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Understanding a few Things

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Understanding a few Things Empty Understanding a few Things

Post by ski Wed Apr 25, 2012 5:31 am

Alcon,

First I would like to say thanks to all that puts out the information. I have a few questions for the dinar gurus.. I have a had a little time here lately because of all the weather hinders some mission.. ( deployed) nuff said on that. My questions are: Because my wide will be doing all the banking.. Just trying to help her from here and make it easy for her.

1) When the Rv happens how does this rate thing work? Say (EXAMPLE) 3.50 usd to IQD? Does it mean for every dinar I have I will get 3.50 usd for it?

2) Why do I need a non-interest account? I have 4 different accounts ( savings and checking) at one bank. And One account at another bank? Now when I cash in, can't I spread it out over all the accounts and still be insured for the 250K FDIC each account?

3) If the bank takes the Dinar for exchange cash in . Well the same bank take the Dong also?

I know these questions have been answered somewhere, but have to have the time to look... sorry if it;s a repeat, just trying to find out for the wife and educate her so she will know what to do when the time comes.

Thank you for your time,

Ski:D

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Understanding a few Things Empty Re: Understanding a few Things

Post by Cardiac99 Wed Apr 25, 2012 7:13 am

@ski wrote:Alcon,

First I would like to say thanks to all that puts out the information. I have a few questions for the dinar gurus.. I have a had a little time here lately because of all the weather hinders some mission.. ( deployed) nuff said on that. My questions are: Because my wide will be doing all the banking.. Just trying to help her from here and make it easy for her.

1) When the Rv happens how does this rate thing work? Say (EXAMPLE) 3.50 usd to IQD? Does it mean for every dinar I have I will get 3.50 usd for it?

That's right.

2) Why do I need a non-interest account? I have 4 different accounts ( savings and checking) at one bank. And One account at another bank? Now when I cash in, can't I spread it out over all the accounts and still be insured for the 250K FDIC each account?

FDIC insures interest bearing accounts to $250,000. Non-interest bearing accounts are insured for the amount of deposit. Since you already have several accounts open, I see no reason not to use them, just watch the maximums in each account. Be aware that they will draw interest each month which may put you over the $250K mark. Also, as it stands right now, at the end of this year, the Dodd-Frank Act expires and your coverage drops back to either $100K or $125K, I don't remember which. I have heard talk of the PTB extending that into next year, though.

3) If the bank takes the Dinar for exchange cash in . Well the same bank take the Dong also?


Maybe, depends on the bank. That also works in reverse. I have 3 banks and none of them deal in Dinar, but they will all take the VND.


I know these questions have been answered somewhere, but have to have the time to look... sorry if it;s a repeat, just trying to find out for the wife and educate her so she will know what to do when the time comes.

Thank you for your time,

Ski:D

The answers that I gave are subject to correction. I don't know everything, nor do I claim to know everything. I'm just trying to help.
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Post by ski Wed Apr 25, 2012 9:22 am

Thankyou you very much.. It has helped a great deal...Very Happy

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