Why Most “Free” Disability Bank Accounts Still Cost You in the End

If you’ve searched for a disability bank account, you’ve probably seen the word “free” everywhere. Free checking. No monthly fees. No minimums.

But read the fine print — and the picture changes fast.

For people living on SSI or SSDI, many so-called free accounts still come with hidden costs, poor tools, and risks that could affect your benefits. Here’s what to watch out for — and how to find a disability-friendly option that actually protects you.

The Myth of the “Free” Bank Account

Banks and fintech apps love to advertise “no fees.” But that doesn’t always mean what it sounds like.

Here’s what some free disability bank accounts may still charge you for:

• Inactivity fees if you don’t use your account for 60–90 days

• Customer service fees for speaking with a representative

• Overdraft fees when your balance dips below zero

• ATM fees — even when withdrawing your own money

• “Paper statement” or mailing fees if you want physical documents

These charges hit hardest when you’re living on a fixed income and trying to stay under the SSI resource limit.

The Real Cost of Bad Banking Tools

Even if the account itself doesn’t charge fees, there’s another cost: the stress and risk of using an account that isn’t built for people on benefits.

Most bank accounts don’t include:

• Alerts when you approach the $2,000 SSI limit

• Income tracking to avoid SSDI overpayments

• ABLE account integration for safe saving

• Tools to store SSA letters or report income

When those features are missing, you’re left managing it all on your own — and the risk of making a mistake goes up.

How to Choose a Disability Bank Account That Actually Works

Here’s what to look for:

• Direct deposit support for SSI, SSDI, and VA benefits

• Real-time balance monitoring and smart spending tools

• No surprise fees, especially for low balances

• Clear support for SSA-related needs (income tracking, document storage, ABLE savings)

• A product built with — not just marketed to — people with disabilities

How Purple Helps

Purple is a modern disability bank account designed from the ground up for people on benefits. We don’t just talk about being accessible — we build tools that help protect what matters.

With Purple, you can:

• Receive Social Security disability benefits, which may arrive up to 4 days early¹

• Get other direct deposits, like paychecks, which may arrive up to 2 days early¹

• Monitor your balance to stay under the $2,000 SSI limit

• Set spending alerts and category controls

• Store SSA documents, income records, and receipts

• (Coming soon) Open and manage your ABLE account

Get started today at withpurple.com

Purple is a financial technology company, not a bank. Banking services are provided by OMB Bank, Member FDIC. The Purple Mastercard® Debit Card is issued by OMB Bank, Member FDIC, pursuant to license from Mastercard.

¹ Early access is not guaranteed, depends on payer timing, and standard processing times may apply. We generally make funds available on the day we receive the payment file, which may be up to 4 days early for government benefits like SSI or SSDI, and up to 2 days early for other deposits. Early access is available at no additional cost.