Warka charges annual subscription for online access to one's account.

[eosirl2]

When trying to login into my account it stated that my password had expired but it was on the 1st try, and I didn't fat-finger it. I then assumed someone somewhere inadvertently entered my account number and obviously had the wrong password which would have caused my password to expire.



When I brought the problem to the attention of Warka, I received the following reply. It would seem that Warka IT admins are instructed to set people's passwords as expired, without notice to the account holder. It never ceases to amaze me how Warka can change its operating rules again without notification to its customers.



Anyways just thought you should know and may want to test your login functionality, in case anyone wanted to do a quick transfer out of Warka in the near future. Ironically it would be a very expensive subscription if a change in the dinar's rate was forthcoming, well expensive for an account holder but a windfall for Warka. :wink:


This is the email from Mr. I.



__________________________________________________



Dear Sir,

Please provide us with a signed request that authotizes our bank to renew your online annual subscription deducting the fee from your account IQD 15000. Please indicate your account number in your request.

Best regards,

[tmorr37]

Yes, Your online banking expires every year and you must reapply
15,000 Dinar a year is Cheap, After an RV it would be adjusted.

[eosirl2]

Yes, Your online banking expires every year and you must reapply
15,000 Dinar a year is Cheap, After an RV it would be adjusted.


I don't think it would be cheap if I paid them 15000 dinars today and the dinar rv'd the day after. That's my point. Naturally I would be as happy as Larry to be in such as situation, but still it would be a waste.

Since I don't do much with it, other than look at the balance after interest is paid, I think I will wait after the RV to deal with it. :nerd:

PS
I have the account several years and this is the first I have been requested to pay annually, hence my post.

[DallasDinar]

You are fortunate, I have been with Warka for over 3 years and have to pay every year...this is not new...

[tmorr37]

We have always had to pay and the Interest you make more than pays the Fee.
Whats it now, 7% ? that 70,000 dinar in interest on a Million

Imagine your in Iraq and buy a used car about 3,000 USD, thats 3,510,000 dinar. The next day the Dinar RV 1 to 1. That car is still worth the same 3000 USD.

[eosirl2]

We have always had to pay and the Interest you make more than pays the Fee.
Whats it now, 7% ? that 70,000 dinar in interest on a Million

Imagine your in Iraq and buy a used car about 3,000 USD, thats 3,510,000 dinar. The next day the Dinar RV 1 to 1. That car is still worth the same 3000 USD.

What would happen if you didn't buy the car the day before the dinar rv'd but rather after? How much would you have in your pocket?

You'd have ((3.510 million dinar x the new USD RV rate)- $3000) cash in pocket.

Now regarding the price of the car in dinar, it was originally 3.510 million dinar at a pre-rv rate of X USD per dinar, which equals 3000 USD as per the example. Therefore to express the adjust price of the car in terms of the RV'd rate, it would be: (USD 3000 x the RV'd rate where the rate is express in USD per Dinar)

Say the RV rate is Dinar to USD as in 1Dinar = 1.24 USD or inversely 1 USD = 0.8064 Dinar

3000 USD = 2,419.200 Dinar for the car at the New Rv'd rate.

Therefore economically it would be better to wait. (3.510 million - 2,419.200 = 3,507,580.800 still in my pocket. :clapping:

[tmorr37]

Yeah but for how long ??
So far I've been walking for 5 years now and I need that car.

[lglwzrd]

just pay it

[tmorr37]

I'll keep my Online Banking as I will need access to my money. After the RV you will never get through to them. As we pull our money out 10,000 times more people will be entering the market. Warka will be just to busy.

[GottaDash]

Yep. Got the same thing. I knew it was coming, but it took them an extra 6 months to figure it out.

IMO, it's important to be able to see your account, specially when it is in another country.

I put in my request per Mr. I's instructions and hope to get a response in the next day or 2.

No biggie. It's what - $12.82 for the year? I blow that much on coffee a day.

[tmorr37]

Exactly why there will be no Fantasy "RV"..... Just another example of why...keep your eyes open..it will come to you :)..

Good Luck to all !!

Well there is also this, each bank is required to hold 50 Billion in reserves.
An RV would really boost the Banking sector.

If an RV comes then the ISX is an asset like the car. 1Mil shares become 1Thousand.

[haggisbasher]

Quick service Warka,i applied for my new 2010 password for my account yesterday,got e-mail from mr I this morning that the funds had been removed from account and i could loggon...now that was good....24hrs.last time it was more like a couple of weeks.......ALL I CAN SAY IS GO WARKA GO

[Thaiville]

Quick service Warka,i applied for my new 2010 password for my account yesterday,got e-mail from mr I this morning that the funds had been removed from account and i could loggon...now that was good....24hrs.last time it was more like a couple of weeks.......ALL I CAN SAY IS GO WARKA GO


Really? That is good news. I think if I need to move the money I will likely have a long wait if my stocks sell for a profit yet your post gives me that fuzzy feeling that 7 days is a possible outcome that is desirable like most offshore accounts make we wait.

Thanks for sharing.

[eddy22]

Any word when E-Remittance will be available again to do online transfers out of country? If not, is it okay to just email Mr I with details?

[alexander3]

Is anyone having trouble emailing warka i keep getting post as no delivery

[tmay]

When trying to login into my account it stated that my password had expired but it was on the 1st try, and I didn't fat-finger it. I then assumed someone somewhere inadvertently entered my account number and obviously had the wrong password which would have caused my password to expire.



When I brought the problem to the attention of Warka, I received the following reply. It would seem that Warka IT admins are instructed to set people's passwords as expired, without notice to the account holder. It never ceases to amaze me how Warka can change its operating rules again without notification to its customers.



Anyways just thought you should know and may want to test your login functionality, in case anyone wanted to do a quick transfer out of Warka in the near future. Ironically it would be a very expensive subscription if a change in the dinar's rate was forthcoming, well expensive for an account holder but a windfall for Warka. :wink:


This is the email from Mr. I.



__________________________________________________



Dear Sir,

Please provide us with a signed request that authotizes our bank to renew your online annual subscription deducting the fee from your account IQD 15000. Please indicate your account number in your request.

Best regards,






I received this message also then was informed I had a ZERO balance when I tried to get my new log in information! I hope they get this resolved!
(I had over 1.2 million IQD and $450.USD)

[tmorr37]

I received this message also then was informed I had a ZERO balance when I tried to get my new log in information! I hope they get this resolved!
(I had over 1.2 million IQD and $450.USD)

It all seems normal. Your yearly subscription has expired and needs to be renewed. You will find your money is all there.

[tmay]

It all seems normal. Your yearly subscription has expired and needs to be renewed. You will find your money is all there.

I hope your right because Mr. I told me I had to fund my account in order for the ebanking dept to get the 15000 IQD. I`m not too concerned yet as I only received 1 email stating this, and asked him to investigate. Maybe they had the wrong account number.

"Our e-banking department has informed me that your account holds a zero balance and to receive your online login details you need to fund your account covering the opening balances USD $150 and IQD 300000."

[eosirl2]

I hope your right because Mr. I told me I had to fund my account in order for the ebanking dept to get the 15000 IQD. I`m not too concerned yet as I only received 1 email stating this, and asked him to investigate. Maybe they had the wrong account number.

"Our e-banking department has informed me that your account holds a zero balance and to receive your online login details you need to fund your account covering the opening balances USD $150 and IQD 300000."

You money for whatever reason has been withdrawn and hence the Zero balance. I suspect that Mr I and the ebanking aren't looking at you account transaction history and that they are only looking at the present balance and therefore assuming the account has never been funded and then are incorrectly requesting you to fund it.

If you had at anytime previous ebanking access, and you printed/save a copy of you balance, a wise thing to do, you can send that information to prove you had a balance at one time and also request that they provide you a transactional history. Warka had in the passed misdeposited my cash deposits into other people's account. Any dealings with warka accounts, I keep my own excel file, so that if they screw up, they can reconcile the account.

It may be a situation that someone previously accessed your account and moved the money internally within Warka or outside. There should be a paper trail for Warka to resolve that issue and re credit your account.

[tmay]

Thanks eosirl2, I have the Western Union receipts and all the emails from Miss R and through out the years and have tracked my interest with ebanking so I`m sure (i hope) they will find what happened. I will request an account history.

[tmay]

Problem solved, like I suspected, the account number was wrong. Thanks for the input and score another plus for Mr I. He was very helpful and reassuring.