A disability bank account isn't a special type of account—it's a regular bank account with features that work well for people on SSI, SSDI, or other disability benefits. The right account can protect your benefits and make managing money easier.
In this article, we'll cover:
- What makes an account "disability-friendly"
- Features that matter for SSI recipients
- Features that matter for SSDI recipients
- Why Purple is designed for disability benefits
- How to switch to a better account
1. What Makes an Account "Disability-Friendly"
Most banks don't think about disability benefits when designing their products. A disability-friendly account should:
- Avoid fees that eat into limited income
- Support compliance with SSI rules
- Provide early access to benefits when possible
- Offer accessibility features for various needs
- Allow proper titling for rep payee accounts
Traditional banks rarely offer all of these. That's why specialized options like Purple exist.
2. Features That Matter for SSI Recipients
If you receive SSI, the $2,000 resource limit is your biggest concern. Look for:
Balance tracking:
- Know exactly where you stand
- Alerts when approaching the limit
- Clear visibility into your resources
No automatic savings:
- Avoid features that accumulate money
- Turn off round-ups and auto-transfers
- Prevent accidental limit violations
ABLE account integration:
- Save beyond $2,000 legally
- Track both accounts together
- Move money easily when needed
Rep payee support:
- Proper account titling
- Spending tracking for reports
- Compliance tools
3. Features That Matter for SSDI Recipients
SSDI doesn't have asset limits, but other features matter:
Early direct deposit:
- Get benefits days before the scheduled date
- Better cash flow for bills and expenses
- No waiting for traditional bank processing
No fees:
- Keep more of your benefits
- No monthly maintenance charges
- No overdraft penalties
Good accessibility:
- Easy-to-use mobile app
- Responsive customer support
- Features that work for various disabilities
4. Why Purple Is Designed for Disability Benefits
Purple was built specifically for people on SSI and SSDI:
For SSI recipients:
- Balance tracking with limit awareness
- Custom alerts at $1,800, $1,900, or any amount
- ABLE account integration
- Tools to help avoid going over $2,000
For SSDI recipients:
- Early direct deposit up to 4 days
- Clear deposit notifications
- Simple account management
For everyone:
- $0 monthly fees
- $0 overdraft fees
- No minimum balance
- Rep payee account support
- User-friendly mobile app
The difference: Traditional banks don't know or care about SSI limits. Purple is designed around them.
5. How to Switch to a Better Account
Switching is straightforward:
Step 1: Open your new account
- Sign up with Purple online
- Takes just a few minutes
- No credit check required
Step 2: Update your direct deposit
- Go to ssa.gov/myaccount, or
- Call SSA at 1-800-772-1213, or
- Visit your local Social Security office
Step 3: Wait for the switch
- Takes 1-2 payment cycles
- Keep old account open until confirmed
Step 4: Start using your new account
- Set up alerts
- Connect ABLE account if you have one
- Enjoy early deposits and better features
Important: Don't close your old account until you've confirmed your benefits are depositing to your new account.