Stay Under the $2,000 Resource Limit and Keep Your Benefits Safe
Introduction: Why Does SSI Have a Bank Account Limit?
If you receive Supplemental Security Income (SSI), you may already know that having too much money in your bank account could cause you to lose your benefits.
SSI is a needs-based program, meaning the Social Security Administration (SSA) places strict limits on how much money you can have in savings.
But what happens if your account goes over $2,000? Can you save money without losing SSI? The good news is yes—but you must be careful.
In this guide, we’ll cover:
✅ What the SSI bank account limit is and what counts toward it
✅ What happens if you go over the $2,000 limit
✅ Legal ways to save money while keeping SSI benefits
✅ How to spend down excess funds before SSA reviews your balance
✅ How Purple helps track your SSI balance to prevent overages
Let’s get started!
Understanding the $2,000 Bank Account Limit for SSI
SSI has a strict asset limit because it’s designed for people with limited income and resources.
SSI Resource Limits in 2025
✔ $2,000 for individuals
✔ $3,000 for married couples
If your bank balance goes over these limits at the start of a month, SSA may suspend or terminate your SSI benefits.
💡 Note: SSDI (Social Security Disability Insurance) does not have a resource limit—only SSI does.
What Counts Toward the SSI $2,000 Limit?
To determine if you qualify for SSI, the SSA considers all of your "countable resources."
✅ Counted as a Resource (Affects SSI Eligibility):
Money in your bank account (checking & savings)
Cash on hand
Stocks, bonds, and investments
Extra vehicles (other than your primary car)
Land or property (other than your home)
❌ Not Counted as a Resource (Won’t Affect SSI):
Your primary home and one vehicle
Household items, furniture, and clothing
ABLE accounts (up to $100,000)
Burial plots and funeral expense funds (up to $1,500)
💡 If you receive an inheritance or financial gift, SSA will count that money and it may put you over the limit.
What Happens If You Exceed the SSI Limit?
If your bank balance goes over $2,000 at the start of the month, SSA may:
❌ Reduce your SSI payment (if the extra money is considered income)
❌ Suspend your SSI benefits until you spend down the excess
❌ Terminate your benefits if you repeatedly exceed the limit
💡 You must report excess funds to SSA within 10 days to avoid penalties or overpayment debt.
How to Avoid Losing SSI by Staying Under the Limit
If your bank balance gets too high, you can take action before SSA reviews your account.
1. Spend Down Excess Funds Before the End of the Month
If your balance is over $2,000 before the next month starts, consider spending down on necessary expenses like:
✔ Rent or mortgage payments
✔ Utility bills
✔ Medical expenses
✔ Home or car repairs
✔ Groceries and personal items
💡 SSA only looks at your balance at the start of each month—spending funds before then can keep you eligible.
2. Use an ABLE Account to Save Over $2,000 Without Losing SSI
An ABLE account (Achieving a Better Life Experience) lets SSI recipients save money beyond the $2,000 limitwithout losing benefits.
✔ You can save up to $100,000 in an ABLE account
✔ Money in an ABLE account does not count toward SSI limits
✔ Can be used for housing, medical costs, transportation, and more
💡 Purple will soon integrate ABLE savings tools to help manage your SSI eligibility easily.
3. Prepay Expenses or Purchase Non-Countable Items
If you need to reduce your bank balance, consider spending money on things that don’t count as resources, such as:
✔ Paying rent or bills in advance
✔ Buying groceries, clothing, or household items
✔ Paying for transportation costs (bus passes, gas, or car maintenance)
💡 Avoid giving away money as a "gift"—SSA may count that against you!
4. Consider a Special Needs Trust (SNT) for Large Sums of Money
If you receive a large sum of money, such as:
✔ An inheritance
✔ A lawsuit settlement
✔ A financial gift from family
Placing the funds into a Special Needs Trust (SNT) allows you to keep your money without losing SSI benefits.
✔ Funds in an SNT do not count toward SSI limits
✔ Money can be used for medical expenses, home modifications, and education
✔ Medicaid payback rules apply for First-Party SNTs
💡 Best Strategy? Use an ABLE account for everyday savings and an SNT for large financial gifts or inheritances.
How Purple Helps Track Your SSI Balance & Prevent Overages
Since staying under the $2,000 limit is critical, Purple provides banking tools designed for SSI recipients, including:
💜 Balance Alerts – Get notified when your bank balance is close to $2,000
💜 Spending Insights – See where your money is going each month
💜 EBT & Benefit Tracking – Monitor SNAP, Medicaid, and SSDI payments alongside SSI
💜 Smart Budgeting Tools – Plan your expenses to avoid accidental overages
💡 With Purple, you can manage your finances while keeping your SSI intact.
FAQs About SSI Bank Account Limits
Can I Have a Savings Account on SSI?
Yes, but the total balance of all your bank accounts must stay under $2,000 to keep SSI benefits.
What If My Bank Balance Goes Over $2,000 for One Day?
If your balance is over $2,000 at the start of the month, it may affect your benefits. Try to spend down before the month ends.
Does SSI Check My Bank Account?
Yes, SSA uses bank account verification to check balances before approving and during periodic reviews.
What Happens If I Get a Lump Sum of Money?
You must spend it, transfer it into an ABLE account, or put it in a Special Needs Trust (SNT) to keep your SSI benefits.
Can I Save More Than $2,000 While on SSI?
Yes! Use an ABLE account (up to $100,000) or a Special Needs Trust to legally save more money.
Conclusion: Manage Your Bank Balance Wisely to Keep Your SSI Benefits
✅ Stay under the $2,000 SSI bank limit to keep your benefits.
✅ Spend down excess funds before the end of the month to avoid overages.
✅ Use an ABLE account or Special
Needs Trust to save money safely.
✅ Track your bank balance with Purple to prevent accidental loss of benefits.
💜 Sign Up for Purple to Manage Your SSI & Stay Under the $2,000 Limit!