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Foreign Policy Analysis
Veterans Benefits Banking Program

Veterans Benefits Banking Program


Veterans are the backbone of our country and the Association of Military Banks of America (AMBA) is committed to serving those who have served. That’s why the Department of Veterans Affairs is partnering with AMBA to launch the
Veterans Benefits Banking Program or VBBP. To provide Veterans a safe, reliable, and
inexpensive way to receive and manage their VA monetary benefits. Many Veterans currently receive their VA
monetary benefits on prepaid debit cards or by paper checks
and some have experienced problems
using these payment methods or found it difficult to access
traditional banking products and services. The VBBP is an effort to offer all Veterans
an opportunity to deposit their benefit funds directly into existing or new accounts offered by participating AMBA member banks. Our Veterans who receive monetary benefits
should have as many financial management and services
options as possible. Participating VBBP banks will offer
eligible Veterans federally insured and regulated financial products, services, and education that can be tailored to their needs and the needs of their families. The VA remains committed to providing Veterans
with the benefits they have earned in a manner that honors their service. AMBA is a not-for-profit association of banks and related financial service providers that for over 60 years has worked to serve and
protect the financial future of military members, Veterans, and their families. The VA and AMBA are proud to provide this opportunity to connect Veterans with banks who understand their needs
and to ensure those who have served receive the highest levels of service in return. For any questions, please call the VA at their toll-free number: 1-800-827-1000. To learn more about the program, visit benefits.va.gov/banking
or veteransbenefitsbanking.org.

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