Finding a bank that actually understands disability benefits can feel impossible. Most banks don't know what SSI is, have never heard of a representative payee, and certainly won't help you track your resources to stay under the $2,000 limit. Purple is different.
In this article, we'll cover:
- Why traditional banks fail people with disabilities
- What makes Purple different
- Key features that protect your benefits
- How Purple handles representative payee accounts
- ABLE account integration explained
- Getting started with Purple
1. Why Traditional Banks Fail People with Disabilities
Traditional banks are built for the general population. They assume you have steady employment income, want to save as much as possible, and don't face asset limits that could cost you your benefits.
For people on SSI or SSDI, this creates real problems:
- No resource tracking - Banks don't alert you when you're approaching the $2,000 SSI limit
- Rep payee confusion - Many banks don't know how to title rep payee accounts correctly
- Minimum balance fees - Fees that punish you for having less money
- No early deposit - You wait for the standard payment schedule
- Unhelpful support - Staff who don't understand disability benefits
These aren't minor inconveniences. Going over the SSI limit, even briefly, can result in benefit suspension. An incorrectly titled rep payee account can cause compliance issues with the SSA.
2. What Makes Purple Different
Purple was built from the ground up for people receiving disability benefits. Every feature is designed with SSI and SSDI recipients in mind.
We understand the rules Purple's team knows SSA regulations. We built tools specifically to help you stay compliant, not accidentally violate rules you didn't know existed.
We prioritize what matters to you Early access to your money. Knowing exactly where you stand with the asset limit. Being able to involve caregivers without losing control. These are the features that matter when you're living on disability benefits.
We're accessible Our app and website are designed to be accessible for people with various disabilities. We also offer customer support from people who actually understand your situation.
3. Key Features That Protect Your Benefits
Early direct deposit Get your SSI or SSDI benefits up to 4 days before the official payment date. When you're on a fixed income, those extra days can mean the difference between paying a bill on time or facing a late fee.
SSI resource tracking Purple monitors your account balance and alerts you when you're approaching the $2,000 limit. You'll always know exactly where you stand, so you can take action before a problem occurs.
Spending insights See where your money goes each month. Purple categorizes your spending automatically, helping you budget and plan.
No predatory fees No monthly maintenance fees. No minimum balance requirements. No fees that punish you for being on a fixed income.
Important: Staying under the SSI asset limit is crucial. Going over, even for one day, can trigger a benefit suspension. Purple's tracking tools help prevent this from happening.
4. How Purple Handles Representative Payee Accounts
If you're a representative payee managing benefits for someone else, Purple makes your life easier:
Correct account titling Rep payee accounts must be titled a specific way to comply with SSA rules. Purple handles this automatically, so you don't have to fight with a bank that doesn't understand.
Separate tracking
Spending controls Set limits on where and how the card can be used. This helps you fulfill your duty to spend benefits appropriately for the beneficiary.
Easy reporting When it's time to file your annual Representative Payee Report, Purple's transaction history makes it simple to document how funds were spent.
5. ABLE Account Integration Explained
ABLE accounts let people with disabilities save up to $100,000 without affecting SSI eligibility. Purple integrates directly with ABLE accounts:
Easy transfers Move money between your Purple checking account and your ABLE account with a few taps. No need to juggle multiple apps or websites.
Unified view See both your checking balance and ABLE savings in one place. This gives you a complete picture of your finances.
Strategic saving
If you don't have an ABLE account yet, Purple can help you understand your options and get started.
6. Getting Started with Purple
Opening a Purple account takes just a few minutes:
- Download the app or visit our website
- Provide basic information - Name, address, date of birth, and Social Security number
- Verify your identity - This is required for all bank accounts
- Get your account details - Receive your routing and account numbers immediately
- Set up direct deposit - Update your information with the SSA
Once your account is active, you can start using all of Purple's features right away. Your first benefit deposit will arrive on the next payment cycle after SSA processes your direct deposit change.