Full Service Banks?

[RogerL]

So many of us are opening bank accounts in Iraq. In a question somewhat related to those already on these boards, I wonder what services are available at these banks.

For instance, do they or will they allow you to see your account details on a website?

Can you request money to be immediately converted from dinar to dollars and transfer them to your dollar account *WHEN* the dinar hits? :)

Can you request your resultant dollars to be wired back to your bank in the United States (or wherever you happen to be)?

Do these banks have direct phone numbers where we can talk to a person and request these services if a website is not available?

The most important issue to me is how fast a response I can get from the bank for what I want done. If I have to send a fax or snail mail to get things done, lots of things can happen before my request goes through. Stocks go up and down quickly in a matter of seconds. If it takes five days, for instance, to buy or sell a stock, by the time the transaction happens, the buying opportunity or stop loss may be gone.

Seems I'll need answers to these kind of questions before I can consider opening a bank account in Iraq.

[Marilyn]

Phone Number is on the website

http://www.alwarkabank.com/index2.html

[Jeffrey]

Yes, the phone number is on the site...but unless you speak arabic, its a wasted call. I called them yesterday (twice) and got the same person. I was asking for Miss Rannda because I assume she speaks english since she can write it, but the guy couldnt understand who I was asking for or what I was asking. You can try it and maybe have better luck. When I emailed my info I asked them to please provide me with Miss Rannda's extension...time will tell :rolleye03

[RogerL]

I've noticed that people seem to be concentrating exclusively on Warka Bank. Is that because it's a better bank, or just that it's easier to open an account there?

I seem to remember a few other banks mentioned last week, but since then, all conversation seems to have centered around Al Warka.

[fsm75]

I've noticed that people seem to be concentrating exclusively on Warka Bank. Is that because it's a better bank, or just that it's easier to open an account there?

I seem to remember a few other banks mentioned last week, but since then, all conversation seems to have centered around Al Warka.
Warka is the only bank that has responded to our inquiries.

[BRYAN]

I called HSBC Bank today in Delaware -the International branch . I asked if HSBC bank now holds 51% of dar alsalam bank > He said no he had no idea , but told me it was an false rumor . I don't know if I believe him , or mabey he isn't alloud to devulge this information . However I did ask him if HSBC does do forgien currency trading and he replied" YES " and that HSBC is the 2nd largest currency trader in the world . Tommorrow I wil start a account with HSBC here in the USA . Actually in Phila . This will allow me to also have funds ready for investment in Iraq or currency trading with dinars when they are able to do this . I feel HSBC is by far better bank . This is just my opion and I don't recomend this for everyone . For me , I just want to cover every possilbe problem I can think up , with a solution . I will call Londen , England To HSBC Main Office after 2am to see if I can get some fresh information on the subject . I will only relay information that is only usefull , truthful for this risky adventure . :wave:

[Roger]

We also opened an account 2 weeks ago with the south Florida branch ( I think there are 5 or 6 down there ).

[BRYAN]

We also opened an account 2 weeks ago with the south Florida branch ( I think there are 5 or 6 down there ).
Are you thinking like me ?? :wave:

[Psycho for Dinar]

Can you supply information on a contact for HSBC? THANK YOU!!! :wave:

[iraqidinar2005]

I am initially inclined to go with HSBC as well due to their availability here in Bahrain as well as the states. The only thing aside from fee comparison that I question is whether or not HSBC will 1) be able to operate in Iraq. (They were given one year to take Iraq up on their offer) and 2) will you be able to email HSBC and have them purchase X amount of Baghdad soda for you once foriegn investment is allowed in?

Al Warka on the other hand is in Iraq and can place my orders, however, my only contact with them is via the Internet. What if there comes a day when I want to withdraw large sums of cash or close my account! Would I have to be present to sign some forms first hand?

Again, I have not had the opportunity to research this completely as of yet.

EW

[kujikiri]

Perhaps once an account is established a good test would be to see if some money could be gotten back out of Iraq.

[BRYAN]

I am initially inclined to go with HSBC as well due to their availability here in Bahrain as well as the states. The only thing aside from fee comparison that I question is whether or not HSBC will 1) be able to operate in Iraq. (They were given one year to take Iraq up on their offer) and 2) will you be able to email HSBC and have them purchase X amount of Baghdad soda for you once foriegn investment is allowed in?

Al Warka on the other hand is in Iraq and can place my orders, however, my only contact with them is via the Internet. What if there comes a day when I want to withdraw large sums of cash or close my account! Would I have to be present to sign some forms first hand?

Again, I have not had the opportunity to research this completely as of yet.

EWI was HSBC Bank today here in Phila. > I was on the phone for hrs and drove for 4 . I was not able to set up a account exculisively for foreign currency trading ( put funds into an account as described as Warka would do ) However you can open a personal account with a min . balance or a commercial account which requires a higher balance . HSBC customer service will direct you to the branch nearest to you and would be able to decribe the services available to a customer . I was dissapointed after I was told over the phone that they did do currency trading , But was missunderstood for currency exchanging . I inquired about HSBC in Iraq the involvement with Dar alsalam bank ( no comment - no information ) AS far as the manager at the branch knew Iraq was on the list of non traded currency . I will call Londen on sunday morn . to see if I hit a dead end or not .