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My REAL Bank Story! - 30 july 2011 - Bank of America


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I don't know if I'm allowed to say this..... if I'm wrong Sorry you can delete me...I heard from someone who buys their dinars from another place that they could lock into the CBI rate if they exchanged with them, but you are locked in....if the rate comes in low well that's going to be ugly, but if it comes in higher than expected then they are supposed to give you the actual CBI rate - 150 per million transaction fee. I heard that from another investor so.....I would love to be faced with this dilemma !!!!!!! Right now!!!

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I always thought that if you traded in your dinars to a US bank that you would get the fed stated rate---they are the middleman here and want to get the best DEAL for your transaction to a US bank---thier deal is already cut --if you think that the bank is only getting thier front end fee from you usually a low fee ,feel your head becuase they will benefit on the back end from the FED and receive a check back from the Fed--normal business if you don't believe this put your head back between your legs and kiss yourself---the FED wants to redeem the exchange as cheaply as possible ,even with the pay back to the bank so The Fed can resell the currency at the highest exchange rate as possible--- in this case not the CBI but they will get that rate as a bench mark but IQDS for oil ,the price can fluctuate all it wants as the price of a barrel of oil has been preset for redemetion--just need to get our dinar as cheaply as possible to maxinize the fullest potential!

NOW Adams offer with the VIP is good ,He has made arrangements to GET the best possible deal on spread and fees---the reason is the Banks can see by doing a massive volume in exchanges they can charge less, off more attractive rates and make up in spades by the VOLUME of transactions---

I am not a pumper for Adam but think about the logic of all this---we often look to quickly and make hasty decisions---think about it just about all of the gurus and pumperssay quietly somewhere about you looking for the best deal with all banks before cashing in all the while shouting why it is best to cash in with them.

LAST thing I am going to say is I am hesitant about cashing in with anyone who has ANY cloud of suspicion about thier business practises in the last 6 months--one thing shipping out your purchase ,another thing cashing in and waiting for your money ---that makes me nervous to no end.

take the best deal you can find---don't get greedy, pay your taxes, never buy more than you can afford even if the intell says RV in 24 hrs.

capt cliff

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"So it is kinda like Pop Bottles, the deposit rate that i receive from the bottle,

is like the FED rate that banks pay directly to their customers for the transaction,

and as such, the store who redeems the Pop Bottles is not doing this for free,

they have employee labor involved and temporary storage, as well as liability while in storage,

and so, the Distributor or Bottler whom buys the Pop Bottles back from the store,

Provides them a greater rate than the pay-out transaction rate, that the customer receives from the store!"

You have got to be S*****G me man, if you had a conversation with a bank manager at such lengths’ for FREE & no disrespect to the ladies on DV

She YES she had this knowledge in her head without going to ask someone or going to a reference book she (SHE) must be virgin bloody Marie

Not buying this

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I find it funny he says he will be using BOA to cash in when they don't have any plans to deal with the dinar period......just add it to the rest of the list of things he mentions that don't make much sense I guess.....not bashing you proetus....but good thing you didn't ask them bout dinar....

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You have got to be S*****G me man, if you had a conversation with a bank manager at such lengths’ for FREE & no disrespect to the ladies on DV

She YES she had this knowledge in her head without going to ask someone or going to a reference book she (SHE) must be virgin bloody Marie

Not buying this

OTFLMAO ... OMGosh ... you mince words my friend!

Nah ... it didn't track for me either ... I checked with 5th third more than a year ago and found that the TREASURY's rate was 17% on either side of the "buy-actual-sell" prices of KWD ... phrased more succinctly ... a 34% spread on KWD

I know I've heard all sorts of reports that "NO CURRENCY IN THE HISTORY OF THE WORLD HAS BEEN MORE THAN 10%" ... Bollocks! is it my English friend?

At the same time I asked about an all time favorite the EUR ... 10.5% on either side of the "buy-actual-sell" price ... read that as 21% spread on EUR.

Folks ... shop around ... that's the answer ... sales people ... bank managers ... yes they are trying to sell you on their services ... are trying to get their piece of the pie ... from your piece of the pie ... regardless of the fact that they didn't invest in any pie!

"SHOP AROUND"

Again, thanks Zantac ... got a good chuckle from your very British understated post ... lol ... I gave you a "+" but they are already on you my friend!

Peace

Doc31

Edited by Doc31
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DOC,

That was one of the points I was hoping to make behind this post...

read everything, believe far less, execute what works for you

so like DOC Said: SHOP AROUND

as you will not know, what you have, until you ask!

IMHO,

I simply suggest you wait until the time is right,

to ask obvious questions like I tried to avoid,

BUT, this was the truth... it happened to me!

and most of all... I agree that:

BANK EMPLOYEES are not told anything more than they need to know to do their daily job,

BUT,

because someone seems oblivious to the questions you are asking,

does not mean that they do not know the answer to what you asked!

BEST WISHES...

Proteus

:twothumbs:

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Thank You finally someone went inside wink.gif

I find it funny he says he will be using BOA to cash in when they don't have any plans to deal with the dinar period......just add it to the rest of the list of things he mentions that don't make much sense I guess.....not bashing you proetus....but good thing you didn't ask them bout dinar....

They will when they see the spread

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I bank with Bank of Colorado I flat out ask them about the Dinar and I was told that they would cash me in at 15.00 no matter how much i had, He said.... BUT as of now it is not a tradable currency he said when it was he would be more than happy to handle the transaction. I guess my point is you can probably do better with your own bank than paying 150.00 per Million

God Bless

Go RV

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I bank with Bank of Colorado I flat out ask them about the Dinar and I was told that they would cash me in at 15.00 no matter how much i had, He said.... BUT as of now it is not a tradable currency he said when it was he would be more than happy to handle the transaction. I guess my point is you can probably do better with your own bank than paying 150.00 per Million

God Bless

Go RV

The $150 is just the fee to use their service. You also pay a spread, the difference in what the CBI price is, and what BoC will pay you. Look at it like wholesale and retail. I can sell your widget for $200, so I want to buy your widget from you for $100 to make some money, or the spread, plus I charge you a fee of $150 for my services. The spreads will vary, so you need to shop around.

Don't forget that you have a lot of leverage in this case. The banks need you to make the money, and the more dinar you have, the more leverage. There are exchangers that should be looked at too

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You have got to be S*****G me man, if you had a conversation with a bank manager at such lengths’ for FREE & no disrespect to the ladies on DV

She YES she had this knowledge in her head without going to ask someone or going to a reference book she (SHE) must be virgin bloody Marie

Not buying this

I'm completely puzzled by this bizarre comment. Perhaps I don't understand what you're saying. Are you saying that you don't think you can have a lengthy conversation with a bank manager for free? I have done so many times...are you saying that this knowledge of how to exchange some foreign currency is so involved that you don't think a bank employee or manager could know it without looking it up? It sounds like standard procedure to me. And you're saying that a woman could not retain that amount of information?

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I thought this post was reliable because I went thru the same thing with Wells Fargo. Just not the same length of time. And I did say it was the Dinar.she said as soon as it shows up on the computer they will cash in for no charge. I think they will make money when they sell it but it's good for them also to have all that money in their bank....duh !

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