BANK BRANCHES AND KNOWLEDGE OF IQD

[ATHIM]

Just a quick thought.

If you have ever carried more than $3,000.00 in cash into a bank for a deposit and felt like a sitting duck imagine how you would feel carrying $500,000.00 in revalued IQD into your car, down the road and walk it through the parking lot into the bank to then wait in the bank to talk to the rep. doing the exchange. Imagine how the bank would feel about customers walking in with more cash than their large Brinks deliveries. IMO they would feel compelled to offer tight security at every branch location cashing us out.

Lets say the great day has come and we are ready to cash out. BOA has approximately 6,000 branches across the USA and Wells has about 6,300 branches. Security guards at every locations, say during a 6 week cashing in period. 2-3 guards at an average at $1,000.00 per week each guard (just a guess).

6000 brances X 3 guards for 6 weeks at $1,000.00 per guard.

6000 X 6 X 3 X $1,000.00 = $108,000,000.00 for security. ($108 million)

My point is - - Perhaps the smaller branches are unaquanted and unfamiliar with the IQD because they will never be involved in the cash out process!

To me it makes logical business sense to limit the cash out facilities to specific banking centers that will set up time specific apointments, provide extensive security and minimise the risk and expense exposure for the banks.

In simple terms, bank tellers and bank employees dont know whats going on because it does not involve them.

My 2 IQD for the day.

God bless!

[HawaiianGal]

Interesting perspective. Many main banks here already keep a security guard on duty during heavy traffic times. That would cut down on some of the cost, because they are already incurring it.

[Jmcc]

I carry my own security.

[Joe P]

One additional thought. If you sat on the board of a major bank, would you choose to train 5% of your branches or all of them? The whole cash out period will take less than a month. Hence some bank rumors along with a preponderance of "we've heard nothing and its a scam". They're you go.

[ATHIM]

One additional thought. If you sat on the board of a major bank, would you choose to train 5% of your branches or all of them? The whole cash out period will take less than a month. Hence some bank rumors along with a preponderance of "we've heard nothing and its a scam". They're you go.

Good thought. Perhaps were onto something?

[patb1]

I carry my own security.

But you cannot carry it into the bank

You are looking at felony charges if you do

Be senseible

[LS1Hawk]

First of all, if you think you will be able to walk out of a bank with 500,000 dollars, YOUR DEAD WRONG.

First, you would have to give notice to the bank of your cash needs.

Second, They will have to order the cash (they claim they don't even have 20k on hand - Trust me I tried twice to cash two large checks bigger than 20k and the checks were twice as much in value) Both at Wells Fargo and BofA.

Finally, your deposit will come in Electronic form.

Even if you managed to get a hold of 500k in cash withdraw, You will be on a FBI Watch list faster then you cansay Home Land Security.

[ATHIM]

First of all, if you think you will be able to walk out of a bank with 500,000 dollars, YOUR DEAD WRONG.

First, you would have to give notice to the bank of your cash needs.

Second, They will have to order the cash (they claim they don't even have 20k on hand - Trust me I tried twice to cash two large checks bigger than 20k and the checks were twice as much in value) Both at Wells Fargo and BofA.

Finally, your deposit will come in Electronic form.

Even if you managed to get a hold of 500k in cash withdraw, You will be on a FBI Watch list faster then you cansay Home Land Security.

Agreed, Its not walking out thats the problem for as you said, the notes will be digitized, its walking in with IQD in large amounts that poses the problem.

If people know we are cashing in, the criminals not in the government, will have us in their cross hairs.

[Elixirbaby]

First of all, if you think you will be able to walk out of a bank with 500,000 dollars, YOUR DEAD WRONG.

First, you would have to give notice to the bank of your cash needs.

Second, They will have to order the cash (they claim they don't even have 20k on hand - Trust me I tried twice to cash two large checks bigger than 20k and the checks were twice as much in value) Both at Wells Fargo and BofA.

Finally, your deposit will come in Electronic form.

Even if you managed to get a hold of 500k in cash withdraw, You will be on a FBI Watch list faster then you cansay Home Land Security.

Ditto. The bank I bought mine from said cashiers check or wire transfer once funds had cleared. I'm ok with either .

Go RV

[R Veyron]

Sounds like a good problem to have. I look forward to a day when I am super paranoid and have the jitters something aweful while walking into a bank. But I think you do have a good point though and it will be something that we, and they,. will have to work out when the time comes. Like the Boy Scout motto says "..Be Prepared"

[HeyJonesy]

I think we've all thought about it at one time or another and I've wondered about security as well.

You'll probably be seeing me running through the bank parking lot like Benny Hill in a chase scene.

[coldwarvet]

The wide variety of "bank stories" on this site should tell everyone that the average bank employee doesn't have a clue about the IQD investment. The employees, if they know at all, will be the last to know about the IQD cash in, and then only on a need-to-know basis.

[uncirculd]

First of all, if you think you will be able to walk out of a bank with 500,000 dollars, YOUR DEAD WRONG.

First, you would have to give notice to the bank of your cash needs.

Second, They will have to order the cash (they claim they don't even have 20k on hand - Trust me I tried twice to cash two large checks bigger than 20k and the checks were twice as much in value) Both at Wells Fargo and BofA.

Finally, your deposit will come in Electronic form.

Even if you managed to get a hold of 500k in cash withdraw, You will be on a FBI Watch list faster then you cansay Home Land Security.

Your so right. I pulled out $12000.00 to buy a coin and got questioned. they know me but they still asked questions. I really felt like a criminal. security reasons they said I could be paying a ransom. Really! I ain't no millionaire. Not yeat anyway

[boon]

Just a quick thought.

If you have ever carried more than $3,000.00 in cash into a bank for a deposit and felt like a sitting duck imagine how you would feel carrying $500,000.00 in revalued IQD into your car, down the road and walk it through the parking lot into the bank to then wait in the bank to talk to the rep. doing the exchange. Imagine how the bank would feel about customers walking in with more cash than their large Brinks deliveries. IMO they would feel compelled to offer tight security at every branch location cashing us out.

Lets say the great day has come and we are ready to cash out. BOA has approximately 6,000 branches across the USA and Wells has about 6,300 branches. Security guards at every locations, say during a 6 week cashing in period. 2-3 guards at an average at $1,000.00 per week each guard (just a guess).

6000 brances X 3 guards for 6 weeks at $1,000.00 per guard.

6000 X 6 X 3 X $1,000.00 = $108,000,000.00 for security. ($108 million)

My point is - - Perhaps the smaller branches are unaquanted and unfamiliar with the IQD because they will never be involved in the cash out process!

To me it makes logical business sense to limit the cash out facilities to specific banking centers that will set up time specific apointments, provide extensive security and minimise the risk and expense exposure for the banks.

In simple terms, bank tellers and bank employees dont know whats going on because it does not involve them.

My 2 IQD for the day.

God bless!

In a effort to reassure people , the first line of defense is anonymity , no one know you have anything they do not worry about it. Make a appointment, I have been self employed for thirty some years and have had large deposits and never one time had any problem. Further more not all banks handle foreign currency and it will likely be neccessary to submit the currency to a small branch and then they will verify it somewhere else and then honor your deposit. Note you will not be walking out with a million in cash. Banks have to manage there inventory of money and cash costs the banks . They live in a digital world and the deposit you make will be come a number. Your debit card will be your quick draw and any time you withdraw more than 5000.oo or more somebody will take note. If you are in business this does not apply equally as the transaction are not out of the ordinary . Still cash in and cash out gets scrutinized. In fact the amounts are subject to interpretation and will be more or less monitored base upon your relationship and history with the bank. Presumably this is to counteract , drug trafficking and terrorism , be your own judge. In any event if you maintain a low profile and use a little common sense their will be little risk . The fact is if you use a obscure location and not a airport where thousands of people are intending to cash in, you will be just as safe as the secretary who makes a daily deposit from safe way or at the mall where my wife works .

[Snatcher]

But you cannot carry it into the bank

You are looking at felony charges if you do

Be senseible

That is not true...I conceal carry into banks all the time, Here in texas...Unless it is posted on the front door that , that perticular bank does not allow weapons. The only places you are not allow to carry are inside airports,Courthouses,School Zones and place where 70% of your business is alcohol related.

That is not true...I conceal carry into banks all the time, Here in texas...Unless it is posted on the front door that , that perticular bank does not allow weapons. The only places you are not allow to carry are inside airports,Courthouses,School Zones and place where 70% of your business is alcohol related.

Correction 51% of your business is alcohol related.

[pfflyer51]

I think we've all thought about it at one time or another and I've wondered about security as well.

You'll probably be seeing me running through the bank parking lot like Benny Hill in a chase scene.

Go Benny!

[Kittykins]

I carry my own security.

DITTO !!! & I always forget that I have ti & waltz right in the bank.... They are none the wiser but then I am not a criminal so they have nothing to fear.

[randalln]

since we are on the subject did you know that in the event that you are being robed at a ATM put in you ATM # backwards and the money will still come out ,but there will be more cops than you can shake a stick at in a split second

Works world wide

Edited August 28, 2011 by randalln

[abutchbaker]

More BS............

[coyote]

Just took the concealed carry class, guess what banks are not on the list of places you cannot carry your weapon, my security stays with me at all times.

[Goeers]

I could bet they'll make it all back and more with their spread...................................

[getrdone]

I don't plan on wearing a shirt that says "HEY CRIMINALS, I AM CASHING IN A BOATLOAD OF DINAR THAT JUST RV'D AT ($ fill in the blank)". Not many people know about the dinar (Banks included), so flying under the radar is the key. I will go in quietly, take care of the transaction, then go straight home, and change my shorts....

[HeyJonesy]

I don't plan on wearing a shirt that says "HEY CRIMINALS, I AM CASHING IN A BOATLOAD OF DINAR THAT JUST RV'D AT ($ fill in the blank)". Not many people know about the dinar (Banks included), so flying under the radar is the key. I will go in quietly, take care of the transaction, then go straight home, and change my shorts....

You're exactly right. I'm not planning on wearing a IQD backpack..

Thanks for the LOL. Your comment, "then go straight home and change my shorts". Yeah.. spotting is acceptable when we get the RV. LOL..

[Fearless Four]

[uncirculd]

:lol: You'll need your own Army to cash that in!!