English Warka Bank Statements [Archive] - Investor's Iraq Forum - Iraq Dinar Forum, Iraq Investments, Iraq Stock Exchange, Iraq Bank, Iraq News, Iraqi Dinar

JeffEdmo

09-16-2004, 11:05 AM

and you get a very professional monthly statement too.
Keep in mind that your IQD bank account will accrue an additional 5% interest for your IQD's

According to Warka's website the Savings account accrue interest but the Current accounts do not. I asked Miss R to setup a Dinar Savings account and received my account numbers today. According to her email, she set me up with a USD Savings account and a Dinar Current account. I have sent her an email this morning asking why the Dinar account is not a Savings account and am waiting for her response.

What does everyone else have for their Dinar account? Savings or Current?

DrCashflow

09-16-2004, 11:32 AM

have both dollar savings and dinar savings

i read a post somewhere that dollar savings and dinar savings accounts earn 3% and 5%, respectively.

IraqiFreedom

09-16-2004, 11:49 AM

I have savings for both of my accounts. Since checking is not available due to lack of mail in Iraq and, for most of us, lack of Iraqi citizenship, there is no advantage to a current account as far as I can tell.

It's possble that there may be a pre-set period of time for Warka to pay your money back to you. For example, although almost never applied, most US savings accounts have a clause that says that they have 30 days (or some other period) to disburse your funds to you after you make such a request.

I do not know if this applies at Warka, but if it does it would likely be applied if the dinar skyrocketed.

JeffEdmo

09-16-2004, 01:08 PM

have both dollar savings and dinar savings

i read a post somewhere that dollar savings and dinar savings accounts earn 3% and 5%, respectively.

I read this somewhere also. In my first email to Miss R I specifically asked for two Savings accounts to be setup. One for USD and one for Dinar. Her email to me says she set me up with USD Savings and Dinar Current. I guess I'll just have to wait to hear back from her about it...

That's why I wondered what she set everyone else up with.

Marilyn

09-16-2004, 02:08 PM

Mine are both savings as well...

BRYAN

09-18-2004, 03:52 PM

BRYAN

09-18-2004, 03:54 PM

I have a savings and a current ( checking ) account .

JeffEdmo

09-18-2004, 11:48 PM

I have a savings and a current ( checking ) account .

USD Savings and Dinar Current? Did you request the Current account or is that just what she set you up with?

I still have not heard back from her about my account...

DrCashflow

09-19-2004, 07:38 AM

requested both accounts to be savings. occasionally, Miss Rannda's internet access is down, so it may take longer to hear back. Send a follow-up email with a respectful tone requesting a status on the account changes...hope this helped.

Aunt Gwennie

09-19-2004, 08:45 AM

I posted this earlier up....but I guess it didn't click with anyone....so I'll ask again!! I am still waiting to hear back from R to see if she will confirm a new computer network in the bank. My first deposit slip was hand written but this second one is computer generated because of the tractor feed holes on each end of the paper.

Just wondering if anyone else has noticed this.
Aunt Gwennie :wave:

BRYAN

09-19-2004, 08:46 AM

USD Savings and Dinar Current? Did you request the Current account or is that just what she set you up with?

I still have not heard back from her about my account...
I have the US dollar account - the iraq dinars accounts 1= current and 1= savings .
I had to request the savings account after I had set the current account up .
I have to agree that recently there has been a delay with her responses.
I hope everything works out for you .

Hollywood

09-19-2004, 10:25 AM

I would like to open an account with warka but am scared about loosing my money. Is it safe. Any info that would put me at ease about a warka account would be really great. How about accounts in Kuwait or Jordan would they be more secure. I have all my Dinar in cash in my safe and it seems it would be much more quick and easy to exchange them through a bank over there. When the dinar opens I think it's going to be a wild ride up and down for a period of time until it stabalizes it would sure be nice to be able to move quickly when it reaches a price we like. I have checked with several bank chains about converting Dinar to U.S. Dollars when the time comes and let's just say they were less than receptive. My worst fear is seeing the dinar reach .50 or better and have no way to quickly convert them to greenbacks. How about selling them on ebay once it opens, we would have to sell them for a small % less of course to make it attractive to buyers.

kelleyB

09-19-2004, 11:09 AM

I have all my Dinar in cash in my safe and it seems it would be much more quick and easy to exchange them through a bank over there.
Hollywood, you can not send Dinar to Warika Bank. You would have to send it by mail and they will not be responsible for it if anything happens. If it is lost or stolen in route, it is on you. You must send another currency like US dollars. They will have a U.S. $ fund account and a dinar account for you so you can transfer it into Dinars there. But sorry you can't send the dinar unless your willing to lose it.

Monty

09-19-2004, 03:58 PM

Has anyone had their bank statement actually fully translated to English ???
My sister-in-law has a friend that is from Iraq and the father is translating the entire statement for me and I'll know what it say's by monday .
I have statement translated fully to English. It's by R, not machine generated. I am not sure if they have ability to generate computer statements in English. Aunt G mentioned something about machine generated. We will wait for her response.

Monty

BRYAN

09-20-2004, 06:56 AM

I have statement translated fully to English. It's by R, not machine generated. I am not sure if they have ability to generate computer statements in English. Aunt G mentioned something about machine generated. We will wait for her response.

Monty
Thanks Monty for the reply ...
I sent an additional message to R.. waiting to here back ..
What date was on your statement monty ,
Anyone else has the date translated from their statements yet ??? :confused:

Monty

09-20-2004, 08:33 PM

Thanks Monty for the reply ...
I sent an additional message to R. waiting to here back ..
What date was on your statement monty,
Anyone else has the date translated from their statements yet ??? :confused: Original statement in middle of last month and translated in a week-10 days.

So did she actually mail it to your home address through regular old snail mail. Thanks in Advance, Josh
No, it's email. She scans original statements and sends them as attachments. She did English translation and emailed as MS word file. Still primitive and sometimes scary the way they do business. Well, its high risk investment to begin with.

Monty

Aunt Gwennie

09-21-2004, 07:38 AM

I have statement translated fully to English. It's by R, not machine generated. I am not sure if they have ability to generate computer statements in English. Aunt G mentioned something about machine generated. We will wait for her response.

Monty

I got my response back from R this morning. She says the bank is computerized.....when we get hand written deposit slips is when the electricity is down. And everything is in Arabic, hand generated and computer generated. Here is her exact quote:

All our bank deals is through computers but some times when the
electricity goes down we use handwriting .
Not every thing is changed in Iraq ,lots of things still as it was and
maybe become worse than before , we hope its become better.
Best regards .

R
WIB

I feel so sad for her :( and for all this chaos the people of Iraq are having to go through!! We can not even begin to know what they are going through over there with the exception to those of you who are actually there. And she gets up and goes in to do her job every day!!! That would also explain the delays in her getting back to us with regards to setting up accounts, etc.

We should all be thinking twice about some of the BS we find to gripe about!! :mad:

Aunt Gwennie

Jerry

09-22-2004, 12:46 PM

Your islamic bank statements have a unique signature at the bottom of them.
It very much resembles the Jabber Family (royal) here in Kuwait. I think each bank statement is signed by a very prominant high up person. I'll try and find out who exactly. If anything they are a definate piece of history in the making. Not many americans have access to what we do. From a finantial / historical stand point those are very special notes.

Just my 2 cents

Jerry

BRYAN

09-22-2004, 01:38 PM

I had the statement translated by a friend of the family and it is real and is corret to the numbers that R had given along with her first response .
I saw A g's post and does make me feel sad for the situations the people have to endure . ...
Pray for them all

BRYAN

09-22-2004, 01:40 PM

I got my response back from R this morning. She says the bank is computerized.....when we get hand written deposit slips is when the electricity is down. And everything is in Arabic, hand generated and computer generated. Here is her exact quote:

All our bank deals is through computers but some times when the
electricity goes down we use handwriting .
Not every thing is changed in Iraq ,lots of things still as it was and
maybe become worse than before , we hope its become better.
Best regards .

R
WIB

I feel so sad for her :( and for all this chaos the people of Iraq are having to go through!! We can not even begin to know what they are going through over there with the exception to those of you who are actually there. And she gets up and goes in to do her job every day!!! That would also explain the delays in her getting back to us with regards to setting up accounts, etc.

We should all be thinking twice about some of the BS we find to gripe about!! :mad:

Aunt Gwennie

I agree . 100%

eflop

09-22-2004, 03:56 PM

I've been reading this forum since T&B. I don't usually have much to say but I just noticed a new link on the Central Bank of Iraq web page. Maybe I missed it before but I found it interesting anyway.www.cbiraq.org/cbs6.htm (http://www.cbiraq.org/cbs6.htm)

JeffEdmo

09-23-2004, 11:48 AM

According to Warka's website the Savings account accrue interest but the Current accounts do not. I asked Miss R to setup a Dinar Savings account and received my account numbers today. According to her email, she set me up with a USD Savings account and a Dinar Current account. I have sent her an email this morning asking why the Dinar account is not a Savings account and am waiting for her response.

What does everyone else have for their Dinar account? Savings or Current?

I finally heard back from Miss R. They are definately having email issues. She responded to my email twice and I received both emails from her this morning. As stated in other posts, be patient and politely follow up. She'll come through for you.

If anyone else recently setup accounts with her and received a reply saying she setup you up with USD Savings and Dinar Current accounts - She says "your Dinar account is saving account but I wrote it by
mistake current ( I have a form that I put to my self to make my work easier
and it was written current account so I think I forgot to change the word )
I so sorry for this ."

For those of you with questions about how much $ to keep accounts open. They charge $1.25/$1000 to accept wires. The change left over will be left in your account after you have her transfer your USD(whole dollars) to your Dinar account. This change is enough to keep the account open. Accounts can remain open for up to 6 months even if they do get emptied.

Later, when you transfer your Dinar to your USD account and have them wire it to your local bank they will charge .5% commission or $5,000/1Million.

I know some of this has already been coverd but it seems to come up from time to time. Thought it might be of help to someone.

IrishNight

09-25-2004, 02:03 PM

This may have been asked before, so please forgive me, but:

Once you open an account can they verify the account via Swift code or electronic verification?

Is there a limit to the amount of dinars that cna be deposited in one transaction?

What's the normal ETA for an acocunt ot be opened?

Can a representative on the ground depsoit dinars in an account in order to open the account vs. wiring the funds?

While we all anxiously await the "live" date, it would be great to put my dinars in an interest bearing account, that can be verified by my bank here in the US.

Any answers or assistance would be much appreciated. :wave:

BRYAN

09-25-2004, 06:47 PM

This may have been asked before, so please forgive me, but:

Once you open an account can they verify the account via Swift code or electronic verification?

Q :Is there a limit to the amount of dinars that can be deposited in one transaction?
A : you can't deposit Actual dinar currency unless you are in Iraq .
you can authorize Miss R to purchase them for you and deposit them into you IQD ( CURRENT OR SAVINGS ) account

Q :What's the normal ETA for an acocunt to be opened?
A: About 4- 7 days

Q :Can a representative on the ground depsoit dinars in an account in order to open the account vs. wiring the funds?
A: I don't know but I think you could get an answer from Miss R on this one .

While we all anxiously await the "live" date, it would be great to put my dinars in an interest bearing account, that can be verified by my bank here in the US.
Note : Only the saving accounts and US dollar accounts draw intrest with Warka .

Any answers or assistance would be much appreciated. :wave:

hope this helps .... :huge:

IrishNight

09-25-2004, 06:54 PM

JeffEdmo

09-25-2004, 07:01 PM

Thanks for the post Bryan. I'll contact Miss R and see about opening a savings account for IQD. What is the best method to contact her? Any idea on what the norm. interest rate is? Thanks again for the assistance.
It seems you'll get good results by emailing her around 12:00-1:00am Central time. That's 9:00-10:00am for her. Sometimes her mailbox gets full and your message will bounce. However, by then she'll probably be in there clearing messages and yours will eventually go through. That's what worked for me. 3% interest on USD Savings account - 5% on Dinar Savings account.

BRYAN

09-25-2004, 07:28 PM

Thanks for the post Bryan. I'll contact Miss R and see about opening a savings account for IQD. What is the best method to contact her? Any idea on what the norm. interest rate is? Thanks again for the assistance.
It's good to see others are team players ... thanks Jeff for adding the times ..

Yes the best times are betweem 1230 am and 2 30 am est and I think that tues mornings are the best days . And it depends on the current situation with electricity and other problems so don't give up if you don't get a response in 4 -7 days by all means attemp again .
If you want to purchase stocks on the ISX when it opens .. you must have a current account .
I have both a current and a savings . most is setting in the current account waiting .. poised .. ready to buy the stocks I have instructed and authorized Miss R to purchase .. when the ISX is open to us .. Hopefully real soon !!!

IrishNight

09-25-2004, 08:33 PM

It's good to see others are team players ... thanks Jeff for adding the times ..

Yes the best times are betweem 1230 am and 2 30 am est and I think that tues mornings are the best days . And it depends on the current situation with electricity and other problems so don't give up if you don't get a response in 4 -7 days by all means attemp again .
If you want to purchase stocks on the ISX when it opens .. you must have a current account .
I have both a current and a savings . most is setting in the current account waiting .. poised .. ready to buy the stocks I have instructed and authorized Miss R to purchase .. when the ISX is open to us .. Hopefully real soon !!!

Great Fellas! I appreciate the assistance. It's good to know a few team players. The way I look at it we're all working toward the same goal...retirement, and everything we've dreamed of. Everything is about being in the right placebefore it happens.:happy64: :lmao:

Housedoctor

02-19-2007, 04:18 PM

Hi,

I want to open an account at Warka Bank. I notice you all have USD accounts also to fund your Dinar account. As I am in the UK can I open a Sterling account or does it have to be in US Dollars only.

Thanks

R1CH1Y

02-20-2007, 01:59 AM

Im afriad that its only USD accounts for Warka, im in uk too, get your account set up in warka, then set up a wire transfer from your uk bank, they will ask what currency you need to send. (see the "setting up warka account" section) from the main page, its all there.

Hope this helps

2007 the year of the Dinar! :happy64:

dragonfly

02-20-2007, 06:12 AM

Hello Everyone,

I am new here, just joined yesterday. I see in this message about Warka Bank. I have purchased some dinar that I have here at home. I was wondering, would it be better to open a bank account in Iraq? If so, how do I do that. I would love to invest more money in this, but I am not sure how I should do it. I purchased all my dinar on Ebay. Should I buy more dinar to keep here at home? If so, where should I purchase it from? Can someone please give me some ideas as to what would be the best way to invest?

Thanks
Have Great Day!
Dragonfly :confused: