advantages to Warka acct?

[hopingforrv]

I know this information has been posted before but now I can't seem to find it....and I apologize if this isn't the right place to post this question. My question is this: since it seems that it will be difficult to cash in dinar in large quantities in the event of a reval (or, God forbid, a lop) would opening a Warka account be of advantage? Are there any obstacles to doing this (located in US, no plans to fly to Iraq anytime soon) and how would I get the existing dinar I am holding to Warka for deposit? Ok, now..if I open the account and the reval happens how would I cash out? In other words, would Warka cut me a bank check in USD? Thanks in advance.

[BNZI]

I know this information has been posted before but now I can't seem to find it....and I apologize if this isn't the right place to post this question. My question is this: since it seems that it will be difficult to cash in dinar in large quantities in the event of a reval (or, God forbid, a lop) would opening a Warka account be of advantage? Are there any obstacles to doing this (located in US, no plans to fly to Iraq anytime soon) and how would I get the existing dinar I am holding to Warka for deposit? Ok, now..if I open the account and the reval happens how would I cash out? In other words, would Warka cut me a bank check in USD? Thanks in advance.

Maybe Pros and cons to cash and Warka as they both carry risks. Up to 12% interest has to be a pro!

Sell it on Ebay and wire transfer the funds to Warka. Fed Ex the money to Warka. Fed Ex is a bit risky, but so is this whole venture!

If you pay 15'000IQD per year you can access Warka's online service. You can log into your account and withdraw money back to your US account.

[cowpoke]

Sending physical Dinars to Warka:
http://www.investorsiraq.com/showthr...ht=fedex+warka

[War Eagle]

I have sent 3 million dinars to Walka via Fedex on 7 different occassions,without any problems.

[RoyalBeluga]

Why are people sending Dinars to Warka? Why don't you just FEDEX USD instead?

[cowpoke]

Why are people sending Dinars to Warka? Why don't you just FEDEX USD instead?

Because they already purchased the Dinars.

[Joetricky]

I have just done this. I went online to the warka website. I opened an account online and then used DHL to send off my dinar. Cost £24. I was able to track the package and I now have had confirmation that it has been deposited. The whole thing took 4 days.
You can not officially send cash by this means and have to describe your package as containing 'bank documents'. Not a lie I suppose. However it also means that you can't insure your package. The warka bank staff have been excellent and I wish they could give lessons in customer service to bank staff here in the UK.
At 12% interest its a good deal.
I won't go into any other aspects of the pros and cons as it will open a hornets nest on here ha ha.

[Hue Mi]

Recent posts on IIF state outdated interest rates at WBIF. The current rates are;

http://www.warka-bank.com/inner.php?...b8e4340c47fbcc

Interest Paid Annually on Savings Accounts:

1. IQD savings accounts: 8% per year.
2. USD savings accounts: 4% per year.

Certificate of Deposits (IQD):

1. 3 months CD: 9%.
2. 6 months CD: 10%.
3. 1 year CD: 11%.

Certificate of Deposits (USD):

1. 
   
   1. 6 months CD: 4.5%.
   2. 1 year CD: 5.5%
   
   

[john11]

Don't forget - someone will want taxes paid on your interest....I bought mine back in '04 - just kept the notes - they have gone up about 10% since then (www.oanda.com) ...you can travel with cash as long as the value is less than $10k...also...if the Iraqi Govt decides to change the notes again (they have noticed the foreign speculation), who knows what the rules would be to redeem the old notes for the new?....have to be there in person???...still have a ways to go (years - I am guessing at least 4) before any substantial appreciation, there is still the economic dance they have to do with the World Bank before the currency is traded internationally....

[brian308]

Hey Joe,
I went on line opened an account 2 1/2 weeks ago ,and no response. I sent an email , and no reply . Do you have a good email contact.

Thanks

[St Croix]

Go to <c.accounts@warka-bank-iq.com> they have been great and it only took me a day or two to open a Dinar and USD account. All you have to do is send them your name, address, phone and signature and then a copy of your passport and drivers license.

[Chaka]

this is why i would never mail notes to iraq , sell off and wire cash.


Iraq: Plane chartered by FedEx crashes
2008-11-13 22:47:02 -


BAGHDAD (AP) - A Russian-made cargo plane chartered by FedEx crashed Thursday west of Baghdad after reporting a malfunction, the U.S. military said. It ruled out hostile fire and said the crew was presumed dead.
The An-12 plane with up to seven crew members _ none of them American _ was flying from al-Asad air base
to Baghdad International Airport when it lost radio contact and crashed at about 11:35 a.m. (0835 GMT), the military said. The crash happened south of Fallujah, where insurgents once held sway, but the military said mechanical failure or pilot error was the likely cause.
«It looks like everybody was lost but I can't confirm that. The investigation will determine that,» U.S. military spokesman Capt. Charles Calio said.
Iraqi police in Fallujah said no shooting was reported at the time of the crash.
In a statement, FedEx said it was aware that an aircraft operated by one of its contractors to carry FedEx Express cargo could not be located on radar and had been out of radio contact since 10:45 a.m. (0745 GMT).
«FedEx is closely monitoring the situation and is working with the contractor to investigate the situation,» the statement said. «Our foremost priority is the safety and welfare of the pilot and crew.
The U.S. logistics company said the aircraft had originally come from Dubai in the United Arab Emirates.
Associated Press writers Sameer N. Yacoub and Hamid Ahmed contributed to this report.


http://www.pr-inside.com/iraq-plane-...es-r915453.htm

[VacationSpot]

Go to <c.accounts@warka-bank-iq.com> they have been great and it only took me a day or two to open a Dinar and USD account. All you have to do is send them your name, address, phone and signature and then a copy of your passport and drivers license.

Thank link did not work, any other suggestions on how to open an account?

[hopingforrv]

http://www.warka-bank.com/index.php

Follow the links to individual account

Thank link did not work, any other suggestions on how to open an account?

[Joetricky]

Hey Joe,
I went on line opened an account 2 1/2 weeks ago ,and no response. I sent an email , and no reply . Do you have a good email contact.

Thanks

I ust went into the site and clicked onto the 'open private account' box. I then registered as an 'alien' investor and followed the instuctions. I emailed Mr I as stated on the site asking for an address and on reply shipped off my cash. It really was as easy as my earlier post explained.

[orfannkyl]

what about the isx?

[Invest4later]

hopingforrv ,
Hello From California ... ...

]I'm Afraid Pretty Darn HOT California Right Now With Our Wild Fires .. Just Heard 1000 Homes Lost .. And Counting ..
Please PRAY For Us ... And The Unfortunate Souls That Have Lost Their Homes And Pretty Much Everything They Own !

FYI .. I Have Sent At Least 8 Fedex Packages To Warka Bank ....
For A TOTAL Of Around 8 Million Dinar ... ( Last One Was Around 1 Month Ago
... 2.4 Million ... Made It JUST FINE .. NEVER HAVE HAD A PROBLEM ! PERIOD!
EVERY SINGLE DINAR Was Counted And Deposited .. Never Lost Even ONE DINAR ....
Now THAT'S HONESTY !! ...
Mr I Will Take Care Of You ALL THE WAY ... Not To Worry .

Hope This Helps You ...

Bless Your New Day !
Invest4Later

[Grizzlies #62]

I set up an account with Warka, and they responded in an email that I can Fedex my currency as an option to a wire transfer. I live in Alaska and there are no banks that deal with Dinar up here. I called Fedex Internaitonal Customer Service today and they stated that it is illegal to ship currency, U.S. or other country. I know for a fact that this currency is sent via Fedex, UPS and the USPS. Am i missing something here? I told the gentleman I spoke with that he was wrong, he put me on hold and came back and said the same thing. Any help out there???????????

[NotAPHD]

I set up an account with Warka, and they responded in an email that I can Fedex my currency as an option to a wire transfer. I live in Alaska and there are no banks that deal with Dinar up here. I called Fedex Internaitonal Customer Service today and they stated that it is illegal to ship currency, U.S. or other country. I know for a fact that this currency is sent via Fedex, UPS and the USPS. Am i missing something here? I told the gentleman I spoke with that he was wrong, he put me on hold and came back and said the same thing. Any help out there???????????

If you even breathed you're dealing with Iraq it's like a red flag to US/UK institutions. They won't deal with Iraqi banks yet.

What you do is send your dinar (physical) via Fedex labelled "bank documents" - don't mention "cash" - to Warka in Iraq. Your mistake was phoning Fedex to tell them your intentions. Unfortunately, you shouldn't, because there are rules in place for the shifting of physical monies, although it is still done everyday for no other reason than to buy into foreign shares or stock/accounts. Technically, putting "bank documents" on your packet is not a lie because with covering info it is bank documents. You just can't insure your package because you can't say it's money. Better to bank wire USD to Germany Warka (which is legal) and have them convert the money but failing that, the above will do.

[RoyalNorthBeach]

I set up an account with Warka, and they responded in an email that I can Fedex my currency as an option to a wire transfer. I live in Alaska and there are no banks that deal with Dinar up here. I called Fedex Internaitonal Customer Service today and they stated that it is illegal to ship currency, U.S. or other country. I know for a fact that this currency is sent via Fedex, UPS and the USPS. Am i missing something here? I told the gentleman I spoke with that he was wrong, he put me on hold and came back and said the same thing. Any help out there???????????

Fed Ex won't do currency anymore (I use to get it from them/DinarTrade and a new guy came on board and told me) only UPS will. That's why their saying "bank documents" now.