BANK STORY TODAY FROM PORTAL MEMBER WITH A BANK INTERESTED IN WORKING WITH DINARIANS
FROM stage2omega TO You Bank Meeting Follow Up Posted by Alethias on September 10, 2013 at 11:45am
I set this appointment is last week and just finished about an hour ago. I met with the VP of Financial Management with this bank. We started talking straight about Dinar and he told me that he has some for over 5 years.
He does not know the date or rate just that it will happen. We then started about post RV and how he could help me. We created a plan for my group during this time.So here are the bullet points:
• This bank will have 3 locations that will do this exchange in my city.• For security reasons you will be taken to a secure location to do the count, it will not be done in the branch. He said imagine a line of people exchanging dinar in a branch. It is a huge security risk and branches are not set up to do business this way.•
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The money will then be transferred to your account or wired if external.• He has several people that have the largest safety deposit boxes they offer and they are stuffed FULL of $25k notes and the bank can’t have that kind of currency out in the regular branch.
• Next week he has a meeting at the main branch where they will discuss the exchange procedures as well as distribute literature for the employees so they will be prepared.• Make sure you put this in a NIB.• He strongly advised to have your accounts open prior to the exchange. So if you are going to have a business account for a LLC go ahead and open it with $100 as well as your personal account.
• The bank will not be withholding taxes PERIOD. This will be 100% your responsibility.• Tax rate will be ~11% if you have had your Dinar over 1 year and ~38% if less than 1 year at time of exchange. %’s may be off he was recalling from memory. If you do not have documentation that proves the date of purchase the IRS and State Tax Authority will assume the greater tax % which is the 35%. He recommended that you determine your tax % and send it directly to the tax authorities. Do not wait
.• The only other fees will be fees associated with any bank account and currency exchange fees which are waived for current customers.• They also have the clear large money bags for sending currency to the Federal Reserve or the UST. He was not sure which it will go to now and will have it as a topic in his meeting next week
.• Also about the FRN and the UST he said he can see both having currency because neither one should have 100% control but he is still in the middle of this information so we will know more soon.• Release from Chapter 7 was huge as now business can move forward.• Iraq’s neighbors are waiting for this currency to RV so they can commence business.
Yes there was war and other issues but business is business.• The rates that people are probably seeing on the teller screens are what is called “last traded rates” . Meaning if someone tells you that $3.44 is showing up then it is the last rate the IQD was traded at.
Yes the rate from years ago not a future rate.• Based on the amount of oil in Iraq, just oil, they can support a rate around $18 but will probably not even come close to that so they can carry a surplus.
Probably will just open at the rate it closed at years ago.Ok that is about all. Please don’t ask who he is or what bank. He requested this because if I say the bank it will get out and he will have a line of crazies out the door.
You know the people I am talking about. Also DO NOT use this as any reason or justification to buy Dinar.Excuse any misspellings I have stuff to do!!! Lol