Overseas direct deposit system set
ARLINGTON, Va. — Many expatriate U.S. military retirees and others who get money from the Defense Department can get their monthly payments sent directly to their local overseas banks through the Defense Finance and Accounting Services’ new International Direct Deposit program.
The new system eliminates problems with slow delivery of pay, expenses associated with converting U.S. dollars to local currency, and wire transfer fees from stateside financial institutions, according to the DFAS information Web site.
DFAS already has sent enrollment packages to retirees and annuitants who live in the United Kingdom, Australia, Canada, France and Germany, the first countries where the service is available.
More than 35 additional nations will be added to the list “in the very near future,” according to the DFAS Web site.
For more information on International Direct Deposit, including the list of countries expected to participate, go to: www.dod.mil/dfas/money/retired/IDD.htm