Veterans Benefits Banking Program

Banking FAQs

Find information about the VBBP, our participating banks and credit unions, and other general banking frequently asked questions.

Neither VA nor AMBA endorses any particular banks, credit unions, products or services, or requires Veterans or other beneficiaries to use them.

What’s the difference between VBBP and Direct Deposit?

VBBP is a program to help Veterans, beneficiaries, and caregivers access the financial system and enroll in Direct Deposit for their VA benefit payments. Direct Deposit is a form of electronic funds transfer (EFT) that agencies like the VA use to automatically transfer benefits to a checking or savings account without using paper checks. Direct Deposit is safer and more reliable than checks.

Are financial institutions associated with AMBA or the Defense Credit Union Council (DCUC) the only financial institutions eligible to participate in VBBP?

No. Although Veterans with an account at any bank or credit union may use Direct Deposit, VBBP participating banks and credit unions have experience dealing with the unique financial challenges facing military and Veteran communities. VBBP participating institutions have committed to open accounts for any qualified Veterans, VA beneficiaries, or caregivers. For those Veterans, beneficiaries, and caregivers who may not initially qualify to open an account, VBBP participating institutions have pledged to help them take the necessary steps to eventually qualify.

What if I already have a bank or credit union account and want to set up direct deposit for my VA benefits?

The fastest way to set up Direct Deposit with VA is to call VA’s toll-free number at 1-800-827-1000 and work with one of the agents to enroll (if you use a Telecommunications Device for the Deaf, the Federal number is 711). To enroll in Direct Deposit online, visit, then click the “Sign In or Create an Account” button.

Are VBBP participating banks and credit unions regulated and federally insured?

Yes, all VBBP participating financial institutions are regulated. All VBBP participating banks are insured by the Federal Deposit Insurance Corporation (FDIC) and all VBBP participating credit unions are insured by the National Credit Union Administration (NCUA).

What banks or credit unions can I work with?

You can set up Direct Deposit to manage your VA benefits at any bank or credit union. Banks and credit unions taking part in VBBP are very familiar with the financial challenges and needs of service members, Veterans, and their families. As such, they understand and can provide the kinds of financial services that are appropriate for Veterans based on their individual circumstances.

What is the process for finding a VBBP bank or credit union?

These links to banks and credit unions will provide you with information about each VBBP participating financial institution and assist you with choosing one that meets your needs.

What if I had issues in the past when applying for an account?

Each financial institution participating in VBBP is committed to helping Veterans, beneficiaries, and caregivers find banking services that fit their needs. Please reach out to any of the participating banks or credit unions – they are here to help.

Are banks and credit unions participating in VBBP located in communities where most Veterans live?

VBBP participating financial institutions include large and small national- and state-chartered banks and credit unions. Many VBBP banks and credit unions operate on military installations, and all are insured by either the FDIC or the NCUA. VBBP participating credit unions have “field of membership” criteria that Veterans must meet before becoming customers. Some credit unions may accept Veterans wherever they live while others may accept only Veterans who live in the geographic area served by the credit union. Visit the VBBP website to find a financial institution that best fits your needs.

What does obtaining a bank or a credit union account get me?

The services available to account holders vary among financial institutions. One of the reasons we included many banks and credit unions in VBBP is because we want Veterans to have choices. Veterans can select financial institutions based on their services and attributes – and how those services and attributes align with their individual banking needs.

How does VA oversee AMBA- and VBBP-affiliated financial institutions to ensure Veterans are receiving appropriate service?

Each bank and credit union participating in VBBP is regulated by federal and/or state banking regulators and insured by the FDIC or the NCUA. The VA and AMBA will continue to seek feedback from Veterans to resolve any issues with VBBP-participating banks or credit unions. A financial institution’s participation in VBBP will be based on their safety, reliability, and customer service.

What’s the difference between VBBP and Bank On?

In addition to participating in VBBP by offering free checking with no minimum balance accounts to Veterans, some banks and credit unions also offer Bank On-certified accounts to their customers, including Veterans. Although VBBP accounts and Bank On accounts are similar, they are not identical. For more information, click here.

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