Xchange Of America CC Notes By FLPatriot59
“We’ve had a dinar dealer that stopped selling - GID & Sterling - and we’ve put on our website that we will honor all purchases of theres. If you hold currency and you were a customer of theirs, we will grandfather you in as an Xchange of America customer and get priority service as one of our customers. We started that about a week ago. We want to put the customers at ease so you have a place to go. We don’t have any info on what happened and honestly we don’t really care what happened. We care about what happens at Xchange of America. What happens in this industry affects what happens at Xchange of America and that’s what we care about.” - Robert Hoffman, Jr., President & CEO of Xchange of America
He continued: “For the course of the last month we’ve been visiting locations in the state of Texas. Last week it really hit me when we met with the top person in a new dealer in a major city who had selected Xchange of America as their currency dealer. This organization, in the future, and more importantly today, is a brick & mortar business with a major internet presence along with its 9+ stores to service our customers and give them a “warm & fuzzy” feeling when they walk into one of our stores. Whether it’s in Vegas, Culver City, etc. they know we’re here to stay, to stimulate the economy, and we are a successful company here to stay. Nowadays, we are in mainstream America and that enables us to provide you with inventories of 70+ currencies, the most advanced layaway in the industry (credit & debit card billing, instant processing, etc.) and we’ve been able to accomplish it. Ultimately the one that wins is the Xchange of America customer.”
Moderator: We will not speculate on what has happened in the past week, but will answer questions based on facts.
Q&A STARTING NOW:
313 - When you do an exchange does your fee vary or is it standard?
A - We charge a standard $4 walk-in fee.
Q - Street rate or market rate?
A - We’ll have a buy rate and a sell rate. We update within 30 minutes of the CBI completing their auction.
Q - Will you exchange dong and rupiah?
A - Those for sure. If the rate goes up, there will be more volume.
850 - How can I reach you by phone?
A - 888-800-1977
Q - Can you speculate on the hold-up on the RV of the dinar? Is it Iraq or the US?
A - We are a national currency dealer and we cannot speculate.
252 - If the street/int’l rate for the dinar comes at $3, and you’re looking at an auction daily, what would your rate be if you’re paying someone?
A - All rates on any product, whether it’s currency or precious metals, is based on supply & demand. It’s all based on the CBI. We will publish our rate based on our buy and sell rate each day. And banks do the same thing. Banks do not give street or int’l rates. They give their rates, which are determined by supply & demand. And those rates change depending on the location. It depends on the currency, the buy & sell volume, and the region where the exchange is being made.
Q - What is your website?
A - www.xchangeofamerica.com
541 - If the currency value changes and you’re in the middle of a 7-day layaway, can you pay off that layaway with what is being held?
A - Yes, you can walk into one of our locations and, with your layaway receipt, place a sell order. That order will be sent to corporate and verified where it will be processed and ready for pick-up in 7-10 business days. Placing a sell-order on the website on the day the rate changes is not honored. You must walk into one of the physical locations to process the sell-order if you do that on the day the rate changes.
Q - What about picking up my currency?
A - If it’s before the rate changes, the currency pick-up isn’t a big deal. If you want it exchanged for USD first, we would arrange a transfer to you in 3-4 days.
Q - Would you be doing structured payouts if the USD amount is large?
A - Currency exchanges cannot be paid as a structured payout. That’s the law. We’re the only currency dealer in America that does bank transfers. We have no limits to the transfers we do.
CC was not transcribed in it's entirety.