Fountain Valley News - Your Hometown Community Newspaper

"Unbanked" veterans

 

Last updated 12/22/2020 at 4:33pm



They call them “the unbanked,” people who don’t use banks for any reason. At this point there are 250,000 veterans without bank accounts. Without one, they can receive their benefits only through a prepaid debit card or a paper check.

Last year, the Department of Veterans Affairs established the Veterans Benefits Banking Program, and 25,000 veterans so far have signed up, mostly because of the convenience, safety and money-saving aspects.

Having a bank account can save you a trip to the convenience store to buy a money order ... as well as the fee to pay for it. Just sit at home and...



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