For veterans who use more than one bank account—maybe getting GI benefits through a local bank, and disability compensation through a big nationwide bank—it’s time to consolidate. It doesn’t matter which one you choose, but choose one account for all your VA dealings.
Terrence Hayes, Veterans Administration Press Secretary, explains the reason for the change:
“This is because we want to protect veterans from fraud. That’s the main reason why we made this change,” Hayes said.
To find out whether you have more than one account, go to ebenefits.va.gov. The deadline to consolidate accounts is April 20, a little more than a week from now, though Hayes stresses that there will be a grace period.
“Even if veterans are unable to make the change by April 20, they will still receive their school payments,” said Hayes.
For more information, go to VA.gov/change-direct-deposit.
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