Bank Story at Rotary Meeting

[Maserati]

I just returned from my weekly Rotary meeting. I asked a member, who is a manager at

a TD Bank branch here on Long Island, if she was excited by the latest Dinar news.

She gave me a thumbs down. After the meeting she told me that at her branch, IQDs

are being sold off "by the thousands." She said that IQD is the most active foreign

currency at her bank. She told me that one customer recently sold $50,000 worth

back to the bank and another customer sold over $10,000 worth.

She said that their advisors told them to sell because the dinar has lost value and

they should take the loss before they lose more.

She said that she doesn't have much, but that I shouldn't sell.

I told her what I have learned from Dinar Vets. She knew nothing.

I was dumbfounded by her story, but I am still very positive about our investment.

GO RV.

[DinarDana]

Lobsters at work. I have to agree this is a bit interesting.

Someone on this forum once posted how he held currency from Kuwait and because of discouraging news sold it off, however his buddies didn't. He claimed he isn't going to sell himself short this time around. Since I read this persons post, this stuck in my mind.

So yes it is discouraging to hear that other's have given up and they may be kicking themselves sometime in the future. I will not live with regrets and I will never regret spending money on IQD, the cost of a formal education in foreign policy and banking alone would cost me thousands. So far, this investment has been valuable in knowledge alone.

Thanks for the post.

[k98nights]

I will not live with regrets and I will never regret spending money on IQD, the cost of a formal education in foreign policy and banking alone would cost me thousands. So far, this investment has been valuable in knowledge alone.

I totally agree!

[quadkidd1]

Lobsters at work. I have to agree this is a bit interesting.

Someone on this forum once posted how he held currency from Kuwait and because of discouraging news sold it off, however his buddies didn't. He claimed he isn't going to sell himself short this time around. Since I read this persons post, this stuck in my mind.

So yes it is discouraging to hear that other's have given up and they may be kicking themselves sometime in the future. I will not live with regrets and I will never regret spending money on IQD, the cost of a formal education in foreign policy and banking alone would cost me thousands. So far, this investment has been valuable in knowledge alone.

Thanks for the post.

Hell yes!

I have had quite a history lesson/ education let alone the many many hours and days of dreaming of what could come.

Worth every penny!

Quad

[Joker017]

Maserati,

I wasn't aware that any banks here in the United States were currently dealing in IQD, since it isn't an Internationally Recognized Currency.

[reveldog]

if its all the same to who ever

, i will just hang on to mine

[kosman]

Just wondering, would banks really buy back dinar if they thought that it was going down in value?

[TonyDownTheShore]

Just wondering, would banks really buy back dinar if they thought that it was going down in value?

I'would think so , they make money on the spread, and that's all banks want to do is make money.

How's everything going there where you are ?

[Patriotic_mess]

I think a lot of people are frustrated after years of nothing happening and are cutting their losses. These jokers that claim bank screens and all the other rv friday cash out monday aren't helping things much either. I'm glad you decided to listen to the banker and keep it, like DinarDana said I wouldn't be able to live with myself if I dumped everything and it RV'ed the next day!

[wealthhound]

Lobsters at work. I have to agree this is a bit interesting.

Someone on this forum once posted how he held currency from Kuwait and because of discouraging news sold it off, however his buddies didn't. He claimed he isn't going to sell himself short this time around. Since I read this persons post, this stuck in my mind.

So yes it is discouraging to hear that other's have given up and they may be kicking themselves sometime in the future. I will not live with regrets and I will never regret spending money on IQD, the cost of a formal education in foreign policy and banking alone would cost me thousands. So far, this investment has been valuable in knowledge alone.

Thanks for the post.

DinarDana,

You got me thinking with your post about how valuable all the knowledge that you have gained...No doubt in my mind that this info. will also be very valuable post RV, just think of all the understanding that you as well as others here have when you may choose to invest in others currencies...I admire you guys that can truly put this stuff together...your understanding, I think, will be very valuable in the future as well!! Kudos to you and all the "WISE GUYS" here at DV..I mean that respectfully!!

[jackster]

I just returned from my weekly Rotary meeting. I asked a member, who is a manager at

a TD Bank branch here on Long Island, if she was excited by the latest Dinar news.

She gave me a thumbs down. After the meeting she told me that at her branch, IQDs

are being sold off "by the thousands." She said that IQD is the most active foreign

currency at her bank. She told me that one customer recently sold $50,000 worth

back to the bank and another customer sold over $10,000 worth.

She said that their advisors told them to sell because the dinar has lost value and

they should take the loss before they lose more.

She said that she doesn't have much, but that I shouldn't sell.

I told her what I have learned from Dinar Vets. She knew nothing.

I was dumbfounded by her story, but I am still very positive about our investment.

GO RV.

How is this bank manager able to sell/buy IQD when it is not on their list of available currencies?

http://www.tdbank.com/popup/available_currencies.html

TD Bank, America's Most Convenient Bank Print this page | Close this window

Available Currencies

Country Currency

AED United Arab Emirates Dirham

AUD Australian Dollar

BBD Barbados Dollar

BMD Bermuda Dollar

CAD Canadian Dollar

CHF Swiss Franc

CYP Cyprus Pound

CZK Czech Koruna

DKK Danish Kroner

EUR Euro

GBP Great British Pound

HKD Hong Kong Dollar

HUF Hungarian Forint

INR Indian Rupee

ILS Israeli Shekel

JMD Jamaican Dollar

JPY Japanese Yen

MXN Mexican Peso

NOK Norwegian Kroner

NZD New Zealand Dollar

PKR Pakistan Rupee

PHP Philippine Peso

PLN Polish Zlotych

SAR Saudi Riyal

SEK Swedish Kroner

SGD Singapore Dollar

THB Thai Baht

TRY Turkish (new) Lira

USD United States Dollar

XCD Eastern Caribbean Dollar

ZAR South African Rand

Maserati, your story, which may be true, conflicts with TD Bank's website. IQD's are not available at TD Bank. Can you explain how this manager's bank is buying back IQD?

[kosman]

I'would think so , they make money on the spread, and that's all banks want to do is make money.

How's everything going there where you are ?

Things here pretty much suck. it is the transition time between mud season and dust season. I am waiting for June when I go to the states for a few weeks, I am looking forward the Jersey Shore. Fishing, junk food on the boardwalk, and cold beer. It would be nice to not have to come back here. I will return in any case, but it would be nice to not have to. Now you got me thinking...pizza on the boards, with the cheese that is so hot it burns your lip and just gets streatched into long strings. I hope I am not living too far in the past. It has been a while since I went down the shore.

[SgtFuryUSCZ]

***///

BOO... HISS...

Tell me another one.

Banker, indeed.

[Da Teets]

I have to question this too. TD Bank is where I had originally bought my IQD almost two years ago. I was told by them at least 6 months ago - if not more- that they no longer deal with IQD at all.

[Luigi1]

How is this bank manager able to sell/buy IQD when it is not on their list of available currencies?

http://www.tdbank.com/popup/available_currencies.html

TD Bank, America's Most Convenient Bank Print this page | Close this window

Available Currencies

Country Currency

AED United Arab Emirates Dirham

AUD Australian Dollar

BBD Barbados Dollar

BMD Bermuda Dollar

CAD Canadian Dollar

CHF Swiss Franc

CYP Cyprus Pound

CZK Czech Koruna

DKK Danish Kroner

EUR Euro

GBP Great British Pound

HKD Hong Kong Dollar

HUF Hungarian Forint

INR Indian Rupee

ILS Israeli Shekel

JMD Jamaican Dollar

JPY Japanese Yen

MXN Mexican Peso

NOK Norwegian Kroner

NZD New Zealand Dollar

PKR Pakistan Rupee

PHP Philippine Peso

PLN Polish Zlotych

SAR Saudi Riyal

SEK Swedish Kroner

SGD Singapore Dollar

THB Thai Baht

TRY Turkish (new) Lira

USD United States Dollar

XCD Eastern Caribbean Dollar

ZAR South African Rand

Maserati, your story, which may be true, conflicts with TD Bank's website. IQD's are not available at TD Bank. Can you explain how this manager's bank is buying back IQD?

I ordered other currencies not included on their list including SKW & VND. It took a couple of more business days to get it but I got it because they were not on the short order list, usually 1 to 3 business days. The above currency list is available on short notice. Your order comes to any branch office you choses & you are notified by phone on arrival.

Edited March 16, 2012 by Luigi1

[mrref]

Maserati,

I wasn't aware that any banks here in the United States were currently dealing in IQD, since it isn't an Internationally Recognized Currency.

I bought my dinars from Capital One Bank a few years back. The banks are not stupid they make money when they sell it to you and then they make money when you decide to sell it back to them so guess who loses money ??YOU.

[Maserati]

Maserati,

I wasn't aware that any banks here in the United States were currently dealing in IQD, since it isn't an Internationally Recognized Currency.

Neither was I, but I have known her for 6 years. And as a Rotarian, I expect her to be TRUTHFUL!

[Roadrunner]

Jackster.

What you posted is a list of currencies they can provide for their customers. Just because a bank does not keep a currency on hand doesn't mean that they will not take it in exchange. For example; if you go to any BOA and try to buy Jordanian Dinar, They will not have it on hand. However; if you take the Jordanian Dinar to the bank. they will cash it in at around 1.2USD to 1JD. Which is way up incidentally, because a few months ago it was only about .7USD to 1JD.

Roadrunner

Edited March 16, 2012 by Roadrunner

[DinarBot]

10 Buck Bet. Any IQD Banks are buying back do not make it to CBI. Until Significant Rate Change. Banker on the floor knows ZIP. Banker in Ivory Tower purses LIP. 2012 will see many Earthly Money Records set. Highs and Lows. Hang in there. Get Cheeky Young Mon(k)ey Boys. And Girls.

[andy3978]

TD Bank screens (the ones the employees access) have a 'drop down' menu which when clicked opens a menu with currencies listed. The IQD is NOT listed in this drop down menu anymore--as per my wife who deals with foreign currencies on a daily basis at TD Bank and her manager. Any further information they they need regarding the IQD needs to be fulfilled by the Forex department and requires a phone call or email to the Forex specialists who are NOT at the branch.

[Canuklady]

Lobsters at work. I have to agree this is a bit interesting.

Someone on this forum once posted how he held currency from Kuwait and because of discouraging news sold it off, however his buddies didn't. He claimed he isn't going to sell himself short this time around. Since I read this persons post, this stuck in my mind.

So yes it is discouraging to hear that other's have given up and they may be kicking themselves sometime in the future. I will not live with regrets and I will never regret spending money on IQD, the cost of a formal education in foreign policy and banking alone would cost me thousands. So far, this investment has been valuable in knowledge alone.

Thanks for the post.

Amen DinarDana! What a great attitude you have. I love all your posts especially this one. Very true!

[umbertino]

Jackster.

What you posted is a list of currencies they can provide for their customers. Just because a bank does not keep a currency on hand doesn't mean that they will not take it in exchange. For example; if you go to any BOA and try to buy Jordanian Dinar, They will not have it on hand. However; if you take the Jordanian Dinar to the bank. they will cash it in at around 1.2USD to 1JD. Which is way up incidentally, because a few months ago it was only about .7USD to 1JD.

Roadrunner

Jordanian Dinar, huh? I guess we missed on that one.... Darn....

[jackster]

All right people, I dug a little deeper.

I do appreciate the civil responses on this thread. And those responses caused me to make 2 phone calls.

First call was to Wells Fargo in my town. I asked for 3 different currencies. Saudi, Kuwaiti and Iraqi. I asked for those in relation to the TD Bank list. The Iraqi was our focal point. The Kuwaiti Dinar also did not appear on the list, but the Saudi Riyal did. The Kuwaiti and Saudi currencies were my control tests.

The branch I called is their largest branch and I knew they dealt with foreign currencies. The person's answer to each currency:

Saudi Riyal - restricted by Saudi Gov't. Can be bought at airport in Saudi Arabia

Kuwaiti Dinar - 4 day turnaround

Iraqi Dinar - do not buy nor sell and have no plans in the future. Restricted by US gov't

Her answers were assertive. She did not ask for a supervisor nor interjected her statements with "uuhhh, uummm".

Done deal, right?

Then I called TD Bank in NY City. This branch is located at 655 Avenue of the Americas.

He asked when I would be traveling to those countries and I told him June. His answers to each currency:

Saudi Riyal - 6 business days

Kuwaiti Dinar - 6 business days

Iraqi Dinar - 6 business days

I would need to order them in person, though. They do not hold them in their bank.

Then I wondered if branches in NY were privy. So I called Wells Fargo in NY.

The person told me that they have no plans to buy or sell Iraqi Dinar. He gave me a toll-free number to connect with their foreign currency dept. and that they might have more and better answers regarding Iraqi Dinar.

I called and there was a recorded message stating that they do not have any plans to buy or sell Iraqi Dinar and then gave me their menu listing. They must get a lot of inquiries on Iraqi Dinar.

Wells Fargo is the 4th largest US bank. TD Bank is #15.

Then I called Bank of America, #2 largest bank in US. Same as Wells Fargo. Person at BOA did not know of any banks in US that deal with Iraqi Dinar.

Odd that TD Bank would say they can get Iraqi Dinar, but larger banks do not deal with it. So, I called a different branch in NYC on 1995 Broadway. 3-5 business days on Saudi Riyal and Kuwaiti Dinar, but they do NOT sell or buy Iraqi Dinar. They advised me to call TravelEx because that's what they do. They have Saudi Riyal and Kuwaiti Dinar, but no Iraqi Dinar.

It would appear that the man at the first TD Bank misinformed me. So, I called that first TD Bank branch again. They do NOT sell or buy Iraqi Dinar. Roadrunner, you has a good argument, but the list I submitted is accurate as it pertains to the Iraqi Dinar. The Saudi Riyal and the Kuwaiti Dinar were not on the list but they did confirm that they sell them. Luig1, the Iraqi Dinar is not available. Da Teets,The words used by these people were "...we longer sell that currency..." It is possible that 6 months or 2 years ago they DID sell it.

I am very thorough in my work. I could call other large banks, but I think I would receive the same answers.

Maserati, perhaps she could give you more details on their transactions.

As for other people in this forum that criticize me as being a troll, pretending to be something that I'm not, and that I'm being negative.....

[jackster]

TD Bank screens (the ones the employees access) have a 'drop down' menu which when clicked opens a menu with currencies listed. The IQD is NOT listed in this drop down menu anymore--as per my wife who deals with foreign currencies on a daily basis at TD Bank and her manager. Any further information they they need regarding the IQD needs to be fulfilled by the Forex department and requires a phone call or email to the Forex specialists who are NOT at the branch.

Perhaps you have that contact info.

The person at the toll-free number in Customer Service could not find a Forex Dept or Forex anything. She said foreign currency transactions are made at the branches.

How would your wife then make an IQD transaction with TD Bank? Has she made any IQD transactions at TD Bank?

[Maserati]

How is this bank manager able to sell/buy IQD when it is not on their list of available currencies?

http://www.tdbank.com/popup/available_currencies.html

TD Bank, America's Most Convenient Bank Print this page | Close this window

Available Currencies

Country Currency

AED United Arab Emirates Dirham

AUD Australian Dollar

BBD Barbados Dollar

BMD Bermuda Dollar

CAD Canadian Dollar

CHF Swiss Franc

CYP Cyprus Pound

CZK Czech Koruna

DKK Danish Kroner

EUR Euro

GBP Great British Pound

HKD Hong Kong Dollar

HUF Hungarian Forint

INR Indian Rupee

ILS Israeli Shekel

JMD Jamaican Dollar

JPY Japanese Yen

MXN Mexican Peso

NOK Norwegian Kroner

NZD New Zealand Dollar

PKR Pakistan Rupee

PHP Philippine Peso

PLN Polish Zlotych

SAR Saudi Riyal

SEK Swedish Kroner

SGD Singapore Dollar

THB Thai Baht

TRY Turkish (new) Lira

USD United States Dollar

XCD Eastern Caribbean Dollar

ZAR South African Rand

Maserati, your story, which may be true, conflicts with TD Bank's website. IQD's are not available at TD Bank. Can you explain how this manager's bank is buying back IQD?

Yeah, I'm as confused as much as you are. I'll send her an email and repost if necessary.

I don't want to appear as a pumper or lopster.