"Wire" receiving Bank's verification

[larry143]

Has anyone called their "receiving" institution to ask them the process/scenario of:

While I'm at the Dinar Trade's location cashing in, post RV, and they have wire transferred the funds and have pressed the "submit" button, my phone call to my bank verifying the funds sent?

I have just gotten off the phone with Citibank, to try and get my ducks in a row, and the bank manager, with 16 years experience told me, the scenario I proposed, just didn't work with reality. Close but not exact. She said the process takes from up to 3 hours and as long as 7 hours for funds to post. She was very helpful don't get me wrong but she said, it's not like what's portayed in the movies.

The first bank I called said they could only "verify" the wire transfer was "pending" but wouldn't know until midnight if funds went into my account. I'm just trying to get things lined out. I may, not be understanding something here, waiting to be set straight. Thanks

[fabell]

This is incorrect... I receive and send wires daily. Once they have been submitted, you should see them in an hour. Ali never said within seconds...he just said you could sit and wait until completed.

[cbs71]

Yeah, well, the times will vary from one institution to another. Wires can take less than hour to several hours. However, banks are able to see "something" coming in but still not enough to verify funds.

[All-In-4-RV]

Yep, your councel was correctly given. A domestic or international wire transfer, whether it be an out going or in coming wire, doesn't happen in an instant. It does take hours or even until the next day, depending upon the time of day your wire is processed.

It's always been like that ... unless something new is being used in retail banking that I may not be 'up on'. Transfers go through a 'clearing house, referred to as an ACH (automatic clearing house) transfer.

Hope this helps. RV Baby !!!!

[mrref]

Has anyone called their "receiving" institution to ask them the process/scenario of:

While I'm at the Dinar Trade's location cashing in, post RV, and they have wire transferred the funds and have pressed the "submit" button, my phone call to my bank verifying the funds sent?

I have just gotten off the phone with Citibank, to try and get my ducks in a row, and the bank manager, with 16 years experience told me, the scenario I proposed, just didn't work with reality. Close but not exact. She said the process takes from up to 3 hours and as long as 7 hours for funds to post. She was very helpful don't get me wrong but she said, it's not like what's portayed in the movies.

The first bank I called said they could only "verify" the wire transfer was "pending" but wouldn't know until midnight if funds went into my account. I'm just trying to get things lined out. I may, not be understanding something here, waiting to be set straight. Thanks

THERE YOU HAVE IT, THE WORDS FROM A CITIBANK BANK MANAGER WITH 16 YEARS OF EXPERIENCE WHAT MORE INFO ARE YOU LOOKING FOR???

[cbs71]

Yep, your councel was correctly given. A domestic or international wire transfer, whether it be an out going or in coming wire, doesn't happen in an instant. It does take hours or even until the next day, depending upon the time of day your wire is processed.

It's always been like that ... unless something new is being used in retail banking that I may not be 'up on'. Transfers go through a 'clearing house, referred to as an ACH (automatic clearing house) transfer.

Hope this helps. RV Baby !!!!

Yep! On the money...great explanation!

THERE YOU HAVE IT, THE WORDS FROM A CITIBANK BANK MANAGER WITH 16 YEARS OF EXPERIENCE WHAT MORE INFO ARE YOU LOOKING FOR???

Good point my friend! Touche'!

[larry143]

MRREF,

Thanks for your response. I'm unclear on your tone? "THERE YOU HAVE IT, THE WORDS FROM A CITIBANK MANAGER WITH 16 YEARS EXPERIENCE WHAT MORE INFO ARE YOU LOOKING FOR???

Seems like a fair question to me. Dinar Trades "thourough" cash in policy indicates a person could just call their bank and verify funds went through. All I was mentioning is, that it might not be that way...that's all. I thought it might be a decent "heads up" right?

[sarasota]

ive wired funds to a relatives account she received it in 30 minutes, and my employer has wired to my account before it took 15 minutes, they said it was almost like sending western union . and that was from bank to bank wires.

[karen]

according to xx ; you hand your dinar to a d trade rep. he puts in a machine to verify and count, hemakes you a receipt and you tale it with your dinar in a sealed bag . you are escorted to another rep. in another room to wait until funds are transfered to your account and you are able to verify and upon that you hand over your dinar the last rep. then escorted out. i plan on talking to only 1 banker(the only one that know personally)before i make an appointment with dinar t. to cash in. i also have the same concerns with the wire transfer time. my banker will be able to assist me . i have only mentioned iqd on one occsiaion. she seemed unaware of this investment, but she did pull up some dinar sites, we talked some about it. she was never negitive about. agreed it was a speculative investment and wished me good luck and she would be there to assist if needed. i said i hoped that i would. if this does not go down to suit me i will go to boa or wellfargo, it could be a quicker way to get funds wired..GO RV!!!!

[ReturnToGod]

MRREF,

Thanks for your response. I'm unclear on your tone? "THERE YOU HAVE IT, THE WORDS FROM A CITIBANK MANAGER WITH 16 YEARS EXPERIENCE WHAT MORE INFO ARE YOU LOOKING FOR???

Seems like a fair question to me. Dinar Trades "thourough" cash in policy indicates a person could just call their bank and verify funds went through. All I was mentioning is, that it might not be that way...that's all. I thought it might be a decent "heads up" right?

I appreciate you asking this question and raising this issue, especially since I read somewhere else in DV today that large deposits are held up until the bank is certain that the funds are not connected to a money laundering operation. In the same post, I also read that it is wise to call you bank manager a few days in advance to inform him/her of the coming transaction. This will add legitimacy to your deposit (why would a money launderer announce his transaction?).

[Loingsign]

I went in and spoke to my rep at my credit union. I asked if there was a max. amount that could be deposited as well as holding the funds. She told me it's checked for fraud from the place it's being wired from and that there should be no problems as long as it's legit. With any wire she told me it could take from 15 min to 3-7 hours even up to next day. It all depends on when it's transfered and how quickly the wire dept. takes to process it.

[bahtman]

As an example, B of A is one of the banks that Ali uses. Make sure you have an account at that Bank.

When you transfer funds from one account to another "within" B of A it happens instantly.

It works this way for personal accounts, a business to a personal, or a business to a business.

Problem solved.

[natjus843]

can anybody verify w/ absolute certainty that B of A will accept dinar and credit your account w/ USD? i know they dont sell dinar...

[ervink]

When a wire is issued - you also get a FED tracking number that follows the wire until it hits your account...just sayin.

[bclarkutah]

I too send and receive wire transfers. The information above is well stated. It should also be noted that most wire transfers received after 3pm where I am located are not entered into the system until the following business day. Your physical location may be a determining factor. We are 2 hours behind eastern time in Utah. Wire transfers may be linked to the major eastern banks. It might be a good idea to check your bank for the latest same day wire transfer.

[LTMC]

wouldnt you want to have cash or gold in exchange for NID?

[SAG]

I talked to my bank manager, not about the dinar just wire transfers. I asked him if someone from the US wired $50,000 USD (as an example) to my account how long before I would see it. His answer is that it's routed through New York (apparently all banks are routed through New York, London and once other place I don’t' remember) and would show up as pending in my account online anywhere from 1 - 4 hrs after the transfer. The next day if it was all OK it would then show up in my account online as available. I have no idea what would happen with something like 20 million USD.

I'm not going to sit at Dinar trade for 4 hrs waiting to see my wired money to show up then possibly find out the next day that something went wrong in the process and I no longer have my dinar. Are we all going to sit in a room with our dinar and receipts while we watch our banking screens?

[Traconesu02]

Thanks for the post larry143

The time it takes to complete a wire transfer has many variables.

It is my understanding Ali will be making all his wire transfers from his chase bank across the street from his main branch in California.

A transfer from a chase bank account to another chase bank account will be the fasted transfer.

From Ali's chase bank account to another bank such as Wells Fargo or Citi will probably take longer.

I am sure the time of day of the transfer will also affect the amount of time it will take to complete the transfer.

Regardless of how long it takes to complete my transfer:

If I use Ali -

I will be getting an early in the day appointment and will stick around his exchange office until I verify the funds are in my account.

Just as a precaution I will then transfer those funds into a second Chase bank account I have just for this occassion.

And will probably have the account that Ali Transfered my money into closed.

p.s.

Verify this with Ali - But I believe all of Ali's money transfers will be coming from his Chase bank in California regardless of which of his exchange offices you use.

This is what he stated in one of his phone conversations he had with us.

[buckeye88us]

Thanks for the post larry143

The time it takes to complete a wire transfer has many variables.

It is my understanding Ali will be making all his wire transfers from his chase bank across the street from his main branch in California.

A transfer from a chase bank account to another chase bank account will be the fasted transfer.

From Ali's chase bank account to another bank such as Wells Fargo or Citi will probably take longer.

I am sure the time of day of the transfer will also affect the amount of time it will take to complete the transfer.

Regardless of how long it takes to complete my transfer:

If I use Ali -

I will be getting an early in the day appointment and will stick around his exchange office until I verify the funds are in my account.

Just as a precaution I will then transfer those funds into a second Chase bank account I have just for this occassion.

And will probably have the account that Ali Transfered my money into closed.

p.s.

Verify this with Ali - But I believe all of Ali's money transfers will be coming from his Chase bank in California regardless of which of his exchange offices you use.

This is what he stated in one of his phone conversations he had with us.

That's a great idea regarding transfering the $ again into a second account and close the other !

[HarleyOnTheRoad]

I talked to my bank manager, not about the dinar just wire transfers. I asked him if someone from the US wired $50,000 USD (as an example) to my account how long before I would see it. His answer is that it's routed through New York (apparently all banks are routed through New York, London and once other place I don’t' remember) and would show up as pending in my account online anywhere from 1 - 4 hrs after the transfer. The next day if it was all OK it would then show up in my account online as available. I have no idea what would happen with something like 20 million USD.

I'm not going to sit at Dinar trade for 4 hrs waiting to see my wired money to show up then possibly find out the next day that something went wrong in the process and I no longer have my dinar. Are we all going to sit in a room with our dinar and receipts while we watch our banking screens?

Wells Fargo told me this past Saturday that any large amount over $100,000 can take up to 24 hours to show up on your account., the interesting part was you have to sign a release of safety if you walk out of bank with $50,000 of more in cash and you have to schedule cash at least 2 days in advance and they would call you when it is ready for pick-up and you can show up anytime between their call and closing. (You have to provide your own safety).

[Tammi :)]

Thanks for the post larry143

The time it takes to complete a wire transfer has many variables.

It is my understanding Ali will be making all his wire transfers from his chase bank across the street from his main branch in California.

A transfer from a chase bank account to another chase bank account will be the fasted transfer.

From Ali's chase bank account to another bank such as Wells Fargo or Citi will probably take longer.

I am sure the time of day of the transfer will also affect the amount of time it will take to complete the transfer.

Regardless of how long it takes to complete my transfer:

If I use Ali -

I will be getting an early in the day appointment and will stick around his exchange office until I verify the funds are in my account.

Just as a precaution I will then transfer those funds into a second Chase bank account I have just for this occassion.

And will probably have the account that Ali Transfered my money into closed.

p.s.

Verify this with Ali - But I believe all of Ali's money transfers will be coming from his Chase bank in California regardless of which of his exchange offices you use.

This is what he stated in one of his phone conversations he had with us.

For those from Canada, Dinar Trade has advised me that Ali has established accounts with The Royal Bank of Canada.

Edited November 9, 2010 by Tammi :)

[Randy Lucas]

Ali has a BoA acct, I have wired money thru to him and maybe he has a Chase Acct and a Wells Fargo and Citi and the Royal Bank of Canada. He then finds out where you bank and then wires money from the same bank as yours from acct to acct. If he needs more money he just has money wired in from the Feds to his bank which the funds are low. I am sure Ali will have the answer. But if he says he can do it then I am sure he can do it!

[larry143]

WOW!!!! Thanks to all the ingenious replies and thoughtful answers. Loved the idea of switching out the original wire. Super idea! Thanks again.

I believe setting up these strategic and logistical accounts for the wire transfers and the second accounts is a very cautious, secure and neccesary plan. Getting our ducks in a row in a hurry will be my next personal order of the day. I am so glad to have this forum as my #1 resource.

[SAG]

[quote name=Tammi ' date='09 November 2010 - 06:27 PM' timestamp='1289345244' post='255320]

For those from Canada, Dinar Trade has advised me that Ali has established accounts with The Royal Bank of Canada.

Canada has a reputation of seizing funds and assuming you are guilty until proven innocent. That's the last place I would want my money. Their CRA is full of holes allowing them to consider this as regular income if they wish. It's the Canadian Way!!!

[penquin]

I talked to my bank manager, not about the dinar just wire transfers. I asked him if someone from the US wired $50,000 USD (as an example) to my account how long before I would see it. His answer is that it's routed through New York (apparently all banks are routed through New York, London and once other place I don’t' remember) and would show up as pending in my account online anywhere from 1 - 4 hrs after the transfer. The next day if it was all OK it would then show up in my account online as available. I have no idea what would happen with something like 20 million USD.

I'm not going to sit at Dinar trade for 4 hrs waiting to see my wired money to show up then possibly find out the next day that something went wrong in the process and I no longer have my dinar. Are we all going to sit in a room with our dinar and receipts while we watch our banking screens?

Personally, I will wait however long it takes to confirm.