5/3 Bank in Atlanta

[primalnick]

I went by my local 5/3 branch to inquire about IQD yesterday following all of the bank rumors I have read lately. As I was the only customer there at the time they were more than helpful. 5/3 is still buying and selling Dinar at the current rates. There is about a two week wait for the actual money due to high volume. The tellers indicated there has been overwhelming purchase and question activity concerning IQD. The tellers also informed me that that their knowledge of the investment was all gathered from customers. They did not mention meetings, FOREX info, or extra cash on hand. I know this is not what some may want to hear as we all are hoping for that one golden piece of information, but it is the truth. So don't quit your day jobs just yet.

GO RV! GO DINAR!

Edited February 1, 2011 by primalnick

[Nitrobuzz]

100% correct. I have purchased all of my Dinar from 53 Bank in Atlanta and my experience was identical. The personal bankers are very helpful but lack any specific knowledge about the IQD or the RV. 6 wks ago it only took less than a week to receive my Dinar order and now it's taking over 2wks. Being an account holder, there will be no heavy fees associated with a currency exchange (nothing like the fees at DT or DB). So, Fith Third Bank is the way to go if your near one.

[BruceP]

So Nitrobuzz, instead of a general statement about the fees at 5 3rd bank for exchange, tells us what the fee will be that will be better than DT/DB!

[BigCheese]

This was the same experience I had from Fifth Third. They didn't know too much about the Dinar and were asking quite a few questions. Of course, the bank I went to was very new and I was the only person in there besides the staff. This was also in the Atlanta area.

[thedog]

So Nitrobuzz, instead of a general statement about the fees at 5 3rd bank for exchange, tells us what the fee will be that will be better than DT/DB!

Perhaps just picking up the phone or going to an actual branch might be more beneficial to you. That way your not getting it second hand.

Ow wait I forgot the !!!!!!

[splicer09]

100% correct. I have purchased all of my Dinar from 53 Bank in Atlanta and my experience was identical. The personal bankers are very helpful but lack any specific knowledge about the IQD or the RV. 6 wks ago it only took less than a week to receive my Dinar order and now it's taking over 2wks. Being an account holder, there will be no heavy fees associated with a currency exchange (nothing like the fees at DT or DB). So, Fith Third Bank is the way to go if your near one.

The fees you will pay at DT or DB are minimal compared to the spread you will pay at 5th/3rd. If you own a mil. Dinars you stand to make around 200k more cashing in DT or DB. The bank rate WILL be lower. If you wish to get more bang for your buck 5th/3rd is not the way to go. Personally I think Adam will have the best rate but banks will not compare. Just trying to open other options for you. GO RV....GO DV!!!

[Nitrobuzz]

The fees you will pay at DT or DB are minimal compared to the spread you will pay at 5th/3rd. If you own a mil. Dinars you stand to make around 200k more cashing in DT or DB. The bank rate WILL be lower. If you wish to get more bang for your buck 5th/3rd is not the way to go. Personally I think Adam will have the best rate but banks will not compare. Just trying to open other options for you. GO RV....GO DV!!!

You are obviously not a 53 Bank account holder. The heavy fees only apply to non account holders.

Remember, the banks "want" your business.

[F35VTAIL]

Excuse my newnest but can you cash in Dinar at DT that you did not buy from him?

[sunnie3037]

I got the same respone from 5/3 here in MIchigan. I inquired about prices I know that 100,000 IQD was $111 usd but for the life of me I can't remember what the price was on 250,000 IQD.

[chuckray]

Excuse my newnest but can you cash in Dinar at DT that you did not buy from him?

yes you can--that subject came up a few days ago

[Riley]

Excuse my newnest but can you cash in Dinar at DT that you did not buy from him?

Yes you can - I purchased all of mine while I was in Iraq and spoke to Ali and he said there would be no problems cashing in with him......

[Mr. Mont]

When I asked the 5/3 by me in Toledo Ohio they told me that the exchange rate could be different depending on the RV rate and the amount to be changed. Of course I had asked her if it were to RV what the rate was and that is what i was told. I personally do not think there will be any bank rate that will be better than what Adam or DT is setting up but just my opinion.

[Heavyduty053]

You are obviously not a 53 Bank account holder. The heavy fees only apply to non account holders.

Remember, the banks "want" your business.

I agree, As i understand the 5/3 process in Tenn, there is no heavy fees i that i know of.

[Captjohn]

So Nitrobuzz, instead of a general statement about the fees at 5 3rd bank for exchange, tells us what the fee will be that will be better than DT/DB!

Folks......it's never about the fees....it's about the spread. No way 5/3 will compete with the CBI's "buy rate", which is what DT is offering.

[cgbrown]

If not an account holder will they cash in for a fee and a spread. I read somewhere they would just give you a cashier check and you'd be on your way, is that true.

Edited February 1, 2011 by cgbrown

[bluejay]

Out of all the bank rumors I have read....This is the only one that makes sense....Thanks for sharing...

[Soldier]

Thanks for verifying the information. I guess being ( + ) has nothing to do with it after all. Only education on your investment will get you the information your looking for. Being ( + ) and hoping really hard really has nothing to do with it. Imagine that.

[splicer09]

You are obviously not a 53 Bank account holder. The heavy fees only apply to non account holders.

Remember, the banks "want" your business.

You are incorrect. I am a 5th/3rd customer and they will receive my deposit after cash in. The fees are not what I was suggesting are lower at DT or DB. Its the SPREAD. Maybe you don't under stand what that is but your bank Will have a higher spread not fee than DT,DB or Adam. If the cbi rate is $1.00 then a bank rate might be as low as .80. That .20 is huge. Do the math. Who cares if Dt charges me $150 to cash out the better rate will still give me more than a bank. If you choose to use your bank that's fine, you just chose to make less on your cash in. GO RV....GO DV!!!

[splicer09]

You are incorrect. I am a 5th/3rd customer and they will receive my deposit after cash in. The fees are not what I was suggesting are lower at DT or DB. Its the SPREAD. Maybe you don't under stand what that is but your bank Will have a higher spread not fee than DT,DB or Adam. If the cbi rate is $1.00 then a bank rate might be as low as .80. That .20 is huge. Do the math. Who cares if Dt charges me $150 to cash out the better rate will still give me more than a bank. If you choose to use your bank that's fine, you just chose to make less on your cash in. GO RV....GO DV!!!

Hey Nitro, please don't take things wrong I only wish for people to get the best cash in rate possible and the fact is a bank will offer you less ( because of a higher spread ) than DT Or Adam. If you know the facts you have options, that's all my objective is about. GO RV.....GO DV.

[primalnick]

Banks have fees, that is how they make some of their money. Their spread is also higher, usually. However, as many have said, if you are an account holder the fees are less or non-existent. Also, keep in mind, depending on the amount you are looking to cash in you have the negotiating power, and all these fees and spreads are negotiable. IMO the bank manager at your local does not want several or even one potential millionaire customer from walking out and taking their MONEY to the competition over fees and spreads. I guess it depends on your negotiating skills. I will see who will give me the best deal 5/3 or DT or whomever and then make the best decision for ME.

GO RV! GO DINAR!

[dinardarius]

Hi

I went to wells fargo over a month ago and asked about rates, the gal told me that if I had an account with WF that there would be no fees! Then I called the 800 number and talked with another gal that said they would not charge me a service fee BUT would charge me a spread fee. SO I SAY TO ANYONE THAT ASKS A QUESTION OF THERE BANK BE SURE TO ASK ABOUT BOTH POSIBLE FEES !

Edited February 1, 2011 by dinardarius

[HDWrench]

So Nitrobuzz, instead of a general statement about the fees at 5 3rd bank for exchange, tells us what the fee will be that will be better than DT/DB!

Are You the BruceP I know?

[dinnie]

Even the CBI has a spread. We will not know which is best until they actually post rates. The dealers sound good now...but then where are they going to deposit all these dinars?

[labdog]

Thank you Kindly from Labdog

[Carrello]

Excuse my newnest but can you cash in Dinar at DT that you did not buy from him?

Yes. $150. per million dinar is the charge.

Banks have fees, that is how they make some of their money. Their spread is also higher, usually. However, as many have said, if you are an account holder the fees are less or non-existent. Also, keep in mind, depending on the amount you are looking to cash in you have the negotiating power, and all these fees and spreads are negotiable. IMO the bank manager at your local does not want several or even one potential millionaire customer from walking out and taking their MONEY to the competition over fees and spreads. I guess it depends on your negotiating skills. I will see who will give me the best deal 5/3 or DT or whomever and then make the best decision for ME.

GO RV! GO DINAR!

I would think that if I cashed in the dinars at a bank and deposited a couple of million in dollars into an account, the bank should not be charging me anything. Even if the money sat in the account for 24 hours they would make money. Unless I am wrong, and please let me know if I am.

But I agree, DT is the way to go for cashing in. $150 per million is a great deal.