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Electronic Transfer Accounts

Code: TB-0700.2100-190

Financial institutions that allow recipients of federal government payments who do not already have checking or savings accounts to open a low-cost account which allows them to automatically receive Social Security payments, Supplemental Security Income (SSI) payments, veterans benefits, Civil Service wage salary or retirement benefits, military wage salary or retirement payments, Railroad Retirement Board payments, Department of Labor Black Lung benefits or other federal benefits on a direct deposit basis rather than waiting for a check in the mail. ETA account holders may make a minimum of four cash withdrawals from the service counter or ATM machine of their financial institution. The ETA is available through participating federally insured financial institutions including banks, savings and loans, and credit unions.

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