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Is This Why People Say Wells Fargo Stop Selling Iraqi Dinar


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Is it because Wells fargo furnishes the banks, and dinar sellers with the Iraqi dinar? The following website was taken from a bank screen by an individual who seen it while asking about foreign currency. The website is owned by Wells Fargo according to the names on it. I do not see any way to join it, so it must be only for banks, and currency dealers. Very unusual IMO.

https://secure2.currencyteller.com/index.cfm?fuseaction=security.

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Is it because Wells fargo furnishes the banks, and dinar sellers with the Iraqi dinar? The following website was taken from a bank screen by an individual who seen it while asking about foreign currency. The website is owned by Wells Fargo according to the names on it. I do not see any way to join it, so it must be only for banks, and currency dealers. Very unusual IMO.

https://secure2.currencyteller.com/index.cfm?fuseaction=security.

Since when has Wells Fargo dealt with the Dinar? They don't and have no plans to.

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Since when has Wells Fargo dealt with the Dinar? They don't and have no plans to.

Since that website belongs to Wells Fargo, and that bank get's Iraqi dinar through that site, then Wells Fargo deals in Iraqi dinar. And yes Wells Fargo has dealt with Iraqi dinar in the past, because a friend of mine bought some there in the past. You best do some more research since you say they never have sold it.

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Since that website belongs to Wells Fargo, and that bank get's Iraqi dinar through that site, then Wells Fargo deals in Iraqi dinar. And yes Wells Fargo has dealt with Iraqi dinar in the past, because a friend of mine bought some there in the past. You best do some more research since you say they never have sold it.

they have sold it at one point. It has been at least 1 1/2-2 years since they've traded it.

not sure why I received a "-1" on my previous post.....? oh well

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They do deal with foreign currency, however the IQD is just not one of them...

Happy Thanksgiving!!

That site is owned by Wells Fargo, and the bank my friend was at that seen this screen, and this website does supply Iraqi dinar to other banks, so Wells Fargo is dealing in Iraqi Dinar. Maybe not to individuals, but they are selling them though that site to currency exchanges, and other banks who sell the dinar. Look at the name at the bottom of the site, it is Wells Fargo.

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and this website does supply Iraqi dinar to other banks, so Wells Fargo is dealing in Iraqi Dinar.

How do you know this site does supply the IQD? Just curious. Previously you stated that you couldn't sign in. So if someone just looked at the screen at a bank... how do you know the website supplies IQD?

Not being a jerk, for real want to know...

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Is it because Wells fargo furnishes the banks, and dinar sellers with the Iraqi dinar? The following website was taken from a bank screen by an individual who seen it while asking about foreign currency. The website is owned by Wells Fargo according to the names on it. I do not see any way to join it, so it must be only for banks, and currency dealers. Very unusual IMO.

https://secure2.curr...ction=security.

BANKS IN THE US STOPPED SELLING DINAR DUE TO IT NOT BEING A TRADABLE FOREIGN CURENCY. THAT'S WHAT I WAS TOLD BY AN INVESTMENT BANKER.

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BANKS IN THE US STOPPED SELLING DINAR DUE TO IT NOT BEING A TRADABLE FOREIGN CURENCY. THAT'S WHAT I WAS TOLD BY AN INVESTMENT BANKER.

there is a forum here (cant remember exactly what it is under) that speaks of all current banks still dealing with IQD. 5/3 Bank and Woodforest Bank were the 2 I remember reading. Havent verified personally myself though.

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I think that Wells Fargo bought a large currency exchange some time this year, if my memory serves me correctly. Can't remember the name, but read it in the news.

I'm searching now...unable to find an article on it. I'd be interested to read up on the details of that. I know that at the beginning of the year they purchased a system that allowed branches to be able to deal/hold/handle foreign currency in the branch. Wonder if that'd be what it was talking about.

I'm curious... ;)

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I'm searching now...unable to find an article on it. I'd be interested to read up on the details of that. I know that at the beginning of the year they purchased a system that allowed branches to be able to deal/hold/handle foreign currency in the branch. Wonder if that'd be what it was talking about.

I'm curious... wink.gif

Thank You G Money I am curious also rolleyes.gif I just wouldn't know where to look, much appreciated

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I did find this, but it was just a few months back....

http://www.marketwatch.com/story/wells-fargo-buys-foreign-currency-wholesaler-2011-05-09-1244430

Market Pulse Archives

May 9, 2011, 12:44 p.m. EDT

Wells Fargo buys foreign currency wholesaler

SAN FRANCISCO (MarketWatch) -- Wells Fargo & Co. WFC -1.46% said Monday it bought substantially all of the U.S.-based assets of Foreign Currency Exchange Corp., a wholly owned subsidiary of the Bank of Ireland Group. Financial terms of the deal were not disclosed but the transaction will close this summer. FCE is an Orlando, Florida-based foreign currency wholesaler that serves about 140 banks in the United States. The firm's core business is enabling banks to offer foreign currency exchange services to their clients

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bought substantially all of the U.S.-based assets of Foreign Currency Exchange Corp., a wholly owned subsidiary of the Bank of Ireland Group.

interesting find. definitely not what I was speaking of. I'll ask around and see if I can get some details on this. I'll do some diggin!

www.fceco.com is listed at the top website "Anti this Anti that" listed that started this whole thread.

"Foreign Currency Exchange Corp" (www.fceco.com) is the buyout that mommyof3boys is talking about.

Interesting...but probably not related at all to the IQD. has triggered my curiosity though :blink:

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I have talked to multiple bankers and all have basically said their currency services are basically a courtesy they provide to their customers they really dnt make much if any money off of it. They offer really low margins and with transportation costs and them paying a point or two above spot they basically break even. If ur going on vacation they r happy to helpbut not looking to help investors they all tell me if u wajna invest in currency go on forex.

Its probably also true that it has something to do with there really being no official rate in the sense its not pegged to usd or other currencies its prob risky for them to be holding alot of it

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How do you know this site does supply the IQD? Just curious. Previously you stated that you couldn't sign in. So if someone just looked at the screen at a bank... how do you know the website supplies IQD?

Not being a jerk, for real want to know...

The reason I know that is because a friend seen that, and the lady at the bank signed into that website in front of her, and said that they were selling the Iraqi dinar when she ask them. She ask about another currency first, and then the Iraqi dinar, and she stated she could order it from them. Wells Fargo must have stop selling to individuals, but they are still dealing with currency exchanges and other banks. Wells Fargo just don't want speculators getting the dinar from what I gather. I feel that there are to many people getting involved with the dinar, and that will be the downfall of the investment if people keep letting everybody know that. Let people find out on their own.

BANKS IN THE US STOPPED SELLING DINAR DUE TO IT NOT BEING A TRADABLE FOREIGN CURENCY. THAT'S WHAT I WAS TOLD BY AN INVESTMENT BANKER.

If it's not a tradable currency, then why do they sell it at airports so you can have dinar once you get to Iraq? Banks know it's going to RV, and they have been ordered to stop selling it more than likely.

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This is the reason why some banks are not dealing with dinar; I found this on the US Deparment of the Treasury website.

Currency Conversion And Transfer Policies

The currency of Iraq is the Dinar (IQD - sometimes referred to as the New Iraqi Dinar). The Iraqi authorities confirm that in practice there are no restrictions on current and capital transactions involving currency exchange as long as underlying transactions are supported by valid documentation. However, it is unclear whether currency convertibility is entirely free from exchange restrictions. The National Investment Law contains provisions that, once implemented, would allow investors to bank and transfer capital inside or outside of Iraq.

The Government of Iraq’s monetary policy since 2003 has focused on maintaining price stability and exchange rate predictability. Banks may engage in spot transactions in any currency, but are not allowed to engage in forward transactions in Iraqi Dinar for speculative purposes. The Central Bank of Iraq (CBI) can intervene, when necessary, in order to maintain stability in the foreign exchange market. There are no taxes or subsidies on purchases or sales of foreign exchange. Improved security has allowed for an increased supply of goods and services, which has reduced inflationary pressures as compared to 2006. The Central Bank has implemented effective monetary and exchange rate policies that continue to help temper inflation.

This is the link, I found it on.

http://www.state.gov...2008/100879.htm

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there is a forum here (cant remember exactly what it is under) that speaks of all current banks still dealing with IQD. 5/3 Bank and Woodforest Bank were the 2 I remember reading. Havent verified personally myself though.

Adam has a post in the buy/sell dinar section...pinned at the top...lists the banks that sell Dinar.

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