Post by Denis-NFA on Jun 17, 2016 19:32:50 GMT 7
I finally bit the bullet and emailed the paperwork to have my DSP paid into an overseas bank account.
What is interesting for me to see is how they calculate the adjustment payments so that I end up 4 weeks in arrears, instead of the current 2 weeks, and the lead time from date of issue of payment to receipt into my bank account goes from 2 days to 6 days.
What gets me is that the Reserve Bank of Australia will now have 6 days to play with 1/13th of whatever portion of the $800 million overseas pension payments that are paid 4 weekly and I would suggest that with overnight interest deposits and exchange rate manipulations that the net cost of paying pensioners overseas would be somewhat less than $800 million.
Anyway, my real question is to find out if my overseas bank account details should show up on my Centrelink Online Account details as used to do when my pension was paid into an Australian account.
Cheers and keep safe.
What is interesting for me to see is how they calculate the adjustment payments so that I end up 4 weeks in arrears, instead of the current 2 weeks, and the lead time from date of issue of payment to receipt into my bank account goes from 2 days to 6 days.
What gets me is that the Reserve Bank of Australia will now have 6 days to play with 1/13th of whatever portion of the $800 million overseas pension payments that are paid 4 weekly and I would suggest that with overnight interest deposits and exchange rate manipulations that the net cost of paying pensioners overseas would be somewhat less than $800 million.
Anyway, my real question is to find out if my overseas bank account details should show up on my Centrelink Online Account details as used to do when my pension was paid into an Australian account.
Cheers and keep safe.
