Thread: Good example of a Historic Reval

Originally Posted by Sudden Impact

I FOR ONE WOULD CERTAINLY LIKE TO SEE MORE FACTUAL INFORMATION that proves we will not have some challenges when we go to exchange our dinar at reval time. Who has the FACTS that this will be as simple a transaction as walking into the bank to buy them. No speculation here, just the facts please.

there are lots of people on these forums that have bought and sold iraqi dinar at chase bank, walked in with dinar, walked out with cash..

Originally Posted by stik

I'm not sure I'm remembering this correctly...but didn't Ali say that he'd buy back dinars at an advantageous rate?

The postcard that I received from Ali about a week ago said---Please remember DinarTRADE when you are ready to cash in your Dinars.....

Originally Posted by RfxLady

My banker at Chase Bank told me that I would not have any trouble exchanging (cashing in) my dinars now or after the reval. She told me that I could walk out with cash the same day or have it deposited to my account. for reval.

My Chase Bank here in Ohio told me the same thing, said all I would have to do is walk into the bank for the exchange... I opened up an account with them last week...

all i have to say is whichever bank exchanges my dinar, into USD/Euros (mostly Euros) gets my account :)

Cashing in will be easy. You will never get the CBI rate. Forget what the bank tells you about flat fees; there will be a spread between what the CBI rate is and the rate the bank will give you. I just accept this as the cost of doing business and bought my dinar based on what I'd like to have after the spread and taxes.

In December Chase had a 16% difference in their buy/sell rates. So yes, you could walk into Chase with dinar and walk out with cash, however you'll be $160,000.00 lighter for every million you cash in. Suddenly 2% sounds downright generous!

I tried to open a new thread but cound'nt do so.

Since CBI has a cap on how much dinars are allowed to go out side Iraq, In my opinion(I am not economic/currency expert) we may encounter some problems when we cash dinars after revals. Reason being it was not legal to aquire big amounts in the first place. Meaning if such cap rule exists it should have some implications on our investments. Any one here who has traded currency on the same scale as our dinars and made some fat bucks to put more houghts on this? I hope I am wrong.
Thanks.
Nawal

Originally Posted by victory1

I tried to open a new thread but cound'nt do so.

Since CBI has a cap on how much dinars are allowed to go out side Iraq, In my opinion(I am not economic/currency expert) we may encounter some problems when we cash dinars after revals. Reason being it was not legal to aquire big amounts in the first place. Meaning if such cap rule exists it should have some implications on our investments. Any one here who has traded currency on the same scale as our dinars and made some fat bucks to put more houghts on this? I hope I am wrong.
Thanks.
Nawal

I bought millions of dinars from Chase. Banks are not in the habit of conducting illegal transactions. There is also a Presidential declaration stating that investing in Iraqi currency is legal. You don't have to hope you're wrong... fortunately you are.

Ali @ Dinar Trade said he would only take 2% for cashing in with him. My family in Arizona are flying in here to Nashville to cash in with him. It will be cheaper than at Chase. I will call later today and ask him about a "Spread" and let you all know.

Originally Posted by draft138

Ali @ Dinar Trade said he would only take 2% for cashing in with him. My family in Arizona are flying in here to Nashville to cash in with him. It will be cheaper than at Chase. I will call later today and ask him about a "Spread" and let you all know.

This is true. He has told me on several occasions that he will cash in at that days posted CBI rate minus his 2%.

Originally Posted by draft138

Ali @ Dinar Trade said he would only take 2% for cashing in with him. My family in Arizona are flying in here to Nashville to cash in with him. It will be cheaper than at Chase. I will call later today and ask him about a "Spread" and let you all know.

What fee is your Chase charging. Mine said $5 is no account with them, no fee if account with them.