Payment
- Q: How much is my currency worth?
- Q: How do I know when my payment will arrive?
- A: You have a choice of receiving either a business check(in U.S. dollars) sent via FedEx (you choose either next business day or 2 business day service) or you may choose ACH(direct Deposit) in which case your payment will be made directly to your checking account on the next business day following the receipt of your bank notes. If you choose to have a check sent to you, you will receive an email with the FedEx tracking number.
- Q: How will I get paid?
- A: You have a choice of receiving either a business check(in U.S. dollars) sent via FedEx (you choose either next business day or 2 business day service) or you may choose ACH(direct Deposit) in which case your payment will be made directly to your checking account on the next business day following the receipt of your bank notes.
- Q: How is the payment sent to me?
- A: The check is sent via FedEx priority overnight service.
- Q: What if I have a PO Box (FedEx does not deliver to PO boxes)?
- A: If your address is a PO Box we recommend that you choose ACH/(Direct Deposit) as a payment method or else please contact customer service at 877-723-3391 or info@safedinar.com.
- Q: How quickly will I get paid if I send my currency to you?
- A: If you choose ACH/(Direct Deposit) you will receive your payment within one business day of your currency being delivered to our facility(please note that currency received after the cut off will be sent on the following business day. If you choose to be paid by check, we guarantee you that your check will be delivered within one or two business days depending on the service that you choose.
- Q: How do you calculate the final payout for the Iraqi Dinar, which is quoted in a range?
When you sell back Iraqi Dinar, you’ll notice that your quoted payment amount is presented in a range. We pay more for uncirculated notes, so depending on the quality of your currency, your final payment amount will fall somewhere in this range (assuming your send the exact denominations and count that you specified in your redemption request).
The payment amount is determined precisely based on the number of uncirculated and circulated notes we receive. Here are a couple examples that demonstrate how the calculation is performed. For simplicity, let’s assume you’re selling 100 x 10,000 notes that have a circulated exchange rate of $600 / M and an uncirculated exchange rate of $700 / M. In our example, you’re selling 1,000,000 (or 1M) in foreign currency and the range presented is $600 - $700 before shipping.
- If we receive 100 uncirculated notes, you’d be paid $700 before shipping, or 1M at $700 / M.
- If we receive 100 circulated notes, you’d be paid $600 before shipping, or 1M at $600 / M.
- If we receive 50 uncirculated notes and 50 circulated notes, you’d be paid $650 before shipping, or 0.5M at $700 / M ($350) plus 0.5M at $600 / M ($300).
To see the difference between uncirculated and circulated notes, please see our note quality page .