VA Announces Changes To Direct Deposit For Veteran Benefits Compensation

PHOENIX – A major change is coming in April 2024 for Veterans who have their U.S. Department of Veterans Affairs (VA) compensation and G.I. Bill benefits deposited into multiple bank accounts.

The VA announced that beginning on April 20th, they will default all payments to the one direct deposit account that receives VA compensation payments. The shift is part of the G.I. Bill modernization, as the VA migrates from an old database to a more modern system.

“The Arizona Department of Veterans’ Services (ADVS) understands that historically, Veterans and especially those that are students have their benefits routed to separate bank accounts,” said ADVS CEO Dana Allmond. “However, this change by the VA to direct deposit all compensation into one account will help protect our Veterans against fraud.”

The VA is requesting Veterans to choose their single account by the April 20th deadline.

The easiest way to update direct deposit information is through https://www.va.gov/change-direct-deposit/.

• Sign into VA.gov with a verified Login.gov or ID.me account.
• Go to the Direct Deposit information section of your VA.gov profile.
• Check their direct deposit information for all benefit payments to make sure the same account is listed for all.
  • There will be a box with direct deposit information for education benefits and a box for the benefits you receive.
  • If the accounts in both boxes don’t match, they must update the information to be the same bank account for both VA benefits.
  • If they currently receive G.I. Bill payments by check, they must add their direct deposit information in the education benefits section of the VA.gov profile.