Military Retirement Annuities

For many years if you were a Retired Veteran or Servicemember receiving a military retirement or annuity and you lived overseas things were difficult.  You could not enjoy the easy access or benefits of direct deposit in that case. Well this is changing it recently became possible to enjoy direct deposit if you live in some overseas locations.  The first phase of the Direct Deposit for International Customers was sent to people living in Canada, France, Australia, Germany, and England in 2005.  Now those who have retired from the United States military and annuitant that are receiving pay and who live in these overseas locations can have their payments sent monthly to their local banks.

Phase two began in 2006, in February. Enrollment information was mailed to people living in thirty-eight other countries. The International Direct Deposit program will take your pay or annuity payment and deposit these funds electronically into your bank account.  This normally occurs on the 1st business day, similar to stateside Direct Deposit. A problem associated with paper delivery including stolen or lost checks, delayed checks or mis-routed checks is avoided with the new program.

When receiving the new enrollment packets, it is important to take care and time to fill them out correctly.  Each packet should have a return envelope, enrollment form, and instructions on how to fill them out, and they should be placed into the return envelope and mailed upon completion.

Mistakes or typographical errors may happen, but it is certain that if they do it will delay your enrollment. If possible its best to type your enrollment form when preparing.

Annuitants and retirees living abroad and receiving pay in forty-three countries can currently access the International Direct Deposit program.  If you live in a country that is not yet on the list for IDD and would like to participate in the program, you should send a written letter of inquiry to:

Federal Reserve Bank

New York Federal Reserve


International Treasury Service

East Rutherford Ops. Center

First Floor

100 Orchard Street

East Rutherforld, NJ 07073  USA

Those retirees and others living and receiving pay outside the continental United States have often had slow pay delivery and extra expenses in currency conversion. Often these people have also had to endure wire transfer fees.  With this new program your retirement pay is deposited in the money or currency featured where you live.

Comments

comments

 

3 Responses to “Military Retirement Annuities”


Post A Comment

military dot image john r taylor    Thumb up 0 Thumb down 0

I am receving VA Disability monthly payment I live in Austalia and can not get help to get direct deposit to my bank in Australia by either my bank or VA I have made numerous calls to VA in States to not get a form to get Direct DEPOSIT in Australia If you can tell me how to accomplish it I would be very grateful.


military dot image Dalas Green    Thumb up 0 Thumb down 0

If you need the Optional Form 1199I for International Direct depossit, First, go on line and look under “Internationaldirectdepositform.com” Second, print out the OF 1199I for each agency you wish to have the direct deposit sent from to your bank in Australia. Third, take it to your bank and have them fill out the bank info, i. e. Name of Bank, address, their SWIFT number, and the rest of the info in C of the form. You complete the other areas as indicated and send it to the VA for them to make the change. If the VA shows that Australia is on their list to accept IDD, you’re in and finished.

Lots of luck. I’ve been trying for three months and finally got a message from them that South Korea is no longer on the list so I couldn’t make any changes of my present Direct Deposit to an International Direct Deposit account.


military dot image Elvira P. Kamekona    Thumb up 0 Thumb down 0

My husband passed this Oct. 20, 20013. I am getting my federal annuity by direct deposit. I would also want to change my National Guard annuity
check into direct deposit. I need the form. Please help me .


Leave a Reply



Previous Post <<
Next Post >>





USAA OFFERS

SPECIAL OFFERS

USMilitary-VA-benefits