International Direct Deposit News:

For those members participating or considering International Direct Deposit (IDD) the following information is provided:

§                    Currency Exchange – How are rates calculated?  Your payment will be converted from U.S. dollars to local currency two business days prior to the U.S. payment date using a wholesale exchange rate.

§                    U.S. dollar or local currency – International Direct Deposit puts your money directly into your local bank in local currency.  If you reside in Canada and have a U.S. dollar account, you may elect to receive your payment electronically in U.S. dollars.  Note that this option is only available in Canada.

Additional information regarding the IDD can be found on the DFAS Web site.  Click on the International Direct Deposit link found on the left side of the page.