HSBC and Dinar

[BBalls]

HSBC is clueless about the dinar...After being on the phone over an hour with a rep, putting me on hold numerous times, I finally got the "we don't deal with that currency" answer...The only foreign currency they deal with and carry "on hand" is Canadian and that would be the only one they could cash in....If I'm not mistaken HSBC jointly owns a few banks in Iraq...All my accounts are with them as well as my mortgage, so now I would have to open an account that would buy my dinar..What a hassle and an inconvencience...If anyone planned on cashing there forget it... Heads up!!

[hammer911]

Yes, I believe I seen that they were in Iraq also.. Strange!!GO RV!!~~~

[GMsales]

until this is a viable currency and Globaly recognized, NO banks even talk about it. Just wait till it hits the forex ... They Will change their tune.

Sorry if spellings off (Crown)

[prosperityclub]

HSBC is clueless about the dinar...After being on the phone over an hour with a rep, putting me on hold numerous times, I finally got the "we don't deal with that currency" answer...The only foreign currency they deal with and carry "on hand" is Canadian and that would be the only one they could cash in....If I'm not mistaken HSBC jointly owns a few banks in Iraq...All my accounts are with them as well as my mortgage, so now I would have to open an account that would buy my dinar..What a hassle and an inconvencience...If anyone planned on cashing there forget it... Heads up!!

I had the same experience as you when I checked out ALL the banks in my area. No one knows what I'm talking about, but don't worry, one day they all will!

[BBalls]

until this is a viable currency and Globaly recognized, NO banks even talk about it. Just wait till it hits the forex ... They Will change their tune.

Sorry if spellings off (Crown)

My point is you can buy dinar at smaller US based banks such as 5/3...boa...chase and probably a few more..HSBC being an international banking institution I'm suprised they don't deal with it regardless it's not a globally recognized currency.

[paj1985]

i have the same problem here i bank at hsbc and bought my dinar from halifax/bof scottland because they dont deal in it so im gonna open an account with halifax,just in case. I think after an rv though it will be on hsbc aswell.and i have also heard of hsbc buying banks in iraq,not sure how true though.

[BBalls]

The funniest part of the conversation I forgot to mention was if I have foreign currency to cash in (Canadian),I would need to mail it to a 3rd party company called Travelex located in Louisville, KY that HSBC uses...They don't even cash it "in branch"

[blanc]

HSBC is clueless about the dinar...After being on the phone over an hour with a rep, putting me on hold numerous times, I finally got the "we don't deal with that currency" answer...The only foreign currency they deal with and carry "on hand" is Canadian and that would be the only one they could cash in....If I'm not mistaken HSBC jointly owns a few banks in Iraq...All my accounts are with them as well as my mortgage, so now I would have to open an account that would buy my dinar..What a hassle and an inconvencience...If anyone planned on cashing there forget it... Heads up!!

Hey BB,

Scooter had mentioned that he would look into the same thing but until it RV's you will probably hit road blocks until it is a recognized currency. I have had the same reaction to banks in La.

God Bless

Blanc

[estephan]

Key word I heard "branch" alot of bank branches don't deal in fx period , Regional offices do , so if one was talking to HSBC" branch" no one there would know.

[METEMARLO]

think about this for a minute if the bank employee had a clue and it revalues hundreds of employees will get up and walk out .the bank is basically shut down then they have to do emerency training what a nightmare so dont sweat employes for the banks not knowing that is a life or death situation for them.you can bet when this goes down all the banks will be in the game

Edited December 2, 2010 by METEMARLO

[DoD]

BBalls, HSBC owns 80% of Dar Al Salam Bank in Iraq. They are doing so well their changing the signs to read HSBC from Dar Al Salam.

I own a lot of that bank stock through the ISX.