?'s on Warka Bank

[dinardude]

Hey All

I was wondering if someone could let me know if the info for Warka bank is still:
"Beneficiary name: Warka Investment Bank
Beneficiary account no: 0019583140201 (our account no in Housing Bank).
To be paid for: your name
A/C No.: your Dollar account no.
Warka Investment Bank-main branch
The Swift Code of Warka Investment Bank is: WAIVIQBA"

I got this info from Monty's post at a FAQ regarding Warka Bank which by the way is great. http://www.investorsiraq.com/showthread.php?t=410

I've been waiting some time to hear back from our friend Miss R about how to wire money to my account and still nothing. I received my account numbers and would like to start the whole process of wiring some money and I'm "chompin at the bit". I thought I would just go ahead and not wait if the above info is still correct.

Any help is appreciated and I do apologize if this question has been asked already elsewhere. If it has please send me to it. :)

[Blake]

It's still the same.

[dinardude]

Thanks, Blake I appreciate it. :wave:

[BRYAN]

Hey All

I was wondering if someone could let me know if the info for Warka bank is still:
"Beneficiary name: Warka Investment Bank
Beneficiary account no: 0019583140201 (our account no in Housing Bank).
To be paid for: your name
A/C No.: your Dollar account no.
Warka Investment Bank-main branch
The Swift Code of Warka Investment Bank is: WAIVIQBA"

I got this info from Monty's post at a FAQ regarding Warka Bank which by the way is great. http://www.investorsiraq.com/showthread.php?t=410

I've been waiting some time to hear back from our friend Miss R about how to wire money to my account and still nothing. I received my account numbers and would like to start the whole process of wiring some money and I'm "chompin at the bit". I thought I would just go ahead and not wait if the above info is still correct.

Any help is appreciated and I do apologize if this question has been asked already elsewhere. If it has please send me to it. :)
I sent my funds to the house of finance in jorden , My bank would not send directly to Iraq ( COMMERCE bank - NJ based ) However they took my funds and had a NY bank do the wire for me thru Commerce ( $30 fee and 1.5 days )

[bkewl]

I went to my bank with the following information written on a piece of paper. I handed the paper to the clerk and she took it from there.

First Bank to Receive:
Housing Bank for Trade and Finance
PO BOX 7693
AMMAN 11118 JORDAN
Swift code: HBHOJOAX

Destination:
Alwarka Investment Bank
Gaghdad - Iraq
Hay Alwihda - SEC 902 - 14th St BLDG 50
PO BOX 3559 ELWIYA
Swift code: WAIVIQBA

Beneficiary Name: Alwarka Investment Bank
Beneficiary Account: 0019583140201
To be paid to: (Your Name Here)
Account: (Your USD account number at Alwarka)

My bank charged $50USD to wire the funds. I asked if they had an assoicate bank they could use. I was told they'd have to hold off doing the wire transfer and look into it for me. About an hour later the bank called saying they completed the wire transfer via another bank and the charge was $12USD not $50USD.

Now, my disclaimer: The above is what worked for me. I can not guarantee the same for you.

Good luck!

p.s. if you want to test the above process out I'll gladly give you my bank info :)

[Dinarted]

I dont suppose you can access your Al-warka bank account online...If not I am sure that you would be able to sometime in the future.



Dinarted

My Bart simpson is not animating darn it! He is supposed to moon everyone!

[bkewl]

At this time, Alwarka does not have on-line banking. R had told me via email that this will be available sometime in the future. I do not have an update on this.

[dinardude]

I went to my bank with the following information written on a piece of paper. I handed the paper to the clerk and she took it from there.

First Bank to Receive:
Housing Bank for Trade and Finance
PO BOX 7693
AMMAN 11118 JORDAN
Swift code: HBHOJOAX

Destination:
Alwarka Investment Bank
Gaghdad - Iraq
Hay Alwihda - SEC 902 - 14th St BLDG 50
PO BOX 3559 ELWIYA
Swift code: WAIVIQBA

Beneficiary Name: Alwarka Investment Bank
Beneficiary Account: 0019583140201
To be paid to: (Your Name Here)
Account: (Your USD account number at Alwarka)

My bank charged $50USD to wire the funds. I asked if they had an assoicate bank they could use. I was told they'd have to hold off doing the wire transfer and look into it for me. About an hour later the bank called saying they completed the wire transfer via another bank and the charge was $12USD not $50USD.

Now, my disclaimer: The above is what worked for me. I can not guarantee the same for you.

Good luck!

p.s. if you want to test the above process out I'll gladly give you my bank info :)

This at least gets me headed in the right direction. Could you explain the whole associate bank thing to me? Why was it cheaper? I've never wired money to another country before. :o

P.S. I promise I won't hold you liable if it doesn't work... and oh I'm sure you would love to have me test it out. :drunk:

[bkewl]

In non banking terms, banks belong to associations which allow you to do your banking at a completely different bank. For example I bank at XYZ savings and loan. Bank ABC participates in the same association. This allows me to got to Bank ABC which is closer to me to do my banking transactions. Bank ABC can access my account at XYZ.

Make sense?

Anyways, my bank checked the international wire transfer fees at other banks and found one that only charges $12.00 They called that bank and asked them to do the wire transfer. This saved me $38.00 Great customer service :)

J.P. Morgan was the bank used. In this case, J.P. Morgan is called a connecting bank.

Hope this help to clarify.

My previous offer still stands! (hehehe)

[wing]

Is it even legal to wire money to iraq? I remember having read somewhere that wiring money to iran, iraq, libya etc was prohibited.

[Blake]

I just called Fleet(my bank) again an asked their intn'l wire transfer dept if they had any such associate bank that could perform the transfer to Iraq for me, and after giving somewhat contradictory answers, they said no, but in the near future they could.

I need a new bank.

[dinardude]

In non banking terms, banks belong to associations which allow you to do your banking at a completely different bank. For example I bank at XYZ savings and loan. Bank ABC participates in the same association. This allows me to got to Bank ABC which is closer to me to do my banking transactions. Bank ABC can access my account at XYZ.

Make sense?

Anyways, my bank checked the international wire transfer fees at other banks and found one that only charges $12.00 They called that bank and asked them to do the wire transfer. This saved me $38.00 Great customer service :)

J.P. Morgan was the bank used. In this case, J.P. Morgan is called a connecting bank.

Hope this help to clarify.

My previous offer still stands! (hehehe)


Hey Bkewl...thanks for using simple terms...sometimes that's what it takes...I think I understand. That is great customer service, I was wondering why they didn't take your money I know my bank doesn't hesitate to squeeze all the money they can out of me :mad: