Bank of America says "No exchange fees".....hmmm

[Mick_13]

Nice... Same with Sun trust... But they did'nt say anything about the spread witch I thought was kinda strange...

[Adam Montana]

Do you beleive that the CBI spread will be similar to where the Kuwait Dinar is currently?

No, the CBI can charge anything they want, and they will until they suck some cash back in. The spread will be much higher.

Again, I went over this in my Cash In Guide. It's about 9 pages long, it's free, and any serious investor should read it.

[SAG]

No, the CBI can charge anything they want, and they will until they suck some cash back in. The spread will be much higher.

Again, I went over this in my Cash In Guide. It's about 9 pages long, it's free, and any serious investor should read it.

How does VIP help non US residents who do not bank in the US. Is this just for US banking?

[LEXICON]

Im setting up with HSBC and the women i have been speaking with has taken the liberty of educating herself with the dinar (VERY helpful). There will be no fees and the spread will be 2%

She also said she would keep a constant eye on the rates and what is going on, she has my cell # and will inform me the second she sees positive activity. They just wanna be sure they get my $$$$ hahaha

[SAG]

I have read Adam's cash in guide. There are some very good points he makes in there.

Many people will be rushing out the day it RV's to cash in. A crazed moment I’m sure!!! That is OK.

However for those that can afford to wait 2 or 3 weeks to get a better buy rate from the bank or Ali or Dinarbanker, should try and do so. It will be hard as many people will want the cash right away and many people need it now. Many people will want to quit their job as fast as they can so waiting to cash in for some will be a very difficult task for many.

However I heard something similar from my lawyer (he must know something) because he recommended on waiting 3 weeks to cash in while we setup some things, corps, trusts etc He also mentioned something about the rate going up but now that I think back I believe was talking about the buy rate and not the RV rate. I will wait to get that better buy rate from whomever!!!

Im setting up with HSBC and the women i have been speaking with has taken the liberty of educating herself with the dinar (VERY helpful). There will be no fees and the spread will be 2%

She also said she would keep a constant eye on the rates and what is going on, she has my cell # and will inform me the second she sees positive activity. They just wanna be sure they get my $$$$ hahaha

Lexicon - How does she know what the buy rate will be when it has not been announced by the CBI? She's not able to quote a 2% spread at this time.

Edited November 19, 2010 by SAG

[LEXICON]

I have read Adam's cash in guide. There are some very good points he makes in there.

Many people will be rushing out the day it RV's to cash in. A crazed moment I’m sure!!! That is OK.

However for those that can afford to wait 2 or 3 weeks to get a better buy rate from the bank or Ali or Dinarbanker, should try and do so. It will be hard as many people will want the cash right away and many people need it now. Many people will want to quit their job as fast as they can so waiting to cash in for some will be a very difficult task for many.

However I heard something similar from my lawyer (he must know something) because he recommended on waiting 3 weeks to cash in while we setup some things, corps, trusts etc He also mentioned something about the rate going up but now that I think back I believe was talking about the buy rate and not the RV rate. I will wait to get that better buy rate from whomever!!!

Lexicon - How does she know what the buy rate will be when it has not been announced by the CBI? She's not able to quote a 2% spread at this time.

For that i am unsure, i'm not a bank/economics guy, She consulted with others and it was a definitive 2% We shall all see. As for your rush to the bank, i hope i have an advantage, being from a small city in Canada i believe my dad and i are the only people holding this currency.

[Jac]

Thank you, all! If I have learned nothing else in my seven decades of life I have learned to be

as wise as a serpent and as gentle as a dove. Of course, it will be best to check and recheck every avenue involved in the the actual cash in. For example the spreads as you have suggested and certainy shop the rate everywhere.

My most interesting cash in information came from the airport exchanges. This was an eye opener however airports could not handle huge cash ins but for example a cash in that would not exceed a certain amount the are fast, efficient and do pay the top rate. Also you Vegas people (for information purposes) we do have a Swiss Bank right at McCarren, which was part of my plan until IRS unconstitutionally collected all of thier records of American depositors. I understand that the Swiss are negotiating (or rather) leaning on a bank giant to fix this problem. Imagine the Swiss having to help depositors send their mony to other banks where their privacy could be protected. The Isle of Man certainly took on lots of new depositors as well as other locations worldwide.

It is moot that we must take all of the information sift through it, utilize what is valuable to our own financial plans and then carefully move forward when the moment of cash in takes place.

I do feel the moment of cash in will be upon us quite soon therefore I do agree with all of the gurus say , which is be prepared and act with the sage advice by this amazing thinker..

"Go confidently in the direction of your dreams. Live the life you have imagined."

~ Henry David Thoreau

[wcmboss]

Well, I've spent a good part of my day haggling with BOA across the US and hear is the CRAP I was told. First, I called 704-386-5478 which is the main bank branch of Charlotte, NC and talked with Miss Michaels over the foreign currency dept. I have called this bank on the referral from some in the chat room that they were informed about the dinar. My hope was to get the BOA in my state uptodate. HA.

Miss Michaels tells me that BOA does not deal w/ D, and cannot order them in for purhcase,and of course does not cash them in. I tried to no avail to describe to her the scenario of WHEN it was a recognized currency, blah blah.. no. I even asked to speak to her supervisor, and she told me she was the super. She did finally refer me to the ?head of currency and gave me this number. 800-523-7860 where I talked to Abraham.

Abraham informed me that people have been calling him for over 6 yrs. regarding the D. and no they never have dealt with it, and anything I have read on the forums is wrong and people are just making up stories. BOA is not negotiating terms at this time as they do not handle the currency nor did he project to, b/c as he has told me SEVERAL times, the Iraqi dinar is pure speculation and the notion that millions will be made has been going on for over 6 yrs now, blah ,blah ,blah! no they do not deal...... So I said....I KNOW you do not deal now, but given the scenario that it would just happen to rv on Monday, and become recognized as an intl currency, how long would it take you to be up and running??? Immediately he tells me. Just like if you had canadian money and brought it in, it is on our list so we would immediately take it.

So they may be the only bright note, is that as soon as they get it on "their list" they'll immediately take it. No duh.

So, my attempts to have my plans made are once again thwarted. How can I make my plans as Joe P urges us to do, when the bank still denies acceptance, Adam won't reveal his plan to the VIP until it happens, so I know whether I can drive or have to fly, and we are continually met with either road blocks, smoke and mirrors or just big piles of bull ______.

I have given the names and numbers so no one can dispute my attempts, and if you have had better success, I would truly appreciate you posting names and numbers to my profile. I wanted to stay w/ BOA as I have banked w/ them for 20 yrs. but if they are going to cause me such grief, I am certainly willing to look at other options.

[dlb]

Many people will be rushing out the day it RV's to cash in. A crazed moment I’m sure!!!

Not to mention, I don't have a spare AK-47 lying around to pack with me!

[cjbiggs]

thanks for the post!

[bright]

I have had an account with BOA for the past three years because a person in our group was negotiating with them for a deal in the same fee range as Ali......now I don't know what will eventually happen but at this point it is a mute point because it is not recognized as a tradeable currency.........I have talked to several different banks through the years and have got all kinda answers........it boils down to who your talking to.....some people just want to please a caller and others could care less.......we shall find out when and if this thing RV's...oh I forgot one thing in our group's negotiating with BOA we were required to leave a certain amount of money in a CD but since things have fallen apart I have no clue if that is even true......again I will worry about those issues when I find out it RV'd

[Triple xXx]

Hey DV family, I just wanted to let you know I went and had a 45 min sit down at my BOA regional branch here in Las Vegas, NV earlier today...I spoke with the currency manager, and she informed me that BOA does NOT charge any currency exchange fee to customers with accounts in good standing, they exchange at NO cost as a courteousy to members, she knew of the dinar, but you can tell she wasnt too schooled in the history( big shocker...lol)....She also informed me, which I thought was a little odd, I may want to shop my rate at time of exchange cause Bank Of America rates are usually a little low when it comes to currency exchanging.....I just wanted to share this cause Ive read a lot of posts in the past about banks including BOA who may be carging up to 7 or 8% to exchange....hope this helps God bless all of you for being there through this wild ride, definitely couldnt have made it without you guys!

Are Bank of America's selling Dinar at this time? I did not think that they were?

[Mikki-RN]

I spoke to someone at BOA in Knoxville, TN yesterday. He was totally clueless! Had no idea what their rate would be, how this would be handled and knew nothing of what a De La Rue machine was. When I made the call, I asked to speak to someone who was knowledgable about foreign exchange. The dude I got was no help. So whatever the rumor is about the bank employee in NC, it is not global within BOA.

[Adam Montana]

How does VIP help non US residents who do not bank in the US. Is this just for US banking?

As long as you are on the map, and have banks near you, most countries have partner banks that they route through (just like Warka uses Chase).

If you're in one of those weird places that isn't even on a map, you may have to travel to somewhere that IS on a map.

Im setting up with HSBC and the women i have been speaking with has taken the liberty of educating herself with the dinar (VERY helpful). There will be no fees and the spread will be 2%

She also said she would keep a constant eye on the rates and what is going on, she has my cell # and will inform me the second she sees positive activity. They just wanna be sure they get my $$$$ hahaha

That means the spread will be 2% on top of whatever the CBI has posted... not such a hot deal.

, how long would it take you to be up and running??? Immediately he tells me. Just like if you had canadian money and brought it in, it is on our list so we would immediately take it.

So they may be the only bright note, is that as soon as they get it on "their list" they'll immediately take it. No duh.

So, my attempts to have my plans made are once again thwarted. How can I make my plans as Joe P urges us to do, when the bank still denies acceptance, Adam won't reveal his plan to the VIP until it happens, so I know whether I can drive or have to fly, and we are continually met with either road blocks, smoke and mirrors or just big piles of bull ______.

I have given the names and numbers so no one can dispute my attempts, and if you have had better success, I would truly appreciate you posting names and numbers to my profile. I wanted to stay w/ BOA as I have banked w/ them for 20 yrs. but if they are going to cause me such grief, I am certainly willing to look at other options.

i have several businesses that run a very large amount of cash through them, and I don't plan on being loyal to either of the banks I currently use - if another bank is going to cash me in sooner and give me a better rate, I'm SKIPPING to their closest location!

We don't know which banks will give the best rate until the currency is posted on their lists, and we don't know which banks will give the best VIP rate either until that point - so at this time it's best to just hang tight until we see where the best deal is.

I have had an account with BOA for the past three years because a person in our group was negotiating with them for a deal in the same fee range as Ali......now I don't know what will eventually happen but at this point it is a mute point because it is not recognized as a tradeable currency.........I have talked to several different banks through the years and have got all kinda answers........it boils down to who your talking to.....some people just want to please a caller and others could care less.......we shall find out when and if this thing RV's...oh I forgot one thing in our group's negotiating with BOA we were required to leave a certain amount of money in a CD but since things have fallen apart I have no clue if that is even true......again I will worry about those issues when I find out it RV'd

That's a good strategy, but as a VIP you'll be able to get a better rate than Ali is getting/giving. The numbers will be obvious once the currency is listed and you're able to compare bottom dollar to bottom dollar. I'm looking forward to the day i get to do the happy dance and say "See? See?! I told you so haha!"

[hspotman]

I spoke to someone at BOA in Knoxville, TN yesterday. He was totally clueless! Had no idea what their rate would be, how this would be handled and knew nothing of what a De La Rue machine was. When I made the call, I asked to speak to someone who was knowledgable about foreign exchange. The dude I got was no help. So whatever the rumor is about the bank employee in NC, it is not global within BOA.

That is a definite fact, Mikki, all BofA's are for sure not up to speed on this....especially on the west coast. When I talked to the lady at my BofA about other things having to do with this massive income I will be having, she informed me that they would have to have the Dinar sent to the main BofA office(wherever that is), and I would get credited the amount to my account within 6-10 business days. Hopefully when this thing comes to life, EVERY bank in the country will have the De La Rue...which I'm sure they will.

[MPG350]

I doubt this since I just came back from canada and needed to change some money over to US dollars. I got 6 less dollars than I gave them in US and I just did online search I should have gotten a dollar more so they do take out

there fee.

[hspotman]

I doubt this since I just came back from canada and needed to change some money over to US dollars. I got 6 less dollars than I gave them in US and I just did online search I should have gotten a dollar more so they do take out

there fee.

I don't know what this is in response to here, but my client who is very knowledgeable in finances told me that with smaller foreign exchange amounts vs larger ones, the fees fluctuate. So with...say a $100 exchange, the rate might be 20%-30%, but with a huge exchange like we all will be doing, the rate will drastically drop to around 2%-5% depending on your bank. This is all opinion,mind you, so don't bank on this as fact(no pun intended )