Q. Do we have to pay taxes on foreign currency?
A. No, currency is not taxed.
Q. If and when the Dinar revalues do you exchange? If not can you direct me to the right place or company that does and what's the process?
Q. My son is going to be going to France soon - do you sell the Euro?
A. Yes, we exchange over 70 different currencies at this time. You will find that our rates are very competitive and because you will be paying with a bank check will not be faced with additional charges from your credit card company.
Q. How quickly will I get my check when I sell back to you?
A. We ship every redemption check via FedEX standard overnight service so most people get their check on the next business day after we receive it. We guarantee two business day delivery because sometimes the package with your currency arrives after our cutoff.
Q. Why do we have to give photo of driver license and social security number?
A. As a registered MSB (Money Services Business) we are given guidelines from the US Treasury Department regarding transactions where secured funds are involved. The treasury regards these transactions as cash transactions. These rules were set up to identify people who might be laundering money. It is known as the "know your customer" rule outlined under the Patriot Act Compliance guidelines.
Q. How many dinar can a person hold and / sell? I heard a person can only hold one million dinars.
A. Like any other currency, there is no limit on how much an individual may own. In terms of selling, we have a $5,000 USD limit for first-time customers selling currency back to us.
Q. Can you please explain the red/green Buy/Sell/Mkt info on your homepage? What is it telling me?
A. The Buy rate is the rate we charge if you were to buy currency from us.
The Sell rate is the rate we pay if you sell currency back to us.
The Market rate is the rate that banks and financial institutions exchange the currency at.
The rate is colored green if it has increased in the past day relative to the USD or colored red if it has decreased.
Q. Can u buy small amounts like 100,000 at a time?
A. We have a minimum order amount of $250, so while you can buy 100,000 of one denomination, you'd need to buy another to meet the order minimum.