Navy Cash Team Helps Fleet Streamline Financial Operations

NORFOLK (NNS) -- NAVSUP FLC Norfolk recently helped the Navy's newest dock landing ship, USS Arlington (LPD 24), get on line with the Navy's newest cashless point of sale (POS) and funds distribution system.

Navy Cash is a joint mission between the US Treasury, Financial Management Service (FMS) and the Department of the Navy, Naval Supply Systems Command (NAVSUP). On behalf of the Navy, the U.S. Treasury/FMS has designated a financial agent (JP Morgan Chase) to provide the Navy Cash service.

The Navy Cash card can be used by Sailors and Marines aboard ship and ashore as well. The card is a hybrid solution that uses smartcard technology. It uses a chip to store funds for use aboard ship and a magnetic strip that allows users to take advantage of the card's features ashore.

Sailors and Marines can designate their pay to be split, with a portion being sent directly to their strip account on payday. Funds can be transferred between their home bank or credit union account and their ship account as needed. Funds can also be transferred from person to person.

According to Hugh Chin, NAVSUP FLC Norfolk Navy Cash analyst, USS Arlington received the latest version of the Navy Cash system, version 1471. "This latest version provides updates to the point of sale (POS) devices, kiosks, and servers," said Chin. "This latest version is on 20 of 147 ships currently running Navy Cash."

Navy Cash provides many benefits to users and to the Navy as well. It has created a cashless environment aboard ships. Sailors and Marines used to have to keep cash on hand to make purchases from the ship's store or from vending machines. All of those purchases can now be made using their Navy Cash card. They can also use their Navy Cash card to purchase tours or tickets through their ship's Morale, Welfare and Recreation (MWR) department, and at the ship's post office too.

Navy Cash streamlines the accounting process aboard ship, reducing the manpower necessary to manage accounting while increasing accuracy. It also reduces the manpower necessary to maintain and operate ship's stores and vending machines, since they no longer use cash for transactions. It reduces costs by removing the manual workload associated with transporting, counting and securing cash and reducing the need to cash checks afloat.

Navy Cash has also greatly reduced the amount of cash necessary for a ship to have on hand when it deploys. This saves the government approximately $73 million per year.
Navy Cash has greatly improved the quality of life of Sailors and Marines afloat. Cardholder's enjoy 24/7 access to personal funds from their home bank or credit union account with the flexibility to manage dedicated funds for both ship and shore purchases. With the added convenience and security it offers Sailors and Marines and the savings it provides to the government, Navy Cash is a win/win for everyone.

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For more news from Naval Supply Systems Command, visit www.navy.mil/local/navsup/.