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Safest ways to cash in???????????

mortypop

By mortypop,
in Dinar Rumors

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mortypop Newbie

mortypop

Posted
Posted (edited)

Ok. I heard somewhere that anytime there is a transaction larger than ten thousand the IRS is all over it. That the IRS has power to freeze assets and accounts if there is suspicion. Is walking into a bank and cashing in the dinar after a RV the safest route? Or if you do this, the IRS will be all over you investigating making life difficult ? Also, I have heard different rumors saying that cashing in at a bank could take weeks for them to verify the authenticity of the notes, is this true? Is there is a faster safer route? Going to Alli at dinar trade seems more risky. Thoughts ( solutions with facts would be more helpful than opinions )?

Edited by mortypop
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tony wilson Newbie

tony wilson

Posted
Posted

Ok. I heard somewhere that anytime there is a transaction larger than ten thousand the IRS is all over it. That the IRS has power to freeze assets and accounts if there is suspicion. Is walking into a bank and cashing in the dinar after a RV the safest route? Or if you do this, the IRS will be all over you investigating making life difficult ? Also, I have heard different rumors saying that cashing in at a bank could take weeks for them to verify the authenticity of the notes, is this true? Is there is a faster safer route? Going to Alli at dinar trade seems more risky. Thoughts ( solutions with facts would be more helpful than opinions )?

from what i understand the irs gets a report on any transaciton $ 5000usd i called the currancy window in the atlanta airport thay have 5 she told me that thay do not exchange IQD but when the CHAP 7 is lifted

thay will exchange IQD but it would be a short time after RV you will have to have id or passport and SS card for 5000 usd and up hope it helps GOD BLESS

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hot2bewe Newbie

hot2bewe

Posted
Posted

CTR - Currency Transaction Report is done for cash transactions larger than 10k at banks. Now if you have a bunch of 25k iraqi notes there is no way to avoid this, but if you have 5k and lower denoms you can avoid the report with some careful planning.

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Maynard57 Newbie

Maynard57

Posted
Posted

Ok. I heard somewhere that anytime there is a transaction larger than ten thousand the IRS is all over it. That the IRS has power to freeze assets and accounts if there is suspicion. Is walking into a bank and cashing in the dinar after a RV the safest route? Or if you do this, the IRS will be all over you investigating making life difficult ? Also, I have heard different rumors saying that cashing in at a bank could take weeks for them to verify the authenticity of the notes, is this true? Is there is a faster safer route? Going to Alli at dinar trade seems more risky. Thoughts ( solutions with facts would be more helpful than opinions )?

Mortypop:

There is some kind of statutory or regulatory litmus test on the size of lump deposits in American banks, at least is what I believe to be the case. And it would probably make sense that that be the case.

I spoke with a banker I just met, and while he MIGHT have been a little green, he did tell me something that made some pretty good horse sense. When you exchange dinar for USD, if you wire transfer, like, say, from a well known Dinar trader, ie D.Trade, Inc., they have a verifiable trail to where the dough came from and they're pretty cool with it. Conversely, should you show up at US Bank with a brown paper bag that you received under a park bench at 3rd Street and WTF Boulevard, unmarked bills of unknown origin, the powers that be are gonna want to know who, how and where the bodies are buried.

You have to pay taxes, according to the ultimate interpretation by TPTB of your tax liability. And you have to help going up the chain if it is blood money and the like. I think if you view this in the context of the kinds of activity that society might prudently be trying to dissuade, that would be a good starting point for you to determine the best way for you to liquidate and enjoy life.

Maynard

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hfdmedic Newbie

hfdmedic

Posted
Posted

Ok. I heard somewhere that anytime there is a transaction larger than ten thousand the IRS is all over it. That the IRS has power to freeze assets and accounts if there is suspicion. Is walking into a bank and cashing in the dinar after a RV the safest route? Or if you do this, the IRS will be all over you investigating making life difficult ? Also, I have heard different rumors saying that cashing in at a bank could take weeks for them to verify the authenticity of the notes, is this true? Is there is a faster safer route? Going to Alli at dinar trade seems more risky. Thoughts ( solutions with facts would be more helpful than opinions )?

Not sure about the IRS, but as far as it taking weeks this is what I was told. I posted it somewhere else, but here is a copy.

I personally talked with my Compass Bank branch and was told that Compass was expecting an RV, no, no date was discussed, but they were expecting to be swamped the first few hours after it was announced. He told me their exchange rate would be figured one of two ways. A) They would set a rate anywhere from 1 to 5 cents below the exchange rate or since there would be such a large amount of trading initialy, that the SEC may set the rate for them. Either way I would have to take my Dinar to the branch and they would write down each bill's: denomination, serial number and date. They would then overnight the bills to Texas (location of their De La Rue machine). Once the bills were shown to be valid my accouont would be credited.

My problem is if they use "A" that would mean from 10,000 to 50,000 per million! I will have to call after the RV to get Ali's price. A long drive would be worth the money!

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puppylove Newbie

puppylove

Posted
Posted

Ali may be the way to go. You will need to make an appointment but, from what I understand, he will wire the money to your account immediately. He also said he will beat the rate the banks will be asking. But he also said to check around to be sure.

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67elcamino Newbie

67elcamino

Posted
Posted

CTR - Currency Transaction Report is done for cash transactions larger than 10k at banks. Now if you have a bunch of 25k iraqi notes there is no way to avoid this, but if you have 5k and lower denoms you can avoid the report with some careful planning.

I know from personal experiance that a 10,000 cash transaction will be reported but they also monitor frequency of other cash transactions as well. If you have a lot of say 2,500 dollar cash transactions in a short period it will still throw up a flag! And you will be asked to show some documentation af proof of the nature of the money. On the same note if you have a lot of large cash deposits normally they won't look at you as hard because it is normal for you.

It is the change from your normal account activity that draws the attention.

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dwhite1971 Newbie

dwhite1971

Posted
Posted

I was thinking about taking a vacation to the Cayman Islands :)

..but seriously. Several of us from work have discussed getting together and going to Chase or Compass in Houston and trying to negotiate the fees and rate the day of. As far as taxes, "Give onto Caesar what is Caesars".

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Jac Newbie

Jac

Posted
Posted

Mortypop:

There is some kind of statutory or regulatory litmus test on the size of lump deposits in American banks, at least is what I believe to be the case. And it would probably make sense that that be the case.

I spoke with a banker I just met, and while he MIGHT have been a little green, he did tell me something that made some pretty good horse sense. When you exchange dinar for USD, if you wire transfer, like, say, from a well known Dinar trader, ie D.Trade, Inc., they have a verifiable trail to where the dough came from and they're pretty cool with it. Conversely, should you show up at US Bank with a brown paper bag that you received under a park bench at 3rd Street and WTF Boulevard, unmarked bills of unknown origin, the powers that be are gonna want to know who, how and where the bodies are buried.

You have to pay taxes, according to the ultimate interpretation by TPTB of your tax liability. And you have to help going up the chain if it is blood money and the like. I think if you view this in the context of the kinds of activity that society might prudently be trying to dissuade, that would be a good starting point for you to determine the best way for you to liquidate and enjoy life.

Maynard

Plus Dinar Trade (Ali's) $150.00 per Million iQD is far less then the banks will charge.

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the_new_iraq Newbie

the_new_iraq

Posted
Posted

Ali may be the way to go. You will need to make an appointment but, from what I understand, he will wire the money to your account immediately. He also said he will beat the rate the banks will be asking. But he also said to check around to be sure.

I also think he will be charging you a exchange rate as well. So it's not just the fee for cashing in...it's the rate of exchange. Maybe he will compete with the banks on that as well?

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rjboots1 Newbie

rjboots1

Posted
Posted

I would expect that there will be so many of these transactions all over the country that the IRS, even though they're a little slow, will figure out why so many large cash transactions, and it won't really cause any red flags. That doesn't mean they won't check into a percentage of them, but it should not be a big deal.

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Sambeboni Newbie

Sambeboni

Posted
Posted

Could someone please post how to get in touch with Ali and location of his banks in the US.

I went back 18 pages could fine the info. Thanks.

go to dinartrade.com - I sent him an email last week and got this reponse

DINAR TRADE CASH-IN PROCEDURES:

When you are ready to cash in your dinars with Dinar Trade:

Call 1-877-770-7660 or 661-472-8510 to make an appointment. Let us know which office you would like to go to in order to make the trade. At the time of the appointment inform us of the number of people in your group and the total amount of dinars you will be cashing in.

You will need the following:

- Two (2) Forms of ID (one with a picture and one with your name on it for example credit card or utility bill)

- Fincen 104 Form ( http://www.fincen.gov/forms/files/fin104_ctr.pdf ) if you don’t have one we have it at our offices .

- Bank Incoming Wire Instructions (ABA Routing number and Account number)

We will wire the funds form our bank account here in the U.S. to your bank while you wait at the time of exchange. Dinar Trade will charge $150 per million dinars as a service fee for cashing the dinars. If you have less than a million dinars, we will pro-rate the fee.

As for the exchange rate, it will depend on the rate in Iraq at that time. We will let you know the rate on the phone but it will not be confirmed until you show up at our office at the time of exchange. We encourage everyone to check all the banks who will be exchanging dinars and their rates before calling us. We are pretty sure we will beat their rates.

Currently Dinar Trade has 3 offices open:

- Brentwood, Tennessee

- Bakersfield, California

- Santa Monica California

Once the RV occurs we will have the following locations open within 7 days. As we open the other locations, we will post the addresses on our website www.dinartrade.com “Contact Us” page.

Cash-in Office Locations that will be open (post-announcement):

- Salt Lake City, UT (another site Operated Exchange Site)

– Manhattan, NY

- Spring hill, FL

- FT Smith, AR

- Waxahachie, TX

- Albuquerque, NM

- Grand Forks ND

- Las Vegas NV

- Toledo OH

We will not disclose the address to the above locations until we are open.

If you would like to exchange before a location is open near you (could take up to 7 days to open post-announcement), you will have to come to our currently open offices in either TN or CA. We will be able to make appointments for all locations as soon as the RV occurs. We estimate that you will not have to wait more than 3 days when you make the appointment. We will accommodate on a first-come, first-serve basis. The above does not constitute that we know when the RV is going to happen. We are informing every one of the procedures for when/if it occurs.

Sambeboni

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GrahamB Newbie

GrahamB

Posted
Posted

go to dinartrade.com - I sent him an email last week and got this reponse

DINAR TRADE CASH-IN PROCEDURES:

When you are ready to cash in your dinars with Dinar Trade:

Call 1-877-770-7660 or 661-472-8510 to make an appointment. Let us know which office you would like to go to in order to make the trade. At the time of the appointment inform us of the number of people in your group and the total amount of dinars you will be cashing in.

You will need the following:

....

If you would like to exchange before a location is open near you (could take up to 7 days to open post-announcement), you will have to come to our currently open offices in either TN or CA. We will be able to make appointments for all locations as soon as the RV occurs. We estimate that you will not have to wait more than 3 days when you make the appointment. We will accommodate on a first-come, first-serve basis. The above does not constitute that we know when the RV is going to happen. We are informing every one of the procedures for when/if it occurs.

Sambeboni

Thank you Sambeboni, that was an extremely helpful post!

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FL.KEYS Newbie

FL.KEYS

Posted
Posted

Ok. I heard somewhere that anytime there is a transaction larger than ten thousand the IRS is all over it. That the IRS has power to freeze assets and accounts if there is suspicion. Is walking into a bank and cashing in the dinar after a RV the safest route? Or if you do this, the IRS will be all over you investigating making life difficult ? Also, I have heard different rumors saying that cashing in at a bank could take weeks for them to verify the authenticity of the notes, is this true? Is there is a faster safer route? Going to Alli at dinar trade seems more risky. Thoughts ( solutions with facts would be more helpful than opinions )?

Ok,,, What about going thriugh your Warka Bank account to cash in... They have 10.K daily limit from your Dinar acct. to your $$ acct. I believe...

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camerascott Newbie

camerascott

Posted
Posted

I do believe that there is going to be an RV and most of us will make a lot of dough. But in reguard to saying that everyone in Iraq has a cell phone, I am hear to say that is not true! I was in Iraq for 2 full years (2 tours) and I never once had a cell phone. Nor did most soldiers from my company. All we had was the AT&T phone cards and a satelite phone provided by my command.

Read more:

im sorry but i have got to say it...i was there for all of 2005 and i had a cell phone and so did many others. we had vendors on base selling them

as far as cashing in i would go with ali from dinar. no suspicion and makes it easier for everybody unless you want to fly down to iraq and get it done there. good luck with that lol..

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rrupple Newbie

rrupple

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Posted

I do believe that there is going to be an RV and most of us will make a lot of dough. But in reguard to saying that everyone in Iraq has a cell phone, I am hear to say that is not true! I was in Iraq for 2 full years (2 tours) and I never once had a cell phone. Nor did most soldiers from my company. All we had was the AT&T phone cards and a satelite phone provided by my command.

Read more:

im sorry but i have got to say it...i was there for all of 2005 and i had a cell phone and so did many others. we had vendors on base selling them

as far as cashing in i would go with ali from dinar. no suspicion and makes it easier for everybody unless you want to fly down to iraq and get it done there. good luck with that lol..

Yeah i was there too! But not everyone can afford 2 dollars a min...

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visitor Newbie

visitor

Posted
Posted

Message - I would like to know any fees assosiated with cashing in dinar after it is revalued. I understand there is 150.00 charge per million. But is there also a spread like with some banks? example: RV at .86 buy back at .81. Thank You

- Submit - Submit

Our spread will be the same as the CBI spread.

Thanks

Ali

Dinar Trade Inc

www.dinartrade.com

Tel:877 770 7660

Our spread will be the same as the CBI spread.

Thanks

Ali

Dinar Trade Inc

www.dinartrade.com

Tel:877 770 7660

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