First Citizens Bank in NC, SC, VA, TN, WVA, DC, WA, California

[cadihunter]

First Citizens does exchange the dinar. I was a branch manager with them for the last 2 years. They have a sister bank in California and Florida called Ironstone bank. Look them up as well. I personally talked to our international folks before I left to make sure the would exchange any amount I had. I bought my first batch from FCB because I knew it would be good. They have bought four banks in the last 8-9 months in CA and FL. Also have Ironstone in other places besides those.

[luckylucy]

First Citizens does exchange the dinar. I was a branch manager with them for the last 2 years. They have a sister bank in California and Florida called Ironstone bank. Look them up as well. I personally talked to our international folks before I left to make sure the would exchange any amount I had. I bought my first batch from FCB because I knew it would be good. They have bought four banks in the last 8-9 months in CA and FL. Also have Ironstone in other places besides those.

Thanks for that info cadihunter! First Citizens has a great reputation here, locally. Since they are strong enough to buy failing banks, I'm excited about doing business with them.

luckylucy

[cadihunter]

Also, You can not just go to the data center to do business, you will have to take them to a local branch and they will send them to the international department where they will confirm the dinars and then give you credit.

[markisuncfan]

Also, You can not just go to the data center to do business, you will have to take them to a local branch and they will send them to the international department where they will confirm the dinars and then give you credit.

TY Lucy and Cadihunter for the FCB info, I look at it this way....if I take many millions of IQD to FCB to exchange...then I am sure a banking mgr or equivalent will be happy enough to have my $$ in their bank they will escort me to the Data Ctr....beacuse my Dinar will not leave my site. LOL

[luckylucy]

Also, You can not just go to the data center to do business, you will have to take them to a local branch and they will send them to the international department where they will confirm the dinars and then give you credit.

If you haven't visited the Garner Data Center you probably don't realize that the Data Center and a local branch occupy the same building, which is what makes this so nice for me or anyone close by. I can open an account at any branch then go to the data center for the exchange. I've already confirmed this process with the appropriate persons.

Of course, I'm also prepared to drive to TN or wherever Ali's closest office happens to be. In that case, my bank options are unlimited.

I and several other friends have already discussed doing this together.

[truckerron49]

Had in-bank meeting today (March 4, 2010) with rep, "Brandy," in local Cary, NC branch of First Citizens Bank. We spoke on speaker phone with rep from their International Banking dept, in Garner, NC.

Here's what I learned.

First Citizens Bank DOES buy and sell dinar.

1. website is https://www.firstcitizens.com; to find branch near you in NC, SC, VA, TN, WV, CA, DC & WA.

2. Home office is in Raleigh, NC with Data Center in Garner, NC. Data Center in Garner, NC has the de la rue machine for foreign currency.

That's Garner, North Carolina, Wake County (a few miles outside of Raleigh, NC .. .home of the NC Hurricanes!)

3. Any exchange of foreign currency can be taken to the Garner office and exchanged there. Otherwise, you can make the exchange at a branch bank, but the currency will be sent to the Garner office. I suggest taking it to the Garner office AFTER opening an account.

4. they do exchanges for non-members of their bank, but have a maximum cap of $200K USD per non-member. There is NO Cap on bank members. (ie, open an account with them).

5. Apparently, they are such a strong bank they are buying out others ... and, have a great CD rate to increase their liquidity. First Citizens Bank was started by the Holding family of Wake Forest, NC and still operates like a small town bank, but increasing in national presence.

I asked about TODAY's exchange rates, just to get an idea: here's info on March 4, 2010:

BUY dinars from First Citizens at .0017076

SELL dinars to First Citizens at .00067271

I'm planning to talk to several other banks and when I do "cash-in," I will go with the bank or exchange business that gives me the best rate. I do plan to negotiate. Remember, public rates do not take into consideration large currency exchanges.

Hope this is helpful, but PLEASE ... do your own research and establish your relationship with your banker and financial advisor!

Anyone in my area, feel free to leave me PM or Visitor Message.

Jeanette

Thank you Lucy. This is the same for many banks that have been mentioned in the past. You have gone the extra mile and documented it however. Thanks again....

Ron

[shenew]

Go to this site to see how safe the banks are that you are or may be dealing with. I was surprised to see that one of the banks I deal with (Suntrust) has a rating of D- which is in the weak catagory, "E" is the lowest rating which is "very weak". Suntrust appears to be a blip away from E or very weak.

http://www.thestreet.com/bank-safety/index.html

Wow! What a shock! We have accounts in four different banks. When I went to that site, 2 of my banks had D ratings and 2 had C ratings. That's really scary when I consider that was where my future wealth was going. I'm going to be looking for a better place. Thanks for the heads up!

[eddieisme]

To me, buying from them at $1706 is high, but the sell rate to them seems very low, unless I'm not reading it right.

I guess that is their "spread". Remember Ali is only $150 per million. His rate I'm sure will be much better than most if not all banks. I did find out from BOA that they have daily limits on internal transfers of $1000 per day. I hope Ali has exemptions in place. I'd have to wait a long time at $1000 a day.

[LUHRST32]

Thanks for that info cadihunter! First Citizens has a great reputation here, locally. Since they are strong enough to buy failing banks, I'm excited about doing business with them.

luckylucy

IronStone has locations in 12 states. There site address is www.ironstone.com.

They are great to deal with and owned by First Citizens.

[1lucky1]

Had in-bank meeting today (March 4, 2010) with rep, "Brandy," in local Cary, NC branch of First Citizens Bank. We spoke on speaker phone with rep from their International Banking dept, in Garner, NC.

Here's what I learned.

First Citizens Bank DOES buy and sell dinar.

1. website is https://www.firstcitizens.com; to find branch near you in NC, SC, VA, TN, WV, CA, DC & WA.

2. Home office is in Raleigh, NC with Data Center in Garner, NC. Data Center in Garner, NC has the de la rue machine for foreign currency.

That's Garner, North Carolina, Wake County (a few miles outside of Raleigh, NC .. .home of the NC Hurricanes!)

3. Any exchange of foreign currency can be taken to the Garner office and exchanged there. Otherwise, you can make the exchange at a branch bank, but the currency will be sent to the Garner office. I suggest taking it to the Garner office AFTER opening an account.

4. they do exchanges for non-members of their bank, but have a maximum cap of $200K USD per non-member. There is NO Cap on bank members. (ie, open an account with them).

5. Apparently, they are such a strong bank they are buying out others ... and, have a great CD rate to increase their liquidity. First Citizens Bank was started by the Holding family of Wake Forest, NC and still operates like a small town bank, but increasing in national presence.

I asked about TODAY's exchange rates, just to get an idea: here's info on March 4, 2010:

BUY dinars from First Citizens at .0017076

SELL dinars to First Citizens at .00067271

I'm planning to talk to several other banks and when I do "cash-in," I will go with the bank or exchange business that gives me the best rate. I do plan to negotiate. Remember, public rates do not take into consideration large currency exchanges.

Hope this is helpful, but PLEASE ... do your own research and establish your relationship with your banker and financial advisor!

Anyone in my area, feel free to leave me PM or Visitor Message.

Jeanette

I just called the FCB in Garner NC and talked with the manager there...she said they do not have a De La Rue machine and have to send Dinar to the "back room" as she called it....I asked what that meant and she did not elaborate other than saying they have to send it there....if you have a contact that I could call I would appreciate any info from you...thanks

[tcat1]

Remember people to note the amount your bank (the FDIC) will insure, I think it's like 250k. Me personally, Im will spread it across several accounts until I figure it all out.

Unlimited until 12/31/12 by govt decree but determine your banks health via Weiss bank grading of financial institutions. And distribute your funds to various sources.