BANK ACCOUNTS (FSM)

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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 ABLE/STABLE-NH ACCOUNTS, 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)