cashing in at Citi bank

[Dinar-Hustle]

Greetings my fellow Dinarnians,

I just recently this morning went into a Citi bank branch to open a checking account and asked the banker opening my new account about the Iraqi Dinar. The banker told me that they were exchanging IQDs for US dollars and that in order for them to give me current USD value , they would have to send them to the federal reserve in New York for it's authenticity . After verfication of the IQDs, they would be converted into USDs and then placed into my checking account. I asked the banker for a fee associated with this transaction- no fee. The banker also stated that Citi bank deals with lots of military veterans coming back from Iraq with dinars.

Now, I did not cash in any dinars today. I figured since I had paid more for my IQDs from Gid and DT, I would be taking a loss right from the jump. a couple hundred dollar loss that is. Like Madonna said "I'm keepin my Baby" - that baby be my paper dinars that is friends!

I then said to my self, since I have a Warka account. why not just do wire transfers fom my Citi bank account to my Warka account and not have to pay the middle man. If you transfer on-line, Citi bank only charges a $30.00 wiring fee. and you can wire the USDs into your IQD account for what the IQDs are valued at the time of the transfer.

I'm in no way trying to pump anything, give RV dates, or endorse Citi bank.......... just giving you some helpful info.....IMO

oh, and here's Citi Bank's phone number since they are listed as a corresponding bank on the Al-Warka bank web-site

1-800-274-6660

Go RV............. and peace be unto you!

[ftruck7]

I belive we will have no way around the spread. Fees can be waived.

[KramerDinar]

I would not foresee any bank charging you a fee other than a wire fee, but the spread you are going to pay regardless. You could shop around after an RV and see if you can get any better spread through different banks but that is about it.

[BBK]

for one to understand the scale of this investment, It is not an overnight RV investment, who ever pumps this into you, is lying!

It plummeted overnight because it was in a warzone, now it will need MANY years after a war to fix a broken country.

Iraq needs years of infrastructure work.

The timeframe to see any return on this investment is atleast 2016-2017. But again, leaders can fall in days? turmoil can happen in days? eg. Egypt? Tunisia?

This is risky investment.

BBK

[average joe]

when you talk too warka bank ask them where my 750,ooo is i deposted with them last year seems some how they couldnt find my money funnys isnt it owell maybe i will go back to iraq and see if ican find it ya sure

[Dinar-Hustle]

when you talk too warka bank ask them where my 750,ooo is i deposted with them last year seems some how they couldnt find my money funnys isnt it owell maybe i will go back to iraq and see if ican find it ya sure

interesting case, I have not given Warka any of my money yet.

I just got the confirmation about my account being opened just last week.

I'm a bit curious about Warka's financial stability and have been doing some research about who's backing their banking products

Maybe Adam could enlighten us?

[JuryPicker]

for one to understand the scale of this investment, It is not an overnight RV investment, who ever pumps this into you, is lying!

It plummeted overnight because it was in a warzone, now it will need MANY years after a war to fix a broken country.

Iraq needs years of infrastructure work.

The timeframe to see any return on this investment is atleast 2016-2017. But again, leaders can fall in days? turmoil can happen in days? eg. Egypt? Tunisia?

This is risky investment.

BBK

My investment has gained 30% in value. I guess your time frame is a little off. You may want to watch the news. Most of the infrastructure they need is flowing through pipelines right now.

[muchodinaro]

for one to understand the scale of this investment, It is not an overnight RV investment, who ever pumps this into you, is lying!

It plummeted overnight because it was in a warzone, now it will need MANY years after a war to fix a broken country.

Iraq needs years of infrastructure work.

The timeframe to see any return on this investment is atleast 2016-2017. But again, leaders can fall in days? turmoil can happen in days? eg. Egypt? Tunisia?

This is risky investment.

BBK

Where's the risk, Newbie? Here's an idea for you, come back in the year 2016!

[mrsonnyr]

What's so RISKY when you compare it to any investment??? With the Dinar, if you're SCARED, no problem....Just sell it back! You've lost almost nothing. I suppose people's 401k programs or mutual funds were much safer??? LOL

[RANDY TEXAS]

Sorry BBK,but you are way off,you are just too green on this,/sure its a risky investment ,thats the chance you take for big rewards,but ,I'll bet your off 5-6 yrs ,even a low rv would be a huge profit-/I'm betting on this year,b4 may,lol,GO RV!!!!

[Ateam]

What is the name of the Citi Bank associate you spoke with? I will ask to speak with them.

[gjames_54]

for one to understand the scale of this investment, It is not an overnight RV investment, who ever pumps this into you, is lying!

It plummeted overnight because it was in a warzone, now it will need MANY years after a war to fix a broken country.

Iraq needs years of infrastructure work.

The timeframe to see any return on this investment is atleast 2016-2017. But again, leaders can fall in days? turmoil can happen in days? eg. Egypt? Tunisia?

This is risky investment.

BBK

So why are you on this site??? and why do you think that you should give any advice on a site like this if this is such risky investment? NEWBIE!!!!

[Aaaanvil]

Citibank does not deal with iqd per there exchange Corp in st Louis mo. Imagine that

[goldglove32]

for one to understand the scale of this investment, It is not an overnight RV investment, who ever pumps this into you, is lying!

It plummeted overnight because it was in a warzone, now it will need MANY years after a war to fix a broken country.

Iraq needs years of infrastructure work.

The timeframe to see any return on this investment is atleast 2016-2017. But again, leaders can fall in days? turmoil can happen in days? eg. Egypt? Tunisia?

This is risky investment.

BBK

Ive had dinars for 5 years and studied this investment real hard. i think anybody that is so negative or naysayers or whatever should be happy with themselves and sell theres if they even have them at all!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!. Go RV!