VBBP Participating Banks

The VBBP is a partnership between the U.S. Department of Veterans Affairs and AMBA (Association of Military Banks of America) that allows veterans receiving VA benefits through direct deposit to access low-cost or fee-free checking accounts offered by participating financial institutions.

These accounts remove common barriers to banking by offering:

• No monthly maintenance fees
• No minimum balance requirements
• Access to standard checking account services such as debit cards, online banking, and electronic payments (available features may vary by participating institution)

If you're looking for VBBP participating banks, this directory will help you identify the best option for your location and banking needs.

Top 5 VBBP Banks Compared 

Below is a comparison of some of the most widely available VBBP participating banks and our picks for the best ones.

*Includes official and partner network ATMs

Bank of America VBBP Account

Bank of America offers one of the largest banking networks in the United States, with thousands of branches and over 16,000 ATMs.

Pros

• Extensive national branch coverage
• Highly rated mobile banking app
• Strong digital tools, including Zelle integration

Cons 

• Customer service experiences have been reported to vary between branches

Best for: Veterans who travel frequently or want access to branches nationwide.

Wells Fargo Veterans Opportunity Checking

Wells Fargo participates in the VBBP program and offers broad national coverage.

Pros

• Extensive branch and ATM access
• Strong digital banking features

Cons

• Large corporate bank with variable branch service experiences.

Best for: Veterans who prefer in-person banking with a large nationwide bank.

Navy Federal Credit Union VBBP Account

Navy Federal Credit Union is one of the most widely used military-focused credit unions, with strong digital banking and a large ATM footprint.

Pros

• Large ATM access and strong day-to-day usability.
• Excellent mobile banking tools.
• Member-focused service model compared to for-profit banks.

Cons

• Branch locations are not as widespread as those of the biggest national banks.

Best for: Military community.

Armed Forces Bank VBBP Account

Armed Forces Bank is a military-focused bank with locations on bases, designed for service members, veterans, and military families.

Pros

• Convenient access to many military installations.
• Familiarity with military banking needs.
• Broad ATM access through partner networks.

Cons

• Physical branch access is strongest near installations, not everywhere.

Best for: Base access.

Varo Bank VBBP Account

Varo is an online-only bank for veterans who prefer digital-first banking without branches. Despite being an online-only bank, it is FDIC-insured. 

Pros

• App-first experience with modern mobile banking features.
• Large surcharge-free ATM access through partner networks.
• Good fit if you rarely need in-person banking.

Cons

• No physical branches.
• Cash deposits can be less convenient than branch-based banks.

Best for: Online banking.

Complete List of VBBP Participating Banks

The following financial institutions participate in the Veterans Benefits Banking Program and offer fee-free accounts for veterans receiving VA benefits.

VBBP Participating Banks

All participating banks must offer accounts that meet the VBBP program requirements.

However, branch availability, ATM networks, and digital banking tools vary by institution, which is why many veterans compare options before opening an account.

How to Find VBBP Participating Banks Near You

The easiest way to locate VBBP participating banks is to use the VA's official search tools.

You can:

1. Visit the VBBP page on the VA website.
2. Search participating banks by ZIP code.
3. Check the bank’s website for local branch locations.

When contacting a bank, ask specifically about a “Veterans Benefits Banking Program account” or “VBBP account.” Some branch employees may not immediately recognize the program name.

What is the Veterans Benefits Banking Program?

The VBBP is a partnership between the U.S. Department of Veterans Affairs and AMBA (Association of Military Banks of America) that allows veterans receiving VA benefits through direct deposit to access low-cost or fee-free checking accounts offered by participating financial institutions.

These accounts remove common barriers to banking by offering:

• No monthly maintenance fees
• No minimum balance requirements
• Access to standard checking account services such as debit cards, online banking, and electronic payments (available features may vary by participating institution)
• Secure direct deposit of VA benefits

Unlike military-specific credit unions, VBBP participating banks include large national, smaller regional, and credit union institutions so that veterans can access branches, ATMs, and digital banking tools through a mix of nationwide, regional, and credit union banks (availability will depend on where you live and which institution you choose).

The initiative was launched in 2019 as part of a federal initiative to expand access to safe, affordable banking for veterans. The program connects veterans who receive VA benefits with financial institutions willing to offer basic checking accounts with no monthly fees and no minimum balance requirements.

Instead of forcing veterans to rely on check-cashing stores or prepaid cards with high fees, the program ensures they can access standard banking services through trusted institutions.

Key goals of the VBBP include:

• Reducing the number of unbanked or underbanked veterans
• Preventing veterans from paying high fees to access their benefits
• Providing access to mainstream financial institutions
• Supporting financial stability through direct deposit and digital banking tools

Eligibility extends beyond veterans to include VA beneficiaries and caregivers who receive VA benefit payments via direct deposit.

The program also includes access to free financial counseling through participating partners, which can help beneficiaries build budgeting habits and avoid predatory financial services.

Participating banks agree to provide accounts that meet minimum program standards so veterans can receive their benefits safely and affordably.

Your Next Step With the Veterans Benefits Banking Program

The Veterans Benefits Banking Program exists because you've earned better than paying fees just to access your own money. Whether you choose a large national bank for convenience, a military-focused institution that understands your background, or an online bank that fits your lifestyle, there's a VBBP participating bank designed to work for you.

Opening an account takes minutes, costs nothing, and puts your VA benefits directly where they belong: in a safe, fee-free account that works as hard as you do. If you've been putting it off, there's no better time to make the switch.