have gleaned information regarding the exchange procedures and put the information into the following document to give to people I have shared information with or gifted Dinar to. This document may be helpful to you, so I want to share it with you here.
Currency Exchange Process Information
If you have more than 25,000 IQN to exchange, you will need to call and make an appointment to exchange your currency. If you have less, you can go directly to your bank without an appointment.
Important preparations to be made before making your first bank appointment:
1. Open a new, secure e-mail account (www.hushmail.com; www.zixcorp.com or others on the Internet) that will only be used for your new IQN bank account(s).
2. Purchase a new laptop, iPad or other computer device that you will only use for your new online banking account. These two procedures are for security purposes for those who will have very large (US1M or more) accounts after the exchange.
3. Use the 800 numbers below to call a bank and set up an appointment to exchange your IQN. You may also use another foreign exchange bank to make your currency exchange if you wish, but you need to call them and make an appointment to do so.
The big 5 banks that are set up to do IQN currency exchanges and their 800# numbers for appointments are listed below:
Bank 800# Exchange Rate
Bank of America
Note: The Bank of International Settlements, which controls all fiat banking systems world-wide, including the big banks listed above, is on the verge of bankruptcy. They are heavily involved in derivatives. It is wise not to deal with banks that have derivatives and hedge funds. Look for institutions that have an AAA rating. Consider banks that hold multi-currency accounts. You may wish to exchange your currency at one of these five banks to begin with, but if you have very large accounts, you may want to research safer banks to move your money to. You can research the safety of banks on the Internet.
Tips on What to Say and Do at the Bank
1. When you call the 800#, they will ask for your name (give first initial and last name), for your e-mail address (give them your "new" e-mail address), the amount you have to exchange, and your zip code so they know where to direct you to the closest bank for your exchange.
2. Go to your appointment. Make sure you are prepared, calm and professional. This is a business transaction.
3. Take your Dinar (with receipt, certificate of authenticity, and two forms of identification) to your bank and say, “I'm here to do a CURRENCY EXCHANGE for my IQN.” The IQN is the new Iraqi Dinar that is gold-backed and will have a higher exchange rate than the IQD.
4. The bank will ask you for your ID. You will need two forms of ID to open new accounts.
5. The bank will inform you about the non-disclosure agreement (NDA), and you will have to sign it before you can exchange your IQN. The NDA will be a long document that you will need to read very carefully when you get home. This is a classified exchange and you will be prohibited from talking about it to anyone after you sign the NDA. This is very serious. If you break the agreement, your bank account can be seized.
6. The bank will take your information to fill out their electronic FENCIN form to send to the IRS. We are not yet sure how this exchange will be taxed. You will need to consult a tax attorney to resolve your tax debt.
7. Open a new bank account in which to deposit your IQN. Deposit your IQN money into the new account. Some say this IQN account is insured by the US Treasury (UST) for IQN (Dinar) and backed by gold. Ask your banker to confirm this. Keep your IQN dollars in an account separate from all your other US$ accounts.
Note: If you have more than one currency to exchange, you need to deposit each currency into its own separate account.
Tell the Banker you don't want to pay any bank or currency exchange "spread fee” in making this deposit. If that is not available this bank, you will go to a bank manager and bank who will do this for you.
Note: Every single Branch Manager is able to remove the spread fees up until the UST (Treasury) spread fees.
Since your first bank appointment will be short (about 20 minutes), there will only be enough time to deposit your IQN in your new bank account. Make it clear to the bank that you do not want them to touch your money in any way (no trading, etc.) until you meet with the wealth manager.
8. Make a future appointment to meet with the bank’s personal wealth manager. At that meeting you can have the bank prepare cashier’s checks to use to pay off your debts or to make personal purchases with. Prepare a list of your debts. List them by name, account numbers and the amount you want the cashier’s checks made out for. Be sure to include some cashier’s checks made out to YOU so that you can:
1. Cash one check in the amount of just under $10k to take home with you after your appointment (if you wish).
2. Make deposits into your other banks that you will be using.
9. Ask your banker to provide you with some CCC Certificates— Clean, Clear Funds of Non-Criminal Origin Certificates signed by the bank. If you are buying a house, car or otherwise large purchase, you can ask for a letter of "proof of funds" to give to your realtor, car dealership, etc.
10. At this second appointment, you may want to divide your IQN account into three new accounts as follows: 50% into a tax escrow account for federal, state, and local taxes; 25% for investments for capital growth; and 25% working capital for immediate use. You can set up a minor checking account with a debit card for petty expenditures. Do an intra-bank transfer into these new accounts and close your initial exchange account.
All you will do at the second appointment is get the monies working safely and conservatively while your financial plan is formulated.
11. Before you leave the bank, ask for a printout of all of that day’s transactions with regard to all the accounts you have opened, including deposits, debits, and current balances.
12. Set up another appointment with the bank wealth manager or with your personal financial advisor for investment advice.
1. Your first appointment is to get the exchange done as expeditiously as possible.
2. Your second appointment is a fact-finding and information-gathering session with the wealth manager.
3. You will now have the money to get professional counsel regarding taxes, security issues, investments, and ways to protect your money. Be sure to get expert advice!
Never do anything on the Internet that connects to your BIG accounts. Keep your big accounts and black card (debit card for large accounts) hidden. Use your new laptop and secure e-mail for all transactions.
Get the exchange done and chill. If anyone rushes you, flags should go up. Wealthy people learn how to say “NO” quickly and “YES” slowly, after much contemplation.
Disclaimer: This information was compiled from Tony’s conference calls and information gathered from www.TNTdinar.activeboard.com. There is no guarantee that it is totally accurate. Do your own research.