retired worker already receiving benefits, you’re probably already receiving your version of the “$1,702 check” each month.
When Will the July 2025 Payment Arrive?
The Social Security Administration (SSA) does not send all payments at once. Instead, payments are made based on your date of birth. Here’s the July 2025 schedule:
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July 3: Retirees who began receiving benefits before May 1997, and anyone getting both SSI and Social Security
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July 10: If your birthday falls between the 1st and 10th
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July 17: If your birthday is between the 11th and 20th
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July 24: For birthdays 21st through 31st
Payments are usually made via direct deposit or Direct Express card. Paper checks may take longer depending on mail delivery times.
What About People on SSI or Disability?
If you’re receiving Supplemental Security Income (SSI), your payment is separate from this and typically issued on the 1st of each month. If you’re receiving SSDI (Social Security Disability Insurance) and your birthday falls into one of the ranges listed above, your payment will follow that same birthdate-based schedule.
What Should You Do If You Don’t See the Money?
If you were expecting your July payment and it didn’t show up:
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Check your “My Social Security” online account to confirm your payment date.
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Allow up to 3 business days for banks to process the deposit.
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If there’s still no payment, call the SSA directly at 1-800-772-1213 or visit your local office.
Delays are rare, but they can happen — especially with bank processing or incorrect account information.
Final Word: No, It’s Not a Surprise Stimulus — But It Is a Vital Lifeline
While some may be disappointed that this isn’t a new bonus check, the truth is that the $1,702 average monthly benefit is one of the highest ever paid to retirees — thanks to inflation adjustments meant to help seniors keep up with rising costs.
So yes, if you’re a Social Security recipient, a payment is likely coming your way this month — but it’s your regular benefit, not a surprise handout.
Stay informed, double-check your payment schedule, and be cautious of misinformation floating around online.
