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Savings Or Checking Accounts - SNAP (Food Stamps)

In the Supplemental Nutrition Assistance Program (SNAP, formerly Food Stamp Program), a checking account refers to monies deposited in a bank that are available for withdrawal. A savings account refers to monies deposited in the bank which are earning interest and are available to the owner.

The value of a savings/checking account is considered a countable resource. However, the value of the savings/checking account that is attributed to income earned in the current month is excluded as a resource for that month.

Assets that are owned jointly by separate households are considered available in their entirety to each household unless the household demonstrates that the assets are inaccessible. If the household can demonstrate that it has access to only a portion of the savings/checking account, the value of that portion of the savings/checking account is counted toward the household's resource level. The savings/checking account is considered totally inaccessible to the household if the savings/checking account cannot practically be subdivided and the household's access to the value of the savings/checking account is dependent on the agreement of a joint owner who refuses to comply.

Do not include amounts received from the Department of Housing and Urban Development (HUD) for retroactive tax and utility cost subsidy payments as a result of Underwood vs. Harris in the month received. Also, do not include any income received in the current month.

If your household resides in Connecticut, read the topic "Interest Payments (Connecticut) - SNAP (Food Stamps) ".

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