Email from my personal Banker! (My 1st bank story)

[fib1618]

Hoosier told us this...

"They stated that Feb would see the begining of an influx of people exchanging dinar."

I've read hundreds of bank stories over the years...

Will this be the one???

29 days and counting.

[DiiDii]

Hi Nelson,

I agree with you, the banking requirements may well be true, however, the thing that caught me was the "two year period" and

the start dates of Feb 2013 and September 2013.

At the very least we can see with our own eyes that much in Iraq is progressing. (Banking, ISX, laws, budget, Exxon, Boeing, etc..)

Thankfully !

[hoosier1470]

Did a little research, and called (let's call him Dave)...so I called Dave last night and wanted to see if he could check a little further into this limiting cash amounts. This part was really the part that bothered me the most! I just got off of the phone with him. He said that everything that he is being told leads him to believe that this is a "corporation condition" whatever that means. I take it to mean that any limit on the amount a person can exchange at one time is determined by the banks, and has nothing to do with government. But, he said that he couldn't really get a definite answer...just that it was "corporation conditions". I asked him to see if he could get a definite on it..said he would see what...if anything further he could find out on this subject, as well as anything else of course. Just thought I'd let anyone interested know..will post later on if I find out anything further! God Bless! Go RI !!

[blueskies]

God bless you, Hoosier, and all the other DVers here. We are going to be able to change the world. Really cool.

[Iownya83]

Thanks for the update Hoosier keep on him LOL!

[MITCH10]

Boy I remember riding in Houston back in the 80's a lot of crazy drivers for sure!

heck... you should drive through there today!!!!

[bamagirl]

Thanks Hoosier... I have never followed such a long thread, I think I may have a touch of ADD or something, lol BUT I have read every post in this one and I do believe this is the best one on DV so far!!

[sxsess]

Boy I remember riding in Houston back in the 80's a lot of crazy drivers for sure!

Still is just a lot more of them!

[staunch]

Staunch...I could have misunderstood but the current administration in their apparent ultimate wisdom intend to force banks to lo loan to sub prime again. Similiar, I believe, to the definition of insanity in doing the same thing over and over with the same results. You have to admire their tenacity though...:-)

Not going to claim to know too much on this, just going with what I have heard on cnn. What I was referring to is for them to start making the banks enforce credit guidelines through a "qualified mortgage" clause that would allow Fannie Mae to hold the individual banks responsible for the loan, and not fall back on Fannie Mae.

[sxsess]

Did a little research, and called (let's call him Dave)...so I called Dave last night and wanted to see if he could check a little further into this limiting cash amounts. This part was really the part that bothered me the most! I just got off of the phone with him. He said that everything that he is being told leads him to believe that this is a "corporation condition" whatever that means. I take it to mean that any limit on the amount a person can exchange at one time is determined by the banks, and has nothing to do with government. But, he said that he couldn't really get a definite answer...just that it was "corporation conditions". I asked him to see if he could get a definite on it..said he would see what...if anything further he could find out on this subject, as well as anything else of course. Just thought I'd let anyone interested know..will post later on if I find out anything further! God Bless! Go RI !!

Hoosier according to Adam Montana, he has set up relationships with major banks for cash in. I see the banks cahing all our dinar in with one stipulation, that the person cashing in opens up an account with that particular bank. I myself will be doing different to protect and keep my money and not get half to the govt.

[TQueezy]

Since only the largest banks typically dabble in [foreign] currency exchange in addition to normal banking (I've checked with a lot of smaller banks in my area, they don't and said they won't ever...), I can totally understand there being limitations on amounts able to be exchanged by individuals. Just imagine, every US speculator will be going to these major corporate-owned banking chains for these type of transactions. Even with large capital, the biggest banks could have issues covering those types of exchanges. Maybe. I'm not too sure on that, but it seems to make sense and somewhat explain what he told you.

[MiuraDude]

Hoosier according to Adam Montana, he has set up relationships with major banks for cash in. I see the banks cahing all our dinar in with one stipulation, that the person cashing in opens up an account with that particular bank. I myself will be doing different to protect and keep my money and not get half to the govt.

I called my local Chase bank this week and asked them if they handle foreign currency exchange (I did not mention dinar at any time), and the lady that I spoke with confirmed that they do. She told me there is a requirement that you either have an existing account with them, or you would have to open one up (either checking or savings). I don't have an account with Chase, but I do have a Chase credit card, but she did say that would not suffice. I asked her why there is this requirement, and she responded (not necessarily verbatim) "In case the country whose currency you are exchanging doesn't pay us, we would then have some level of recourse."

I have no problems admitting that I'm probably looking at this through rose colored glasses, but is there actually a currency out there for which there would be any question on the bank's part relative to the exchange between them and the involved country's central bank or government? Or was she really making reference to the Iraqi dinar without actually making reference to the Iraqi dinar?

This is an exciting time, isn't it?

[BJinMontreal]

I called my local Chase bank this week and asked them if they handle foreign currency exchange (I did not mention dinar at any time), and the lady that I spoke with confirmed that they do. She told me there is a requirement that you either have an existing account with them, or you would have to open one up (either checking or savings). I don't have an account with Chase, but I do have a Chase credit card, but she did say that would not suffice. I asked her why there is this requirement, and she responded (not necessarily verbatim) "In case the country whose currency you are exchanging doesn't pay us, we would then have some level of recourse."

I have no problems admitting that I'm probably looking at this through rose colored glasses, but is there actually a currency out there for which there would be any question on the bank's part relative to the exchange between them and the involved country's central bank or government? Or was she really making reference to the Iraqi dinar without actually making reference to the Iraqi dinar?

This is an exciting time, isn't it?

Just a guess - but perhaps she was refencing the bank covering their ass in case the currency exchanged turns out to be counterfeit.

[MiuraDude]

Just a guess - but perhaps she was refencing the bank covering their ass in case the currency exchanged turns out to be counterfeit.

Perhaps you are right; I didn't think about that. But wouldn't the DeLaRue machine pick that up?

[BJinMontreal]

Perhaps you are right; I didn't think about that. But wouldn't the DeLaRue machine pick that up?

One would think. There is always the possibility that if the bank doesn't have a DeLaRue that take it anyway - I'm not sure what the procedure is because it may vary depending on the size of the bank. I know if I deposit US cash into my US bank account here in Canada, they don't verify it in front of me at the counter, they just put it in their cash drawer with my deposit slip for someone to authenticate later (I assume).

[RVPleaseToday]

"I have no problems admitting that I'm probably looking at this through rose colored glasses, but is there actually a currency out there for which there would be any question on the bank's part relative to the exchange between them and the involved country's central bank or government?"

Considering that the CBI isn't sitting on trillions of USD, I think that would be a legitimate concern for the bank in the case of a large RV.

[MiuraDude]

"I have no problems admitting that I'm probably looking at this through rose colored glasses, but is there actually a currency out there for which there would be any question on the bank's part relative to the exchange between them and the involved country's central bank or government?"

Considering that the CBI isn't sitting on trillions of USD, I think that would be a legitimate concern for the bank in the case of a large RV.

Though I'm not a "numbers cruncher" I couldn't agree more. And that's why I was thinking, besides the IQD, is there another currency that would be subject to this type of policy?

[RVPleaseToday]

MiuraDude, since there has never been a large RV like we expect, who knows. Uncharted water.

Edited January 31, 2013 by RVPleaseToday

[gp49]

Hey dontlop,

Which one of these is greater in value?......

.002 or .0008576

fib after reading some of your posts, I've come to realize that you are rude and a trouble maker .... dontop is well respected here and doesn't need defending but the way you seem to keep challenging him with some kind of childish duel is ridiculous and irritates a bunch of us. If you want to be heard in a respectful manner then you will need to learn to show some respect.

[sxsess]

I called my local Chase bank this week and asked them if they handle foreign currency exchange (I did not mention dinar at any time), and the lady that I spoke with confirmed that they do. She told me there is a requirement that you either have an existing account with them, or you would have to open one up (either checking or savings). I don't have an account with Chase, but I do have a Chase credit card, but she did say that would not suffice. I asked her why there is this requirement, and she responded (not necessarily verbatim) "In case the country whose currency you are exchanging doesn't pay us, we would then have some level of recourse."

I have no problems admitting that I'm probably looking at this through rose colored glasses, but is there actually a currency out there for which there would be any question on the bank's part relative to the exchange between them and the involved country's central bank or government? Or was she really making reference to the Iraqi dinar without actually making reference to the Iraqi dinar?

This is an exciting time, isn't it?

Good question and yes this is exciting!

[MiuraDude]

MiuraDude, since there has never been a large RV like we expect, who knows. Uncharted water.

Yeah, you're right.....definitely uncharted waters. It's those darn rose colored glasses that I'm afraid are causing me to look for answers that do not exist.

[gp49]

Thanks Hoosier... I have never followed such a long thread, I think I may have a touch of ADD or something, lol BUT I have read every post in this one and I do believe this is the best one on DV so far!!

I agree with you bamagirl! This post has been and continues to be fun and exciting.

[Nadita]

Did a little research, and called (let's call him Dave)...so I called Dave last night and wanted to see if he could check a little further into this limiting cash amounts. This part was really the part that bothered me the most! I just got off of the phone with him. He said that everything that he is being told leads him to believe that this is a "corporation condition" whatever that means. I take it to mean that any limit on the amount a person can exchange at one time is determined by the banks, and has nothing to do with government. But, he said that he couldn't really get a definite answer...just that it was "corporation conditions". I asked him to see if he could get a definite on it..said he would see what...if anything further he could find out on this subject, as well as anything else of course. Just thought I'd let anyone interested know..will post later on if I find out anything further! God Bless! Go RI !!

Hoosier,

I believe so.. the cash limit is going to be per bank rules and conditions for each customer.. .just hoping we all have good relationships with our bankers so we can pull the string a bit more when cashing in time comes.

Ron

I just have to asked about the dong... I invested in it you know and of course I want it to go up lol lol

[respectron]

Hoosier,

I believe so.. the cash limit is going to be per bank rules and conditions for each customer.. .just hoping we all have good relationships with our bankers so we can pull the string a bit more when cashing in time comes.

Ron

I just have to asked about the dong... I invested in it you know and of course I want it to go up lol lol

I understand

I have yet to buy dong but when I get back from my trip to Montana on around the 15th, I was going to buy some.., unless an RV accurrs

[one2one]

the least thing i worry about is how to cash out :

there will be stories here all day long---if and when the RV hits