My visit to Bank of America/ Wells Fargo

[USHistoryteacher]

I am a new member as of today. I got on because I wanted to tell you what B of A told me today. After dealing with the merchant account teller for a while I was directed to the Asst. Branch Manager. After a 5 minute conversation he decided to get his Memo from Feb. 1 because I told him I was going to tell some people and that I wanted accurate information. His memo from Feb. 1 was in his hands and he read this, "Bank of America HAS NO PLANS to buy or sell Iraqi Dinar Banknotes". Later in the memo it said, "WE REINTERATE...B of A has no plans to buy or sell Iraqi Dinar Banknotes. I then called our Federal Credit Union and the teller called Southwest Corp (they do currency exchange for them). She called me back and said Southwest Bank Corp. says that Iraqi law states that Dinar cannot be exchanged outside the country of Iraq. I quoted exec. order #13303 and General order 39 and all that. Finally, I called Wells Fargo and was told as of right now they are neither buying or selling Iraqi Dinar. So, I guess I have two questions. What does this mean? And, two...how and why is it that so many contrary things have been stated that directly oppose what I was told today. Would somebody like to enlighten us?

[Darin]

I think it depends on the branch.

Some branches may not deal with currency exchange. Some branches may be larger and able to account for that.

For example, from my knowledge I believe Wells Fargo does not trade IQD, but if you were to use their website, you would be able to likely find currency exchange and maybe special order it.

Banks generally take roughly a decent amount of turn around. I know I've heard it go both ways with B o A, but I know 5/3 banks have been pretty good about it.

I would not fret, there are many possible ways to get IQD & also sell it back if you need to.

[TheUnspoken]

USHistoryTeacher,

Welcome.

My wife and I just recently got invested, I have known about the dinar since 2004 (I think is when someone told me about it). I hadn't paid it much mind, my parents got invested after being told a second time (once by me).

I call my wife, I am currently out to sea, and she tells me that our Dinar came in. I said "Oh cool". She proceeds to tell me that she contacted a few banks to see if they could "verify" the validity via the De La Rue machines. She got turned away a lot. She finally calls the BoA in NY and the lady was really kind of brash with her but she said "If you come in I can discuss this with you in more detail."

My wife and I take what people say with a grain of salt. This money is valid, it can be spent in Iraq, once Revalue it, it will be valid all over the world so no worries.

Hope this helps some.

[tom3215]

Ive been in the dinar investment for 6 years and 6 months. In this time, in addition to dinar purchases from Dinar ****** and ****** Dinar,

I have purchased 4 different times from Associated Bank in the midwest. As Associated bank is only regional with about 400 locations, they

get their dinar from an international bank. All 40m I got from them was from BOA. And in fact, all dinar came sealed with a "Bank of America"

official type security stamp on it - and routed through Associated. In the 6 plus years, I have seen Associated, Chase and BOA say they are buying/ selling then later say no they are not. In fact, Associated has gone through this cycle at least 3 times that I can remember. As of a couple of weeks ago, they were still buying/selling as I called my local bank manager and asked. I dont really trust any of them. As my grandfather (who was quite wealthy)

always said to me " Tom remember, if you really need money, they wont lend you a dime, but if you dont need money, they will lend you all you want".

Certainly for me this has been proven over time.

thanks

tom 3215

[firefightingjunkie]

I am also a new member today but have been watching dinar for about 8 months and have bought lots. I called 5/3 bank in Rockford illnois on Friday and they buy and sell dinar. you need cash going in , no account necessary and 2 weeks later they will have your dinar. $1.00 for 1160 dinar. I asked how they base their exchange rate and they said the govt. sets the rate and it might change daily. they said no spread is added on their part.

Edited February 8, 2011 by firefightingjunkie

[relo]

My golfing buddy is a VP of Bof A and got me into this on a "flyer" over 4 years ago. Some banks will exchange and some won't. Until the dinar becomes an active trading currency, you are going to run into various opinions and various bank policies on how they will or will not handle it. Keep in mind that this, like any investment, may or may not produce the results that you want. Hopefully, it will all pan out in our favor but, I trade currencies, so just keep in mind that no one really knows when and how much except those that are responsible for it.