List Of Topics for bank appointment --- Currency Exchange

FRIENDS:

When instructions come through for making your appointments at a bank for conversion of Dinar or Dong, you might print or review the list of topics below. They might guide you at the meeting. 

While you cannot fight or demand banking favors, you should consider polite and genial ways to deal with each the topics below if they interest you. You will have a long term relationship with your banker so a friendly relationship must be maintained.

When making your appointment, you might ask "Will you be validating my foreign currency visibly in my presence, or do you send the currency to another location for verification?

Your foreign currencies have many methods of preventing counterfeiting - clever things embedded in the paper, ink, and threads.  Strangely, when you turn the Notes in for verification, the only item checked is the black light feature that causes certain places on the Notes to glow visibly.  THAT'S ALL THAT IS CHECKED AT TURN-IN TIME. 

Only one feature is checked even by the costly DeLaRue machines.  They merely count the notes and perform the black-light test, nothing else.  Therefore, some banks and dealers may have a mere $20 black light at the verification desk allowing the banker to look at each Note visually.  THIS IS ACCEPTABLE provided the banker counts them accurately.

Be aware that if your Notes are sent to another location for verification, if several of your Notes do not pass the test, this failure will be reported back to you but the Notes cannot be returned to you because banks aren't allowed to distribute counterfeit money.  It will be your loss.  That's why your notes need to be verified in a situation where you can watch the process yourself.  Upon finding a counterfeit Note, you will need to get the serial number from it, or better get a scan or copy of the Note and then call the vendor that sent you the Note and hope to get a refund.

Some people buy a $5 black light bulb of their own, enabling them to test their bills themselves before going to a bank.  You can learn which parts of the Notes should light up under black light by going to http://DinarTrade.com  or other trader sites where they show the notes and pointers to the security areas on your Notes.  Or, look in the envelope containing your Notes because some vendors inclued the security information along with the Notes you purchased.

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Consider printing the information below as a check-list that may be useful as talking points. This information has circulated before, perhaps prepared first by [BWM].

TAKE NOTE OF THE OPTIONS FOR EXTRA INSURANCE ON YOUR BANK ACCOUNTS
- PAY EXTRA TO GET IT.    SEE COLORED LINES BELOW.

Several have asked for this - seems as if it might be important soon - let's hope this ride is over!

This past summer BWM had a classroom on perks from the banks --- I studied it and this is what I have for my talking points - thought you might like some ideas.

What I want from bank or brokerage house for me to deposit money in their bank/brokerage house: SUMMARY ~ Talking Points Best rate for IQD/VND No fees ~ no fee to deposit/transfer money No Broker fees Free Certified, Notarized, Courier Services Private Insurance to cover deposits  (YES - see explanation bellow) Wealth Manager/Investment Banker Bank supplied Attorney ~ need immediately to revise trusts/set up trusts/LLC Private transactions representation ~            Someone to assist in buying a house/car/anything. 100% funding availability Credit Line available Group Health Insurance ~ to cover the signers and families of depositors Set up several accounts ~~~~~~~~ [BWM] first point, your rate. We really won't know about rates until the codes come out and the spreads for banking forex are set for everyday trading. Be selective. If you are a member of several "groups" see if there is a difference at all in the amount the bank is offering you. The whole point of the groups was to help insure that the small holder as well as the large holder of dinar could get the best available rate. Some items that will be listed after this may depend on the amount of your deposit in the bank. Unlimited credit/debit card. A dangerous thing for some. I know there are some ppl who are in a bind because of credit, money flows quicker than water. Remember, a couple of things about the "unlimited" portion of this. First, it's only UNLIMITED by the amount of money you have... it will end if you spend it that way. And Second, what type of security/safety risk are you putting yourself in carrying around a card with an unlimited balance in case of theft. Make sure you put all the security features in place for your card including picture id required and such. Make sure that you treat this carefully when using this.... NO fees. if you deposit more than 250,000 dollars in a bank, in most instances, the bank will treat you as a VIP... some may require 1 Million USD for certain services and packages... but since you are going in with this, regardless of your amount this should be the first thing they offer you as it is the easiest perk to give. NO broker fees. If you are doing investing and other types of "trading" transactions you want to eliminate ALL fees. This may require a certain amount of deposit but again, ASK for it... you will receive valuable information from your private banker in regards to opportunities for investment. You don't want to pay for that information or transaction. PRIVATE BANKER. yes, you do deserve special treatment, after all, most of us will not be used to the opportunities that will lie ahead for us. Having a private banker will accomplish a number of things for you. It will give you immediate access to your accounts, as well as, options that you have never known or asked about. It will be there job to assist you in maximizing your account. MAKE SURE THEY ARE WORKING FOR YOU. Don't get caught up in an investment strategy simply because they suggest it. LEARN. this way YOU are working your money, not your money working for them. Differences in this vs. a wealth manager? some banks will operate under the same title but a wealth manager is purely set up to help you invest and grow your money. Make sure you are getting what you need from this position, they are there to answer your questions and help you succeed. Certified, Notarized, Courier Services. These are little things that will matter to you when you consider it. At the car dealer buying a car and just closed the deal, call the bank and arrange to have a certified check couriered over to finish the transaction. Need some papers notarized and couriered to a client to help finalize a transaction. All of these are little things but will save you the security concerns of traveling with money or checks. Make sure you get every little thing you can! Private Insurance. A lot has been made of the Dodd-Frank and FDIC concerns for money protection. This has a serious thought process. Consider this, if we all get Lloyd's of London insurance for say 10 million dollars of protection, and one bank goes down with 10 of us in there. so that would be 100 million dollars that Lloyd's would have to pay out. How many of those do you think they could stand? Make sure your money is protected, but make sure your money is diversified. Take all the insurance you can get but don't depend on that to be your saving grace at the end of the day. Learn to invest, diversify and protect your money. Wealth Manager/Investment Banker. Yes, most of us have never had someone willing to invest our money, mainly because we didn't have the money to invest. Well get ready. And don't be afraid to ASK for assistance and more importantly BE HONEST with your plans. Short, medium and Long term. Explain to the manager exactly what you want. Do you want to be able to vacation three times a year? Do you want to set up businesses for your kids? Do you want to be retired and have a draw of money into your account monthly? These are things you need to know for YOURSELF. They will make suggestions but make sure you try to understand the suggestions and they FIT INTO YOUR PLANS. If not, tell them no and what you want to accomplish. They work for YOU! Bank supplied Attorney. Not only will a tax attorney be helpful in setting up your trusts, LLC and such but they can assist you in estate planning and other important issues that many have left on the back burner due to costs. This will be an invaluable asset as you will find that CPA's may have limited information in dealing with certain aspects of the IRS. The better your team, the better off you'll be in the long run. Short Term/High Yield Interest Rates. Yes, you want to make as much money as possible in the shortest amount of time... why wouldn't you? so ask for it. You want the highest available interest rates for the shortest terms. Make sure you implement again a plan for short, medium and long term goals Private transactions representation. Your buying a house and perhaps paying cash. You need someone to assist with those transactions. Make sure your bank is willing to help walk you through private transactions. It will help protect them and help protect you. 100% funding availability. you want your money to be liquid... make sure that your bank will have complete funding availability of your money at all times. This will insure the liquidity of your funds during the deposit.. Credit Line. This is a hard one for me just because I'm not a big credit fan but it IS/will be a necessary evil once you reach a certain income bracket (so I've been told). You would like the ability to have a 50% credit line available to you for your deposits if possible. Some banks will negotiate this up or down but 50 is prolly your best bet IF they will come that high. Group Health Insurance. This is something that most will not realize can be available to you. Check with your bank but yes, you can get group health insurance through a number of banks to cover the signers and families of depositors. Again, this is an AS AVAILABLE item but make sure to at least ask... in conclusion, make sure that you ask for the highest quality services available with the most protection that the bank can offer. REMEMBER, THIS TRANSACTION IS FOR YOUR MONEY NOT THEIRS. THEY GET TO PLAY WITH IT BUT AT THE END OF THE DAY ARE RESPONSIBLE FOR THE AMOUNT YOU HAVE ON DEPOSIT. ASK FOR THE MOON, THE TOASTER AND THE FREE CHECKS. HECK ASK FOR THE MANAGER'S CHAIR IF YOU LIKE IT.. AND GET IT DELIVERED. THE POINT IS THAT THERE ARE MANY THINGS AVAILABLE THAT YOU MIGHT NOT KNOW ABOUT.