IMPORTANT THOUGHTS ABOUT CASHING IN and Updates‏

[JugDawg1]

WOW! Do you realize that 2% of a million US dollars is $20,000??? And should the RV come out higher, say 3 US dollars for every 1 dinar, that 2% would be $60,000 per million at exchange/cash-in!

Personally, I'd rather pay the flat $150. fee than 1 or 2 or 4% at a local bank!!! But that's just me...

Blessings On YOU AL

Got that right!

[buffalowade1]

WOW! Do you realize that 2% of a million US dollars is $20,000??? And should the RV come out higher, say 3 US dollars for every 1 dinar, that 2% would be $60,000 per million at exchange/cash-in!

Personally, I'd rather pay the flat $150. fee than 1 or 2 or 4% at a local bank!!! But that's just me...

Blessings On YOU AL

Keep dreaming if you think thats all your going to pay. Furthermore the local banks are safer and FDIC insured. I'am not risking my assets seized and tied up in courts with Ali or any other dinar trader. One more thing 2% of 1mill IQD cost me less than $20 USD Who cares if I pay $20,000 or $60,000 on every million I'l still have $940,000 on every millon I cash in minus taxes. I'am not greedy just playing it safe. And if you can save money with the dinar traders hope it all goes well for you. Myself I purchased extra to cover all fees and taxes

[hspotman]

Keep dreaming if you think thats all your going to pay. Furthermore the local banks are safer and FDIC insured. I'am not risking my assets seized and tied up in courts with Ali or any other dinar trader. One more thing 2% of 1mill IQD cost me less than $20 USD Who cares if I pay $20,000 or $60,000 on every million I'l still have $940,000 on every millon I cash in minus taxes. I'am not greedy just playing it safe. And if you can save money with the dinar traders hope it all goes well for you. Myself I purchased extra to cover all fees and taxes

Greed will be the demise of many in the end, IMO. When I first got into this back in January of this year, I was only expecting to make a couple hundred grand........NOW maybe millions?? Greed left my mindset months ago. Whatever fees I have to pay, I will gladly pay.

[Drew Brew]

SO being as i deal with Royal Bank here in Ontario Canada,When the time comes to Cash In,I would get the same $150.00 Fee deal as if i would deal with Ali from Dinar Trade without having to go to U.S because he deals with RBC?

[TXCrackerJack]

I have been watching this site for a few months. I am still very new to the info provided. Could someone please confirm what Ali's website is? Is it www.dinartrade.com? I could not find any info on that site to refer to an Ali. I have an account already with Wells Fargo, and would like to know how to cash in with him when we can. Thanks to all that does the research for those of us who are still learning this.

[Shirc]

Thanks for the tips. I got my BOA account in 2 days with a minimum of 50 bucks online, but I need to research how an intrest based account would be covered by the FDIC. Cdars seems to be a great way to devirsify.

Thanks, I got alot to think about. Reguardless of the dinar reval, this is good information on how to manage your current worth and funds. Thanks!

[sarasota]

Wow!! this makes my eyes hazy all the comments, I'll be going to my bank. just feel safer there. If anything were to get audited with these dealers i dont want to be tyed up into that. banks may take longer to exchange or go nationally reconized. Ive waited this long whats alittle longer. I would guess since these dealers state on there website that there treasury approved or whatever to sell dinars, at that end of this they may me audited and asked to prove it with numbers. again maybe not, i dont want to take that chance. so i'll wait around for chase to accept it.

[jbbdolphins]

Now you guys are scaring me..I don't have the luxury of traveling long distances so I was going to use BOA or Chase. If the banks are taking out the kind of monies you are talking about, and on top of that taxes from which I will seek help) government wow! that will hit me pretty hard. I don't have the funds for the VIP section, so can someone throw something positive my way?

[jbbdolphins]

I just got off the phone with a BOA banker and she told me that there would be no problem opening a BOA account with the dinar...the fees would however be negotiable. I am still scared...

[hspotman]

Now you guys are scaring me..I don't have the luxury of traveling long distances so I was going to use BOA or Chase. If the banks are taking out the kind of monies you are talking about, and on top of that taxes from which I will seek help) government wow! that will hit me pretty hard. I don't have the funds for the VIP section, so can someone throw something positive my way?

I just got off the phone with a BOA banker and she told me that there would be no problem opening a BOA account with the dinar...the fees would however be negotiable. I am still scared...

Guys, I really don't see it being that big of a deal. Whoever on here said that we'd be charged 20%-30% fees, IMO, is greatly mistaken or misunderstood what the banker was telling them. When I talked with my client the other day, who BTW is knowledgeable in finances from being a Broker for many many years, he told me that the 20%-30% fee is most likely for those smaller numbers of exchanges.....like maybe below $100k?, I don't know. But I'm not worried about it. I'll bet we only get charged a maximum of 8% from whatever bank, and I'm sure the rate is negotiable. Just wait till it happens, there's nothing you can do about it regardless. If Ali is "ONLY" charging $150 per million, and there are no OTHER fees like some on here have stated, then the banks aren't going to charge such a high rate. Common sense really.

[peek]

I don't want some $10/hour teller at BOA to see a sudden deposit of $30m in my account - what a great over a beer conversation topic! Mine is going into a private banker account at a large bank.

[SAG]

SO being as i deal with Royal Bank here in Ontario Canada,When the time comes to Cash In,I would get the same $150.00 Fee deal as if i would deal with Ali from Dinar Trade without having to go to U.S because he deals with RBC?

You can do one of two things. 1. Open a US bank account at RBC. Have Ali wire the money into your US dollar account at RBC. Then you can move the amounts into your Canadian account at RBC all or some of it after you talk to RBC into give you a good exchange rate or tell them you will shop around.... :-)

2. Have Ali wire the money right into a Canadian bank account thereby the standard rate would be converted from USD into CDN dollars for you immediately. I would not recommend this as you will not gain as much if you negotiate with RBC after the fact.

Frankly I would take option 1 and then if you don't like RBC exchange rate you can always go to another bank Scotia or HSBC and wire the money from RBC. This is what my sister is doing.

[rundel]

Face it folks... You are all going to be getting the biggest ROI of your lives... whether you cash out at a Bank, with Ali, or part of a VIP group... Count your blessings, keep praying and as long as you are comfortable with your plan.....stick to it!!

God Bless

[buckeye88us]

Face it folks... You are all going to be getting the biggest ROI of your lives... whether you cash out at a Bank, with Ali, or part of a VIP group... Count your blessings, keep praying and as long as you are comfortable with your plan.....stick to it!!

God Bless

Amen Brother!!

[A. Zuccaro]

Great information! Thanks for posting! Ann

[SAG]

I don't want some $10/hour teller at BOA to see a sudden deposit of $30m in my account - what a great over a beer conversation topic! Mine is going into a private banker account at a large bank.

Mine is going into a private banker account at a large bank. - VERY GOOD IDEA.

Go to a larger BOA that has a private banking service and talk to them and open an account with them prior to your cashing in. There are not many around and you might have to travel to do that but it is well worth it.

If you don’t the smaller banks could put a hold on it for suspicious behavior. Especially smaller towns. Have the funds wired to BOA private banking. You can then transfer money as you please from your BOA private bank to your smaller local bank as you need it. These ideas come from my tax lawyer

[SAG]

Face it folks... You are all going to be getting the biggest ROI of your lives... whether you cash out at a Bank, with Ali, or part of a VIP group... Count your blessings, keep praying and as long as you are comfortable with your plan.....stick to it!!

God Bless

]While I appreciate your good faith that all will be ok, there is planning that must be done. I don’t want to scare anyone, these are points my lawyer has brought up with me and I am sharing them with people who don’t have the money to join VIP or hire a tax attorney.

To have a large deposit go into a small bank can raise flags and cause them to hold the funds until suspicious behavior is out ruled. I say this because depending on your branch and who you are your manager may be ok with this. However all BOA transactions go through New York Swift and they could freeze this until it’s investigated. This assumes you cash in using one of the dealers.

Some people don't want the smaller branch employees discussing this over dinner with friends. If people can talk to a larger branch of their bank that provides private banking prior to cashing in, it will provide some discretion. My current branch yells things across the floor to one another. They are loud and not very discrete with banking transactions when I am in there. That is their nature. I can’t change that but I can change how I handle the cash in process. People do not have to join the VIP to get good information. You just need some good up front planning before this RV.

Edited November 13, 2010 by SAG

[hspotman]

Hey SAG,

I'm glad I read your post about the "private banking" option. I figured it was about time I get ALL my ducks in a row, and talk with my BofA. Went down there this morning and asked them about private banking and larger scaled deposits from currency exchange, and told her probably 7 figures. She got all my info, sent Merril Lynch and their private banking section an email saying to call me Monday evening to answer all my concerns-i.e-rates, fee, etc. The lady who helped me told me that the "current" rate for the KWD is 3.62%, because they obviously don't have the IQD in their system yet. I thought the KWD would be a good one to compare by. She also told me that Merril Lynch might have a lower fee rate, not that I'm complaining about $36,200 per million if that what it ends up being. Bottom line- all my ducks are in a row, waiting to enter the water. We just need the flood gates to open now

Thanks again for the "private banking" suggestion/info here.

[cjbiggs]

How do you join Adams VIP Group?

Email Adam

[prosperityclub]

What is the likelihood that any bank would put a hold on our accounts when they see huge amounts suddenly being deposited into our accounts? I plan to open a RBC U.S. account since Ali will be dealing with RBC. Then, I will probably do a few bank wires from there to various accounts with another bank, and reserve a significant amount for taxes.

[krmayo]

This I'm sure has been covered at some point but I don't see it.

When cashing in, would it be beneficial at all to have me cash in half and my wife do the rest? Hopefully there is a simple answer to that question.

Thanks.

[JugDawg1]

This I'm sure has been covered at some point but I don't see it.

When cashing in, would it be beneficial at all to have me cash in half and my wife do the rest? Hopefully there is a simple answer to that question.

Thanks.

YES! If shes anything like my wife, she's gonna get half anyway. Might as well get it out of the way.

Edited November 13, 2010 by JugDawg1

[hspotman]

What is the likelihood that any bank would put a hold on our accounts when they see huge amounts suddenly being deposited into our accounts? I plan to open a RBC U.S. account since Ali will be dealing with RBC. Then, I will probably do a few bank wires from there to various accounts with another bank, and reserve a significant amount for taxes.

talk to them ahead of time, go in Monday. Give them a heads up, I did. I went in to my BofA to ask their procedure for exchanging larges sums of foreign currency to US dollars, and to ask them about a Private Banking account. They were more than happy to help me, and to get me set up ahead of time with the private account. They are calling me Monday evening to follow up with any questions or concerns I may have with anything-i.e: rate,fee, etc. Their exchange fee for the KWD right now is 3.26%, and I would think that the IQD would be comparable. SAG mentioned this private banking suggestion in another post. Look into it, get all your ducks in a row....now just waiting for the flood gates to open.

[prosperityclub]

talk to them ahead of time, go in Monday. Give them a heads up, I did. I went in to my BofA to ask their procedure for exchanging larges sums of foreign currency to US dollars, and to ask them about a Private Banking account. They were more than happy to help me, and to get me set up ahead of time with the private account. They are calling me Monday evening to follow up with any questions or concerns I may have with anything-i.e: rate,fee, etc. Their exchange fee for the KWD right now is 3.26%, and I would think that the IQD would be comparable. SAG mentioned this private banking suggestion in another post. Look into it, get all your ducks in a row....now just waiting for the flood gates to open.

Thank you for your advice, hspotman! I'm going to talk to RBC on Monday about opening a private banking account.

[ecosov]

talk to them ahead of time, go in Monday. Give them a heads up, I did. I went in to my BofA to ask their procedure for exchanging larges sums of foreign currency to US dollars, and to ask them about a Private Banking account. They were more than happy to help me, and to get me set up ahead of time with the private account. They are calling me Monday evening to follow up with any questions or concerns I may have with anything-i.e: rate,fee, etc. Their exchange fee for the KWD right now is 3.26%, and I would think that the IQD would be comparable. SAG mentioned this private banking suggestion in another post. Look into it, get all your ducks in a row....now just waiting for the flood gates to open.

What is construe as "private" account? I'm familiar with a personal, business and commercial account, but never heard of a private account

Edited November 13, 2010 by ecosov