Identification needed when turning in the dinar?

[kubeshauseli]

sorry if this may come across as a stupid question, but please bear with me.
are you able to convert my dinar without identification? a co worker told me otherwise today, after convincing me to invest in dinar a couple of weeks ago. which i bought off ebay and don't have any bank identification. so would this leave me s.o.l. if they rv the dinar in the future? any reply would be much appreciated.

[bikey]

who are you asking if they can cash in your dinar without identification?? dont you have a drivers license or ID card? how bout a birth certificate or visa?

[mailman17]

if your illegal, your in trouble. all you need is a drivers license or state I.D. and of course an account with the bank your trying to cash in at.

[EJAMM]

if your illegal, your in trouble. all you need is a drivers license or state I.D. and of course an account with the bank your trying to cash in at.

I agree with MM17 here, if you are an illegal you are in a heap of trouble...if your "friend" helped you into this investment you best hope they are the type of friend who will stick by you.

Good luck.

[xman]

If you don't have proper identification, converting your Dinar is the least of your worries.

ID is almost a necessity to function in society. How do you do without it?

[explorerhot]

sorry if this may come across as a stupid question, but please bear with me.
are you able to convert my dinar without identification? a co worker told me otherwise today, after convincing me to invest in dinar a couple of weeks ago. which i bought off ebay and don't have any bank identification. so would this leave me s.o.l. if they rv the dinar in the future? any reply would be much appreciated.


So are asking if you need a recipt from the bank, in order to cash it in?
If that is the case no. You need a recipt for your tax purposes. You can get that from your ebay or paypal acct if you dont have one.

[donnarae]

So are asking if you need a recipt from the bank, in order to cash it in?
If that is the case no. You need a recipt for your tax purposes. You can get that from your ebay or paypal acct if you dont have one.

Does anyone know how they will do it for those who bought their dinar on the Iraq economy? I know myself and many others bought while we were there and so there are no receipts. Maybe we can show our passports to prove we were there? Just curious.....Donna

[mailman17]

Does anyone know how they will do it for those who bought their dinar on the Iraq economy? I know myself and many others bought while we were there and so there are no receipts. Maybe we can show our passports to prove we were there? Just curious.....Donna
you dont need a reciept to cash it in as long as you an american citizen. a reciept will help to offset taxes, but lets face it, something you bought for 900 bucks isnt gonna make a difference when you cash it in for a million. tax bracket will not change. And it doesnt matter where you bought it ( overseas or here)

[baz]

Surely anyone anywhere is going to need to have a bank account to pay your new found wealth in to, so if your known at your local bank, because you must have a bank account...dont you? who exists these days properly without the help of the thieves (banks) so then why would they ask you for ID.

Or can i smell a rat here.

[john1]

When the time comes and I decide to cash in I wonder how long they will take to process the transaction. I had a friend who worked as a Branch Manager/Vp of a bank and she told me that they would probably take as much as 6 weeks to exchange the values. She said they would turn in over to their foreign exchange dept to handle the exchange.
Anybody got any other knowledge on this subject?

Still a new member!!!

john1

[RoyalBeluga]

Surely anyone anywhere is going to need to have a bank account to pay your new found wealth in to, so if your known at your local bank, because you must have a bank account...dont you? who exists these days properly without the help of the thieves (banks) so then why would they ask you for ID.

Or can i smell a rat here.

What kind of rat can you smell Baz?

[NotAPHD]

I THINK this person is asking if thy need a receipt or some form of proof of purchase for when they take their dinar to the bank.

Some form of a receipt is useful for tax purposes, but not absolutely necessary, because people will lose things or their house might be raided or trashed or the dog might eat it. As long as you roughly know where you got it and for what reason, i.e. personal investment.

For bank purposes, you can always print an Ebay or PayPal/Safedinar, etc receipt. The bank shouldn't really ask you but if they do you can wave an Ebay receipt under their nose. Make sure it has your name and address on as matching your bank details.

Receipts are a good idea to store though for tax purposes for if anything comes of this. The bank should not need to see proof of purchase if they buy and sell dinars and you have an account with them, though some might ask. For all they know, you are cashing in dinar you got while travelling, etc.

[Bengal]

you dont need a reciept to cash it in as long as you an american citizen. a reciept will help to offset taxes, but lets face it, something you bought for 900 bucks isnt gonna make a difference when you cash it in for a million. tax bracket will not change. And it doesnt matter where you bought it ( overseas or here)


I had found on irs.gov that if you have your reciept and you had purchased this over a year ago, then the capital gains tax will 15%. If you cash in before one year of your purchase reciept date, you will pay 35% capital gains tax. If you have no reciept at all, then you will pay an 35% capital gains tax. I'm surely no tax advisor but it sure is something to look in to.

[kubeshauseli]

yes for clarification i meant proof of purchase, thank you guy's for clearing the subject up for me.

[G Mann]

Correct me if I'm wrong.....

The Banks have the responsibility to perform "Due diligence" per the Patriot Act.

http://www.fincen.gov/312factsheet.pdf

When you cash in your Dinar, fill out these two forms or the bank will fill them out for you.....

http://www.fincen.gov/f9022-47-1a.pdf

and

http://www.irs.gov/pub/irs-pdf/ffc104.pdf


As for the proper amount of taxes to pay, you will be held to the honor system, if you get audited you'll have to show receipts.

Talk to a good Tax Lawyer, set aside your taxes until 4-15 and earn money on it until you have to pay them.

Don't screw with the Fed. Gov't, they will get you eventually....

[sunsetjet]

when Zimbabwe RV'd their currency if you have more than 100mil for individules 5bil for corporate.yes you need proof, and then if not they put it in the bank for 2 yrs @ 0% interest in an anti-laundering fund, with limited cash withdrawls and investigation of where it goes.
link to article is a good read. As it shows what happens when a country RV's their currency over night. However Iraq is different but some guidelines to watch for!
http://www.ocnus.net/cgi-bin/exec/view.cgi?archive=100&num=25505#top

[mailman17]

I THINK this person is asking if thy need a receipt or some form of proof of purchase for when they take their dinar to the bank.

Some form of a receipt is useful for tax purposes, but not absolutely necessary, because people will lose things or their house might be raided or trashed or the dog might eat it. As long as you roughly know where you got it and for what reason, i.e. personal investment.

For bank purposes, you can always print an Ebay or PayPal/Safedinar, etc receipt. The bank shouldn't really ask you but if they do you can wave an Ebay receipt under their nose. Make sure it has your name and address on as matching your bank details.

Receipts are a good idea to store though for tax purposes for if anything comes of this. The bank should not need to see proof of purchase if they buy and sell dinars and you have an account with them, though some might ask. For all they know, you are cashing in dinar you got while travelling, etc.
the answer is no, you do not need a reciept.

[NotAPHD]

the answer is no, you do not need a reciept.

Or no, you don't need a receipt, even.

[baz]

What kind of rat can you smell Baz?


The sort of RAT that is just out to, lets say worry some folk who might have doubts about owning their Dinar....you know a wind up.

This person ask's can you convert with out ID, who has NO ID these days?, everyone has something if you think about it....unless of course you dont exist, and we all know how many of them their are these days.

Sorry to ask a stupid Q, but has no problem with buying Dinar, did anyone on here buy Dinar without doing a bit of homework?. I mean this is Iraq money, not food.

Bought Dinar from E-Bay, lets presume this person bought this Dinar themself on E-Bay, dont know about other countries rules on E-Bay, but dont you have to have a bank account and another form of payment, ie credit/debit card so E-Bay can collect their fee's. Friend could have bought it for them of course.

The NO ID bit rings alarm bells to me, remember though its nothing to do with me, a good example is a couple of days ago. I had two illegals come to me wanting to buy something i own, they wanted finance, i asked for ID, and entry papers for our country, they made every excuse in the book, will come back later...yeah right.

Of course this could be like the other 9 out of 10 times i am wrong....wrong again.......but i still think its a wind up.

[NotAPHD]

This person ask's can you convert with out ID, who has NO ID these days?, everyone has something if you think about it....unless of course you dont exist, and we all know how many of them their are these days.

Or maybe they are asking a genuine question because they are not sure and what you take to mean ID actually means, a receipt, if English is not their first language and the translation is a bit off.

Although I think you have to be wary of anyone's motives to an extent are we getting so paranoid here that people cannot ask basic questions without being accused every five minutes of being subversive or a pumper or a rat?

Here is probably the only place that has convinced itself in a heartbeat Warka Bank is going to run off with their money as well.

[Howler]

Does anyone know how they will do it for those who bought their dinar on the Iraq economy? I know myself and many others bought while we were there and so there are no receipts. Maybe we can show our passports to prove we were there? Just curious.....Donna


Same same here.
I have my passpaort with several PAGES of Iraqi stamps.:tmi:

[baz]

Or maybe they are asking a genuine question because they are not sure and what you take to mean ID actually means, a receipt, if English is not their first language and the translation is a bit off.

Although I think you have to be wary of anyone's motives to an extent are we getting so paranoid here that people cannot ask basic questions without being accused every five minutes of being subversive or a pumper or a rat?

Here is probably the only place that has convinced itself in a heartbeat Warka Bank is going to run off with their money as well.

Well if someone has a bad grasp of English because its not their first language, they did a good job on here, so who wrote the post?. My take on this is this person is asking do they need ID to change up Dinar...not do they need a receipt to prove the purchase.

I dont think for one moment this person is a Pumper or Rat and no subversive here.

Never entered my mind for a moment that Warka Bank will do a runner. I for one am not bothered about them one little bit.

Suppose it didnt enter the minds of the Rocks customers that it was going walkabout either, we are a civilised country in the terms of banking, allmost the top country, but only a measly £35 thousand is guaranteed if the bank scarpers, a very good friend who is a top class money adviser has said "never ever now put more then this amount in any one bank, anymore". Who would have thought this let alone said this 3 years ago, and where is Warka Bank?.

On this forum their are so many good people who have big doubts about investing in Dinar/Warka etc, its not nice to play with folks minds just for the hell of it, but people do, some folk worry, thats why i smelt a rat in the post.... and i still do, i think thats what it is......a wind up, but we shall see.

[ajcp2000]

you will have the same tax problems like millonaires today