BANK ACCOUNTS SR 22-27 Dated 09/22 (FSM-A)

Count the value of bank accounts such as:

·       checking;

·       pre-paid debit cards (such as Direct Express, Green Dot, EPPI/Way2Go, et cetera)

·       credit union accounts;

·       saving certificates;

·       NOW accounts; and

·       savings.

Treatment: Countable Resource

Special Consideration: A pre-paid debit card is a card on which an individual receives electronic payments/deposits, which they can then use for expenses just as they would use a debit card linked to a checking account. Gift cards are different and the treatment of gift cards depends on where it can be used. An establishment-specific gift card is not a countable resource because it can only be spent at the issuing store. A credit card company gift card (like a VISA gift card) is a countable resource as it can be spent like cash, with very few limitations on what can be bought and where it can be used.

See also CERTIFICATES OF DEPOSIT, EDUCATIONAL SAVINGS PLANS, EMPLOYEE RETIREMENT PLANS, PASS, and TRUSTS (RESOURCES) CERTIFICATES OF DEPOSIT, EDUCATIONAL SAVINGS PLANS, EMPLOYEE RETIREMENT PLANS, PASS, and TRUSTS (RESOURCES).

References: RSA 161:2, XIII; RSA 161:4-a, IV; RSA 167:4, I(a); RSA 167:7, IV; 7 CFR 273.8(c)(1); 7 USC 2014(g)(2)(B)(v)