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Bank Story on a positive note


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Well this will be my second bank story that I have started in the past 3 years being apart of the DV family and the first one was with WF Bank and they were telling their standard scam story even though they were selling the dinar but today came to me with a possitive ending. I have spoken with an assistant manager with BBVA Compass a few years ago and they were not having anything to do with the IDQ, today while visiting Compass I was having a casual conversation with the teller about savings plans, IRA's ect. and I asked if the bank had opened a in-house foreign currency office or if the foreign currency was sent to a main office for varification. He said that they could take the currency and send it to the main office and credit the account from their then he became currious as to what currency that I had and I told him that it was the IDQ and had hear rumors that it was possibly a tradable currency but didn't believe it because of no real news and that I believed it to be classified as a exotic currency. He had no real answers for me but he said that he would call the main office to get more information for me and let me know what the banks policies were on the IDQ.

 

Half a day later....

 

Well I just recieved a call from the teller that I was speaking with this morning and he had an exchange rate for me (what????) I asked him you are showing an exchange rate on the IDQ? he said yes. So the IDQ is now tradable? He told me that they as a bank WAS NOT SELLING the IDQ but BUYING BACK the IDQ at a rate of .0006503, know that that this is less than the rate showing on OANDA currency conversion website and the difference will be the bank spread. but the kicker is that they would buy back the IDQ...and with a rate... but for what it is worth I hope that this will bring a little light to this long dark tunnel. good luck to us all....

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Thanks for sharing Goose!  Like you said, at least they are buying, even if they are not selling.  My take on this is, why would a bank buy, but not sell, unless they see potential a little later? 

 

My bet is on the fact that this bank see's green down the road, and that is without the screens going green!

 

Go RV or RI Soon !!!

:bravo:

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Not sure either NWGUY, maybe the US banks do not have the supply on hand to start selling which might cause a rush on the banks for very little profit and they are leaving it up to the currency dealers for the supply side and are waiting to make the real profit on the exchange side when the rate goes up..but a tomorrow RI couldn't come soon enough...GO RV-RI...

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Wow they are only giving you $650.30 usd per million iqd...Not even above or equal to the dealer rate...Thats a rate of 1537.75 iqd, higher than what i paid for it...at 1170 iqd

Edited by Snatcher
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Time to put these Wells Fargo (WF) IQD bank rumors to rest.

 

1.  Go to WF web site and sign in;

2.  Click on Account Services;

3.  Scroll down to "Payments in foreign currency";

4.  Click on "learn about foreign exchange online";

5. Scroll down to "need to order foreign travel currency";

6.  Click on "order online";

7.  Under "Select Currencies" it says "Currency - select one";

8. Click on "select one";

9.  Select Iraq.

10.  You won't find Iraq, because it is not listed;

11.  Also, under "need to order foreign travel currency", click on "learn more";

12.  Then click on "currency converter";

13.  Under "currency converter - select one", select Iraq;

14.  You will not find Iraq because its not there.

 

Iraq is not listed because it is not presently a recognized tradeable currency.  Another BS WF bank post.

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Time to put these Wells Fargo (WF) IQD bank rumors to rest.

 

1.  Go to WF web site and sign in;

2.  Click on Account Services;

3.  Scroll down to "Payments in foreign currency";

4.  Click on "learn about foreign exchange online";

5. Scroll down to "need to order foreign travel currency";

6.  Click on "order online";

7.  Under "Select Currencies" it says "Currency - select one";

8. Click on "select one";

9.  Select Iraq.

10.  You won't find Iraq, because it is not listed;

11.  Also, under "need to order foreign travel currency", click on "learn more";

12.  Then click on "currency converter";

13.  Under "currency converter - select one", select Iraq;

14.  You will not find Iraq because its not there.

 

Iraq is not listed because it is not presently a recognized tradeable currency.  Another BS WF bank post.

 

Reread Goose's Post - He Was Talking About Compass Bank Buying Back IQD And Not Wells ! ;)

 

          B)      B)    B)

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Reread Goose's Post - He Was Talking About Compass Bank Buying Back IQD And Not Wells ! ;)

 

           B)       B)    B)

You beat me to it thug !!!!!  Adlon... you need to read a little better before bashing,  Gooserider has been around long enough to know what to post and what not to .  Thanks for jumping in there thuggie

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interesting story and good to hear a bank is buying in. its not a tradable currency and it doesnt mean anything as far as an rv though. my thought is this. they probably found a dealer willing to buy in a certain amount per month and they will probably buy in and sell to him. The rate you quoted is 1527.75 which is actually a pretty decent spread on something so exotic and thats not even a pegged currency. that comes to $654.87 per million. Much lower than dealers are paying you'd be better off selling to a dealer. None the less its kinda cool a bank is buying in but really doesn't mean anything aside from the fact they realized they had an opportunity to make some money.

 

You have some people that want cash in person or aren't interent saay and dont want to sell to a dealer want to hand over cash for cash in person. htey probably have a dealer lined up that gurnatees they will buy say 20 million a month at 800. bank makes money, dealer gets a better rate

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Well this will be my second bank story that I have started in the past 3 years being apart of the DV family and the first one was with WF Bank and they were telling their standard scam story even though they were selling the dinar but today came to me with a possitive ending. I have spoken with an assistant manager with BBVA Compass a few years ago and they were not having anything to do with the IDQ, today while visiting Compass I was having a casual conversation with the teller about savings plans, IRA's ect. and I asked if the bank had opened a in-house foreign currency office or if the foreign currency was sent to a main office for varification. He said that they could take the currency and send it to the main office and credit the account from their then he became currious as to what currency that I had and I told him that it was the IDQ and had hear rumors that it was possibly a tradable currency but didn't believe it because of no real news and that I believed it to be classified as a exotic currency. He had no real answers for me but he said that he would call the main office to get more information for me and let me know what the banks policies were on the IDQ.

 

Half a day later....

 

Well I just recieved a call from the teller that I was speaking with this morning and he had an exchange rate for me (what????) I asked him you are showing an exchange rate on the IDQ? he said yes. So the IDQ is now tradable? He told me that they as a bank WAS NOT SELLING the IDQ but BUYING BACK the IDQ at a rate of .0006503, know that that this is less than the rate showing on OANDA currency conversion website and the difference will be the bank spread. but the kicker is that they would buy back the IDQ...and with a rate... but for what it is worth I hope that this will bring a little light to this long dark tunnel. good luck to us all....

 

Hmmm. OK, so I can now go buy a million IQD at Dinar Trade for $980..00 and sell it to Compass for $650.30?

Lemme think about that one for awhile......

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