Bank Packages

[SWFloridaGuru]

5-27-2012 SWFloridaGuy: The first thing that comes to mind when I hear "bank package," is "unecessary risk." Many of these packages require your full name, address, email, phone number, amount of dinar/dong (net worth post-rv) you hold and reserves. This is EXTREMELY FOOLISH. Not only for you but for the ones providing them, from a liability standpoint. People were doing similar bank packages a couple years ago. Everyone gave out their personal information thinking they would miss out if they didn't. Two years later, the only thing they accomplished is a huge security risk for no reason. There is no new rate, there's nothing to talk about. Bank policies toward the IQD won't even be in place until the currency is tradeable. I have yet to hear a single good reason from a "guru" as to why on earth I should trust someone online I don't know with information I wouldn't even give to my relatives. I find it funny that the same ones who are doing the bank packages, are the ones who complain in chat every day of how people are hacking their emails, phones etc. What a shocker. Maybe that's because they advertise that they have potentially billions of $$ of information stored on their hard drive. Also, these sites are completely unsecure. There is no “S”in the HTTP. Your information could be abused very easily. Providing that personal information gives any hacker a foot in the door. Information is the new gold. Identity theft is the nation's fastest growing crime according to the FBI, and trusting anyone you don't know online is INSANITY! Whether you are cashing out with a bank or a currency exchange, rates will be comparable. If we plan on being successful in the future, we need to start practicing some critical thinking now. Post-rv we will be a very wealthy, powerful and targeted group. I do believe most of the people setting up the packages are only trying to help. I also believe their intentions are completely irrelevant. I only want to see everyone succeed and this is just an opinion. Go RV!!

[bamagirl]

Awesome advice SWF... hope everyone takes heed and proceeds with caution!

[Unitedrich]

Great advise, SWFG,

I hope many heed what you say. Thanks. UR.

[aliciadogz]

Thanks for the post,keep in mine.

Edited May 28, 2012 by mydogz

[R2d2dc]

Thanks for the post SW

[Tripphood]

Maybe I've missed something....I haven't seen or heard anything about this. Can someone please explain?

[Amos9:13]

There are NO such things as bank packages. Sometimes the bank will give you a "tad" bit of a better rate if you are considered a "good" customer which means quite a few

relationships...it doesn't necessarily mean the most cash. It means, several products...like say a checking, savings, loan, safe deposit box, credit card. This customer could possibly

get a little bit better of a rate (maybe 10 basis points) better than someone who only has a checking account. The rate will be the same for everyone....the fees might be a little higher

at different banking institutions...but all of the banks are regulated by the Fed...and they have to get the "rate" from the Fed just the same...there won't be different rates. If you don't believe me,

search the Federal Reserve and see their functions. It was one of the first things I had to learn before going into banking. In college you should of learned this under any of the business classes. Banks

get way too much credit for what they can do...remember banks are HIGHLY regulated...especially in the loan dept. since the bubble burst of the real estate market.

[cashman54]

Is this he is talking about kind of like joining Studley's group? Studley in his latest chat said that "his group" would be ensured to get the highest rate after the RV. He also said that different people will get different rates. Is that why being a VIP with Adam can get us the highest rate?

[Amos9:13]

Oh and by rate I mean an interest product that you would PUT THE US DOLLARS YOU GET EXCHANGED FOR THE DINAR IN. CD's are more than likely what you would place them in. I wouldn't do too much

in CD's....the base rate for most 3 month cd's right now are at .15. I would place some money in a CD and ask for interest checks per month...most are set up to pay quarterly but they can be set up to pay monthly.

You can also set up Diff. cds in different names to get the 250K FDIC protection. You don't have to go to different banks if you don't prefer to...you can set them up as so....John dough...(that's one)....John Dough or Sarah Dough (that's two)....switch primary owners.....Sarah Dough or John Dough (that's 3).....Sarah Dough payable on death to John Dough (that's 4)....You can also place your money into CDARS which is a service that the bank uses to distribute your money to diff. financial institutions but keeps it simple by allowing your bank to deal with you. You get one statement with your bank's logo on it...they can be closed at anytime and can be monitored....very easy...usually you won't

get as good as an interest rate though due to the bank having to pay CDARS a fee for doing this....all investments hold a risk but some are lower than others...REITS are good investments right now...they are paying 6% this is what i will be placing some of my funds in...

Cashman the rate will fluctuate so I can see where different people will get different rates. I don't see how anyone could give a better rate due to being in a group unless he's talking about the bank that the guy adam montana knows

is going to waive the bank fees for you for the exchange. Those aren't typically very expensive...I think I was charged 20 bucks...No one can give you a "better" rate unless adam is talking about the bank giving you a

better rate on a deposit product....now depending on what bank that is...that could be true. Remember that banks need money to fund loans...it can be very expensive for a bank to have to borrow from the Fed to do loan. Sometimes it's cheaper to pay a customer a better interest rate on a deposit product than borrow from the fed.....so that could be what he's referring to. As far as a better exchange rate...no...the IQD will have one exchange rate. If you and me cash in at the same time at different banks...we will get the same amount of cash....we send in the dinar to the fed at that locked in rate entered by the foreign currency department at your bank and they send the money back to your bank which is then "memo posted" to your account via transfer of funds sent via fed

[Benjamin NutnYahoo]

No such thing as a Bank Package.

[Tripphood]

Thanks Amos9:13.