Westerly, R.I. – November 10, 2026 -- Veterans and their families in Rhode Island can now receive VA benefits by direct deposit at Washington Trust, which has joined the Veterans Benefits Banking Program. It is one of only two community banks with participating branches in the state.
The program is a partnership between the U.S. Department of Veterans Affairs and the Association of Military Banks of America. It serves veterans, beneficiaries, caregivers and survivors who receive VA monetary benefits, and it also offers financial education resources and free financial counseling.
Participating banks must offer a low- or no-cost checking account
Washington Trust's qualifying account is Simply Free Checking. The bank also offers financial wellness resources, VA loan programs and a full range of personal banking services for veterans and their families. Local bankers provide in-person guidance at its branches.
Direct deposit replaces paper checks and prepaid cards
The program was established in part to help veterans avoid fraud and gain access to federally insured financial institutions. Participating banks commit to helping veterans receive their VA benefits through direct deposit, which the program describes as a safer alternative to paper checks and prepaid cards.
Washington Trust Chairman and CEO Ned Handy said veterans "deserve access to affordable banking services and a safe way to receive their benefits."