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Wells Fargo won't touch the Dinar

logic2301

By logic2301,
in Dinar Rumors

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logic2301 Newbie

logic2301

Posted
Posted

Just got off the phone with a currency exchange banker with Wells Fargo bank. I was told by the banker that Wells Fargo will not sell or buy the Dinar. She went as far to say that Iraq is a closed country so no Dinar is suppose to come in or out. She also said that there is a pool of fake dinar going around as well. I asked her if the dinar RV then will they take it. She said MAYBE, the word has to come from the federal gov before they would take it. She was really interest as to how I got mine for some odd reason. Hope this helps.

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Yabadabado Newbie

Yabadabado

Posted
Posted

I have been into the Wells Fargo branches and they are clueless as expected... it is true they do not have a reason to consider the Iraqi Dinar as they are not openly traded in most banks... those few that are out there are of course an exception to the rule. As Adam and others have stated... "Once the RV occurs everyone will want into the game." I truly believe that we are on the cusp of and RV announcement... I feel it in my bones... cha-cha-cha-.... go RV.

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Ninjaturbo02 Newbie

Ninjaturbo02

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Just got off the phone with a currency exchange banker with Wells Fargo bank. I was told by the banker that Wells Fargo will not sell or buy the Dinar. She went as far to say that Iraq is a closed country so no Dinar is suppose to come in or out. She also said that there is a pool of fake dinar going around as well. I asked her if the dinar RV then will they take it. She said MAYBE, the word has to come from the federal gov before they would take it. She was really interest as to how I got mine for some odd reason. Hope this helps.

HAHA dude... THEY WONT TOUCH THE DINAR untill it RV's...... Once that happens you bet every bank is gonna wanna touch you and your dinar. :)

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Captjohn Newbie

Captjohn

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This is comical. She obviously is not educated on the dinar or it's history. Of course, Wells Fargo will buy and sell dinar after RV. They, like all other mainstream banks will not let an opportunity pass to suck dollars out of dinar investors. Wells Fargo sold me Viet Dong so they know all about "closed" countries. Sounds to me like they are either ignorant of foreign markets or pure banking opportunists.....I tend towards the latter. Time will tell. GO RV.

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Vintage Newbie

Vintage

Posted
Posted

I have a Wells Fargo account and twice over the last 6 months have talked to their customer service foreign currency people via their customer service 800 number and the first was not encouraging at all as she felt that the IQD would not become tradable for a long time if ever so nothing she needed to worry about, some months later when I called the second time, the girl was very upbeat and said at this time no they would not handle it but when/if it did become a recognized tradable currency I could exchange it for a flat $15 fee and a spread to be determined at the time, however there would be a hold on the money for at least 24 hours due to the fact they would have to send it out to be verified at most branches....but then I think they hold a lot of deposits for 24 hours so that is not that unusual. I just figure when it RV's they like every other bank will be begging for the opportunity to have that money in their bank :)

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cbs71 Newbie

cbs71

Posted
Posted

When the dinar hits the forex you can bet Wells Fargo will be on board.Right now most bank branches don't have a clue about the Iraqi dinar.

Semper Fi !!!

Exactly!! folks have to realize that not every branch is "in the know". Some are and some not. Understandable, since the Iraq currency is not recognized. You can't expect a WF branch in littletown, USA to know what the heck is going on. Secondly, not every branch has a "foreign currency dept" like other big branches. But like Tileman said, once this RV's and Chap 7 is lifted, every bank on the planet is gonna want your business.

However, I still believe that none of them will be able to touch the rate that Ali and Ty is going to offer. There may be a few in between, but for the most part, don't count on it.

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Don Paul Newbie

Don Paul

Posted
Posted (edited)

It seems like no one on this site can take advice.

DO NOT WASTE YOUR TIME OR THE BANKERS ABOUT DINARS (not even considered an EXOTIC currency at this time)

What part dont you people understand? Its not a traded currency on the banking world, so its like talking about Ameros or Monopoly money to them.

or are you just stuck in the COULDA WOULDA SHOULDA syndrome??

Edited by Don Paul
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retminded Newbie

retminded

Posted
Posted

Thanks for the post

Sounds as if you need to change Reps at your bank, or just change locations.

I have had a WELLS FARGO account for quite some time and speak weekly to a foriegn exchange manager about the IQD.

I would say that the rep you spoke with just wanted to get away from the subject due to lack of knowledge; sad for you, the investor...

ret

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Traconesu02 Newbie

Traconesu02

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Posted

Once this RV's all four of the major banks will exchange iraqi dinar.

It does not matter what they say at this point - and quite frankly for the most part you are going to get the same answer.

We do not deal with the iraqi dinar...

Chase - BOA - Wells and Citi will all take your dinar once the currency is tradable.

I certainly would not trust my money with any bank that did not exchange once it is a tradable currency.

I can not believe people are still calling their banks about this ???

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Bull Dog Newbie

Bull Dog

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Posted

I have been with Wells Fargo bank for some time now with my Nevada Corp Accounts. I spoke with the Branch Manager, not a teller and she informed me that she knew about Dinar. If I had which I do accounts established at Wells Fargo, there would be no charges to convert the currency. Yes there will a spread but she did not know about that yet. I told her the amount and was told that they will have ways to verify the Dinar. If it does look suspicious, they will send it out to be verified. She knew about all the markings on the bills and also sounded like she knew what was coming down. One thing I have learned with these banks is that you can ask to many questions and they will turn you off. They get out of their comfort zone so to speak. Speak in generalities and you might get better results. Let them tell what they know, don't prod them. This is all IMO of course but I have spoken with the bank on several occasions but always in person.

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TimS Newbie

TimS

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Posted

Once this RV's all four of the major banks will exchange iraqi dinar.

It does not matter what they say at this point - and quite frankly for the most part you are going to get the same answer.

We do not deal with the iraqi dinar...

Chase - BOA - Wells and Citi will all take your dinar once the currency is tradable.

I certainly would not trust my money with any bank that did not exchange once it is a tradable currency.

I can not believe people are still calling their banks about this ???

This is exactly why Adam won't release the bank info he's worked out deals with before the RV......everybody would start calling them. A lot of people just don't get it......until the currency is traded on the forex, it does not exist as far sa US banks are concerned. I guarranty that the major bank players in this country have had many high level meetings in preparation of a "possible" RV...BUT they are not going to waste time passing down info to all thier branches that is incomplete, has too many details not determined yet and might or might not happen soon or later.

Just because some banks will sell dinar to speculators does not mean they are sure it will RV, now or later.......they are just taking advantage of the current market. And be assured, it is a very small(less than 1% of Americans own dinar) market, which is why a lot of big banks won't even sell it.....there is not enough profit in it for them. Once it trades on the forex, that will change immediately.

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Traconesu02 Newbie

Traconesu02

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This is exactly why Adam won't release the bank info he's worked out deals with before the RV......everybody would start calling them. A lot of people just don't get it......until the currency is traded on the forex, it does not exist as far sa US banks are concerned. I guarranty that the major bank players in this country have had many high level meetings in preparation of a "possible" RV...BUT they are not going to waste time passing down info to all thier branches that is incomplete, has too many details not determined yet and might or might not happen soon or later.

Just because some banks will sell dinar to speculators does not mean they are sure it will RV, now or later.......they are just taking advantage of the current market. And be assured, it is a very small(less than 1% of Americans own dinar) market, which is why a lot of big banks won't even sell it.....there is not enough profit in it for them. Once it trades on the forex, that will change immediately.

It is certainly good to know there are other people on this site that know better than to make these silly phone calls to their banks. It is no wonder they get some of the answers that they get.

I have heard at time some of these banker people really tell these idiots off, that call them about the iraqi dinar. I can not blame them for saying what they do to them.

Anyone that calls their bank and ask them if they will exchange a currency, that is not even worth 1/10th of a penny, has got to have a screw loose.

Sorry! That is just the way I feel. And the bottom line is why would any bank want to purchase a currency that is valued at less than a tenth of a penny.

Again ! Once it RV's and it has some value - all larger banks will be excited to exchange for you.

Thanks for the reply TimS

GoRV.gif

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tileman1814 Newbie

tileman1814

Posted
Posted

Why are we talking to banks about a currency with a value of .0008 cents on the dollar? Why are we impacted by their limited education or interest in such a currency? Chill dude.

It's called planning.Granted they don't have a clue at this point but if you use another currency as an example you can find out what they require to cash in.

Semper Fi !!!

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TimS Newbie

TimS

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Posted

It's called planning.Granted they don't have a clue at this point but if you use another currency as an example you can find out what they require to cash in.

Semper Fi !!!

You would be much better off tracking the forex spread, then comparing it to your banks exchange rate to see if their rate is competitive.......however, all banks don't deal in all currencies....even if they do trade on the forex. So.....you can only plan so much ahead of time, but until thisthing RV's, we won't know for sure what banks will deal with it, or what their spread will be, ect.......we can get ballpark numbers only

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