Union Bank California

[NORTEC]

Talked to a Union Bank of California Global Foreign exchange representative (Today) - This is who I bank with -

I asked about the Iraqi IQD dinar, and if they are preparing for customers to deposit them into their bank.

The response I received wasn't very good - if fact the Rep stated that the IQD was not deemed legit.

She stated that people were getting scammed, and that for the past 5 years, she gets a caller once

a week asking about the Dinar Rv. , and that Union Bank has no plans on getting involved with the dinar.

Does any one know what banks are taking the Dinar serious ?

GBU - NORTEC

[kennyc]

Right now the Dinar is not Internationally traded. Of course the banks are going to give you

the song & dance because they DONT KNOW. Any bank that trades foreign currency, when the dinar goes up in value

you can take yours in & they will HAVE to exchange it.

Gooo RV

[Princess DinarTard]

Talked to a Union Bank of California Global Foreign exchange representative (Today) - This is who I bank with -

I asked about the Iraqi IQD dinar, and if they are preparing for customers to deposit them into their bank.

The response I received wasn't very good - if fact the Rep stated that the IQD was not deemed legit.

She stated that people were getting scammed, and that for the past 5 years, she gets a caller once

a week asking about the Dinar Rv. , and that Union Bank has no plans on getting involved with the dinar.

Does any one know what banks are taking the Dinar serious ?

GBU - NORTEC

First, are you new (around here? to dinar?) ???? Because your last question would make it seem like you are

Second, every bank (Citibank, Chase, BoA, 5/3rd and etc.) take an official stance of not dealing with the dinar. Now in the past, some have allowed clients/members to order dinar through their foreign currency dept. but I believe that by mid 2011 to early 2012, most if not all banks have either completely stopped or weaned that serviced out slowly.

The "guru"s like to say it's because the bank management doesn't want their lowered tiered employees to hold dinar and then quit upon an RV. But that is just hype. And unproven speculation.

Most people get their dinar from a specific dinar dealer now-a-days, usually online or through ebay or another person who is a member of an online forum like themselves.

So, as for now.....there are no banks taking the dinar serious. Most are neither selling or buying it back. You may find some who will exchange for dollars but that policy is branch specific for each bank. Good luck with that if you are trying to do so. It may be easier to just use an online dealer for that.

But maybe one day this thing will pop and RV. That day, you will surely hear a change of tune by all those working at a bank because they'll want your business.

As for now, consider this all a cluster &%@$ of a mess with the banks and don't count on them giving you the straight truth.

[umbertino]

Quote

Does any one know what banks are taking the Dinar serious ?

End Quote

Supposedly ( logic would dictate) the ones which used to ( some still do) sell them... But not necessarily.

[jeepguy]

Quote

Does any one know what banks are taking the Dinar serious ?

End Quote

Supposedly ( logic would dictate) the ones which used to ( some still do) sell them... But not necessarily.

i am affraid that the central bank of iraq deals with the dinar kind of a long way too drive though

[moose 57]

This has been an on-going question. How would we know until the time comes?

[fishing]

"Why don't we wait until this thing RV and then see what bank will take dinars!

[umbertino]

"Why don't we wait until this thing RV and then see what bank will take dinars!

Ok...Alarm set on????????

[phredd]

Darn ...I was hoping for a good stroking..haven't had a good bank story for a while

[Mammaw]

NORTEC, Princess is correct. There are hundreds of post here and on line that address the fact that so many bank employees feel the investment in IQD is a scam. However, if and when you do your homework you will find that it is an investment and has great potential. However, as in any investment, do not invest more than you are comfortable in loosing. The world we live in makes it impossible for anything to be 100% a sure thing.

At the BOA location I most often go to, the employees are also invested in IQD. Now, the bank its self isn't in the business of selling or purchasing a currency that is currently not international. It is considered more of a collectable, like baseball cards. The banks don't deal in "collectables". But if and when the in country currency is released to be traded world wide, then your dinar moves from being a collectable to a true international tradeable currency.

Many find it too hard to believe. And that is ok. Not everyone is open minded enough to even purchase a little, just in the event they are mistaken. Its like having a chance to purchase Google stock before it was known what Google was. Now you can't touch the stock.

Sorry to go on. But the idea is, shake it off, expect it, don't let anyone rain on your parade. And do your homework. There is a lot of great information provided here on DV.

[rulesforrebels]

Right now the Dinar is not Internationally traded. Of course the banks are going to give you

the song & dance because they DONT KNOW. Any bank that trades foreign currency, when the dinar goes up in value

you can take yours in & they will HAVE to exchange it.

Gooo RV

banks are NOT required to take your dinar. most banks are actually trying to get out of the fx business, the few that do it do it as a courtesy for THEIR customers ONLY

i am affraid that the central bank of iraq deals with the dinar kind of a long way too drive though

yeah id prefer not to have to take that trip lol

[pastured]

Last month, I called Capital One Bank (currency exchange)(not a branch) to see if they exchange Iraqi Dinar. They said they do NOW,...you send it in or take it to a branch who sends it in,....takes about 3 days or so,....to verify its legitimate and then you get whatever market rate is available.

All that to say only,...if they'll function NOW as a "facilitator" to exchange Iraqi Dinar,....then it would seem "possible", likely that Capital One Bank would be handling exchanges after the RV/RI. Either the same way, 3 day process... or if it's internationally traded by then,...maybe even at various big branch sites.