Cash in plan

[cooper333]

So when all our dinar are worth millions - what is the cash in plan. You cant go to your local bank in the US and cash them in. What are you going to do with them. Do you have to fly to Iraq to cash them in?

IF anyone can help me with a plan id appreciate. I obviously have no clue what Im doing.

[mfriedl1]

So when all our dinar are worth millions - what is the cash in plan. You cant go to your local bank in the US and cash them in. What are you going to do with them. Do you have to fly to Iraq to cash them in?

IF anyone can help me with a plan id appreciate. I obviously have no clue what Im doing.
You can go to any bank's branch that does currency exchanges and they will do it, but they might require you to have an account with them...or charge you and extra fee if you don't.

some banks in the US that do currency exchanges are B of A, HSBC, Commerce, Chase and Compass Bank. Just check the banks in your area and see if they do currency exchanges and what the requirements are to have an exchange done.

Good luck

[stephen]

You will most definately be able to go to any major bank in the US that has a foreign currency department. There will be many banks that want to take advantage of the wealth they will receive from cashing in our dinar. I know of a couple banks here in Texas that are either ready or already doing business with the dinar. As soon as the currency is accepted as a convertible currency, the banks will deal with it. Make sure you check around to see what the exchange rate is at different banks...if you have enough to cash in...the exchange rate can be haggled with a bit...

...which locations and bank names in Texas ??

[Adster]

Question is would they be going to these lengths unless they knew that sooner or later the Dinar would be exchangeable?

[hilljack13]

since B of A is about the closet bank on the lists posted and the only do a max of $3000 for account holders and $300 for non account holders, what about travelex? they have an office in the Raleigh airport, next closest without flying to Texas it appears?? Any thoughts?

[Javabear]

since B of A is about the closet bank on the lists posted and the only do a max of $3000 for account holders and $300 for non account holders, what about travelex? they have an office in the Raleigh airport, next closest without flying to Texas it appears?? Any thoughts?

When I opened my B of A account in Florida before coming to Iraq in March 2005 I specifically asked about foreign currency exchanges even though I knew nothing of the dinar at that time. The lady went to check and when she came back I was told that since I was an account holder there were no fees and no limit.

[stayfrosty5]

Why don't we wait until it is actually convertible before we talk about cashing in. It's like trying to design a car before the wheel is invented.

frosty

[BIG WAVE]

I got a great idea, why doesn't everybody cash it at .01 and with fewer $'s in circulation, they can up the exchange rate to $3.22
......ya what a great idea, I can start that evil empire I've been wanting to run. I'm making my hair appointment now to get my head shaved. Does anyone have a kitty and a razor?
Are we in the lounge? oh cripes, sorry about that.:D

[BABYBULL24]

I got a great idea, why doesn't everybody cash it at .01 and with fewer $'s in circulation, they can up the exchange rate to $3.22
......ya what a great idea, I can start that evil empire I've been wanting to run. I'm making my hair appointment now to get my head shaved. Does anyone have a kitty and a razor?
Are we in the lounge? oh cripes, sorry about that.:D

Its going to get interesting on here when it becomes convertible and say floats at an opening of .01 to .04. I can hear the arguments already about if it will go up or down - how far down - how far up - when will it crash - who got burned....etc.

[myranchretirement]

I got a great idea, why doesn't everybody cash it at .01 and with fewer $'s in circulation, they can up the exchange rate to $3.22
......ya what a great idea, I can start that evil empire I've been wanting to run. I'm making my hair appointment now to get my head shaved. Does anyone have a kitty and a razor?
Are we in the lounge? oh cripes, sorry about that.:D


Hey BIG. I think Sportslux would make a great MINNIE ME!

[hilljack13]

When I opened my B of A account in Florida before coming to Iraq in March 2005 I specifically asked about foreign currency exchanges even though I knew nothing of the dinar at that time. The lady went to check and when she came back I was told that since I was an account holder there were no fees and no limit.

I will assume since I found the info online at their web site the information was just to get a pre-authorization if you do it online. I have heard others say they have no limit. May go and get an account with them if now HSBC.

[hilljack13]

When I opened my B of A account in Florida before coming to Iraq in March 2005 I specifically asked about foreign currency exchanges even though I knew nothing of the dinar at that time. The lady went to check and when she came back I was told that since I was an account holder there were no fees and no limit.

From BoA web..I like the 3rd option best for cashing in

Bank of America also lets you:

Check daily foreign exchange rates online, anytime.
Calculate the value of your currency before you exchange money, using our foreign exchange conversion tool (http://www.bankofamerica.com/foreigncurrency/index.cfm?template=fc_calculate.cfm).
Deposit foreign currency into your Bank of America checking, or savings account that you want to sell back, or exchange it for U.S. cash.

[Adster]

Are BOA already selling or exchanging Dinars in any of their branches yet guys?

[BABYBULL24]

Are BOA already selling or exchanging Dinars in any of their branches yet guys?

Negative.....

[hilljack13]

I have emailed Wachovia for the same info BoA has. Awaiting response.

[Adster]

So aside from Compass Bank in Houston, any other banks exchanging/selling?

[WilliamMunny]

So aside from Compass Bank in Houston, any other banks exchanging/selling?

Pretty sure that HSBC is,....We have many branches in the LA area...
And they've bought at least one (or several) Iraqi banks,...so they
should be a prime candidate for exchaning dinar..

-Wm

[Adster]

WM,

Great news but wonder if anyone can confirm they are.....

[hilljack13]

WM,

Great news but wonder if anyone can confirm they are.....

Anybody called them yet or have a contact with them?

[axismundi]

Anyone know about chase/bankone

[WilliamMunny]

WM,

Great news but wonder if anyone can confirm they are.....

I've been trying,...so has another forum member who's in the LA area,
but no confirmation yet,...

[WilliamMunny]

Anybody called them yet or have a contact with them?

I did call them,...and was connected to their "exchange office",
which I thought was a good sign,...
He sounded very helpful until i mentioned that dreaded word "dinar",
then he turned off like a light bulb,...
Not to exaggerate though, he did say that "when the time comes"
or something to that effect,...

This was before I had an account,...now as a "customer",
i should be able to get a more definite answer,...

If I hear anything I'll definitely let you know...
-Wm

[DinarDummy]

The persons you reach at the bank do not and will not have information on the dinar until it is officially 'open' on the world market. You're wasting your time and theirs. The reason they 'turn off' is that they have been called and called and called. If, and that's a big if, anyone at any of the banks has information, you can bet that it won't be the person we can reach by phone. I really think that if you spend as much time searching past posts, you will get more info on this than you will with 100 calls to banks.

[WilliamMunny]

The persons you reach at the bank do not and will not have information on the dinar until it is officially 'open' on the world market. You're wasting your time and theirs. The reason they 'turn off' is that they have been called and called and called. If, and that's a big if, anyone at any of the banks has information, you can bet that it won't be the person we can reach by phone. I really think that if you spend as much time searching past posts, you will get more info on this than you will with 100 calls to banks.

uhmm, i have searched all the previous posts,...info is spotty..
not hardly any specifics,...

[TiredOfWork]

uhmm, i have searched all the previous posts,...info is spotty..
not hardly any specifics,...
Exactly. Many have tried...walking in, sitting down, calling, emailing, etc, etc, etc...I think that's DinarDummy's point. We are starting to get on the nerves of the bankers. They can't answer any better than anyone else, because nothing has happened yet. I'm pretty sure lux had a good posting about this somewhere, it still applies.

[hilljack13]

I have emailed Wachovia for the same info BoA has. Awaiting response.

Got a response on Wachovia:

I have received your email regarding depositing foreign currency to your
account. For foreign currency, the processing method is based on the
foreign bank and currency type. These deposits may be made at any
Financial Center. The option to deposit foreign items at an Automated
Teller Machine (ATM) is currently unavailable.

Foreign checks must be sent for collection, in the event one of the
following situations applies:

- Draft is not drawn on the currency of the foreign bank
- Draft is drawn on a United States bank or agency in foreign currency
- Draft is drawn on a foreign bank in US dollars

In the event the item is drawn on a bank in England, Switzerland,
Germany, Canada, or France in US dollars, the item will be processed as
a normal transaction, and will not be sent for collection. If the item
is drawn in the currency of the foreign bank, the transaction is also
processed as a normal transaction.

If the item has to be sent for collection, the collection process takes
an average of four to eight weeks, or longer, depending on the country.
During this time period, access to those funds are unavailable.

There is a $75.00 collection fee per item to the Bank and any processing
fees charged by the foreign bank. This amount will be deducted from the
final amount to be credited to the account.

Final rate of exchange is provided when the item clears, normally four
to six weeks after Wachovia has submitted the check for collection.

If you have additional questions or concerns, please contact us via
e-mail or call 800-WACHOVIA (922-4684). Representatives are available
to assist you 24 hours a day, seven days a week.

I value your business as a Wachovia customer and look forward to
continuing to serve your financial needs. Visit us again at
wachovia.com.

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Sincerely,