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THINGS YOU MUST KNOW PRIOR TO EXCHANGE
IF YOU ARE PART OF AN EXCHANGE GROUP:
What are the tax implications, if any, to selling your dinar thru a private avenue vs. exchanging your currency thru a bank, yourself.
Who is purchasing your dinar? You must know beyond a doubt who is purchasing your currency. If there is any chance that whom ever it is, is on the U.S. Treasury watch list, you run the risk of losing all of your money, and possibly even criminal charges. You CANNOT take someone's word as fact as to the purchaser. Link for U.S. Treasury watch list: http://www.treasury.gov/ofac/downloads/t11sdn.pdf . If the groups are not willing to give you such basic information, exchange with them at your own risk!
Is your group using the services of a Paymaster Attorney? You simply cannot deposit money into an account, and trust that everything will go as planned. If it doesn't...who are you going to call? Do you at least have the attorney's name and state that he is licensed in? You can and should have his full name, the name of the firm, address, and phone number. You should then call the state bar association that the attorney is licensed thru, and check to see if there has been any disciplinary action taken against said attorney in the past, or if there is any pending actions being taken at this time. Why on earth would you deposit money into anyone’s account on the word of someone else that you will get it back, or that it is even going into a paymaster account!
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Is this a legal transaction? Anyone involved in the sale of securities (which currency is classified as) must be a licensed securities broker. You can call your state department of securities or the federal office, to see if this is a legal transaction, and what the risks are to you to exchange under such circumstances.
IF YOU ARE EXCHANGING AS AN INDIVIDUAL WITH A BANK:
You need to know that the spread (the difference between the buy and sell rate) is negotiable.
You need to know that the services you will receive from the wealth management department is also negotiable.
You need to know if your money will be required to be seasoned. Meaning, do you need to leave a majority of your money in that bank for a period of time before it is available to you?
PLEASE! THIS IS A ONCE IN A LIFETIME OPPORTUNITY TO HAVE MORE MONEY THAN YOU WOULD HAVE ANY OTHER WAY IN YOUR LIFETIME! DO NOT RISK THIS OPPORTUNITY THINKING THAT YOU CAN GET AHEAD OF THE GAME! IT IS NOT WORTH IT!
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