Attention A T users. To access the menus on this page please perform the following steps.
1. Please switch auto forms mode to off.
2. Hit enter to expand a main menu option (Health, Benefits, etc).
3. To enter and activate the submenu links, hit the down arrow.
You will now be able to tab or arrow up or down through the submenu options to access/activate the submenu links.
VA »
Veterans Benefits Administration »
Education and Training
»
Amended Requirements for Electronic Fund Transfer (EFT)
Education and Training
Amended Requirements for Electronic Fund Transfer (EFT)
DEPARTMENT OF VETERANS AFFAIRS
Veterans Benefits Administration
Washington, D.C. 20420
Veterans Benefits Administration
Washington, D.C. 20420
Date: June 7, 2023
Subject: United States Department of Veterans Affairs (VA) – Requirements for Electronic Fund Transfer (EFT) effective June 5, 2023
Electronic Fund Transfer (EFT) Requirements
Section 208.3 of title 31, Code of Federal Regulations, requires all Federal payments made by an agency shall be made by direct deposit (EFT). Treasury and VA’s Office of Financial Management (OFM) recently advised that Education Service must ensure all institutions receiving VA educational assistance payments provide EFT information. EFT information is now required as part of the approval process for programs offered by foreign Institutions of Higher learning, including all newly approved foreign schools. Additionally, any approval requests for new programs at currently approved foreign schools must include EFT information, regardless of their ability to accept paper checks.
All VA Education Benefits including Chapter 33 and Survivors’ & Dependents’ Educational Assistance (DEA), Chapter 35 foreign schools must comply with EFT requirements.
The educational institution should provide a letter to VA with the information described below.
The letter must be dated and signed by a school administrator and contain the following information:
o Name of School:
o Address of School:
o VA Facility Code:
o Name of US Based (preferred) or Foreign Financial institution:
o Address of US Based or Foreign Financial institution:
o Nine Digit ACH Bank Routing Number or SWIFT:
o US Bank Account Number or IBAN:
o Type of Bank Account (Savings or Checking):
General questions and requests for direct deposit should be referred to VA at the following email address: federal.approvals@va.gov.
Foreign Program Approvals Team
U.S. Department of Veterans Affairs
Washington D.C.
