How to Open a Bank Account While on SSI or SSDI

A step-by-step guide for people on disability benefits

Introduction: Can I Open a Bank Account While on Disability?

If you receive Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI), you might be wondering:

🏦 Can I have a bank account and still get my benefits?

🏦 Will my savings or checking balance affect my eligibility?

🏦 What kind of account is safest for someone on SSI or SSDI?

The short answer:

✔ Yes, you can absolutely open and use a bank account while receiving disability benefits.

✔ SSDI has no resource limit—so there’s no restriction on savings.

✔ SSI has a $2,000 resource limit, so you need to choose and manage your account carefully.

In this post, we’ll break down:

✅ Which disability benefits allow a bank account

✅ What kinds of accounts are safest for SSI

✅ How to open an account (step-by-step)

✅ What to watch out for to avoid losing benefits

✅ How Purple is designed for people on SSI and SSDI

1. Yes, You Can Have a Bank Account on Disability

Opening a checking or savings account does not disqualify you from receiving disability benefits—in fact, the Social Security Administration (SSA encourages direct deposit for all SSI and SSDI payments.

But the rules differ depending on what type of benefit you receive:

✅ If You’re on SSDI: No Resource Limit

• You can have any amount of money in your bank account

• There are no limits on how much you can save

• Your eligibility is based on work history, not financial need

💡 SSDI recipients can open any type of bank account with no restrictions.

⚠️ If You’re on SSI: $2,000 Limit

• You can still open a bank account

• But your total resources (including your bank balance) must stay below:

  • $2,000 for an individual

  • $3,000 for a couple

💡 SSA checks your bank balance, so it’s important to track what’s in your account at the end of each month.

2. What Kind of Account Should I Choose?

💳 Best Option: A Disability-Friendly Checking Account

Look for a bank account that offers:

• No minimum balance

• No monthly fees

• Direct deposit support

• Clear balance tracking

• Optional spending controls

💜 Purple was built with all of this in mind—and adds extra protections specific to SSI/SSDI recipients (more on that below).

❌ What to Avoid

• Accounts that charge overdraft or maintenance fees

• Accounts that make it hard to track your balance in real time

• Joint accounts (unless absolutely necessary), as your partner’s assets may count toward your resource limit

💡 Avoid accounts that make it easy to accidentally go over the SSI limit.

3. How to Open a Bank Account While on Disability (Step-by-Step)

✅ Step 1: Choose Your Bank or Financial App

Look for:

• Online banks or fintech platforms that specialize in disability-friendly tools (like Purple)

• Credit unions with low fee accounts

• Banks that allow ABLE account integrations (if you use one)

✅ Step 2: Gather Your Documents

You’ll typically need:

• A government-issued photo ID (driver’s license, state ID, or passport)

• Your Social Security number

• Proof of address (lease, utility bill, or government mail)

💡 You do not need to prove your income or benefits to open most accounts.

✅ Step 3: Set Up Direct Deposit (Optional but Recommended)

You can have your SSI or SSDI benefits deposited directly into your account. To do this:

• Use SSA Form 1199A or

• Set it up directly through your my Social Security account at SSA.gov

💡 With Purple, you get a direct deposit form with your account info included—ready to submit to SSA.

4. How to Avoid Losing SSI When You Have a Bank Account

If you’re on SSI, follow these tips:

✅ Monitor your balance daily or weekly

✅ Stay under the $2,000 resource limit at the end of each month

✅ Spend down any excess funds if your balance is getting close

✅ Use an ABLE account if you want to save more than $2,000

📌 In 2025, you can save:

• $19,000 per year in an ABLE account

• + $15,060 more through ABLE to Work (continental U.S.)

💜 Purple helps you link and track ABLE contributions in one place.

5. Why Purple Is Built for People on Disability

Purple isn’t just a debit card—it’s a tool built by and for the disability community.

💜 Track Your SSI or SSDI Deposits – Know when your check hits

💜 Stay Under Resource Limits – Get alerts if you’re close to the $2,000 cap

💜 Access ABLE Account Tools – Save safely and grow your balance without losing benefits

💜 Tag Housing, Food, and Medical Spending – Helpful for SSA redeterminations

💜 Use Document Storage – Keep SSA letters and receipts in one place

6. FAQs About Having a Bank Account on SSI or SSDI

Can I open a bank account if I’m on SSI?

✔ Yes, but be mindful of the $2,000 asset limit.

Will my benefits be cut off if my balance is too high?

⚠️ Possibly—if you’re on SSI and your account goes over $2,000 for too long.

Can I use a regular bank account, or should I use something like Purple?

You can use either, but Purple is designed specifically for people on disability, with safeguards built in.

Can I have both a bank account and an ABLE account?

✔ Yes—and using both is a smart way to spend and save without risking benefits.

7. Conclusion: Yes, You Can Have a Bank Account on Disability—Here’s How to Do It Right

✅ Both SSI and SSDI recipients can open and use bank accounts

✅ SSDI has no limits—SSI has a $2,000 cap on resources

✅ Direct deposit is the safest and fastest way to get your benefits

✅ Use a disability-friendly account like Purple to track your balance and avoid issues

✅ Consider using an ABLE account to save more

💜 Sign up for Purple and open a disability-friendly account today.