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from j4c11
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What kind of bank is SNAP? Never heard of it. FDIC insured?
A SNAP debit card is actually an Electronic Benefits Transfer (EBT) card, which is used to access your Supplemental Nutrition Assistance Program (SNAP) benefits. It works like a debit card to purchase eligible food items at participating retailers and can also be used for cash benefits.
What kind of bank is SNAP? Never heard of it. FDIC insured?
It's NOT a "debit card," but an electronic benefits card (EBT). Usually run by the "private sector" (Fidelity National Information Services in many if not most cases) for the respective state.
It's not FDIC insured, but most states offer replacement for limited circumstances.
SNAP is the new name for what used to be officially called Food Stamps (which were never "stamps," but "coupons").
Last edited by b-t-1 October 30, 2025 at 02:00 AM.
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Our community has rated this post as helpful. If you agree, why not thank ChicoDad
A SNAP debit card is actually an Electronic Benefits Transfer (EBT) card, which is used to access your Supplemental Nutrition Assistance Program (SNAP) benefits. It works like a debit card to purchase eligible food items at participating retailers and can also be used for cash benefits.
It's not FDIC insured, but most states offer replacement for limited circumstances.
SNAP is the new name for what used to be officially called Food Stamps (which were never "stamps," but "coupons").
Leave a Comment