Happy Tuesday Dinarians,
This person’s Mailbag question is short – but it elicited a rather long reply by me. Since I know there are many TNT Dinar Forum Members (and members of other Hack Guru’s boards) I felt I should publish my response, advice and option so everyone can benefit.
Here is the person’s question (name removed to preserve privacy):
Name or Handle: [Removed for Privacy]
Email (not required – only if you want me to reply to your question): [Removed for Privacy]@yahoo.com
Comment (please see note above): I was directed to you from the TNT DINAR forum.
I have a newbie question: do you know whether banks in [Removed for Privacy] will offer the contract rate?
My guess was “NO”, but my knowledge is limited.
Many thanks for the help.
[Removed for Privacy]
Time: June 23, 2014 at 10:19 pm
Here is my response, advice and opinions to that person:
Hello [Removed for Privacy],
Thanks for your question.
The only way to know for sure, is wait for the “RV” or as I prefer to say, the significant increase in value of the IQD, then call your local Bank’s Currency Exchange Department and see if they are now handling the IQD.
I would expect that in reality, large Banks like BofA, Wells Fargo, CHASE, etc. will want to start handling the IQD AFTER (note, I said AFTER) the Iraqi Dinar SIGNIFICANTLY increases in value.
You should also be able to go to your local International Airport and find a Currency Exchange Service where you would be able to facilitate an exchange of your IQD to what ever currency you wish.
I also caution you to not try to exchange all of your IQD at the same time. Keep most of your IQD in a safe place, and only exchange a small portion. There will be no rush – despite what Hack Gurus like Tony TNT, Okie, PTR, Blaino, etc will try to tell you. Also, I would never NEVER NEVER NEVER trust one of those crack-pot Hacks with one of their “services” – In my opinion you are setting yourself up to be ripped off.
Sure, the Hack Gurus will promise “better” rates, etc. but trust me, no HONEST service will be giving out a better rate than what will be published on the Central Bank of Iraq’s website (always go to: http://www.CBI.iq for current IQD rates & exchange info). And don’t believe the Hack Gurus BULLSHIT when they promise better “group rates” – there is no such thing, it is just another way to con you out of your money!
Those are my opinions, and I’m sticking by them. Use your own local banks and local services. Don’t “cash out” all of your IQD at any one place or time. And my friend, you should be just fine, and have a happy future! 🙂
~ Mr. IQD
I hope this post has also helped you – feel free to leave your comments and advice below:
~ Mr. IQD