Thread: Iraq/Dinar News. 09/05 to 01/14/07

No problem Treater, we're in this together, and don't quit posting because I wouldn't read 302 pages before I post either. LOL

Originally Posted by flygirl1

Well gang, A funny thing happened today. (not ha ha) I called Bank of America and Wells Fargo Banks today and asked them if they would be exchanging the dinar when the reval happened. I talked to a manager at Wells Fargo. They didn't even know what a dinar was or what I was talking about. Any thoughts on this? I find this strange since it seems that the dinar is about to peg and none of the banks even know what it is.

The larger banks like Bank of America and Wells Fargo have separate divisions/departments dedicated to the Foreign Exchange so it is not surprising that the local branch managers know nothing about the Iraqi Dinars. Most Wells Fargo branches have a kiosk that is dedicated to customer service and has a telephone to access various services...one which is foreign exchange. Use that and you will be connected to a very knowledgable rep. Once the dinars peg it will be no problem to get them exchanged.

Originally Posted by danny51

The larger banks like Bank of America and Wells Fargo have separate divisions/departments dedicated to the Foreign Exchange so it is not surprising that the local branch managers know nothing about the Iraqi Dinars. Most Wells Fargo branches have a kiosk that is dedicated to customer service and has a telephone to access various services...one which is foreign exchange. Use that and you will be connected to a very knowledgable rep. Once the dinars peg it will be no problem to get them exchanged.

Good post danny51, I Bank at Wachovia along with Wells Fargo. And both handle this. Yes Wells Fargo has a Branch for this and Wachovia locally can handle it, but needs two day notice. I have checked both and am personal with the Wachovia People.

Originally Posted by cigarman

Neno, I'm sooooo excited I post news before verifying the date, but since I got caught with an old article I'm making sure it's recent. LOL

No Problem cigarman, you are a good man. I did the same thing. I know we are all excited, But that makes this even more important ever now. People read what we post and may buy more on our old news. We want it to be fresh with dates and links to see it for our selves. I am sure you will all agree.

Neno, I agree, NOW LET THE DINAR PEG !!!!!!!!!!

So, where is the "Adster"? Is he still in Spain? We have not heard from him today.

In a previous post it was stated that different banks will charge different fees or "spreads"(I believe this is the word used) for the exchange. If spread is or isn't the correct term, could someone please explain what this means and give the correct term used. Have no problem understanding the fee part. And also does anyone have an idea what the cost would/could be?

And......welcome Treater. Good to have you here.

Thanks,
Monica

Originally Posted by flygirl1

Well gang, A funny thing happened today. (not ha ha) I called Bank of America and Wells Fargo Banks today and asked them if they would be exchanging the dinar when the reval happened. I talked to a manager at Wells Fargo. They didn't even know what a dinar was or what I was talking about. Any thoughts on this? I find this strange since it seems that the dinar is about to peg and none of the banks even know what it is.

The average bank manager will not know much or anything about foreign currencies and their exchange policy. I'm surprised that they did not direct you to their foreign exchange office.

I probably had the "I don't care group"

Originally Posted by readytogo

In a previous post it was stated that different banks will charge different fees or "spreads"(I believe this is the word used) for the exchange. If spread is or isn't the correct term, could someone please explain what this means and give the correct term used. Have no problem understanding the fee part. And also does anyone have an idea what the cost would/could be?

And......welcome Treater. Good to have you here.

Thanks,
Monica

The spread is the difference between the asking price and the selling price in any given market. The term spread does not apply to the exchange fee and if you have an account with the bank it is very likely that they will not charge you any fee at all.