Skybear

The REAL DEAL with Wells Fargo and Dinars

47 posts in this topic

For those who are in the "PREPARATION" state, I though I would outline what several of us learned today from the REGIONAL PRIVATE BANKER and also from the SENIOR FOREIGN EXCHANGE TELLER for Wells Fargo in our area of the METROPLEX of Dallas/Ft/ Worth:

#1.. The principal bank branch appointed in this area to handle ALL FOREIGN EXCHANGE has NO DELARU machine! They have not EVER had one and there are no known plans for GETTING one.

#2. The bank's primary business is NOT FOERIGN CURRENCY EXCHANGE. It is simply and only ONE SERVICE offered to the bank's customers. . . ."kind of like ATM Machines," said the Regional Private Banker.

#3. Should any customer bring-in any LARGE quantity of any foreign currency (ESPECIALLY any currency from any Middle Eastern Country), the Senior Teller (who is RESPONSIBLE to the bank for any ERRORS of counterfeit or OTHER problem concerning the currency), she will DENY acceptance until the currency is APPROVED and ACCEPTED by the Wells Fargo Foreign Currency Clearing House in the North part of the Midwest. This process could require up to THREE WEEKS! It is GUARANTEED that a million US Dollars worth of even an APPROVED, well-established currency, like British Pounds would involve sending it OFF for verification, validation and credit. For any MIDDLE EASTERN currency - internationally traded or NOT - it would FOR CERTAIN be sent off;

#4. A WIRE TRANSFER by DOMESTIC FED WIRE SERVICE into the bank from the BROKER's US BANK who orginially SOLD the dinars and then BOUGHT IT BACK with it's new value, would be BEST! The wire would be held in a "pending" status for a maximum of 24-hours to allow for any needed administrative corrections to errors made by the bank SENDING or by Wells Fargo. AFTER THAT, the funds are FREE AND CLEAR.

#5. Currency Exchange offices at major airports (i.e. DFW Airport) are LICENSED to do exchanges and can send the funds by wire from THEIR central bank to Wells Fargo (or presumably your bank, as well).

But all the crapola you have heard about there being Delaru machines in every bank is DEAD WRONG! IT JUST AIN'T SO!!

So. . . . .looks like selling to one the facilities of Ali at Dinar Trade, Inc. or to Dinar Banker is going tyo be the best way. All this "crap" being touted that BANKS WILL OFFER THE SAME AS ALI is JUST THAT - - -CRAP!

At least for those of you intending on using Wellas Fargo for your funds. . .AFTER you have funds to SEND. . .they are as good a bank as any, but do NOT listen to any more CRAP about these banks all having Delaru machines! Do NOT listen that they have agreed to give quick and immediate service if you turn in to them. They WILL send off your dinars for verification and validation to their Central Foreign Exchange Clearing House for your credit, and it will take UP TO 3 WEEKS!!

Need to check it out?? Contact the Wells Fargo Regional Foreign Currency Exchange Bank and ask for the Foreign Currency Exchange Head Teller: ***-***-****.

ASK her about them having any Delaru machines.

ALL THIS is treated with RESPECT. The bank does not even ACKNOWLEDGE and will not and does not PLAN to accept, buy, sell or deal in Iraqi dinars - NOW or EVER.

Hope this begins to "wash-away" some of the horse manure spread on these stupid bank stories. If we are 1-3 days away from Dinars RV'ing. . .one would THINK at least ONE PERSON in the Area Foreign Currency Exchange Bank Branch ought to be taught SOMETHING about DOING it if it is supposed to happen in 1-3 days!

Edited by Markinsa
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I am headed to TD Bank, here in the Philly area...They need no De La Rue machine, the telllers know what to look for, is what I was told by a bank manager....They sold me most of my dinar and said they would buy all back, if and when becomes a tradable currency

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I am headed to TD Bank, here in the Philly area...They need no De La Rue machine, the telllers know what to look for, is what I was told by a bank manager....They sold me most of my dinar and said they would buy all back, if and when becomes a tradable currency

TD Bank in boston stopped selling dinar :-\ wth

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For those who are in the "PREPARATION" state, I though I would outline what several of us learned today from the REGIONAL PRIVATE BANKER and also from the SENIOR FOREIGN EXCHANGE TELLER for Wells Fargo in our area of the METROPLEX of Dallas/Ft/ Worth:

#1.. The principal bank branch appointed in this area to handle ALL FOREIGN EXCHANGE has NO DELARU machine! They have not EVER had one and there are no known plans for GETTING one.

#2. The bank's primary business is NOT FOERIGN CURRENCY EXCHANGE. It is simply and only ONE SERVICE offered to the bank's customers. . . ."kind of like ATM Machines," said the Regional Private Banker.

#3. Should any customer bring-in any LARGE quantity of any foreign currency (ESPECIALLY any currency from any Middle Eastern Country), the Senior Teller (who is RESPONSIBLE to the bank for any ERRORS of counterfeit or OTHER problem concerning the currency), she will DENY acceptance until the currency is APPROVED and ACCEPTED by the Wells Fargo Foreign Currency Clearing House in the North part of the Midwest. This process could require up to THREE WEEKS! It is GUARANTEED that a million US Dollars worth of even an APPROVED, well-established currency, like British Pounds would involve sending it OFF for verification, validation and credit. For any MIDDLE EASTERN currency - internationally traded or NOT - it would FOR CERTAIN be sent off;

#4. A WIRE TRANSFER by DOMESTIC FED WIRE SERVICE into the bank from the BROKER's US BANK who orginially SOLD the dinars and then BOUGHT IT BACK with it's new value, would be BEST! The wire would be held in a "pending" status for a maximum of 24-hours to allow for any needed administrative corrections to errors made by the bank SENDING or by Wells Fargo. AFTER THAT, the funds are FREE AND CLEAR.

#5. Currency Exchange offices at major airports (i.e. DFW Airport) are LICENSED to do exchanges and can send the funds by wire from THEIR central bank to Wells Fargo (or presumably your bank, as well).

But all the crapola you have heard about there being Delaru machines in every bank is DEAD WRONG! IT JUST AIN'T SO!!

So. . . . .looks like selling to one the facilities of Ali at Dinar Trade, Inc. or to Dinar Banker is going tyo be the best way. All this "crap" being touted that BANKS WILL OFFER THE SAME AS ALI is JUST THAT - - -CRAP!

At least for those of you intending on using Wellas Fargo for your funds. . .AFTER you have funds to SEND. . .they are as good a bank as any, but do NOT listen to any more CRAP about these banks all having Delaru machines! Do NOT listen that they have agreed to give quick and immediate service if you turn in to them. They WILL send off your dinars for verification and validation to their Central Foreign Exchange Clearing House for your credit, and it will take UP TO 3 WEEKS!!

Need to check it out?? Contact the Wells Fargo Regional Foreign Currency Exchange Bank and ask for the Foreign Currency Exchange Head Teller: ***-***-****.

ASK her about them having any Delaru machines.

ALL THIS is treated with RESPECT. The bank does not even ACKNOWLEDGE and will not and does not PLAN to accept, buy, sell or deal in Iraqi dinars - NOW or EVER.

Hope this begins to "wash-away" some of the horse manure spread on these stupid bank stories. If we are 1-3 days away from Dinars RV'ing. . .one would THINK at least ONE PERSON in the Area Foreign Currency Exchange Bank Branch ought to be taught SOMETHING about DOING it if it is supposed to happen in 1-3 days!

This is very very interesting would you mind sharing their names and telephone numbers with us?

Thanks

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According to my TD Bank people here in Jersey they'll buy all my Dinars back, I just have to wait 3 days for it to clear.

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With all due respect SKYBEAR, your efforts to put to rest some of the poorly received information from some of our members is greatly appreciated. Nonetheless, it is not all bad information, and I suspect that most of it is not intentionally provided to do harm or mislead.

What you have uncovered pertains exclusively to Wells Fargo Banks, if I read it clearly. Thus, I would caution that unless you know for certain that this speaks for all banking institutions, then it is not necessarily accurate as it pertains to others.

I thank you for your effort to help us all get a clear notion of what to expect when the RV occurs, but hasten you to not be so critical of others efforts as well.

Just my opinion!

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For those who are in the "PREPARATION" state, I though I would outline what several of us learned today from the REGIONAL PRIVATE BANKER and also from the SENIOR FOREIGN EXCHANGE TELLER for Wells Fargo in our area of the METROPLEX of Dallas/Ft/ Worth:

#1.. The principal bank branch appointed in this area to handle ALL FOREIGN EXCHANGE has NO DELARU machine! They have not EVER had one and there are no known plans for GETTING one.

#2. The bank's primary business is NOT FOERIGN CURRENCY EXCHANGE. It is simply and only ONE SERVICE offered to the bank's customers. . . ."kind of like ATM Machines," said the Regional Private Banker.

#3. Should any customer bring-in any LARGE quantity of any foreign currency (ESPECIALLY any currency from any Middle Eastern Country), the Senior Teller (who is RESPONSIBLE to the bank for any ERRORS of counterfeit or OTHER problem concerning the currency), she will DENY acceptance until the currency is APPROVED and ACCEPTED by the Wells Fargo Foreign Currency Clearing House in the North part of the Midwest. This process could require up to THREE WEEKS! It is GUARANTEED that a million US Dollars worth of even an APPROVED, well-established currency, like British Pounds would involve sending it OFF for verification, validation and credit. For any MIDDLE EASTERN currency - internationally traded or NOT - it would FOR CERTAIN be sent off;

#4. A WIRE TRANSFER by DOMESTIC FED WIRE SERVICE into the bank from the BROKER's US BANK who orginially SOLD the dinars and then BOUGHT IT BACK with it's new value, would be BEST! The wire would be held in a "pending" status for a maximum of 24-hours to allow for any needed administrative corrections to errors made by the bank SENDING or by Wells Fargo. AFTER THAT, the funds are FREE AND CLEAR.

#5. Currency Exchange offices at major airports (i.e. DFW Airport) are LICENSED to do exchanges and can send the funds by wire from THEIR central bank to Wells Fargo (or presumably your bank, as well).

But all the crapola you have heard about there being Delaru machines in every bank is DEAD WRONG! IT JUST AIN'T SO!!

Thank you for the post...that goes in line with what BOA branch manager told me, but the funds would be available as soon as verified by their main branch, about 7 business days. However, you did bring up a good point, I bank with USAA and they do not work with foreign currency, however, according to your information, I can go to a major airpost and have them wire money directly into my USAA account. Initially I was going to have accounts in a few different banks and then transfer all to USAA, sounds like I can save money by using airport. Thanks again. something to think about. smile.gif

So. . . . .looks like selling to one the facilities of Ali at Dinar Trade, Inc. or to Dinar Banker is going tyo be the best way. All this "crap" being touted that BANKS WILL OFFER THE SAME AS ALI is JUST THAT - - -CRAP!

At least for those of you intending on using Wellas Fargo for your funds. . .AFTER you have funds to SEND. . .they are as good a bank as any, but do NOT listen to any more CRAP about these banks all having Delaru machines! Do NOT listen that they have agreed to give quick and immediate service if you turn in to them. They WILL send off your dinars for verification and validation to their Central Foreign Exchange Clearing House for your credit, and it will take UP TO 3 WEEKS!!

Need to check it out?? Contact the Wells Fargo Regional Foreign Currency Exchange Bank and ask for the Foreign Currency Exchange Head Teller: ***-***-****.

ASK her about them having any Delaru machines.

ALL THIS is treated with RESPECT. The bank does not even ACKNOWLEDGE and will not and does not PLAN to accept, buy, sell or deal in Iraqi dinars - NOW or EVER.

Hope this begins to "wash-away" some of the horse manure spread on these stupid bank stories. If we are 1-3 days away from Dinars RV'ing. . .one would THINK at least ONE PERSON in the Area Foreign Currency Exchange Bank Branch ought to be taught SOMETHING about DOING it if it is supposed to happen in 1-3 days!

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I would think that when this all happens, they would be more than happy to help.

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With all due respect SKYBEAR, your efforts to put to rest some of the poorly received information from some of our members is greatly appreciated. Nonetheless, it is not all bad information, and I suspect that most of it is not intentionally provided to do harm or mislead.

What you have uncovered pertains exclusively to Wells Fargo Banks, if I read it clearly. Thus, I would caution that unless you know for certain that this speaks for all banking institutions, then it is not necessarily accurate as it pertains to others.

I thank you for your effort to help us all get a clear notion of what to expect when the RV occurs, but hasten you to not be so critical of others efforts as well.

Just my opinion!

BilloO -

You ar absolutely correct! I have absolutely NO data on ANY OTHER bank. It may very well be that Chase or B of A or some other bank has an ENTIRELY different view or stand - both as to what they will ACCEPT and also how they would process it.

But so OFTEN we have heard stories which have stated that the Wells Fargo bank being supposedly one of the "MAIN" recipients of Dinars.

BOTTOM LINE. . .SEVERAL WELLS FARGO long-term and WELL-ESTABLISHED customers who hold LARGE AMOUNTS of dinars went in TOGETHER and met PRIVATELY with the Regional Private Banker for Wells who SPECIFICALLY CAME to this branch for SPECIFICALLY this meeting.

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Not that I plan to use wells fargo but if I did. I have been waiting 5+ years 3 extra weeks. Yeah I can do that No problemo

GO RV !!!

Edited by dog53
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For those who are in the "PREPARATION" state, I though I would outline what several of us learned today from the REGIONAL PRIVATE BANKER and also from the SENIOR FOREIGN EXCHANGE TELLER for Wells Fargo in our area of the METROPLEX of Dallas/Ft/ Worth:

#1.. The principal bank branch appointed in this area to handle ALL FOREIGN EXCHANGE has NO DELARU machine! They have not EVER had one and there are no known plans for GETTING one.

#2. The bank's primary business is NOT FOERIGN CURRENCY EXCHANGE. It is simply and only ONE SERVICE offered to the bank's customers. . . ."kind of like ATM Machines," said the Regional Private Banker.

#3. Should any customer bring-in any LARGE quantity of any foreign currency (ESPECIALLY any currency from any Middle Eastern Country), the Senior Teller (who is RESPONSIBLE to the bank for any ERRORS of counterfeit or OTHER problem concerning the currency), she will DENY acceptance until the currency is APPROVED and ACCEPTED by the Wells Fargo Foreign Currency Clearing House in the North part of the Midwest. This process could require up to THREE WEEKS! It is GUARANTEED that a million US Dollars worth of even an APPROVED, well-established currency, like British Pounds would involve sending it OFF for verification, validation and credit. For any MIDDLE EASTERN currency - internationally traded or NOT - it would FOR CERTAIN be sent off;

#4. A WIRE TRANSFER by DOMESTIC FED WIRE SERVICE into the bank from the BROKER's US BANK who orginially SOLD the dinars and then BOUGHT IT BACK with it's new value, would be BEST! The wire would be held in a "pending" status for a maximum of 24-hours to allow for any needed administrative corrections to errors made by the bank SENDING or by Wells Fargo. AFTER THAT, the funds are FREE AND CLEAR.

#5. Currency Exchange offices at major airports (i.e. DFW Airport) are LICENSED to do exchanges and can send the funds by wire from THEIR central bank to Wells Fargo (or presumably your bank, as well).

But all the crapola you have heard about there being Delaru machines in every bank is DEAD WRONG! IT JUST AIN'T SO!!

So. . . . .looks like selling to one the facilities of Ali at Dinar Trade, Inc. or to Dinar Banker is going tyo be the best way. All this "crap" being touted that BANKS WILL OFFER THE SAME AS ALI is JUST THAT - - -CRAP!

At least for those of you intending on using Wellas Fargo for your funds. . .AFTER you have funds to SEND. . .they are as good a bank as any, but do NOT listen to any more CRAP about these banks all having Delaru machines! Do NOT listen that they have agreed to give quick and immediate service if you turn in to them. They WILL send off your dinars for verification and validation to their Central Foreign Exchange Clearing House for your credit, and it will take UP TO 3 WEEKS!!

Need to check it out?? Contact the Wells Fargo Regional Foreign Currency Exchange Bank and ask for the Foreign Currency Exchange Head Teller: ***-***-****.

ASK her about them having any Delaru machines.

ALL THIS is treated with RESPECT. The bank does not even ACKNOWLEDGE and will not and does not PLAN to accept, buy, sell or deal in Iraqi dinars - NOW or EVER.

Hope this begins to "wash-away" some of the horse manure spread on these stupid bank stories. If we are 1-3 days away from Dinars RV'ing. . .one would THINK at least ONE PERSON in the Area Foreign Currency Exchange Bank Branch ought to be taught SOMETHING about DOING it if it is supposed to happen in 1-3 days!

Not sure what happened to my post earlier, but again, thank you. BOA basically told me the same thing, but would have to send the dinar to main branch to be certified, she said about 7 business days. It would seem a waste of money to put de la rue machines in all branches after the RV, I imagine everyone holding dinar will try to cash in as soon as possible making the cost of those machines a waste of money. You did bring up a good point about cashing in at the Airport and having the money wired to my account. I bank with USAA and was thinking of cashing in at a few different banks and having the money then transferred to USAA, however, if I can cash in at the airport, then I can save a little money. Something to think about.

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I am headed to TD Bank, here in the Philly area...They need no De La Rue machine, the telllers know what to look for, is what I was told by a bank manager....They sold me most of my dinar and said they would buy all back, if and when becomes a tradable currency

that is what my bank Associated Bank said when becomes a tradable currency

Edited by jaman
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With all due respect SKYBEAR, your efforts to put to rest some of the poorly received information from some of our members is greatly appreciated. Nonetheless, it is not all bad information, and I suspect that most of it is not intentionally provided to do harm or mislead.

What you have uncovered pertains exclusively to Wells Fargo Banks, if I read it clearly. Thus, I would caution that unless you know for certain that this speaks for all banking institutions, then it is not necessarily accurate as it pertains to others.

I thank you for your effort to help us all get a clear notion of what to expect when the RV occurs, but hasten you to not be so critical of others efforts as well.

Just my opinion!

Nicely put! Kudos! IMO

In Joy :D

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BilloO -

You ar absolutely correct! I have absolutely NO data on ANY OTHER bank. It may very well be that Chase or B of A or some other bank has an ENTIRELY different view or stand - both as to what they will ACCEPT and also how they would process it.

But so OFTEN we have heard stories which have stated that the Wells Fargo bank being supposedly one of the "MAIN" recipients of Dinars.

BOTTOM LINE. . .SEVERAL WELLS FARGO long-term and WELL-ESTABLISHED customers who hold LARGE AMOUNTS of dinars went in TOGETHER and met PRIVATELY with the Regional Private Banker for Wells who SPECIFICALLY CAME to this branch for SPECIFICALLY this meeting.

Thanks again SKYBEAR,

No harm was intended by either you or me on this topic. We both just want the truth and the facts, wherever that leads.

Keep up the good work, please.

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Hey jbbdolphins,

You wrote:

Not sure what happened to my post earlier, but again, thank you. BOA basically told me the same thing, but would have to send the dinar to main branch to be certified, she said about 7 business days. It would seem a waste of money to put de la rue machines in all branches after the RV, I imagine everyone holding dinar will try to cash in as soon as possible making the cost of those machines a waste of money. You did bring up a good point about cashing in at the Airport and having the money wired to my account. I bank with USAA and was thinking of cashing in at a few different banks and having the money then transferred to USAA, however, if I can cash in at the airport, then I can save a little money. Something to think about.

Be VERY CAREFUL that you understand that USAA BANK does NOT have any "TRANSACTIONAL" accounts. ALL USAA accounts earn INTEREST. This means that the TOTAL DEPOSIT from ALL DEPOSITS however many you might spread them, are LIMITED to $250,000 TOTAL CUMULATIVE FDIC insured coverage.

ONLY banks which offer "TRANSACTIONAL" (i.e. NON-INTEREST accounts) are covered by UNLIMITED DEPOSIT coverage until the end of the year.

What this means is that if you deposit over $250,000 into USAA - no matter HOW MANY DIFFERENT accounts you split it up between - you are insured ONLY to a maximum amount of $250,000 TOTAL.

In other banks, you can open a NON-INTEREST checking account and it is covered by FDIC to ANY amount! This is NOT AVAILABLE at USAA and they are NOT INTERESTED in making such accounts available to members.

Edited by Skybear
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I have a question, do the casinos change foreign currency? Seems as if they get all these nationalities in their casinos, so they should be set up to exchange. Haven't talked to anyone at one, just flashed into my head as I was dozing off last night. LOL. I would drop a couple hundred to get it cashed in.

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If I recall correctly Sonny1 said here on Forum like 2 months ago that he decided to go with WF after having a conversation with a WF VP and they kinda struck a deal.

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This is very very interesting would you mind sharing their names and telephone numbers with us?

Thanks

Ask for the Senior Foreign Exchange Teller (she is an English Lady by the name of 'LIZ'). The phone is 817-481-2531.

The Private Banker asked our group to keep his honest answers to our questions and his name confidential for obvious reasons.

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I wonder if we can fly domestically with Dinar? For example, if a bank tells me their currency branch is located in another city, why not hop on Southwest Airlines, cash in your Dinar, and take a mini-vacay...just a thought...

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Funny thing is, I live in Washington State and had a nice conversation with my Bank Manager at Wells Fargo. I explained my situation with the Dinar and she stated that they would verify the currency on site, if questions arose, she would send it off to Portland Oregon for verification. Amounts were discussed also. She was informed about foreign currencies.

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Ask for the Senior Foreign Exchange Teller (she is an English Lady by the name of 'LIZ'). The phone is 817-481-2531.

The Private Banker asked our group to keep his honest answers to our questions and his name confidential for obvious reasons.

Thanks for the honesty here is why i asked you, I already have a PRIVATE BANKER with Wells Fargo, and they ARE AWARE of the Dinar, we have talked about how we would handle the funds and its disbursement.

You also might want to inform them that they just purchased in July the Currency Division from the Bank Of Ireland.....

Thanks Bull Dog

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Thanks for the honesty here is why i asked you, I already have a PRIVATE BANKER with Wells Fargo, and they ARE AWARE of the Dinar, we have talked about how we would handle the funds and its disbursement.

You also might want to inform them that they just purchased in July the Currency Division from the Bank Of Ireland.....

Thanks Bull Dog

My Private Banker was aware of the Irish purchase several months ago. How about YOU telling ME where YOU bank, so the several of US who are already long-term customers with OUR Private Banker can communicate with YOUR branch? I would like to put our two Private Bankers TOGETHER so there is ONE HYMNAL being used here instead of several.

Edited by Skybear
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Do airport foreign currency exchange locations have de la rue machines? Just curious.

My Private Banker was aware of the Irish purchase several months ago. How about YOU telling ME where YOU bank, so the several of US who are already long-term customers with OUR Private Banker can communicate with YOUR branch? I would like to put our two Private Bankers TOGETHER so there is ONE HYMNAL being used here instead of several.

:woot: :woot: :woot:

Namaste!

Edited by DinarC
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