In Adept1

Dear friends,

A couple of questions have come in following recent intel, so let’s run over the exchange process (so you can refine your to-do list).  Here’s the overall process:

  1. As soon as I get the 800 number(s) I will send it/them out to you by email.


  1. Call the 800 number for an appointment.  They will ask for your name, zip code, currencies — the zip code is to identify your location, and the currencies so they know how much you are likely to be handling;  different levels of wealth require different levels of wealth managers. Zim is handled differently than all the other currencies, so If you have Zim, they will almost certainly send you to an exchange location rather than a bank branch.  This exchange location will have great security AND be connected to a bank, so it’s just like going to the bank.  Ask for an email address so you can confirm the appointment.  They will ask if you want to use HSBC or WF (because of the Zim).  Don’t worry whether you like WF or not — after the exchange, you can change banks and in any case most of your funds will go to investment houses.  It will speed the process if you already have an account at WF, even though you’ll be asking for new clean NIB accounts, because they will have you in their system.  Just get it done!


  1. Once you have the exchange appointment details, including who and where you are to meet, send your ‘pre-exchange email’ with those details and any questions/concerns you want them to address at the first appointment.  Ask for a wealth manager, mention private banking, and say you want to develop a long-term, mutually-beneficial relationship with the bank.


  1. Go to the appointment.  You may bring an attorney, but no one else.  There will be security at the location, and of course no one will know you are carrying currency unless  you tell them – so don’t.  Be on time, wear business attire, be polite and confident.  They will almost certainly NOT allow you to have a cell phone or laptop with you, so have all your paperwork — to do list, CV, mission/plan, receipts, spreadsheets, trust docs, one-page summaries of humanitarian projects, plus any other documentation, neatly organized in a three-ring binder. If you haven’t already arranged this, do it right the heck now!


  1. At the appointment, YOU will
    1. Present your ID and currency.
    2. Receive the written receipt for the currencies.
    3. Ask for ‘screen’ or ‘contract’ rates for ALL your currencies.  Make sure to bring your notes about how what you expect those rates to be.  If I receive confirmation on those rates, I will send them to you beforehand;  otherwise, use the ones I already sent with the Eight Sequence article (attached) — the rates in the middle column. Talk about your humanitarian plans, and make it clear you are setting things up for the long term, say, a hundred years.  It’s totally okay to use the other 20% for you!
    4. Read the NDA.  If you’re reasonably happy, sign it, and initial on each page.  Get a copy for your records.
    5. You will make decisions about the Zim structured payout — I suggest 25 years @ 10%.  Find out how often you will be paid that interest.
    6. Have them set up a new, clean TRUST account — a NON INTEREST BEARING account — for each currency.
    7. Negotiate how much you have immediate access to.
    8. Present your list of cashier’s checks.
    9. Ask for and receive a temporary debit card.
    10. Ask for a high-limit credit card.
    11. Set up your next appointment with your personal wealth manager and humanitarian giving team.


  1. At  the appointment, THEY will
    1. Check your two forms of picture ID.
    2. Verify your currency on site.
    3. Give you a receipt saying X amounts of dinar, dong, rupiah, Zim, whatever is now in their custody.
    4. Give you a copy of the NDA.
    5. Open a new TRUST account in the name of your Trust, using your Trust EIN (not your personal SS#).
    6. Give you a deposit slip or receipt for what is in your new account(s).  For non-Zim, you should have 10% at once, and the rest in 24-48  hours.
    7. Give you a debit card and possibly a temporary credit card with a high limit.


  1. Send an email after the appointment summarizing the agreements you just made and bringing up any extra questions or concerns you may have.  Print up all emails as a paper trail; put this in your bank folder.


  1. Second appointment with wealth manager:  this is where you will discuss/negotiate how much you are willing to leave in their bank, and for what rate of interest, whatever perks you want, etc.  One perk could be a new secure laptop JUST for banking;  we are told that the bank will give you this as a perk, but only if you ask.
    1. Negotiate the terms of what you will leave in the bank — interest rates, pay periods (monthly, quarterly, yearly).  The rest you will move to investment houses or private banks, so be ready with a list.  I’ll probably be using Mission Wealth, Abbot Downing, and a private trust company.  Remember, you need a professional team to handle this amount of money, but it doesn’t have to be the bank’s team.
    2. Negotiate or confirm the terms of the Zim payout.
    3. Discuss your humanitarian projects, and what you need to pay out right away.  In general you will use income to support your projects, not capital.
    4. Arrange for any major payments you need to make, such as buying a car or the downpayment on a house.  In the first 30 days, wire transfers will be limited to 500K, so if you need to pay more for something, ask the bank for the best way to transfer money.


I hope this makes the whole process a bit clearer.  By the way, I will be out of town from 7-14. June;  I hope to be at the bank before I leave, but if not, I will certainly exchange immediately after my return.  I’ll have my phone and laptop with me;  where I’m going, text, internet and FaceTime are free and unlimited, but phone calls are relatively expensive, so text or email me if you need to (keeping in mind I’ll be on European time).

Let’s go exchange!


[Dinar Detectives Notice: All posts are for informational/entertainment purposes only and are the opinions of the providers. They are not legal, tax or investment advice. We strongly encourage everyone to do their own due diligence and seek professional tax, legal and investment advice.]