More than 50,000 Veterans have switched benefit payments to direct deposit

At the beginning of March, roughly 163,727 Veterans did not have a bank or credit union account. If this sounds like you or someone you know, VA’s Veterans Benefits Banking Program (VBBP) can help.

Direct deposit is easier, safer and more reliable than prepaid debit cards or paper checks. Every VBBP bank and credit union has fraud protection programs in place to ensure the safety of your money.

Benefit payments placed directly into a bank or credit union account allow you to get the benefits you have earned on time, every time. Through VBBP, Veterans can access federally-insured banking institutions that meet the unique needs of military personnel, Veterans and their families.

VA partnered with the Association of Military Banks of America (AMBA) and the Defense Credit Union Council (DCUC) to leverage their group of military-friendly financial institutions. Since the program’s launch in December 2019, more than 50,000 Veterans have signed up for VBBP.

More information on how to receive benefit payments through VBBP

Life comes with plenty of challenges, but banking shouldn’t be one of them. To identify participating banks and get more information about VBBP, please visit benefits.va.gov/VeteransBanking or veteransbenefitsbanking.org. If you already have a bank account and would like to have your federal benefits electronically deposited, you can call VA at 1-800-827-1000 and provide your account information or visit va.gov/change-direct-deposit/.

Learn more at our YouTube Channel about how direct deposit can help you safely get your VA benefits.

VA, AMBA and DCUC do not endorse any bank or credit union and you are not required to use a VBBP bank or direct deposit to receive monetary benefits.

Craig Coleman is a public affairs specialist with the Veterans Benefits Administration’s Office of Strategic Engagement.