If You Have Reserves....

Wow.. I thought Sterling was better than that. I will definitely buy my dinar at one of the other dealers.

Thanks for the heads up.

It's not that Db AKA Sterling is operating outside the legal parameters, they are permitted to offer such policies at their disclosure.
It is about people that may have been investing under the assumption that the earlier policy is still valid when it is not.
To me, the idea of a promise to "work with me" holds NO merit whatsoever!

Just be prepared and able to pay off any reserves you may have with funds you ALREADY posses!

OR...look into Dinar Inc's True Layaway plan if you have not already bought reserves and are thinking about it.

Catherine wrote:OR...look into Dinar Inc's True Layaway plan if you have not already bought reserves and are thinking about it.

Yes, it is imperative that peeps be aware of all options and the "fine print" associated with them!

SpecialAgentGibbs wrote:It's not that Db AKA Sterling is operating outside the legal parameters, they are permitted to offer such policies at their disclosure.
It is about people that may have been investing under the assumption that the earlier policy is still valid when it is not.
To me, the idea of a promise to "work with me" holds NO merit whatsoever!

Just be prepared and able to pay off any reserves you may have with funds you ALREADY posses!

I agree. It's unfair to change the rules after the fact.

Dinar Banker/Sterling, are you listening ??? Please keep your word. We acted on good faith, I hope you will do the same. Thank you.

IMHO, stop buying reserves, only buy dinar as you can

Katieperryfan wrote:IMHO, stop buying reserves, only buy dinar as you can

Wise words, indeed... 8) :cheers: 8)

Katieperryfan wrote:IMHO, stop buying reserves, only buy dinar as you can

I personally have dinar in possession but I do realize that some can only afford to do reserves in order to have the amount they desire.
I do not support or denounce anyone's choice to do reserves, it is their choice.
I do however intend to provide what info I can to help people stay educated.

I tried a few reserves last year. Lost them of course. The way I look at them is ..Not again. God gave me exactly what he had planned for me, those dinar I now hold. That was the extent of the money I could afford to let go of without spending what I needed to carry on. So far no more "extra" cash has been avialed to me so be it!

I buy a little here & there as funds permit,the longer this goes, the more I have

SpecialAgentGibbs......with you on that one, but at the same time , for those that have been here for a while, the owner and son of the founder of Dinar Banker has been on OOM more than a few times and has always presented himself as more than above any question of trying to rip someone off. As we all know the rules change on a regular basis with this endeavor be it Dinar banker or other bigger more important ententes , so .... good info.... but what if they really can't give you a complete answer because they fully intend to work with each individual as it happens. Thanks, and as the saying goes

TRUST but VERIFY

I never said nor implied dishonesty.
There was someone in the OOM chat that said to be from DB and was telling people there that the old, discontinued policy was valid.
Clearly in contradiction to what DB's support people are saying.

I would suggest to anyone that has reserves but not the funds to pay them off in case of RV, to buy a single 10,000 note from eBay or someone who deals that sells single notes. I would make sure I had a back up plan just in case. One 25000 note typically cost 116 and up. Just my opinion. Hope this helps anyone out.

Oh please sell me a time share" Wow old saying a bird in hand is worth two in the bush. Hay it s just like people buying with credit, it can bite you if your not careful. Do you understand that prow bee.

SpecialAgentGibbs, I did not mean that you had, and I could be wrong in my prospective of the event but ...... Frank was in the chat you are referencing and he was trying to answer a specific question that there may not be a set policy for at this time. It could be on a one to one basis, Let me try to explain, but first, Ty is the owner and he was not in the chat room, Frank spoke for Dinar Banker and has in the past also, The old discontinued policy did change, I for one also called for a different change and it was taken care of, but we are discussing the policy that if you have a layaway that is still in effect when the IQD revalues can you just tell them to take it out of that layaway and give you the remainder of the funds, and no you can't but yes that was the way it used to be. Will they make acceptations,could be, depends, trust but verify.

Dougster1111, Great Reply !!!!

Kingoswby, Have one already,, My family has been enjoying it for many years now,( I think seventeen ) it is in Orlando, and my wife and daughter and daughter inlaw and the grandbabies are there as we speak, shopping trip, much cheaper than a class hotel for the group. SO WHAT IS YOUR POINT?

I copied and saved into an email. Here is part of the Chat session with Sterling APRIL 6, 2012 : Sterling Currency Group encourages the responsible use of layaway orders and discourages placement of layaway orders without a plan to pay off the balance due within 30 days and take delivery of the dinar. To pay your Layaway order off, you may complete the 90% balance in US dollars via wire or certified funds by mail. You may also exchange Iraqi dinar that you have in hand, and use the proceeds of the exchange to pay off an order.

To complete your 90% balance by sending in dinar, you will need to go to "Exchange Dinar" on our website and submit an exchange order for the dinar that you wish to send in to complete payment. If the value of the exchange exceeds the balance owed on your order then you can go ahead and submit the order. Once we approve your original purchase documentation for the dinar you are sending in, you can send out the dinar to us. Once processed it will be exchanged, and the U.S. dollars from that exchange will be applied to the order('s) you wish to pay off. Anything left over can be given to you in the form of a company check/cashier's check or we can wire transfer it in to your bank account.

If in the event that there is a change in the rate on the 30th day of your Layaway order and you do not have the funds to complete the 90% payment then you can create an "Exchange Dinar" order and reference the order that you cannot complete payment on. If this is not done before midnight eastern time then the order would be lost, if you do this before midnight then we will honor it and work with you to come up with a plan to complete payment on the order. In regards to what that plan would be, that is not a discussion we will have unless that situation arises.

Unfortunately, it would appear as thougj Dinar Banker is frequently changing the rules.

I don't know if this is done by design for a nefarious purpose or, done to make completing transactions easier.

I am personally going to observing their activity, as I have doubts about the company, that I didn't have until recently

That is partly due to the fact that you get different explantions to questions, depending on whom you speak to.

There appears to be no consistency

SpecialAgentGibbs wrote:If you have reserves, you might want to pay attention to this...

While in the chat recently, I noticed a member that claims to be a representative from Dinar Banker, answering questions from other members.
I was curious about DB's policy (which was on their site but, has since been removed) about the option of paying off the balance owed on a reserve, using funds derived from the reserve itself in the event of a revaluation.
When I posed this question to said representative in the chat, his reply was "yes, that is the policy".
Another member spoke up and said that they had just talked to DB over the phone and was advised that this payoff option was no longer available.
I decided to contact DB myself and attempt to clarify this discrepancy.
I chose the DB online chat method of contact so that I could have a transcript of this conversation as verifiable proof of what was said and not just a "he said, she said" phone call.

When the question was presented to the DB customer support rep, the aqnswer I received was both obscure and unsettling, here is the actual transcript of that chat conversation:

question about paying balance due on reserves
Valerie has joined the chat.
Valerie (04:58:44) : Hello karl
**** (04:58:47) : Hi Valerie
**** (04:59:30) : when someone has a reserve, in the event of an rv, can one use the rv'd dinar to pay ther balance due?
Valerie (05:00:24) : No If you have dinar you already own, you will be able to use it to pay off existing layaway orders. You will not be able to use the dinar in the order to pay off the balance due
**** (05:00:40) : when did this change?
**** (05:00:52) : it was the policy before
Valerie (05:01:32) : The policy changed 02/01/2012
**** (05:02:26) : there is someone by the name of frank that claims to be from your company, going into chat rooms and saying the opposite of what you just said
**** (05:04:36) : hello???
Valerie (05:05:34) : I am sorry. There appear to be conflicting answers go around
Valerie (05:05:40) : Please hold
**** (05:05:44) : TY
Valerie (05:08:07) : If you have active layaways, we will work with you
**** (05:08:35) : OK, is that in actual policy somewhere on the website?
Valerie (05:10:17) : You may search the website for answers as well
**** (05:10:45) : I did and could not find it, this has many people deeply concerned
Valerie (05:11:14) : If you have active layaways, we will work with you is our policy
**** (05:11:32) : all I'm trying to do is have factual info, not what someone says in a chat room
**** (05:12:05) : if that is the actual policy, where can that be found on your site?
Valerie (05:12:36) : I understand your concern. However, I cannot advise you anymore than that we will work with you
**** (05:13:08) : no disrespect but, if it's not in written policy, it does not hold merit
**** (05:13:26) : this is very discerning
Valerie (05:13:46) : I understand your concern. However, I have no other information to give you.
**** (05:14:34) : so, it is not actual written policy and therefore does not insure our layaway payoff options?
**** (05:15:36) : this is not a professional way for a company to advise it's customers
**** (05:16:02) : word of mouth in a chat does not hold up in court if there is a problem in the future
Valerie (05:16:55) : Sir, this is what I have been advised to tell you.
disconnect

IF YOU HAVE RESERVES AND YOU WERE DEPENDENT UPON USING THE REVALUED CURRENCY AS YOUR METHOD OF PAYING OFF THE BALANCE DUE AT THE TIME OF REVALUE, PLEASE BE AWARE THAT THIS OPTION HAS BEEN REMOVED FROM THEIR PRINTED ONLINE POLICY AND REPLACED WITH A PROMISE THAT THEY WILL "WORK WITH YOU"

We all know how well promises work out when we're talking about large sums of money between 2 parties!

THIS IS NOT AN ATTEMPT TO DISCREDIT ANY CURRENCY DEALER OR THE DINAR INVESTMENT!
THIS IS AN EFFORT TO EDUCATE YOU THE INVESTOR IN THE CASE THAT YOU MAY BE BASING YOUR FUTURE ON MISINFORMATION OR AN OUTDATED POLICY THAT COULD LEAD TO SUBSTANTIAL MONETARY LOSS FOR YOU!