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You Can NOW Send Money BETWEEN IRAQ and USA


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Wow, we all knew this was coming.... but wow, talk about in the blink of an eye..They wasted no time between announcement and implementation.... .

 

Check out the bottom right hand corner of this website.... you can send money back and forth between Iraq and the USA !!!!

 

Wot?!?!?! and Wow.

 

http://money.altaif.co/

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This seems to be fairly significant news..... That we can now "exchange" USD for IQD without involving a bank!!! Am I unnecessarily excited about this...  :unsure:  As in, is this not amazingly exciting news in terms of actual movement??

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Haven't really looked at the site and the in and out.... And I would imagine its the same way when you send money to any country.... It gets converted into their currency..... Not sure that you could actually buy currency from say Western Union.... but you can transact between two different currencies... I do money exchanges between Italy and the US.. and they do charge a fee depending upon how much you send.... Sounds like its almost to where you reference... but not quite?

 

Last week we could not do that... and now we can..... I think if nothing else, its at least worth a shout out that Iraq announced something and within a day or two, actually implemented it and made it available to you, me and every individual ... They seem to drag their feet on so many things... and this one was like.... WHAM...BAM .... done....

Edited by Rayzur
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I'm with you Rayzur and also feel this is exciting news.  Not sure exactly what it means but sure seems like something to take notice of.  I actually posted a chat log last week regarding Western Union and new SWIFT codes but it didn't get much attention but I believe it was in preparation for what we are now seeing.

 

Here's the thread....

http://dinarvets.com/forums/index.php?/topic/175958-swift-codes/

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This seems to be fairly significant news..... That we can now "exchange" USD for IQD without involving a bank!!! Am I unnecessarily excited about this...  :unsure:  As in, is this not amazingly exciting news in terms of actual movement??

so exciting that it warrants my first ever post after lurking around for so long! Thank you for the post---looks promising!

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Hi Rayzur... I haven't gone to the site, but the advertisement seems to specify sending money FROM Iraq to the US only, as a typical Western Union service?   It sounds great... but I don't see it as any serious form of exchange, other than sending money.   I like that there is some kind of movement though!!!  Especially since most, if not all, banks have ceased selling/buying dinars...  It seems to me, that something has prompted this new activity, considering the previous "banking" concerns about money laundering and counterfeiting...  Will these "exchanges" be monitored and reported???  Hmmmmmm....

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I would be interested in sending my IQD via Western Union to be deposited into my Iraqi Bank account. Or even open up another Brokerage account to buy securities. Any comments on this strategy? or if it's even possible?

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As I said on the other thread, Western Union isn't typically for transfer into banks. It is generally for quickly transferring person to person. That said, given yesterday's announcements, I would assume that is going to be quickly possible. I don't know about now but shortly, I think.

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I just sent out some inquiries to the Altaif company to see if they my facilitate the transfer of IQD for deposit in Baghdad into either a securities Broker account or Bank account. I hope they respond positively.

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That tells me that they have settled the rate they have now.


The site says you can send money from Iraq to the USA but not send money to Iraq.


True vomer,you cannot send any money to Iraq.i am not 100% sure but I think that is illegal.

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More evidence that their currency will soon be legitimized and tradable. Next stop, forex and bank near you. I say, that once the banks get a whiff of the potential for profit, they will be penning new policies and it will be open season for an RV.

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