A common question we receive is: "how do I change the bank account into which my disability payments are direct deposited?" That's a good question.
Changing VA direct deposit account information is quick and easy.
The easiest and fastest way to update your direct deposit information is online, using the VA's website. In fact, the VA has detailed instructions on how to update the direct deposit information online.
In case their information is difficult to understand, here is a breakdown:
Done! Editing your direct deposit information for your compensation payments is that easy.
What if you also receive GI Bill payments, will these actions update where those payments go?
Short answer - nope!
To update your direct deposit information for GI Bill payments you will need to go to VA's eBenefits website and do pretty much the same thing. Here are the detailed instructions.
To change your direct deposit information, fill out and send the SF-1199a form to the VA. The form is available from the U.S. Treasury's website. You should complete it and mail it to the VA. The directions are on the form. After completing the form you need to contact the VA at 800-827-1000 to determine the correct address to submit it to.
To change your direct deposit information by telephone, calling 800-827-1000 (TTY 711). This telephone line is open from 0800 - 1700 M - F Eastern Time. You may have to wait on hold for a while.
If you're overseas, call 918-781-7550.
No matter how you update your direct deposit information, make sure you don't close your old account until you see new payments going in to the new account. You don't really want to face the hassle of trying to get back money that has been sent to a closed bank account, it can take months.
The Veterans Benefits Banking Program (VBBP) can help you locate a veteran friendly bank or credit union that. The VBBP is designed to help veterans and beneficiaries open bank accounts even though they may have poor credit, legal history or other factors that may have prevented them from having a bank account.
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Related Topics: Personal Finance VA Compensation GI BillJim Absher is Military.com's former benefits editor and columnist. He joined the Navy to see the world and later realized the world is two-thirds water. He also worked for the Department of Veterans Affairs in field offices and Washington, D.C. before coming to Military.com in 2015. Read Full Bio
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