Thread: Cashing in, please read.

Originally Posted by Adster

When the time is right soon this info is worth bearing in mind.

1. Hear of r/v through forum.
2. Check rate officially on CBI's site, Central Bank Of Iraq
3. Pick yourself up off floor.
4. Call in sick with the intention of 'never' going back..........
5. Phone around banks to find out who is exchanging, what they charge to exchange, and whether they will check your dinars there and then, (most main branches can verify there and then).
6. Take to bank, preferably with large husband, boyfriend, brother etc for security.
7. Ask for a large Cuban cigar whilst you put your feet on the branch manager's desk as you discuss what THEY will do for you. When he/she offers you coffee/tea ask for a large whiskey.
8. Pick manager up off floor when you get out your 'wad' of notes.
9. At a r/v around 1:1, exchange in what you feel comfortable with. Yes this will go back to their old rate of $3.22 in time. Personally, I'd cash in half.....
10. Leave bank, with cheque or confirmation of wire to your own bank account.
11. Head to nearest bar to get 'wasted'.
12. Hold a big party, start looking round for a nicer car/house.
13. Arrange r/v party with your fellow dinar holders from Rolclub.
14. Pay taxes at some point!

Otherwise skip point 5 to 10 and head to an airport and cash in some there and return whenever you need too, then continue to point 11 as above.......

Hope this is clear!!

Adster.

VERY GOOD!!!!! GREAT POST....GOOD LUCK TO ALL WHO OWN DINARS!!

When cashing in the IQD it apparently has to be sent away to be verified, taking it out of your possession. The best way to CYA is to copy all the serial numbers, amounts and denominations down on a Bill of Lading and have the bank teller/manager sign for their receipt, providing their printed name, signature and ID number. Keep a copy for your records.
If any are MIA, you're covered. Takes a little extra time but well worth it in the end.

Originally Posted by Lunar

When cashing in the IQD it apparently has to be sent away to be verified, taking it out of your possession. The best way to CYA is to copy all the serial numbers, amounts and denominations down on a Bill of Lading and have the bank teller/manager sign for their receipt, providing their printed name, signature and ID number. Keep a copy for your records.
If any are MIA, you're covered. Takes a little extra time but well worth it in the end.

Good idea Lunar. Someone else in another forum suggested scanning or photographing the notes as well.

Originally Posted by Lunar

When cashing in the IQD it apparently has to be sent away to be verified, taking it out of your possession. The best way to CYA is to copy all the serial numbers, amounts and denominations down on a Bill of Lading and have the bank teller/manager sign for their receipt, providing their printed name, signature and ID number. Keep a copy for your records.
If any are MIA, you're covered. Takes a little extra time but well worth it in the end.

Thanks for the info, I would be leary of letting anyone take it.

Anything to prove ownership is wise but the advantage is a Bill of Lading is a binding agreement. It is completed at the time of the transaction and includes the pertinent information and signatures.
BoL can be purchased under 5$ at most Staples in packs of 10 and come in 3 or 4 part copies.
I don't believe I would trust many people at this point

Originally Posted by Vipor

Good idea Lunar. Someone else in another forum suggested scanning or photographing the notes as well.

That's a good idea as well but the BoL is a shipping document and CYA legally. Personally I would prefer I went along with them on the ride but it's another option....lol

Originally Posted by Elfwizard

Thanks for the info, I would be leary of letting anyone take it.

I hear what you're saying but for lack of a better choice the BoL offers protection.
I imagine a lot of people will be reluctant to let it go so maybe the banks will offer an alternative suggestion if we whine enough...lol

Now if I'm not mistaken the banks we use to cash in our dinar will have to give us a receipt. We can always request that they post our serial numbers on that receipt. But if you aren't comfortable with all that like some others have said you can make copies of each one.

Originally Posted by Dinar Madness

Now if I'm not mistaken the banks we use to cash in our dinar will have to give us a receipt. We can always request that they post our serial numbers on that receipt. But if you aren't comfortable with all that like some others have said you can make copies of each one.

Banks will issue a receipt but most don't list serial numbers on the receipts, just denominations, amounts and totals.
The BoL is a shipping document and provides space for itemized listing (for serial numbers, amounts, etc) and it can be completed before you go into the bank.
This way you have protection against theft and the itemized serial numbers will discourage anyone from trying to switch your IQD for counterfeit bills.

Let's say it will be announced on Sunday, and I believe it will, how quickly do we think it will start to rise in value? Within hours, days, weeks, months? I will probably sit on it for at least a week before cashing in more that 5K. That is if I can contain myself.