rvmyles: Good Morning PD Family
Well TWO days ago my son and I were talking about Banks, so he called the Main office of a Major Bank he has an account set up with, and asked if they delt in foreign currency ( Kawaiti Dinar ) using it for an example.
The bank told my son that yes they do and there would be a ( THREE PERCENT CHARGE ), He then called me and told me about the conversation About two weeks prior I used the same question with my bank again on of the big ones and the rate of the Kawati Dinar was about the same 3.499 and was told that I would recieve 3.11.
So as you can see there will be a differance between banks (KEEP THIS IN MIND).
Read More Link On Right
So now my son calls the local branch that holds his account and asks the same questions ( fee ) ( spred ) she did not knowthe answer to that but looked up the Kawaiti Dinar and told him that he would recieve ( After Fees 3.61 ) the interesting part is that the Kawati Dinar at that time was ( 3.49 ) posted (VERY INTERESTING) there is no He Said She said hear.
No Im not going to tell you the banks at this time to many newbie that will freek out and start calling the bank, that happened before and was a nightmare for Steve because the bank was overwelmed with calls.
Now yesterday a very good friend of mine calls me to tell me about a rate change in purchasing Iraqi Dinar from a major trader. Again Im not going to tell you who for the same reason......
My friend is aware that I had done some buisness with them a few days ago and the buy was 980.00 per million and checking yesterday it had jumped to ( 1020.00 ) per million.
My point is that there is movement so just because you dont see it does not mean nothing is taking place. Point being made posted KW rate 3.49 pay out rate per one KW DINAR 3.61 after fees and my son verfied the amount twice. Then buy rate for Iraqi Dinar Goes up.
P. S. My son did finally tell his bank what he was doing and they offered their services at time of exchange...:-) BLESSING TO ALL HAVE AN RV DAY NEVER GIVE UP
Txprince: Hello PD Family,
First I like say this has been a heck of a ride, 10 years and counting.
I told a friend about the dinar and to think about getting some but only what you can afford, she went and purchased some a couple of weeks ago and went to a local chase bank to speak to one of the customer service reps about her investment and they basically called her stupid and its all a scam, and she was upset and called me up to tell me what had happen and she used some choice words that I will not repeat here,
I told her this investment is not for everyone, there are a bunch of folks that dont believe and its ok, it is there choice and I told her it is going to happen just have to believe and I promised her when it does I will go with you to the same bank and we can smile together at that customer rep and cash in your blessings, she calmed down and said deal.
Today I was riding on I20 (DFW area) and during my journey I saw 7 big RV signs, I have been on that road hundreds of times and I never notice them before, I know the RV signs wasn't what we want to mean but what if. Gilberto
Beachrider: Spoke to my banker yesterday at Chase. He did a 180 with attitude from last year when I setup my brokerage account with him. I didn't even mention Dinar last year when I met with the branch manager, relationship manager, loan manager and everyone else they could shove through that office that day.
As I was leaving that day he said we don't deal in Dinar but will be someday soon. Yesterday I spoke to him about my brokerage account and Chase's International Currency accounts and he said we don't deal in Dinar at all and never will and he actually wasn't very nice about it either.
I know he has been coached to say that but they just made a big mistake in my opinion. They just lost my business and believe me, that is a huge mistake on their part to be telling their employees to say that.
I immediately started shopping for a new bank and have found one to move all of my deposits to. I won't tolerate that foolishness from my banker.
Dinaroo: Sadly for them, bank managers are simply puppets, and are told what to say, and what their opinions are..!!!!!!!!!!!
Dianne777: Beachrider, You are not alone, I too, got the exact same quote from my Chase Bank. I too, will not put my money in their bank!!!! Sorry about their luck!!!
Masterdinar: The first clue that they are not telling the truth is the use of the word "never". No international bank that deals in foreign currency is going to say they will never deal in a particular currency because they all know that they will deal in any legal international recognized currency.
If they are questioned about a currency that is currently not trading internationally...they know that someday that currency might gain legal international status and they know when it does they and everyone else will trade it.
Lorelai2012: I now have a bank story, too. Last summer, I called the currency department of my bank (Huntington) and asked about their processes for currency exchange. After a while, the banker asked me which currency I intended to exchange.
When I informed her that is would be IQD, she said, "We won't be exchanging dinar." I explained that I understood that it wasn't yet internationally convertible, but I believed it would be in the future. I asked, "Once this currency is internationally tradeable on Forex, will you then be exchanging it." I was blown away by her response: "What is Forex? I don't know what that is."
I was baffled! I said, "You work in the currency division and you're not familiar with Forex?" She asked me to hold for a moment while she relayed my questions to her supervisor.
When she returned to the call, she said, "My supervisor told me to tell you that we do not exchange dinar, and we will NEVER be exchanging dinar, even if the whole world recognizes it. We do not now and will not ever deal with dinar."
This week, I've had to visit the local branc of the same bank a couple of times on different matters. I asked the manager if the bank would be exchanging dinar.
He said he knew a few of their customers had dinar but he personally didn't know much about it but that he would make a couple of calls and get back to me.
Today, I visited the bank again. I casually asked if he'd learned anything about dinar. He said, "i can only tell you that the bank is not making a statement at this time."
I smiled and said, "Oh, really? Well, there's a huge improvement!" When he gave me a puzzled look, I explained what I encountered last summer. He was appalled.
I said, "Well, if the answer you received is that the bank is officially NOT making a statement, it tells me they are well-informed and perhaps even being prepared for a policy change.
I take that as a reason to be encouraged." He gave me a big smile and wink, then he said, "Again, the bank is not making a statement at this time, but I think you have a great reason to be encouraged."
Finally!!! I took that as a great sign of how near we are!
Rogc: I bank with Chase and my personal banker is invested big time. It's pretty funny that 3 1/2 years ago you could walk into a Chase Bank and buy them. Just a couple of months ago there was an article on this site talking about Chase setting up in Iraq and helping get all their banking in and on line. Wonder why?
Songbird: I love it when someone tells me it’s a scam, and I answer back, "Hmmm… Then why was I able to purchase IQD from a bank? in fact most of my purchases were from the bank.” Banks don’t want their low paid tellers and account managers to leave! They are not going to let that happen. Dinaroo has it right in saying they are just puppets.
This happened 11/2 years ago: I went in to open one of those Dodd Frank accounts with the unlimited insurance at WF. (You know, we all thought January 1st at the latest!)
Of course they asked why, and I told them I was coming in to an inheritance that included foreign currency. I told them I had several different currencies including IQD.
The manager almost had a gut reaction and blurted out, “We won’t be dealing in Iraqi dinar!” Then the private banker held up his hand toward the manager as if to quiet him, and began to discuss where my investments will go once I had exchanged my currency.
I am convinced this guy was in the know! I have received a call or two since then from the bank manager. I figure when the time I right I will call Mr Private Banker, and the phone will roll over to the former bank manager because Mr Private Banker will be sipping an umbrella drink somewhere in the Carribean!