VND at Wells Fargo

[Sponson]

As a result of another post I read, I went into WF to see for myself if they sold the dong. They do even though it isn't listed on their website - although their website does direct you to call them or stop by a branch to enquire for other currencies not listed.

The price they quoted me was $72.80/million. The current buyback rate is $52.80/million. Delivery would take 3-4 weeks.

If you don't have an account their unlikely to give you too much info. However, the Service Manager was a high school friend of mine, and my son does have an account with them, so she fixed me up.

Oddly enough, they do not sell the NID.

I've seen some other comments, but what's the latest? A good investment or prime lop candidate?

[windy]

Hey Myjag- I placed an order at WellsFgo on Jan9. $72.78 rate per million.
Because I didn't have an acct, I had to buy at least $200 of Dong
and pay $5 service chg. Picked up my currency on Jan 22.
Don't know much more about it than that....

[Sponson]

Hey Myjag- I placed an order at WellsFgo on Jan9. $72.78 rate per million.
Because I didn't have an acct, I had to buy at least $200 of Dong
and pay $5 service chg. Picked up my currency on Jan 22.
Don't know much more about it than that....

I didn't know that and didn't think to ask...I'll be sure to do so next time I go in...like, tomorrow. lol

Thanks!


:happy64:

[maxie63]

Chase Bank in Sarasota, Florida, also sells it, my freind just picked up a million last week from them.

MJW


http://www.agloco.com/r/BBBP1621 (http://www.agloco.com/r/BBBP1621)

[Great4U]

Hey Myjag- I placed an order at WellsFgo on Jan9. $72.78 rate per million.
Because I didn't have an acct, I had to buy at least $200 of Dong
and pay $5 service chg. Picked up my currency on Jan 22.
Don't know much more about it than that....


I went to the Wells Fargo in Beverly Hills, Californa and they sent me to a currency exchanger around the corner ( the foreign exchanger for the bank was out for the day). No dinar OR dong. The currency guy gave me some speel about being careful, blaa, blaa, blaa... He certainly didn't know much about anything. So no luck at my Wells Fargo bank in CA. :crying: :no:

I was SOOO looking forward to getting some dong. Oh, well maybe I'll go back later in the week and speak with the bank person if they are there. :wave:

[Sponson]

Yeah, I went into my local Chase (in Texas) and they said they couldn't get the dong. Perhaps I should ask again.


Chase Bank in Sarasota, Florida, also sells it, my freind just picked up a million last week from them.

MJW


http://www.agloco.com/r/BBBP1621 (http://www.agloco.com/r/BBBP1621)

[GEKEnterprises]

Yeah, I went into my local Chase (in Texas) and they said they couldn't get the dong. Perhaps I should ask again.

I went to my Local Chase bank today and the VND did not show up on their Currency Purchasing screen. I'd like to know which Chase branches sell the VND or is there a number to call.

[Chaka]

Wells Fargo is sleeping with Industrial and Commercial Bank of Vietnam

go to Industrial bank website and read the benefits of wiring to vietnam thru WF

[MrAustin]

any word on getting some vd here in texas?

[frank a bouchet]

I e-mailed Wells Fargo on their website 2/20, got reply back. not selling Dong again ubtil 3/16, referred me to another dealer-$115 per million

[MrAustin]

wonder if the 3/16 is for all branches

[JJLL]

I e-mailed Wells Fargo on their website 2/20, got reply back. not selling Dong again ubtil 3/16, referred me to another dealer-$115 per million

The banks are probably waiting to see if the currency will be under any kind of restrictions.

http://www.iht.com/articles/2007/02/12/business/dong.php
"The government could put restrictions on overseas funds starting March 1 to deter speculators, Alex Joiner and Amy Auster, economists at the Melbourne-based bank, said in a recent note to investors."

[Joel57]

The banks are probably waiting to see if the currency will be under any kind of restrictions.

http://www.iht.com/articles/2007/02/12/business/dong.php
"The government could put restrictions on overseas funds starting March 1 to deter speculators, Alex Joiner and Amy Auster, economists at the Melbourne-based bank, said in a recent note to investors."

Or, they could be waiting to see what happens i regard to this.

The currency, the dong, is facing appreciation pressure after stocks gained on speculation that the Communist country's entry into the World Trade Organization last month would boost economic growth. It gained 0.02 percent in January and 0.25 percent in December, the biggest monthly advance in more than 11 years, eroding the value of the nation's overseas shipments.

I don't believe they will impose a currency restriction (goes against IMF Art VIII), or any other, for that matter.

Joiner and Auster said that Vietnam was considering requiring overseas investors to hold stocks and bonds for a minimum period of one year, in order to prevent speculation.

Those rules would be similar to Thailand, which retains restrictions on investments of less than a year in bonds, real estate mutual funds and foreign- currency borrowings. The penalty on share purchases was canceled a day after its introduction triggered a 15 percent slump in the Thai equity market.

I believe this goes against WTO rules.

Perhaps a bit of "moral suasion" going on....my 2 dong worth.

[JJLL]

I forgot... restricting a currency is WTO "no no"

Hopefully things work out.

[ixic]

I just called my local Wells Fargo here in the San Francisco Bay Area. They said they did sell VND, but not for the last 2 weeks. No word as to when they will start offering it again. I called 4 other WF's around the area, all said same thing. Wonderful...I'm late again.