.Currency Exchange Checklist and Tips for Banking Appointment

From Recaps Archives

Note: All items on the checklist may or may not apply to your own individual circumstances…some of the items listed may or may not still be applicable at your exchange apt....ask your banker at the time of your appointment.

Bank appointment for Currency EXCHANGE Instructions/Checklist

Bank Name_________________________________________

Bank 800#__________________________________________

“I am calling to schedule a foreign currency exchange”

My name is___________________________________________

My zip code is__________________

My e-mail address is  (If they ask for it)________________________________

I have________________________ IQN/IQD (Iraqi)currency

I have________________________VNN/VND (Vietnamese)currency

I have________________________1000 notes from2000 of IDN (Indonesian)currency

I have_________100Trillion,________50Trillion,_______20Trillionand_______10Trillion
2008 AA notes of ZWN(Zimbabwe)currency

FILL IN THE BLANKS for EXCHANGE appointment information that you get from the call
center representative:

Your appointment Information:

Date_________________________

TIME_________________________

The Location____________________

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The Day of Your Appointment- Things To Do

1. Make sure you know where you are going. Arrive early so you can “get yourself together, take a deep breath”.

Do not loiter. If you are too early, stay SECURELY in the general area but not in the bank
parking lot! 

2. Remember to get in and get the EXCHANGE done, there a lot of other people behind you in line so be thoughtful of their time as well.

You will have time for questions at your second appointment with your new Private Banker/Wealth Manager.

3. Be discrete, be professional, and be alert and aware of your surroundings.  BREATHE!   Seriously consider hiring security to accompany you to your appointment or bring  a trusted friend.

4. Collect business cards from everyone or take their name and phone numbers as well as the location of their regular branch office.

5. Read and Sign the NDA. If it is simple and states you cannot tell anyone except your spouse, lawyer, or CPA (These are the people that need to know how you came about your money for tax purposes) how you came about all of your new found wealth, sign it and move forward with your exchange.

Be prepared to uphold it!

If you break the terms, you could lose your newfound wealth.

If the NDA is more complex and you  are not comfortable with it, simply let them know you would like to explore your options with another banking institution. They may or may not waive the NDA.  

REMEMBER TO GET A COPY OF THE NDA IF YOU SIGNED IT.

The Day of Your Appointment Things NOT To Do

Do not demand anything while at the bank or act like a lunatic, you will be escorted out.

Remember the Golden Rule “Treat others the way you wish to be Treated”!!!

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Items to Bring to the EXCHANGE Appointment

(Check off the list as you put all items needed together to make sure you remember everything)

“Driver’s License

“Second form of ID (accredit card or passport)

“Your most recent utility bill (Water, power, etc.) to confirm residency in case you have never held an account with the bank you will be exchanging with or for another form of ID

“Power of Attorney Paperwork (If you are exchanging for someone else)

“A pad, pen to take notes, calculator

“Receipts for all currency purchased or gifting letter if  they were a gift in case they are needed (Do not offer them, only do so if they are requested)

“IQN / VNN / IDN / ZWN currency

“Have your TOD designees (Transferable on Death) full legal names, phone numbers, addresses and Social Security Numbers written down that you want listed on your accounts.

You can have multiple TOD designations per account (Wife/Husband, Children, Grandchildren, Nieces/Nephews, etc.)

“Have a list of Cashier’s Checks you will need, if any, along with the exact amounts and who they need to be Payable to

“Decide in advance if you will be requesting cash for “Pocket Money” beforehand and how much.

DO NOT get more than $9,500 unless you would like Uncle Sam to visit you. Also remember the more you take with you, the bigger the target you are for thieves!  BE SMART!!!  Do you have a safe to store Cash In ??

“Know the ceiling rate!!! Make sure you do not get hit with a Spread Fee!  If you do not like the spread fee they are charging simply let them know  (In a Professional manner) you will go to another bank.

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New Account Numbers for each Currency EXCHANGED

( DO NOT EXCHANGE ALL CURRENCIES IN TO ONE ACCOUNT, OPEN SEPARATE ACCOUNTS FOR EACH CURRENCY!!!!)  Note- this may be outdated information…….

Name of Bank Exchanger____________________________________________

Bank____________________________________________

Branch___________________________________________

IQN/IQD Checking Account Number__________________________________________

IQN/IQD Checking Routing Number__________________________________________

IQN/IQD Savings Account Number (Deposit 50% of your Exchange for Taxes just in case and do not touch until Tax Time)_________________________________________

Add TOD (Transferable on Death) Names to Accounts (Checking and Savings)

“Make sure you receive copies of the deposit slips and all account information

“Get Clean and Clear Certificates – at least 10 or more (Documentation that your money is not tied to anything illegal)

“Get starter checks if needed until your checks arrive

“Get ATM card if you want one

“Set up Online Banking if wanted

“Inquire about Extra Insurance for your funds __________

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VNN/VND Checking Account Number__________________________________________

VNN/VND Checking Routing Number__________________________________________

VNN/VND Savings Account Number (Deposit 50% of your Exchange for Taxes just in case and do not touch until Tax Time)_________________________________________

“Add TOD (Transferable on Death) Names to Accounts ( Checking and Savings)

“Make sure you receive copies of the deposit slips and all account information

“Get Clean and Clear Certificates – at least 10 or more (Documentation that your money is not tied to anything illegal)

“Get starter checks if needed until your checks arrive

“Get ATM card if you want one 

“Set up Online Banking if wanted

“Inquire about Extra Insurance for your funds____________

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Zim Checking Account Number__________________________________________

ZIm Checking Routing Number__________________________________________

Zim Savings Account Number (Deposit 50% of your Exchange for Taxes just in case and do not touch until Tax Time)_________________________________________

“Add TOD (Transferable on Death) Names to Accounts ( Checking and Savings)

“Make sure you receive copies of the deposit slips and all account information

“Get Clean and Clear Certificates – at least 10 or more (Documentation that your money is not tied to anything illegal)

“Get starter checks if needed until your checks arrive

“Get ATM card if you want one 

“Set up Online Banking if wanted

“Inquire about Extra Insurance for your funds

(Use the same format for Rupiah and Rial or other currencies if they are also exchangeable at this time)

DID YOU GET A COPY OF YOUR SIGNED NDA?

Set second appointment with a Private Banker or Wealth  Manager  (The bank will guide as to who you need to speak with based on your EXCHANGE/deposit amount

This appointment will be the one in which you discuss all of your options for investment and
your “perks”

Private Banker Name__________________________
 
Telephone Number____________________________

Appointment time______________

Location___________________________

(Dinar Recaps Note: You may also want to have a list of "perks" with you so you know which ones are important to you)

."Financial Advisors and What They Do" Posted by MRiles at TNT

TNT:

MRiles:  Essential Questions for a Financial Advisor

By Wendy Connett  Updated Jun 25, 2019

Choosing the right financial advisor is, in essence, taking the time to invest in what should be a long-term professional relationship that keeps your financial health and future on the right track. The search should go well beyond referrals from colleagues, friends and family and an emphasis on investment performance.

In fact, investors should dedicate as much effort as they would to finding a medical professional with whom they trust their physical well-being. The right financial advisor will provide the professional help needed to reach long and short-term financial goals.

The following are questions that should be asked when choosing a qualified financial advisor. If they can’t or avoid answering them keep looking.

For advisors, being able to answer these questions may be the difference between whether or not a potential client decides to choose you over a competitor.

What are Your Professional Qualifications?

Anyone can hand out business cards maintaining they are a financial advisor so it is important to ask about qualifications and credentials.  

While there are myriad professional designations, top advisors typically have credentials such as certified financial planner (CFP), chartered financial analyst (CFA) and chartered financial consultant (ChFC).

Advisors with CFP designations, for example, are regulated, licensed and take mandatory courses related to financial planning, such as estate planning and retirement planning among others.

Some advisors are also certified public accountants (CPAs). For those who also need tax advice and preparation choosing a financial planner who also has a CPA designation may make sense.

Financial advisors who sell stocks, bonds, mutual funds or insurance have licenses including the Series 6, Series 7, or Series 63. To obtain these licenses they must take exams administered by the Financial Industry Regulatory Authority.

Are You an RIA?

Some financial advisors are registered investment advisors (RIAs), which means they are held to high fiduciary standards put in place to protect investors. The fiduciary standard requires that advisors unconditionally put their clients' best interest first at all times no matter what. 

Advisors who aren’t fiduciaries adhere to a less stringent standard called the suitability standard. This means that any investments they offer must be suitable for a client although it may not be in their best interest.

True to their name, RIAs are also required to register with the Securities and Exchange Commission or the states in which they conduct business. (For more, see: Becoming a Registered Investment Advisor.)

How Do You Charge for Your Services?

Most RIAs charge clients a percentage of assets under management or a flat fee or hourly rate. Advisors who are fee-only do not earn commissions on investment products they sell to clients. On average they charge no more than 2% of assets under management. That percentage often declines the more assets you have for them to manage.

Advisors who work for full-service firms, such as big broker-dealers like Merrill Lynch and Morgan Stanley, typically charge commissions on investment products such as stocks, bonds, mutual funds, exchange-traded funds and annuities that are bought and sold. In theory, advisors who charge commissions could be less objective when recommending investments. 

Who Are Your Typical Clients?

To continue reading, please go to the original article at

https://www.investopedia.com/articles/personal-finance/050815/what-do-financial-advisers-do.asp

.12 Places to Keep Your Money Safe — And Growing

12 Places to Keep Your Money Safe — And Growing

By Tara Struyk

 Maybe you've heard a story like this: An entirely ordinary — and often reclusive — elderly person passes away, revealing the millions of dollars they have stashed away in their modest homes.

One Nevada man died to reveal a fortune, including gold bars and coins, worth more than $7 million. His bank account was found to be holding a meager $200.

In an age when there are so very many options for saving, investing, and managing our money, the notion that people still really do put cash under their mattresses is a bit hard to imagine.

Then again, if you've been faced with the task of deciding where to keep your savings, you've probably discovered it isn't an easy one, precisely because there are so many choices.

So where can you keep your money safe but still earn a decent return? Here are some key options.

Savings Accounts

They're simple, they're convenient, they're easy to find and they're perfectly safe in terms of protecting your principal investment. Because there is so much competition, you can also find a decent interest rate if you shop around. Just be sure to choose an account with no fees. Who wants to pay to save?

(See also: Why Savings Account Interest Rates Are So Low)

Who It's Best For

Those who prioritize liquidity (the ability to withdraw your money whenever you want it without restrictions) above all other conveniences. If you're looking to save for shorter term goals, or for an emergency fund, a savings account is a great option.

Money Market Accounts

This type of savings account tends to provide higher returns than a typical savings account, but that also has more restrictions on withdrawals and minimum deposits.

Some money market accounts even allow some check-writing privileges. These accounts are risk free in terms of losing your initial deposit and, like a simple savings account, are insured by the Federal Deposit Insurance Corporation (FDIC), which protects your deposits against bank failure.

Who It's Best For

Those who value safety and are willing to forego some convenience and accessibility for higher rates of return.

High-Yield Checking Accounts

Many checking accounts charge a monthly fee, but some checking accounts, often called "high yield checking accounts," actually offer pretty solid interest rates instead.

These accounts are typically offered by local credit unions and online banks and, as of July 2014, some offered interest rates as high as 5% — although there are quite a few caveats to scoring that kind of return. You can run a search of these types of accounts and what they offer at CheckingFinder.

Who It's Best For

Those who seek safety, reasonably good liquidity and don't mind jumping through a few hoops for a higher return.

Certificates of Deposit

A certificate of deposit, or CD, is a sort of IOU from a bank in which the bank agrees to pay back the amount you deposited plus a specific amount of interest within a certain time frame.

For example, if you buy a $1,000 CD with a 5% interest rate, you'll be owed $105 when the CD matures. Generally, you can't withdraw this money before the CD's maturity date without incurring a penalty.

However, CDs are very low risk and generally provide higher returns than a savings or money market account. (See also: The Basics of CD Laddering)

Who It's Best For

Those who are seeking a long-term savings vehicle and don't expect to need to access their savings immediately.

To continue reading, please go to the original article at

https://www.wisebread.com/12-places-to-keep-your-money-safe-and-growing?ref=seealso

.9 Essential Personal Finance Skills to Teach Your Kid

9 Essential Personal Finance Skills to Teach Your Kid Before They Move Out

By Tim Lemke

Your child is on the verge of moving out and living on their own. Are they prepared?

Arming them with the right personal finance knowledge will give them a strong foundation to go and achieve many of their life goals. If their understanding of personal finance is lacking, they could begin their independent life on the wrong foot (and they may even come back home).

Consider these ways that you can help your child build a base of financial knowledge before they move out.

1. Show Them How To Budget

Perhaps the most important personal finance skill is consistently spending less than you earn. There are a million different ways to budget, and whatever works for you may not work for your child.

But encourage them to develop a system to track and categorize spending and then compare those expenses to their income.

Of course they'll need to account for housing, food, and utilities but also let them know it's OK to include "fun money" in their budget. It will help them stay motivated to stick to their budget. (See also: How to Help Your Kid Build Their First Budget)

2. Teach Them How Retirement Plans Work

If your child is moving out, they likely have some earned income. That means they can start contributing to a Roth individual retirement account.

They may scoff at the notion of saving for retirement so early, but if you help them open a Roth IRA and demonstrate how much money they can accrue over time, they'll get on board.

Urge them to save as much as they can each month, invest in simple things like index funds, and simply watch their account balance grow over time through compounding.

If they have a 401(k) plan through an employer, take time to review the plan document with them and encourage them to contribute as much as they can. Be sure to explain the advantages of getting a company match on contributions, if one is offered.

3. Explain Bank Interest Rates

Chances are, your child already has a savings account. But it's still helpful to explain that they don't necessarily need to put their money in the first bank they see.

Show them how interest rates can vary, and that it's OK to shop around for the best rates so they can earn a little extra money. Explain terms like APR and APY, and the factors that impact whether rates go up or down.

Also outline the pros and cons of placing money in certificates of deposit. These days, it's also helpful to explain that while interest rates are rising, they're still quite low, and that it might make sense to invest some funds in ways that generate a higher return than savings account interest.

To continue reading, please go to the original article at

https://www.wisebread.com/9-essential-personal-finance-skills-to-teach-your-kid-before-they-move-out

.13 Things to do if You Suddenly Become Filthy Rich

From Recaps Archives

13 Things to Do If You Suddenly Become Filthy Rich
 
Becoming rich instantly, or in a very short period, is part of the great American dream. It happens each and every day to someone. What many people fail to consider ahead of time is that becoming wealthy also comes with great responsibility.
 
People can become wealthy in many ways. Some sell a business or an asset.

Some people become wealthy in a very short period because of a smart or lucky investment. Some of the instantly wealthy win the lottery, win a legal judgment or receive a settlement.

Others inherit more money than they expected, and some inherit money that they never knew was coming to them.

And some people with stock options become instantly wealthy on paper if they have stock options when their employer has an initial public offering or gets acquired.

24/7 Wall St. has created a list of 12 things not to do if you win the lottery, but we wanted to create a blueprint for those lucky few who become wealthy overnight or in a very short time.
 
Again, becoming wealthy comes with responsibility. Suddenly having millions of dollars puts you in the so-called one-percenter club. Being responsible about your newfound wealth may do more than just protect your new assets — it could even save your life, literally.
 
Winning the lottery is one of the more well-known ways of becoming instantly wealthy. Other means of instant wealth do not require things like remembering to sign a ticket or to report winning to the proper lottery authority.CNBC released data in early 2015 showing that there were over 10 million households with investible assets over $1 million, with another 3.1 million households with $5 million or more. They also showed that there were nearly 500,000 new millionaires created in 2014 alone — well over 1,000 each and every day!
 
Becoming rich is one thing. Many people do it, but many also lose their wealth. Some people end up broke because of poor decisions, bad luck or recessions, or because someone else takes it from them. Consider one maxim here: you should only have to become rich once.
 
How would you like to become rich only to end up broke? Any takers? It can happen to anyone who avoids taking the proper steps to protect their wealth. Again, people who get rich should only have to get rich once.
 
Here are 13 things to do (and not do) if you become wealthy in an instant or in a very short time period.

To continue reading, please go to the original article at

http://www.msn.com/en-us/money/personalfinance/13-things-to-do-if-you-suddenly-become-filthy-rich/ar-BBskR0g?li=BBnb7Kz&ocid=iehp#page=1

List of Bank Services to Request or find Out About

From Recaps Archives

(Feel Free to use which of these Suggestions may fit your own personal circumstances and discard those that don't)

List of Bank Services to Request or find out about

LIST OF BANK SERVICES TO REQUEST

Ask the private banker or bank manager to provide the following items:

1. No spread fees or bank fees of any kind charged on the currency exchange.
(With the “1% over-nights”, the “Quarterlies” and the “fractional banking loans”, this should not be an issue.)

2. Highest interest rates available to be paid on my accounts.

Forever Waive all bank account fees, cashier’s check fees, notary fees, wire fees etc.

Bank to provide and pay for insurance to cover all account balances. Lloyds of London - Abbott Downing with WF for accts with over 50M$

5. Access to information on investments such as pre-IPOs, real estate (REO), and bank trading and sweep accounts.

6. Bank to provide a team to include a Tax attorney, CPA, wealth planner, trust attorney, Estate planning, etc.

Private bank debit card such as opal or black card with no RFID

Multiple insurance types (Health, kidnapping, etc.)

Low or no interest loans rate if needed in the future

Increased ATM withdraw limits and Use of out of network ATMs without fees

12. No foreign exchange fees for debit card usage outside the U.S.

13. Concierge services (possible Vertu phone for mainland), First class travel arrangements as needed.

14. Unlimited limo service when visiting any city, in any country other than my hometown.

15. VIP Concert tickets

The following benefits will be available and apply to all accounts as long as a minimum balance of $____________USD (or it’s equivalent) is held in one or more Wells Fargo accounts by ____________ Trust or another entity who’s primary signatory is the client, _________________________.

All benefits will be available for my immediate family (son, daughter and their domestic partners) as long as the above requirement is maintained.

Banking Services
Complimentary Notary Services
Free courier services and overnight delivery with return
Two free safe deposit boxes (largest available, at preferred branches)
No fee/charge for cashing any form of check.
Free Traveler’s Checks

Wires and Bank Checks
No fees/charges for obtaining certified/cashier’s checks or money orders.
No fees/charges for sending/receiving domestic or international wires.

Foreign Exchange
No spread fees or foreign currency exchange fees on foreign currency exchange.
Bank rate (“no spread,” zero difference) on all currency exchanges.

ATM/Debit and Credit Cards
No annual fees on all credit cards
Zero percent APR on all credit cards (Visa, MasterCard, et al) for purchases and cash advances if paid in full within six months, followed by 2% APR on any remaining balances.
No cash advance fees.
Fully adjustable debit and credit card withdrawal limits set by card holder, changeable 24/7
Guaranteed “next day” replacement of lost or stolen cards.
No fees for additional debit cards (ie “linked” debit cards for employees, children, home staff, et al with specific monthly spending and withdrawal limits set for each cardholder.)

Checking and Savings Accounts
As stated above, all accounts shall be free of all bank fees and service charges as long as the client maintains a balance of $______________________USD (or it’s equivalent) is held in the client’s accounts.

These fees/charges include, but are not limited to:

Free checks (No fees or charges for any checks, including online overnight checks/payments from BillPay).

No online banking fees, checking account or savings account fees; No ATM or human teller fees, non-system ATM fees, debit or credit card fees.

No international/foreign transaction fees; transfer redirection charges, overdraft fees, excess transfer fees, returned deposit fees, stop payment fees.

No monthly or annual account maintenance/service fees or card fees, inactivity fees, account closing fees, lost card/replacement card fees.

Any “non-system” or “out of system” banking or ATM charges/fees will be paid for by Wells Fargo and reimbursed to my account within three business days.

In the event of any accounts being closed, all estate administrator fees will be paid by Wells Fargo.

Loans
Maximum 0.5 percent above Wells Fargo’s ________ bank rate from mortgages, real estate, auto and business loans

No loan application fees

Transactions
There will be no limitations of time or amount, penalties, charges or fees on transfer or withdrawal of funds from any of the client’s accounts.

Concierge Services and Misc Benefits
Complimentary Concierge Services 24/7
Complimentary premier lounge access at airports, ballparks, arenas, hotels, clubs, et al worldwide.

Insurance
Lloyd’s of London or Abbott Downing insurance coverage for all accounts.

Private Banking
Dedicated Private Banker / private banking services available 24/7
Upon request Private Banking will provide information and access to pre-IPO offerings and other “by invitation only” investment offerings.
No charges, fees or annual membership dues for full and unlimited access to Wells Fargo Commercial Electronic Office® (CEO) Portal or similar online executive banking management and market analysis services.
After hour appointments on request

Dispute Resolution
Any and all disputes will be resolved by an independent third-party mediator.
Their opinion will be binding and serve as a final ruling.
All parties will honor and abide by their decision.