WSOMN's Snake on How to Approach Your Exchange Process 4/30/17

Well kinda it is about of a page and a half of some really basic instructions on how to approach your exchange process and attempt to get the bank rep to want to allow a higher than international rate because he recognizes your value to him and his bank

Ok will open up the doc and start to post please understand everyone needs to use this as an outline and put their own circumstances and words into their interview process, Have read and listened to various guru’s talk about above market rates for certain currencies and how to qualify for such a rate one must have extremely detailed illustrations demonstrating how many jobs and what life enrichment will be permitted should you be granted a high exchange rate.


While that all sounds reasonable and provides a learning scale to allow one to develop a feel good scenario and waste huge amounts of time preparing something to present to a banker trained in how best to exchange currency and keep as much as humanely possible in the banks control.


For anyone working with a professional banker, whether they work for B of A, or Chase, or Mellon, or Wells Fargo, they all have one very important characteristic in common and that is there particular bank is the very best at whatever they do and no other competitive bank can compare.


At the initial meeting the exchange person is going to attempt to grasp how much financial acumen you possess and in a very short period determine were you to be given X value to exchange, just how much of that amount would the bank ultimately have control over,


Should it appear that you plan on taking the majority of whatever amount is added to your account and immediately spending it on personal items to improve you present lifestyle versus having the funds placed under management in control of xyz bank you can expect the lowest legally permitted exchange rate.


On the other hand if you appear before this exchange banker with the appearance of being one wishing for a long term professional business relationship, and display a willingness to depend on the professional due diligence and investment expertise of xyz bank you have begun the process of a higher rate of exchange.


Now, how best to allow this unknown banker the opportunity of sizing you up but more importantly what future value you and your business will provide to his/her bank, and how better to improve his/her position with said bank than to have introduced a sizeable amount of investable dollars to his bank, his bank’s trust dept, and to the earning fees thru commissions and bonuses.


Ask pointed questions and then wait for an acceptable answer: Q~1: Are you a married person, wife and children? Q~2: I suppose being a responsible husband/spouse with children you can readily understand the importance of your family’s financial security?


Q~3: Realizing that I know some things about markets, investments, and planning I must admit to not having as much knowledge as I would need and in listening to the various information outlets have been advised just as soon as I have my funds to go out and hire professional advisors, but since the initial account will be with your bank, do you or others provide this type counseling within the bank?


Q~4: Are your fees comparable with these other suggested advisors, my reason for asking is I would like to have confidence in one advisor over many simply to be able to rely on one person to be in a position to help me determine my best course of action?




Q~5: While at this time we neither of us know much about the other, but first impressions are you would be one I think I could work with and trust, as someone who has followed this investment for many years I have heard a number of different currency values expressed, I hope you will not be offended should your exchange amount be less than I expect, you won’t get your feelings hurt will you?


Statement: 1). Just to provide a brief over view it is my intention to place at investment sufficient funds to guarantee that me and my immediate family will never need worry about money or security ever again.


2). It is my further intention to take sufficient funds and create a perpetual foundation to provide for the many social inadequacies that exist within our city, our state, and our country. While I know it will never compare to the Ford Foundation, all the benefits will come from earnings only keeping the principal intact so the foundation will never end up broke.



3). It is a further goal to rely on professional advice and expertise but to also bring my children along from an educational point of view that they might succeed me when I am no longer in a position to serve as the founder, that they along with you can carry on with the orderly distribution of benefits.


What you are hoping to accomplish with this is to demonstrate what a value the banker will be and how much you wish to select one professional that when everything else is lacking you have one you can truly turn to and trust. You don’t ever have to be secure in that fact you are simply trying to convince him to obtain a higher than market rate as the more he gives you the more his bank has to work with.




Further understand once you have been funded none of this hype is contractual and should a better deal come along shame on you for not pursuing it as it would be a bad fiduciary duty on your part to not have the best interests of your family and foundation at the forefront. Hope you enjoyed. Snake

Snake

One thing is for sure bankers are competative by their very nature and if they think their competitor is going to benefit they will generally come around to your way of thinking

Snake is a very valued member of WSOMN, having experience in the financial world.  He is extremely helpful for those with monetary questions.  He is very astute.

What I question is how this man with a great financial background can believe in the dinar, dong and zim fiasco.

Common sense has flown out the window and replaced with greed.