Swift Code

[tco]

I do not know much about wiring for this is my first time but the bank asked me for a Swift Code of Warka Investment Bank and I've noticed the other thread which has the swift code for that bank. Is all transaction the same under that swift code(WAIVIQBA) or do you have to have different swift code per transaction. Otherwise, I will have to ask for a swift code from that bank. I'm just making sure that I'm doing it right. Thanks in Advance!!

[jules]

last i talked with r from warka, she did not want us using warka swift code, only the swift code for the bank it is being routed through to warka. She will certainly let you know for sure if you email her. :wave:

[tco]

I've just emailed her concerning the swift code and she just email me in less than one hour. Boy, she is quick!! Anyway, I've got the swift code!

[bkewl]

TCO,

Please post Randda's response for the benefit of others.

Thx

[Aunt Gwennie]

Just an FYI....your transfer is going through the Housing Bank for Trade & Finance in Amman, Jordan. You use their Swift Code of HBHOJOAX. Then you will use Alwarka Investment Bank's account number 0019583140201 to receive the credit amount from the Housing Bank and then your final credit of the money will be your information and your USD account number at Warka Bank.

Be prepared not to have your full amount make it to Warka. Once you send it to the Housing Bank in Jordan and they forward it to Warka Bank, they will take their wire transfer fees out of your money being wired to Iraq.

Hope this answers your questions. The above Swift Code is the one R instructed me to use. Good Luck!

Aunt Gwennie :wave:

[tco]

Here's my response from Rannda,


Hi ,
The Swift Code of Housing Bank is :HBHOJOAX .
Best regards .
R WIB

[Blake]

I was just wondering if anyone had figured out the difference in Dinar rates that you get between using Warka and their associated fees or one of the dealers on ebay. Just interested to know if anyone had figured it out. I already know all of the pros and cons of the Warka accounts. Thanks in Advance.

Josh :confused: :confused:When you wire money to Warka Investment bank, you get the official dinar rate (currently about 1462.5 ID:1 USD), which comes out to about $691 U.S. Dollars per 1 Million Iraqi Dinar. On Ebay, the markup price averages to equal about $900 U.S. Dollars per 1 Million Iraqi Dinar.

[Aunt Gwennie]

Do you know what fees the Housing Bank of Trade and Finance charges though?? I know my bank charged 30 bucks, just wondering what to expect.

Thanks Again, Josh

Hey there Josh!!

I wired $500 USD and when it got to Warka I had $464 so that would be $36. Don't know how much it would go up if you were wiring more than that. Then when R transferred my USD to my Dinar account, she transferred $461 and purchased my dinars at 1462.50/USD. Their fees for completing that transfer was 1152.5 Dinars or less than 1 USD. So it comes out to $683.76 USD/1 million Dinars.

Aunt Gwennie :wave:

[kelleyB]

I haven't gotten anything back yet regarding accounts

I sent out my second letter on the 8th. Resending the docs requested and nothing back. :( I will give her till the end of the week.

[Monty]

I haven't gotten anything back yet regarding accounts

I sent out my second letter on the 8th. Resending the docs requested and nothing back. :( I will give her till the end of the week.
Hi Kelley, that is what’s happening lately. I send an email on 7th. No response yet. I did receive an email before as follows.

""Thank you so much for asking about me , I’m fine ,I have an over load work , for past month I work instead of 2 girls beside my work and for the past 2 weeks I worked instead of 3 , and that’s really get me tired I have to take my work to my house and worked until mid night spatially when you know I have to wait for the electricity to come .""

We can imagine how busy she is. Our only connection to Warka bank is through her. It might be ok just to keep money there. I wonder how we do for active stock purchases (buy and sell).

Can anybody who opened account recently post his/her account number range like "more than 700" or "500 to 600"? (last three numbers for Dollar account). It will give us an estimate of work load for R. Thanks

Monty

[Monty]

Do you know what fees the Housing Bank of Trade and Finance charges though?? I know my bank charged 30 bucks, just wondering what to expect.

Thanks Again, Josh

There are several fees before we convert dollars into Dinars

1. Wire transfer fee by local Bank (bank in USA)
2. Wire transfer fee by middle bank (bank in Jordan) (some did not pay this)
3. Wire transfer receiving fee by Warka Bank
4. Account setup fee by Warka Bank (minimal)
5. Commission charges by Warka Bank for buying Dinars
6. Exchange fees by CBI
7. Statement fees by Warka Bank

Then there are fees for buying shares and fees for transfer back to USA.

Hope this helps. Most of the above fees vary with the amount you deposit.


Monty

[Aunt Gwennie]

Mine was in the 100's. She always seems to respond relatively quick for me.


Josh

Ours is almost to the 100 mark on our USD account and in the 700s for our Dinar account.

Aunt Gwennie :wave:

[tco]

Well, I did it and here's how I did it. I've wired $700 thru Amman, Jordan which is the their swift code HBHOJOAX and transfered to Warka which is WAIVIQBA on September 13. Got the confirmation in the email today (Sep. 17) but it was sent Sep 16 according to the time stamp. However, I've ended up with $664.11 in my account. Now I'm just going to let it ride!! I will probably send more next month but I've got some in the bank. Thanks to all of you for a great information!!

[Aunt Gwennie]

Well, I did it and here's how I did it. I've wired $700 thru Amman, Jordan which is the their swift code HBHOJOAX and transfered to Warka which is WAIVIQBA on September 13. Got the confirmation in the email today (Sep. 17) but it was sent Sep 16 according to the time stamp. However, I've ended up with $664.11 in my account. Now I'm just going to let it ride!! I will probably send more next month but I've got some in the bank. Thanks to all of you for a great information!!

But make sure to let R know to go ahead and exchange your USD to Dinars and put in your Dinar account. You want to do that exchange now while the going rate is around 1460/$1. GOOD LUCK!!

Aunt Gwennie :wave:

[tco]

I've just recently got the confirmation that US dollars has been exchanged to dinars, however I've noticed that the exchange rate according to R is now 1462.5 per US dollar. Seems to me that the other website is not updated on the exchange rate. Just to let you know!!

[stealth_545]

i am confused...so i just send the transfer using the housing code and it is automatically forwared to wib...