Thread: All Banks $ Dealers News Here.

Originally Posted by Par77

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

And I have check with Wachovia too. They dont handle it right now, but they can get it. The ones here in the Dallas/Ftw area will use a Currency/Brooker/ The one they told me out of Dallas is Thomas????? something. But it is not worth it unless you were going for a Big Order. Exspecially since we here all have Chase at our disposal.

I had a teller at my small branch get a quote today for 500,000. She phoned
BOA and was getting the quote within earshot of where I was standing. While
I did not get the whole conversation I did hear "OK I'll tell him".
When she came back to the desk the price was $550 Canadian for a half mill.
Then she told me that the girl on the phone said to say to me "If he is thinking about getting some he SHOULD GO FOR IT.

Nuff said.

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

the problem that you are having is that you are " CALLING " , do not call just go in, you can stand out in the parking lot and call they will tell you NO out of laziness or just not used to that type transaction, but when you go in and they look it up on the computer screen, they will tell you YES....

assuming you are talking about CHASE - doesn't matter how big or small your bank is, even the MAIN CHICAGO CURRENCY branch MANAGER told me NO ...
pothetic as it is, even after calling her on 2 seperate occasions, weeks apart

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.

Regardless, Socata859 is showing a 90 point increase in value, in about one weeks time. That is outstanding! Especially considering the CBI is holding their rate steady until Sunday at 1325.

If the $886.50 price includes a $70-$80 fee, so does the $796.40 price he paid a week ago...Still a 90 point increase in value....Simply Outstanding!!!

Something is going on, away from our view, which is extremely in our favor. This is almost a 200 point difference than what the CBI states. This kind of difference, to the POSITIVE, is unheard of...They usually lag the CBI.

Folks this is not Black Market. This is a bank...Which leads me to believe the black market is probably around 1000:1...probably better in most cases...and that's only for the few exchangers willing to part with IQD.

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

Kerby:
Go into the Chase on Stockton Way (I believe is the name of the road. It is just south of the Home Depot) I bought 1 Mill. from them. When I first went in only one person knew about it and tried to help my teller with the transaction. They first told me that they did not sell it, but then the only teller that knew anything about NID overheard us and corrected the teller I was talking too. I am not a account holder and therefore you will be charged a $5.00 dollar fee. Todays rate when I picked up my order from last week is .0006885. Hope this helps.
Im1vestr

Originally Posted by im1vestr

Kerby:
Go into the Chase on Stockton Way (I believe is the name of the road. It is just south of the Home Depot) I bought 1 Mill. from them. When I first went in only one person knew about it and tried to help my teller with the transaction. They first told me that they did not sell it, but then the only teller that knew anything about NID overheard us and corrected the teller I was talking too. I am not a account holder and therefore you will be charged a $5.00 dollar fee. Todays rate when I picked up my order from last week is .0006885. Hope this helps.
Im1vestr

the first time i bought from my local chase, i called, they said NO, i called next day, someone else said NO, next day i walk in, the teller who was
" iraqi " told me NO, then i asked her for a third time, and the manager helped her look it up, and said, " oh, i guess we do " , that's all you need to know about calling the branches and bank teller help..

Originally Posted by Mauser98k

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.

Yes, as you are not an account holder that would be expected. As I am an account holder they do not charge me the $5 fee. They get my $5 every month. Sorry, for having to clarify that. They still charge both of us the spread.

Originally Posted by wellwishes

Regardless, Socata859 is showing a 90 point increase in value, in about one weeks time. That is outstanding! Especially considering the CBI is holding their rate steady until Sunday at 1325.

If the $886.50 price includes a $70-$80 fee, so does the $796.40 price he paid a week ago...Still a 90 point increase in value....Simply Outstanding!!!

Something is going on, away from our view, which is extremely in our favor. This is almost a 200 point difference than what the CBI states. This kind of difference, to the POSITIVE, is unheard of...They usually lag the CBI.

Folks this is not Black Market. This is a bank...Which leads me to believe the black market is probably around 1000:1...probably better in most cases...and that's only for the few exchangers willing to part with IQD.

Look folks, I am not trying to pee in Socata's pool. His information is great. I am simply trying to point out how the system works, so that you can get a better feel for what the current CBI rate might be as the CBI isn't posting it. Just trying to do a little deductive reasoning here. Sorry if I have confused anyone. Just thought it might be fun to try and use the Chase information to get some CBI information indirectly. If you are still confused, please feel free to ignore this post.

Originally Posted by TerryTate

Look folks, I am not trying to pee in Socata's pool. His information is great. I am simply trying to point out how the system works, so that you can get a better feel for what the current CBI rate might be as the CBI isn't posting it. Just trying to do a little deductive reasoning here. Sorry if I have confused anyone. Just thought it might be fun to try and use the Chase information to get some CBI information indirectly. If you are still confused, please feel free to ignore this post.

I think what you have pointed out is very important...Didn't mean for my response to seem negative in any way towards your statements. I was trying to make sure everyone understood that the spread was on both prices Socata paid, thus, a 90 point increase no matter how you looked at it. For the the IQD to move this much while the CBI is standing pat, is almost unbelievable.

Again. Sorry for the misunderstanding.

I just returned from Chase bank in Fort Collins,CO and picked up some more dinar.The bank used to have only 25000 notes then two weeks ago 10000 notes. Today for the first time I received 5000 notes.This to me is very encouraging. Thanks Ron