RV Preparations - Help needed.

Hi everyone,

I am hoping that someone will be able to point me in the right direction.

Within the past few months. Okie detailed what we all should do in regards to cashing in with banks.

I think it involved making a photo copy of all our notes, writing down banknote serial numbers, having the bank sign the photocopies before handing over the money etc etc.

I have been searching this forum for the information, but can not locate it. Is anyone able to point me in the right direction?

GO RV!

Just make a black and white copy of your Dinar.  Good luck trying to get the bank to sign your copies(They Won't).  Don't cash in with a bank if you feel uncomfortable about their procedures.  I know I would be very wary if they wouldn't, or couldn't verify that my Dinar were real and wanted to send them off to be verified.  Also, if the person you're doing business with seems unsure of what they are doing you may want to go somewhere else.  Go with your gut!

I do NOT see any benefit of making copies, since if the bank were to lose the notes or come back and claim them to be counterfeit the copies will not be recognized by the bank as proof.

I suggest going only to a bank that will check them in your presence, verify and deposit on the spot. Some currency exchangers would cash them on the spot, but if large amounts that won't work. I would guess most internatinal banks in lare cities can verify and deposit on the spot.

Make the bank make the copies and then certify that the copies are the true and correct images of the dinar you cashed in. Then there is no question, unless the dinar you have is counterfit.

Eternal1,

As has been stated, if it does not fell right, walk away, if they can't verify you OQD in front of me right then, I'm gone.

Before you bring in a boatload of IQD, just go in ask to speak with the person in charge of foreign currency or the manager, as them about their proceduer, any costs invloved, ect, check several places in your area, then make your choice. They will all be happy to assist you after RV as they will want to make you a long time customer. Just a liittle pre planning should do the trick.

JMHO
Now is good
North of sixty five this week

Yes I have read where it is considered an act of counterfeiting when making a copy of the money if it is basically replicating the currency due to our wonderful and colorful ink/laser printers today...My findings stated that if you felt you must copy them to copy in black/white and make them much smaller or much larger than the actual currency size. As far as the bank signing off, I agree with the above post from my findings as well...they will not sign off on any copy like that...something to do with liability issues etc and to "what" were they signing off on, etc. So dealing directly with an entity that will cash in your dinar right then and make the deposit directly into your account right then is the safest way so being diligent in your search for the right place is a must. Im hearing Chase, BOA, Wells Fargo are the larger banks that are going to work with it, but I am sure many local banks will begin to as well.

I am in a small (under 100,000) town. I plan on taking a couple or 3 $1000 notes to each, ask for a person to help me, cash them there...find out their proceedure. They will be more apt to be positive if you have those few in hand with a promise of more if you are pleased with your reception. As I cannot find a delerue in this town..I am stimied as to how to check on spot.
We have Chase and BOA..no Wells Fargo. Could someone tell me that fourth bank that has been mentioned as of the big four. I will be taking my initial cash to a trust lawyer, setting up trust, opening a bank account in trust name and cashing in dinar straight into trust. Now this is my thinking, and have not been advised to this proceedure, and cannot afford to go right now to lawyer. Also, I am in Texas and on Randy Koonze list for the shingdig in Austin 3 weeks after RV..and I might wait to do anything except cash a few small bills unntil after that. Hope this helped RRT

RRT,

If I remember my maps, you are not far from Houston or Dallas, that could always be an option. Don't forget that some of the dealers might be setting up shop in larger towns/airports also. I do believe after RV, we should have plenty of options.

RoseRedTyler wrote:I am in a small (under 100,000) town. I plan on taking a couple or 3 $1000 notes to each, ask for a person to help me, cash them there...find out their proceedure. They will be more apt to be positive if you have those few in hand with a promise of more if you are pleased with your reception. As I cannot find a delerue in this town..I am stimied as to how to check on spot.
We have Chase and BOA..no Wells Fargo. Could someone tell me that fourth bank that has been mentioned as of the big four. I will be taking my initial cash to a trust lawyer, setting up trust, opening a bank account in trust name and cashing in dinar straight into trust. Now this is my thinking, and have not been advised to this proceedure, and cannot afford to go right now to lawyer. Also, I am in Texas and on Randy Koonze list for the shingdig in Austin 3 weeks after RV..and I might wait to do anything except cash a few small bills unntil after that. Hope this helped RRT

That is the smart way to do things.

1alaskan wrote:RRT,

If I remember my maps, you are not far from Houston or Dallas, that could always be an option. Don't forget that some of the dealers might be setting up shop in larger towns/airports also. I do believe after RV, we should have plenty of options.

Do you think the dealers, etc are really trustablr? This is ms sceptic here.

RoseRedTyler wrote:

1alaskan wrote:RRT,

If I remember my maps, you are not far from Houston or Dallas, that could always be an option. Don't forget that some of the dealers might be setting up shop in larger towns/airports also. I do believe after RV, we should have plenty of options.

Do you think the dealers, etc are really trustablr? This is ms sceptic here.

At this point I would rather deal with a Bank. I hope their rates are as good or better than the dealers.

punisher wrote:

RoseRedTyler wrote:

1alaskan wrote:RRT,

If I remember my maps, you are not far from Houston or Dallas, that could always be an option. Don't forget that some of the dealers might be setting up shop in larger towns/airports also. I do believe after RV, we should have plenty of options.

Do you think the dealers, etc are really trustablr? This is ms sceptic here.

At this point I would rather deal with a Bank. I hope their rates are as good or better than the dealers.

Thanks for confirming my thoughts. I think Oakie said you need to do where you could see transactions. I think that was in response to offshore, but it is just as viable here. Sent you a pm.

Punisher,

In Alaska we don't have a lot of options. Only one national bank, Wells, and as of now that is a no go, but I suspect that will change, Also as of now , no De La Rue in the state that we can confirm. So that leaves a flight out to a major city in the lower 48, and there is at least 100+ of us folks with IQD. Not the safest thing to be hearding thru the airport with a truckload of funny looking money. But some of us have made trips carrying IQD and had no problems, YET!

But I will be following the websites and looking at other folks and how they were handled at both banks and dealers. I'm not concerned much about the wires transfers as there are ways to protect yourself there. Confrimation by phone before you leave the site, immeditate transfer from the wired account to another in the bank to stop any chance of reverse wiring, ect.. I think sitting down with your banker is always good so they know what is going on and what to except. Because unless you and your accounts are normally handling large sums, 1mil+, I would give them a heads up. We own a couple of business and wire money to overseas and had never had a problem, but then never in the amounts we expect with the RV, a zero or two less. But your banker may have other options that work for you that we may have not even thought about.

I think we have to leave all of our options open till this all unfolds.

JMHO
Now is good
Rantings frrom north of sixty five this week

Thank you everyone for your straight forward suggestions.

I have many different denominations of notes, so I think I will start with something small and test the waters and go with my gut instincts

I don't know if anyone here can help with this question. But living in Australia I can not seem to find anywhere that states tax needs to be paid on currency conversion. Is there anyone from Oz here that knows about our tax liabilities?

Thanks again for your help.... Great community we have here