April 13, 2021 – Veterans who are receiving their disability compensation through a prepaid debit card or paper check could have their funds directly deposited into their bank accounts. If a veteran opts in to direct deposit, they will receive their money automatically on time, every single time. Veterans who do not have a bank account and may need assistance can receive help from the Veterans Benefits Banking Program (VBBP). This program can assist veterans in obtaining a low or no cost account. The VBBP also provides veterans access to financial services with participating banks. The VBBP states they are partnered with the Association of Military Banks of America. These programs cater to our service members and their needs.
Reference: “Direct Deposit puts Veterans in control of benefit payments”, U.S. Dept. of Veterans Affairs, VAntage Point Official Blog of the U.S. Dept of Veteran Affairs, VA News Release, April 13, 2021