Thread: All Banks $ Dealers News Here.

Originally Posted by kerby team

I called two locations this morning; Kingman, Az. and Bullhead, Az. Kingman said they do not sell IQD. She even check with her asst mgr and came back with a negative. I then contacted Bullhead who responded yes they do sell but would have to order. When I called back to inquire about the rate, she couldn't find the currecny designation on her list. I left my number with her and she did return my call. She updated her position that they do not sell IQD to non-customers.

Now taking into account that both of these locations are in small outlaying rural areas they may not be aware of this situation. I quized the rep about her knowledge of IQD and she had not even heard about it at all.

I called these two locations as I am in LV and they are the closest to me. It appears I will have to make a trip to Phoenix.


Kerby Team

I just got a call back from the Mgr in Bullhead, Az. Much to my surprise. he did say they would sell but would prefer the buyer to have an account with them. In our conversation, he stated there was a fee, he did not know what it is, he suggested I find a bank in Las Vegas to purchase from. He made this suggestion twice during the conversation. I got the feeling that he would sell but was not enthusiastic about it.

Originally Posted by Par77

Yep, I wish I had checked out my brainstorm months ago when Chase started selling Dinar. I would have saved a lot of money and gotten more for my money. Oh, well. Almost a $10.00 increase in a week! Wait until that 100,000 is $100,000.00!!! WOOT!

Par77 are you in Nor or So Cal?

Originally Posted by mrvgs

Par77 are you in Nor or So Cal?

I am in Los Angeles, CA. Am I missing something here?

thank You One and ALL for providing me with BoA answers. I am going to try again tomorrow and be a little more agressive with my questioning. I want to buy a few more. Dinar. Not a whole lot, because I can't afford a whole lot LOL. BOB

Originally Posted by Socata 850

I was down at the bank yesterday and I asked them if they were charging me a fee. The teller said there is no fee if I am an account holder. Our branch has been very progressive in the dinar arena. I've been keeping track, they have been right on the CBI rate since I started buying there. Thanks

Socata, think a minute about what you are saying. You are saying that Chase sold you Dinar and charged you nothing for it. Do you know any bank that would do something for you for free? Even with an account? Somehow, someway you are paying for their service.

There is a fee, but it is not called a "fee". The fee is built in to the rate they charge you. The teller probably thought you meant an additional fee on top of the rate they charge. There is no additional "fee". As I said the fee is built in to the rate they are charging you. The fee is the margin (difference) between the rate they are charging you and the rate that Chase pays for the Dinar. Unfortunately, I do not know exactly what rate Chase is paying for the Dinar, but I do know that there was a $70 to $80 difference between what Chase was charging and the daily rate at the Central Bank of Iraq was. So, assuming they are operating in standard operational procedure the margin should be similar to before. So, why do you think Chase would sell you currency for no profit? That is what they are in business for, to make profit.

Originally Posted by Par77

I am in Los Angeles, CA. Am I missing something here?

I am in the bay area. Where do you plan to cash in at when it revals? This is what I'm trying to figure out so I will have a game plan. I have read I think that some Wells Fargo and B. of A. banks sell the dinar but I can,t find any that do up here. Have you heard of these banks doing so in your area?
mrvgs.

Originally Posted by TerryTate

Socata, think a minute about what you are saying. You are saying that Chase sold you Dinar and charged you nothing for it. Do you know any bank that would do something for you for free? Even with an account? Somehow, someway you are paying for their service.

There is a fee, but it is not called a "fee". The fee is built in to the rate they charge you. The teller probably thought you meant an additional fee on top of the rate they charge. There is no additional "fee". As I said the fee is built in to the rate they are charging you. The fee is the margin (difference) between the rate they are charging you and the rate that Chase pays for the Dinar. Unfortunately, I do not know exactly what rate Chase is paying for the Dinar, but I do know that there was a $70 to $80 difference between what Chase was charging and the daily rate at the Central Bank of Iraq was. So, assuming they are operating in standard operational procedure the margin should be similar to before. So, why do you think Chase would sell you currency for no profit? That is what they are in business for, to make profit.

Terrytate, there is a $5.00 fee that my local Chase Bank charges, and this is over and above any profit that they are making on the spread. I am not an account holder at Chase. I think this 5 dollars is reasonable.

Listen up..went to Chase Tuesday 1-2-07 and asked to purchase 5 mill, also asked the buy and sell rate for the day. I was told the buy rate, as in if I wanted to buy, was .00079640, or 1255.65 dinar to the US$. The sell rate was .00067750, or 1476.01 dinar to the US$. I made my purchase of 5 million and picked them up today. I had asked for all small bills, but ended up with all 25K notes (oh well, prolly cant be choosy anymore). So while I was there today I again asked for the current buy and sell rates. the buy rate today was .00088650, or 1128.50 dinar to the US$. The sell rate was .0006955, or 1438.50 dinar to the US$. So in 3 days the dinar has gained 127.5 points, all while the CBI is closed down with the price of the dinar fixed at 1325?? Methinks there are things going on behind closed doors that we are not privvy to.

I asked where the Dinar I ordered came from and the teller didnt know, she looked but couldnt find out that info. She said their orders go to LA, then to NY, and eventually my dinar comes from one of their vendors somewhere. It came to me in a sealed plastic envelope, which after confirming I was who I was, she told me and showed me she was now unsealing the envelope, which she cut with scissors. Then she told me she had to count out each bill, which she did. She started out going "25000, 50000, 75000, 100000" and then quickly lost count, so she looked on the order form and it said there should be 200 25K notes, so she counted out 200 notes LOL.
EDIT: I also asked her if they had a De Larue machine in the bank and she said yes. I was shocked and said you do, you have a machine right here. Then she said oh no, I thought you asked if we worked with De Larue, which we do.

Originally Posted by mrvgs

I am in the bay area. Where do you plan to cash in at when it revals? This is what I'm trying to figure out so I will have a game plan. I have read I think that some Wells Fargo and B. of A. banks sell the dinar but I can,t find any that do up here. Have you heard of these banks doing so in your area?
mrvgs.

I think when we get to the point of cashing in both Wells Fargo and BoA will be on board. When it is traded internationally we can cash it in anywhere. Right now it is just getting off the ground and Chase is the only one buying and selling. Wells Fargo/BoA are both banks I have accounts at and both told me the same. Neither are trading now, but will in the near future

Originally Posted by Socata 850

I was down at the bank yesterday and I asked them if they were charging me a fee. The teller said there is no fee if I am an account holder. Our branch has been very progressive in the dinar arena. I've been keeping track, they have been right on the CBI rate since I started buying there. Thanks

As one of the Chase's I send everyone too is very active with the dinar as well. But they donot and I repeat do not sell at the CBI rate. Scota if you will make the call for the rate they are selling to you for, you will see that is not the CBI rate. Terry Tate is right. But it is the best rate you are anyone else is going to get, unless they are inside of Iraq. I haven't made another purchase in a while, but for all the ones I have they are always alittle different the CBI. They have always sold to me and the ones I have sent their for a rate alittle lower than CBI and then alittle lower also on buying them back than the CBI rate as well. I bet if you check the rate you are getting them at it will be alittle different. But hey it is the Best.

By the way it isn't a fee they call it. It is a exchange rate they call it.