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    GI Bill Direct Deposits Must Be to Same Bank Account as Other VA Benefits by April 20

    GI Bill Direct Deposits Must Be to Same Bank Account as Other VA Benefits by April 20

    Student veterans who have their GI Bill benefits directly deposited into a different bank account than their other veterans' benefits will have to choose one account to receive all payments by April 20.

    The change is being made as part of the Department of Veterans Affairs' overall efforts to update the GI Bill payment system and is intended to curb fraud, a top VA official told reporters Wednesday.

    “Veterans have earned these benefits through their service to the nation, and ensuring they're safeguarded from those with malicious intent is a significant feature of this single account initiative,” Joshua Jacobs, the VA's under secretary for benefits, said in a conference call.

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    About 50,000 of the more than 800,000 veterans who use GI Bill benefits are expected to be affected by the change, Jacobs said, stressing that only GI Bill beneficiaries with multiple bank accounts on file with the VA will need to update their direct deposit information.

    For example, if a veteran gets their education benefits directly deposited into one bank account and disability benefits into a different bank account, they will now have to choose one account for both benefits.

    The department will be reaching out directly to those affected with text messages, phone calls and emails, with plans to send weekly reminders until the April 20 deadline….

    Continue Reading This Article At Military.com

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