Direct deposit available for retirees living abroad
Some U.S. military retirees living outside the States now can enroll to have their monthly payments directly deposited in their bank accounts.
Those living in Australia, Canada, France, Germany and the United Kingdom have had the International Direct Deposit option since December, and 38 additional countries are slated to come into the program this year, according to the Defense Department’s Defense Finance and Accounting Service Web site.
Monthly payments can be sent electronically to a foreign bank account in the local currency, saving the expense of converting dollars, according to the DFAS Web site. The potential for lost or late payments is also eased with direct deposit enrollment, the site states.
Enrollment packages for the program are sent to retirees and annuitants when the program goes into effect in their given country of residence.
For more information on the direct deposit program, log on to the DFAS Web site or call 216-522-5955.