{"id":31193,"date":"2024-02-22T16:28:50","date_gmt":"2024-02-22T16:28:50","guid":{"rendered":"https:\/\/one.sightlinemg.com\/federaltimes\/uncategorized\/2024\/02\/22\/va-will-no-longer-send-veterans-benefits-to-multiple-bank-accounts\/"},"modified":"2026-08-20T14:00:53","modified_gmt":"2026-08-20T14:00:53","slug":"va-will-no-longer-send-veterans-benefits-to-multiple-bank-accounts","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/federaltimes\/management\/pay-benefits\/2024\/02\/22\/va-will-no-longer-send-veterans-benefits-to-multiple-bank-accounts\/","title":{"rendered":"VA will no longer send veterans\u2019 benefits to multiple bank accounts"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Veterans will no longer be able to use multiple bank accounts for different <a href=\"https:\/\/www.militarytimes.com\/news\/pentagon-congress\/2024\/02\/09\/va-to-ease-benefits-rules-for-vets-exposed-to-agent-orange-in-the-us\/\" target=\"_blank\">Veterans Affairs benefits<\/a> under new anti-fraud measures being rolled out by department officials over the next two months.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The move is expected to affect about 50,000 current <a href=\"https:\/\/www.militarytimes.com\/veterans\/2024\/02\/20\/student-vets-seek-mental-health-care-more-often-than-military-peers\/\" target=\"_blank\">GI Bill users<\/a> who also receive other veterans stipends, but VA leaders are promising they will not cut off benefits to anyone as a result of the changes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Instead, if veterans fail to consolidate their bank accounts by April 20, department processors will begin sending all of the benefits to a single account. Still, such a move could cause <a href=\"https:\/\/www.militarytimes.com\/veterans\/2023\/11\/03\/va-pauses-pension-debt-collections-after-discovery-of-system-error\/\" target=\"_blank\">significant financial problems<\/a> for individuals expecting to find the money in a specific account to cover bills and expenses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Officials said they will spend the next two months aggressively contacting the thousands of student veterans potentially impacted by the new rule, and explaining the reasons behind it.<\/p>\n\n\n\t<aside class=\"smg-interstitial-link wp-block-smg-interstitial-link\">\n\t\t<a href=\"https:\/\/one.sightlinemg.com\/militarytimes\/veterans\/2024\/02\/20\/student-vets-seek-mental-health-care-more-often-than-military-peers\/\" class=\"smg-interstitial-link__inner\">\n\t\t\t\t\t\t\t<div class=\"smg-interstitial-link__media\">\n\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"176\" src=\"https:\/\/one.sightlinemg.com\/wp-content\/uploads\/2026\/08\/AP22125600602496.jpg.jpg?w=300\" class=\"smg-interstitial-link__image wp-post-image\" alt=\"\" \/>\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"smg-interstitial-link__content\">\n\t\t\t\t<span class=\"smg-interstitial-link__kicker\">Related<\/span>\n\t\t\t\t<h3 class=\"smg-interstitial-link__title\">Student vets seek mental health care more often than military peers<\/h3>\n\t\t\t\t\t\t\t\t\t<p class=\"smg-interstitial-link__excerpt\">Researchers say the higher medical care usage rate reflects the stress on student vets and their willingness to accept help.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/a>\n\t<\/aside>\n\t\n\n\n<p class=\"wp-block-paragraph\">\u201cMaintaining a single account for the payment of this benefit provides an added layer of security against the increasing threats of fraud we experience as part of our daily lives,\u201d <a href=\"https:\/\/www.militarytimes.com\/veterans\/2023\/02\/17\/va-benefits-nominee-promises-more-free-help-for-veterans-filing-claims\/\" target=\"_blank\">VA Under Secretary for Benefits Joshua Jacobs<\/a> told reporters on Wednesday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cVeterans have earned these benefits through their service to the nation. And ensuring they\u2019re safeguarded from those with malicious intent is a significant feature of this single account initiative.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">VA officials said veterans may use different bank accounts for different benefits for a variety of reasons, including ease of bill paying and simply forgetting to update old accounts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But Jacobs warned that such an arrangement makes it easier for fraud or theft, and harder for VA officials to provide oversight of the funds. He said the changes come as \u201cwe are working to modernize our payment systems so we can protect the integrity of the veterans benefits\u201d across multiple systems.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">VA has enacted similar bank account mandates in the past, including in 2017, when Veteran Readiness and Employment benefits were required to be sent to the same place as medical stipend payouts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Veterans impacted by the change can update their bank records or find out more information about the new policy <a href=\"https:\/\/www.va.gov\/change-direct-deposit\/\" target=\"_blank\">through the department\u2019s website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The change is expected to affect about 50,000 veterans currently using multiple accounts for their federal stipend payouts.<\/p>\n","protected":false},"author":7,"featured_media":98834,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_meta-robots-noindex":"","_yoast_wpseo_meta-robots-nofollow":"","_yoast_wpseo_canonical":"","_acf":"","_yoast_wpseo_primary_category":69,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_smg_distribution_targets":[]},"categories":[11,56,31,15,69],"tags":[8442],"coauthors":[3294,3267],"class_list":["post-31193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fedlife","category-financial-planning","category-home","category-management","category-pay-benefits","tag-gi-bill"],"acf":{"subheadline":"","legacy_arc_id":"ND4UZGAHV5EU3KZLH4WOA46C2A","arc_canonical_url":"\/veterans\/2024\/02\/22\/va-will-no-longer-send-veterans-benefits-to-multiple-bank-accounts\/","remove_feature_photo":false,"is_sponsored":false,"subtype":"","redirect_url":"","disable_inline_ads":false,"native_logo_pretext":"Presented 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