***Chase bank Cash in fee FACT**

[easyrider]

August 8th, 2011 10:53 am ·

Well, it’s been a few months since my last post on Dinar, as I

was in Kuwait until the end of April. I hope this can help a few

people that have decided to go to their Bank to cash in.Now that I’m back home, I decided to start preparing for the

big day of cashing in by opening an account at a local Chase

branch here in xxxxxx, TX. Yup, new home of the

Dallas Cowboys!

When I went to open the account last Wednesday July 27, the

Branch Manager while opening my account said they do not handle

the Dinar at all. I told her not yet, but I’ll open an account

now to be ready.

Much to my surprise, NO big fanfare, NO special account offers

for account upgrade or waiving of minimum balances and fees, not

even a knowing look of “You’ll be doing well very soon”…NADA.

Well OK, I did get the “We’re still not sure if it’s a scam.”

(Hmmm…I just heard that same line at WF just 5 weeks ago.)

But I informed her I lived in Kuwait for 3 years, and I am VERY

comfortable with the large sum I have invested in it.

So, OK, I can handle the $50 for a new basic account with no

extras, but I was kinda hoping for a free Platinum account

But then I got the real kicker that came last Friday !

I returned home with just over 5.750 Kuwaiti Dinar (KD) left

in my pocket that I had not cashed in yet. Having to go to a

funeral in Houston on Saturday, I decided to go to my new Chase

branch and cash it in to get the KD out of my pocket, since it

IS an Internationally traded currency.

As I walked in, the Manager just happened to be walking to the

front door and recognized me, and asked if she could help.

I asked her if I could cash in some Kuwaiti Dinar, and she said

“As I mentioned Wednesday, we don’t handle Dinar.” I said this

is KUWAITI Dinar, not Iraqi Dinar, and she again said “No, we

don’t deal in ANY Dinar.”

I told her this is Kuwaiti and IT IS an internationally traded

currency, and should be OK. She excused herself to go check

“THE BIG BOOK” of currencies in the back.

After 5 minutes (!) she came back out with the book open and said

“OK, we can cash it in if it’s one of these bills here.” I told

her I have the 5 Dinar, the 1/2 Dinar, and the 1/4 Dinar bills,

pointing to each.

She said “Oh, well that should be OK then. The teller can help you.”

Wait. ..I’ve just spent the last 10 minutes with you, now I have to

go to the teller. Hmmm, maybe she will go too, and give the teller

the OK.

Nope, I get to the teller line, and no Manager in tow to assist.

I get to the teller after another 5 minutes, and she starts the

word-for-word “We don’t handle Dinar”…no, this is Kuwaiti…

and she goes in back to check.

So 5 minutes later…no kidding…she comes out and says “No, we

don’t handle ANY Dinar.”

I’m seeing a pattern and a frustrating delay here, so I tell her

the Manager JUST looked it up and gave the OK. She just gives it

the ole “Oh….OK, I’ll go look it up in ‘The Big Book’.”

Seriously !?!?!?

Now, 5 minutes later she comes out with the same book, I guess,

turned to the same Kuwaiti Dinar page, and says “OK, we can cash

in the ones on this page here.”

I hand her my Dinar to verify, and decided I better grab my phone

and get the latest Kuwaiti Dinar exchange rate from XE.com, right ?

I see it’s at $3.66 per Dinar, what it’s been since 2 months before

I left Kuwait. But NO…she says her screen shows the rate is $3.22

for this Dinar. I tell her it’s been $3.66 for months now, but again,

she only has a rate of $3.22 and that is all she can give me.

So here’s the kicker…my $21.04 now becomes $18.52 for nothing

more than Bank Fee’s !

That’s a whopping .44 cents per Dinar, or 12.0219% for these people

that don’t even know a currency is real after 30 minutes.

And that was for only 5.750 KD !

Now, what if this had been for more like 5,750,000 Iraqi Dinar (IQD)

at $3.66 with the fee here at 12.0219 %…for WHAT ?

If so, I would only get $18,515,000 instead of $21,045,000, thus

giving the BANK a fee of $2,530,000 just for the PRIVILEGE and

CONVENIENCE of walking in and cashing in with them I guess.

And that’s before taxes !

Well, not only NO….but H E * * NO !!!

Now I can see why Banks are chompin’ at the bit to cash us in !

So be advised everyone, watch the Banks VERY VERY closely

when it comes time to cash in, verify ALL rate quotes they may

give, and sign NOTHING without ABSOLUTE clarity.

If they slip in a clause that you WILL Cash-In ALL of your Dinar

holdings to them, then you take more somewhere else…another

bank or dealer…and cash it in, you are SCREVVED legally. You

signed a contract !

But most of all, DO NOT release physical holding of your Dinar

until a rate and amount is agreed upon…preferably IN WRITING

AND showing in your account balance, if at all possible

And if we can pool together to get a BEST RATE, let’s do so, as

some claim to be planning already.

Because so far, CHASE ain’t cuttin’ it for gettin’ MY millions !!!

Good Luck, God Bless, and continue to thank God for this Blessing !

[richie903]

isn't that called "the spread".

[Aqua Dude]

WHERE DID THIS COME FROM?

[easyrider]

WHERE DID THIS COME FROM?

From DD website.

Sorry i guess i should have posted where it came from first well now you know.

:)

Edited August 8, 2011 by easyrider

[Aqua Dude]

From DD website.

Sorry i guess i should have posted where it came from first well now you know.

:)

sorry for the caps, i wasnt' yelling ,just forgot to turn them off after i was done using it

Edited August 8, 2011 by Aqua Dude

[Caye98]

Thanks for the post.

Adam has that all covered in VIP. You can see the value if you only save 0.25% when cashing in.

[TimS]

Yup....the dreaded bank spread. But Adam has already worked out deals with at least 3 major US banks to get us a much better deal than we could get anywhere individually....aren't you a VIP easy???? You should know this stuff, Adams been telling us this for over a year now. That's the best pre-RV perk for being a VIP member....the bulk rate he's pre-negotiated for us. If you don't know this, well then you should become a VIP right now.....as you can see, if he saves us half of the spread, you stand to make extra million or two....well worth the VIP cost.

Sorry...thought you were sending this....didn't make sense, I know you know better.

Edited August 8, 2011 by TimS

[fogarty]

First Conveinence Bank, Sulpher Springs TX. no fee to exchange. Fact !

Edited August 8, 2011 by fogarty

[TimS]

First Conveinence Bank, Sulpher Springs TX. no fee to exchange. Fact !

There may not be an exchange fee, but there is no getting around the bank spread. NO BANK IS GOING TO EXCHANGE YOUR IQD AT THE SAME RATE THEY WILL SELL IT AT.....THAT'S JUST NOT HOW BANKS DO BUSINESS. THERE IS ALWAYS A SPREAD SO THEY MAKE MONEY.

[Hamels]

TD Bank also told me there would be no Fee or spread

[cooked]

isn't that called "the spread".

Yeah, spread your cheeks here it comes.

Here little piggy piggy

[Redwizard]

I am not sure where easy got this post, but it does sound like Chase banks for sure. I have 4 accounts with Chase so I am always in and out of the bank. They know very little about anything! 12% sounds like alot, if they want mine, they will have to sharpen there pencil! I think most people here will be able to tell the banks what they want and see how bad the banks want ther business. Your right, if a group walked in, that is more buying power for sure. May even get a FRESH cup of coffee and donuts!

[fnbplanet]

Maybe she was accidentally looking at the Iraqi Dinar page in her book when she quoted $3.22!

[Mntnman]

He says 'the banks are chomping at the bit to get our Dinar'? What? Where? I wouldn't say that! He could hardly cash in his KWD.

No one is chomping at the bit. YET!

Cheers

[UofIGuy]

Yup....the dreaded bank spread. But Adam has already worked out deals with at least 3 major US banks to get us a much better deal than we could get anywhere individually....aren't you a VIP easy???? You should know this stuff, Adams been telling us this for over a year now. That's the best pre-RV perk for being a VIP member....the bulk rate he's pre-negotiated for us. If you don't know this, well then you should become a VIP right now.....as you can see, if he saves us half of the spread, you stand to make extra million or two....well worth the VIP cost.

Sorry...thought you were sending this....didn't make sense, I know you know better.

While it is SUPER cool that Adam negotiated a more feasible spread for you. ANYONE can do the same, as I have negotiated a more feasible spread with my bank as well. It is just me that I negotiated for, not a large group. It can and will be done by any investor that would like to work for a decent spread. You don't have to pay someone to do it. I have done it myself.

[estewart]

I thought Adam had traveled around the world and made deals with foreign banks, no? NOTE, I am not at this time a VIP member so this is a question, not a remark.

[cajunrescuemedic]

That was my understanding, that Adam had completed the deals with some banks to get us a better deal on the spread. I'm a VIP member, but I don't know which banks he has talked to. I guess we'll find that out when the IQD RVs. I hope this is soon.

[SPECIAL LADY]

The market is down 600 points. All the banks are down especially BOA and Chase. Can we still blame the govt? This is happening all around the world. When is this going to RV?

Someone say something PLEASE!!!!!!

[Adam Montana]

NOW can everyone see why VIP is so valuable?!?!

Good luck cashing in at a bank without it! People are going to be SCREWED if they think there will be no spread or fees.

[dinarsoulmate]

Thanks for the post, Easyrider.

[debunker]

Interesting story...The incompetence of Chase is certainly true. The "chomping at the bit" part is less true. Interesting though....very interesting.

Good read.

Thanks Easy.

Debunker out.

[Guerra]

Does any of this have to do with the plunging dollar due to our leaders' inability to handle our nation's finances in a sound way? Your dollar is dropping because our credit rating has taken a hit. It would reflect in the exchange values you might be offered at your bank.

[umbertino]

******** banned member post *******

What a complete waste of money! Buying info and advice from a guy who lies about his name!!

Dumb

Why did you join? What are your motives? who sent you? what exactly do you want? You sound like a masochist ( one who willingly decides to inflict oneself pain)...You're welcome to it... Your choice, mr. Obvious Agent Provocateur

Edited August 9, 2011 by Adam Montana

[Jack Dinauer]

When it comes time to cash in, banks will be begging people to go to their bank and they will not be charging 12%.

[Adam Montana]

When it comes time to cash in, banks will be begging people to go to their bank and they will not be charging 12%.

Actually, they will charge whatever they want.

Are you going to say no to 3,4,5, or 6 banks in a row when they know you're just a lonely investor with a relatively small amount of Dinar?

NO, you won't. You will eventually give in, pay the spread, and then wish you were VIP.

And it will be a lot more than