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Ok, I'm calling B/S on BofA and Chase...


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#1 hspotman

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Posted 21 September 2010 - 11:14 AM

I called the call center for BofA foreign currency exchange to ask them if they do now, or will be dealing with the IQD when Iraq becomes sanctioned. The immediate response was, "We do not deal with Iraq." I also asked them if this was nation wide, and the answer was yes. When I called Chase yesterday, the answer was the same, except they said it was because Iraq wasn't sanctioned. Where are these people getting their info about BofA and Chase and all the other banks they mention?? Do your own research guys, don't put faith into what people say here as "word of God."

BofA's Foreign Currency Exchange phone #- 1-800-523-7860

Edited by hspotman, 21 September 2010 - 11:19 AM.

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#2 dinarette

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Posted 21 September 2010 - 11:29 AM

That's because it hasn't revalued yet, and it's not a tradable currency yet. As soon as it is, they will.

You're talking to people who are beneath those in the know. I've talked to them, too - they'll be enlightened soon enough.

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#3 51BUTKUS51

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Posted 21 September 2010 - 11:37 AM

I HAVE BEEN DEALING CHASE ABOUT THE DINAR AND THEY SAID THEY WOULD EXCHANGE IT WHEN IT RV/RI THEY HAVE NEVER SAID THEY NOTHING NEGATIVE
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#4 MovieMaker

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Posted 21 September 2010 - 11:40 AM

My B of A pulled out a catalogue and found the currency. she said "I don't know anything about foreign currency, but it's in our book, so when it's a legal transaction, we can do it." the catalogue had the old sadam notes on a separate page stating not good in red. the now notes were on another page stating current.

it was the BofA on 377 in Benbrook TX. it's in the Albertsons

Edited by MovieMaker, 21 September 2010 - 11:41 AM.

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#5 BBALL99

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Posted 21 September 2010 - 11:43 AM

I called the call center for BofA foreign currency exchange to ask them if they do now, or will be dealing with the IQD when Iraq becomes sanctioned. The immediate response was, "We do not deal with Iraq." I also asked them if this was nation wide, and the answer was yes. When I called Chase yesterday, the answer was the same, except they said it was because Iraq wasn't sanctioned. Where are these people getting their info about BofA and Chase and all the other banks they mention?? Do your own research guys, don't put faith into what people say here as "word of God."

BofA's Foreign Currency Exchange phone #- 1-800-523-7860


This same question has been posted dozens of times.
Look, most banks do not deal with currency that is
not traded on the forex.
When the Dinar RV's and becomes a recognized
tradable currency things will change overnight.
Put faith in using half a brain and read the information people
that have been here a while have posted.

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#6 hspotman

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Posted 21 September 2010 - 11:46 AM

Thanks for your responses guys, it helps re-assure me a little bit more. Someone call the number I gave and see what they can get out of these people. It's supposed to be the Foreign Currency Exchange call center.-1-800-523-7860
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#7 f150stang

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Posted 21 September 2010 - 11:47 AM

I called the call center for BofA foreign currency exchange to ask them if they do now, or will be dealing with the IQD when Iraq becomes sanctioned. The immediate response was, "We do not deal with Iraq." I also asked them if this was nation wide, and the answer was yes. When I called Chase yesterday, the answer was the same, except they said it was because Iraq wasn't sanctioned. Where are these people getting their info about BofA and Chase and all the other banks they mention?? Do your own research guys, don't put faith into what people say here as "word of God."

BofA's Foreign Currency Exchange phone #- 1-800-523-7860


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#8 hspotman

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Posted 21 September 2010 - 11:48 AM

This same question has been posted dozens of times.
Look, most banks do not deal with currency that is
not traded on the forex.
When the Dinar RV's and becomes a recognized
tradable currency things will change overnight.
Put faith in using half a brain and read the information people
that have been here a while have posted.

and BTW BBALL, it using more than half a brain to do as much research as you can instead of just putting faith into something that is posted on a public message site. It's called being smart and carefull.
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#9 BBALL99

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Posted 21 September 2010 - 02:55 PM

and BTW BBALL, it using more than half a brain to do as much research as you can instead of just putting faith into something that is posted on a public message site. It's called being smart and carefull.


I agree, but before you post statements like you did
you need to spend a lot of time reading thru
the posts so you have a clear understanding of what is
happening. I am not trying to bash you here just take
some time on here and you will get the whole story.

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#10 hspotman

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Posted 21 September 2010 - 03:00 PM

I agree, but before you post statements like you did
you need to spend a lot of time reading thru
the posts so you have a clear understanding of what is
happening. I am not trying to bash you here just take
some time on here and you will get the whole story.


The reason I called the banks is "because" of what everyone was saying here. And I ran all the questions by the associates I was talking to. I asked the BofA associate if they thought they would deal with the IQD "once" it became sanctioned, and she just continued to say that they did not have any corespondence with Iraq at all. I hear what you are saying here, but another reason I was calling and asking them is because of what some here have said about "their" BofA stating that they "do" deal with IQD. That is what I was saying is BS because the regionaly call center should know if some do or don't. But water under the bridge already, info taken and appreciated. Let's just hope the RV happens soon, and it "is" what or near what everyone here is hoping!!
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#11 commonsense

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Posted 21 September 2010 - 03:05 PM

I AGREE. THEY WILL BE PERFORMING CURRENCY EXCHANGE TRANSACTIONS FOR IRAQI DINARS WHEN IT DOES RV. CURRENTLY, WELLS FARGO DOES NOT 'DO' IRAQI DINARS EITHER. BUT, MY REP TOLD ME THAT WHEN IT DOES RV, THEY CERTAINLY WILL.

IT DEPENDS ON WHO YOU TALK TO IN THE BANK, REALLY. I TALKED TO ANOTHER REP ABOUT TWO MONTHS AGO AND THEY IDICATED THEY WOULD NEVER EVER HAVE ANYTHING TO DO WITH IRAQ OR THEIR CURRENCY AS AN INVESTMENT LET ALONE CASHING DINARS IN.
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#12 hspotman

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Posted 21 September 2010 - 03:08 PM

IT DEPENDS ON WHO YOU TALK TO IN THE BANK, REALLY. I TALKED TO ANOTHER REP ABOUT TWO MONTHS AGO AND THEY IDICATED THEY WOULD NEVER EVER HAVE ANYTHING TO DO WITH IRAQ OR THEIR CURRENCY AS AN INVESTMENT LET ALONE CASHING DINARS IN.

Yes, that is the feeling I have gotten every time I talked to a BofA rep. Sh!t, I'll just open up an acocunt at another bank if BofA doesn't, which I'm sure they will now.
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#13 BBALL99

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Posted 21 September 2010 - 03:11 PM

The reason I called the banks is "because" of what everyone was saying here. And I ran all the questions by the associates I was talking to. I asked the BofA associate if they thought they would deal with the IQD "once" it became sanctioned, and she just continued to say that they did not have any corespondence with Iraq at all. I hear what you are saying here, but another reason I was calling and asking them is because of what some here have said about "their" BofA stating that they "do" deal with IQD. That is what I was saying is BS because the regionaly call center should know if some do or don't. But water under the bridge already, info taken and appreciated. Let's just hope the RV happens soon, and it "is" what or near what everyone here is hoping!!


Yes, most tellers at banks are clueless when it comes to the Dinar.
The banks currency exchange tellers don't know much more unless
it is listed on the forex or their currency exchange sheet.
When this becomes a tradeable currency everything will change.

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#14 Who_Dat_Gurl

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Posted 21 September 2010 - 03:15 PM

I called the call center for BofA foreign currency exchange to ask them if they do now, or will be dealing with the IQD when Iraq becomes sanctioned. The immediate response was, "We do not deal with Iraq." I also asked them if this was nation wide, and the answer was yes. When I called Chase yesterday, the answer was the same, except they said it was because Iraq wasn't sanctioned. Where are these people getting their info about BofA and Chase and all the other banks they mention?? Do your own research guys, don't put faith into what people say here as "word of God."

BofA's Foreign Currency Exchange phone #- 1-800-523-7860




I totally understand what you are doing. I am new and I have been asking plenty of questions as you have. Some reply with compassion, some not so much. Doing your homework is very smart and you learn in the process. Some people are just so rude when it comes to those that are not experienced in a particular area. This forum is loaded with lots and lots of info, but is very hard to find and I questions if most of it legit most of the time.

Anyways, I called my local Chase bank several times because, like you, I am curious and want to know how this works. I now realize from searching and from my own initiative, that the banks, especially at the local level, are not going to know anything because the currency is not listed as someone posted to you. Chase told me that they pulled it last year and according to the tellers, as far as they know, at this particular time, their instructions is not to buy or sell. I asked the lady on the phone if something was to take place, will it be something like a spur of the moment memo and she said exactly! The banks have no clue and know just as much as we know. Remember these bank tellers are working just doing their jobs and most of us do and it is their daily routine. A lot are not wondering about Iraqi Dinar and do not invest. As someone posted in another posting, if and when this RV happens, local banks get their memos and will jump on the bandwagon. Things will change and they will start to buy and sell the dinars and want your money for banking. Hope the info. I have learned has helped you some.
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#15 Jac

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Posted 21 September 2010 - 03:17 PM

Surely all banks that deal in Currency Exchanges will also exchange Dinar when they have a rate. Right now even if the IQD are in book or on the computer that means it is showing on the Innerbank level but that there is no rate yet. When there is a rate popping up they will happily exhange IQD for USD.Posted Image
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#16 bowling4dinars

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Posted 21 September 2010 - 03:22 PM

Thanks for your responses guys, it helps re-assure me a little bit more. Someone call the number I gave and see what they can get out of these people. It's supposed to be the Foreign Currency Exchange call center.-1-800-523-7860 begin_of_the_s :lol: kype_highlighting              1-800-523-7860      end_of_the_skype_highlighting begin_of_the_skype_highlighting              1-800-523-7860      end_of_the_skype_highlighting begin_of_the_skype_highlighting              1-800-523-7860      end_of_the_skype_highlighting begin_of_the_skype_highlighting              1-800-523-7860      end_of_the_skype_highlighting

advanced member?
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#17 DTH

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Posted 21 September 2010 - 03:32 PM

I called the call center for BofA foreign currency exchange to ask them if they do now, or will be dealing with the IQD when Iraq becomes sanctioned. The immediate response was, "We do not deal with Iraq." I also asked them if this was nation wide, and the answer was yes. When I called Chase yesterday, the answer was the same, except they said it was because Iraq wasn't sanctioned. Where are these people getting their info about BofA and Chase and all the other banks they mention?? Do your own research guys, don't put faith into what people say here as "word of God."

BofA's Foreign Currency Exchange phone #- 1-800-523-7860

Wells Fargo also
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#18 RandolphA

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Posted 21 September 2010 - 03:35 PM

Talk to my BOA in Florida today and while I had them on the phone I ask them about cashing in Dinar. I was told they would be able and happy to exchange it for me after the RV. I should add that I have accounts with them already.
I also called the IRS to day and they told me that as a non U.S. citizen I will not have to pay tax on my money if I have to come to the U.S. to exchange it. So you can bet I am a happy camper tonight.
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#19 BtrFuture4All

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Posted 21 September 2010 - 03:44 PM

My B of A pulled out a catalogue and found the currency. she said "I don't know anything about foreign currency, but it's in our book, so when it's a legal transaction, we can do it." the catalogue had the old sadam notes on a separate page stating not good in red. the now notes were on another page stating current.

it was the BofA on 377 in Benbrook TX. it's in the Albertsons


I had similar experience when I went to my local BofA in TX to check on purchasing by wire transfer - the loan officer actually volunteered and said: "Let's see if we can purchase for you." She looked in a large book and said the currency is there but not currently available for purchase through BofA. I was pleased with the proactive response by the loan officer.

At that time I did not ask about cash-in, but based on MovieMaker's comments and from from everything I have read on the forums I have absolutely no doubt that the BofA's will be able to cash in the EQD notes. I also feel that branch locations will need to send them to a central BofA location that has the De La Rue (sp?) verification machine (or possibly to a third party financial institution - I understand the machines are quite expensive).

As has been stated in other threads, I feel the procedure at any local bank branch will be to give you a receipt with a number and your account will not actually be credited until after the branch receives their verification which they will pass on to you as the customer.

What I'm not clear on is... Q: Will that receipt show the value of the note at the time the receipt is issued or what the value is at the time of the verification by the machine? If the latter, and it takes several days, that somewhat concerns me. Can anyone clarify that.

I really should make another trip to my local BofA and set up another account in advance strictly for this and I will ask at that tme. I will post back what I find out. If I don't like the response or don't feel comfortable at that point I will visit another bank (or two) and open an account elsewhere. In fact, it might be wise to have more than one account in more than one bank for this purpose? Yes, I should have already started this process. Appreciate feedback from those who have.

BTW, for those wondering if purchasing COD is safe vs wire transfer. I can tell you that my experience going the COD route was very secure and MUCH cheaper than wire transfer and I see absolutely no need to transfer by wire for a purchase. They mentioned since I have a BofA account it could be sent bank to bank direct transfer, but they did not recommend it and right now I don't remember the exact reason except it had to do with delaying the process to match up the numbers when done in overnight batch runs.
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#20 Who_Dat_Gurl

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Posted 21 September 2010 - 03:49 PM

Talk to my BOA in Florida today and while I had them on the phone I ask them about cashing in Dinar. I was told they would be able and happy to exchange it for me after the RV. I should add that I have accounts with them already.
I also called the IRS to day and they told me that as a non U.S. citizen I will not have to pay tax on my money if I have to come to the U.S. to exchange it. So you can bet I am a happy camper tonight.


I am glad you do not have the luxury of paying our taxes, but did you have to brag to the rest us?

Glad you are happy. :)
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