carolinadukegirl

Wells Fargo Bank Story

33 posts in this topic

I love it, Jeep. After the RV I'm going to pay a visit to the Wells Fargo branch manager that was rude to me and see if she will make change for a 25k note. That ought to tick her off.

Thought she meant IUD, LOL

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Thought she meant IUD, LOL

As bit@chy as the branch manager was I doubt she has ever had any need for an IUD, if you catch my drift. :D

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I spoke with the branch manager at the Wells Fargo bank in Garland, Texas over the summer. She told me the same thing without hesitation. She said Wells Fargo will not be dealing with IQD. It seems to me that Wells Fargo would change their position once the RV occurs as there is money to be made from the spread, the float of our accounts, etc.

I could care less about doing business with Wells Fargo. There are plenty of other banks that will cash us in.

Happy Sunday everyone!

Not necessarily it's very wierd how ill equipped or lacking interest us banks seem to have in dealing with foreign currency. My aunts boyfriend was some kind of oil engineer in the middle east and dubai. He brought home something like 325k euros in cash back with him. He was running all over town looking for a bank to cash it in.

You would think banks would be falling all over themselves for money like that but nobody was interested. He wound up having to go to a foreign currency exchange / broker and wound up paying something like 4% or 4.5% and this is for Euro which is one if not the most popular and easily exchanged currencies far from being the iraqi dinar.

I personally dont believe in overnight rv's that are going to make people rich so a more likely scenario in my mind is just that the currency gains in value rather quickly over a few years but its not going to be millions of dollars for each person cashing in so even less incentive for the bank to deal with such a currency. i do however think specialty services and businesses will pop up to buy in and convert

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Why in the heck are people contacting these banks?? I've said it a thousands times, banks will be the last to know. Iraq will not make a GRAND STAND ANNOUNCEMENT about them RV'ing period..It will just show up on Forex and then the banks will make their adjustments... Thats how foreign currency works. I use to work at a bank so I have a little knowledge about the banking system..

Yep! I have no idea why some folk are going to their banks and believe you and me, WF will change their tune when this RV's. WF would be a fool to not participate in the cash in..they can and will make money on the fee and they know they need the money themselves.

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Why in the heck are people contacting these banks?? I've said it a thousands times, banks will be the last to know. Iraq will not make a GRAND STAND ANNOUNCEMENT about them RV'ing period..It will just show up on Forex and then the banks will make their adjustments... Thats how foreign currency works. I use to work at a bank so I have a little knowledge about the banking system..

Most likely the reason people are contacting these banks is simply because they had purchased the Dinar there. Banks buy and sell forgien currency every day. It would be a lot easier to just go were you know to do the cash in(You bought currency ie CASH). Most if not all Banks have relationships or offer in house financial planning. So to me it would stand to good reason to stay incontact with your bank.

I know not everyone bought Dinar there. It has been a while since most banks sold dinar. You have to keep in mind going to their bank is their comfort zone(mine too that is why I tried to saty on top of the banks), One other good point is if you open a non intrest bearing checking account to hold the money while you plan your investments ect.. NON interest bearing accounts (correct me if I am wrong) are covered for 100% of the actual balance by the FDIC. Where as interest bearing accouns are usually insured at only $250,000 through the FDIC. So that is my take as to why people are contacting banks.

I know look to Forex and other places first but again that is out of the comfort zone. I am sure people feel more secure knowing their Bank has the rates versus Forex ect..

I will admitt I am sure some are contacting banks just for drama....;)

Edited by steveinfla
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