Wednesday, 19 April 2017

Changes to Chip and Pin withdrawls at BFPO's

Changes to chip and pin withdrawals from BFPO Post Offices
From the 1 May 2017 the maximum monthly withdrawal from BFPO Post Offices will be limited to £1000 per month per entitled customer.    
From 1 May, there will be changes to the amounts Foreign Post Office (FPO) customers can withdraw using the chip and pin facility.
What does this mean?
If you are an entitled user of FPO services, from 1 May you will be able to withdraw no more than £250.00 per day, with a maximum withdrawal limit of £1,000 per month.

If you need to withdraw cash in an emergency above the set limits, you should contact your Local Welfare Team, who will seek approval from your Local Commander. Decisions will be made on a case-by-case basis.

There is a range of financial services available to service personnel and their dependents, MOD civilians and entitled MOD contractors serving overseas. These include local banks, local cash machines and on-base facilities.
If you have access to a local bank, this would be the best way to withdraw cash in amounts greater than the limit. Service customers are able to pay in all or part of their salaries into a local bank account. The Local Overseas Allowance (LOA) is paid, in part, to help meet the extra cost of using a local bank account.
If you are without access to local banking facilities or FPOs, you will still be able to use on-base financial services provided by Regimental Admin Offices.
HQ BFC recommend that all personnel stationed within BFC maintain a Cypriot bank account and HQ BFC J1  release a monthly guide showing the financial benefits that can be accrued:

a.            €850.00 is the Total loss for the Year 2016 if you are using the Post Office for your cash withdrawals (based on £2,500.00 each month) compared to having your pay, paid into a Cypriot bank account.