((Read!)) How To Open A Warka Investment Bank Savings Account...

[AAD]

How To Open A Warka Investment Bank Savings Account

Last updated: 10/27/2009

[NOTE: Warka was the trend-setter but it is now not the only bank in Iraq willing to do business with foreigners, I cannot provide you with bank requirements from other banks as I don't do business with them. But please don't let that stop you from checking out the competition and doing your own due diligence. Simply go to the official Cbi.Iq site, look at the bank list and contact those banks as to what procedures they may require from you.]

If you acquire an account at Warka Investment Bank keep in mind that they do not necessarily condone mailing of funds/currency to their bank. Doing so may risk complete loss of your funds or full confiscation by Customs agents and Warka Investment Bank will not be held responsible. Bank wires are the only officially accepted way of funding any acquired Warka Investment Bank account. If you are still set on mailing your IQD, please divide your quantities into smaller shipments and use Fedex as your carrier. See the " Mail Funds To Warka Investment Bank" attachment at the bottom of this post.

For information on wiring funds to Warka Bank go to: How To Wire Funds Into/Out Of Your Warka Investment Bank Account

All USD and IQD Warka Bank accounts established after July 22, 2007 must maintain a minimum balance of $150 dollars in their USD account and 300,000 dinars in their IQD account. Also keep in mind that it may take up to a week or more to get your account setup confirmation eMail.

For the latest fees and or account interest rates please use the following link: Warka-Bank.com

Interest Paid Annually on Warka Bank Savings Accounts.
USD Savings Accounts = 4% yearly percent rate.
IQD Savings Accounts = 7% yearly percent rate.

Remittance fees = 0.125% for each incoming wire transfer.
Swift charges = $50 USD for sending an outgoing wire transfer from our bank.

Open USD account = $2 USD which is a one time fee.
Open IQD account = 2,000 IQD which is a one time fee.

USD account statement = $2 USD which will be charged only if you request your USD statement.
IQD account statement = 2,000 IQD which will be charged only if you request your IQD statement.

Transfer between Dinar accounts = 1,000 IQD which will be charged whenever such a transfer is made.
Transfer between Dollar accounts = $2 USD which will be charged whenever such a transfer is made.

The purchase of IQD will be according to the rate set by the Central Bank of Iraq on that particular day.


-> To open an account online go to the following link and have an image copy of your Passport or Driver License/State ID ready and fill out their online form. Warka-Bank.com


-> To open an account through eMail with a request/consent form that you will need to copy, paste, and print it out. You can download and print an account request form by clicking the attachment at the bottom of this post. Fill it and signed it. Now scan and save it as a JPG image or PDF file. Attach that JPG or PDF file along with a JPG scanned image of your Passport or Driver License/State ID into your account request eMail and send it to Mr. I. at IFRD@Warka-Bank-Iq.com

Here’s an example eMail for a Warka Investment Bank account request:


Hello,

Please open a USD and IQD savings account at Warka Investment Bank on my behalf. Attached to this eMail is my appropriate ID and a signed authorization letter.

Thank You,


If you don't have a scanner, please go to your nearest copy/printing shop and they can help you save it onto a disk:


I, _________________________ authorize Warka Investment Bank to withdraw from my USD Savings Account at Warka Investment Bank and exchange the US Dollars into Iraqi Dinars according to the price fixed by the Central Bank of Iraq at that day, and then deposit those funds into my IQD Savings Account at Warka Investment Bank.


Party in full agreement, signed below.



____________________________________ Date_________
(Print Your Name)



__________________________________________________
(Your Address)



___________________________________
(Your eMail Address)



___________________________________
(Your Signature)

__________________________________________________ ________________________

NOTE: Opening a Warka Investment Bank account is free but if you do not fund your account within six months, your account will be closed. Make sure that your ISP/eMail service won’t block Warka’s eMails, so check your spam filters. You can contact IFRD@Warka-Bank-Iq.com regarding any personal and important account issues.

None of the above is to be taken as financial or legal advice... - AAD

____________________________Important_____________ ________________
Whenever eMailing Warka Investment Bank for whatever important issue, do it around their business hours and preferably in the morning 8-11am Sun-Thurs Iraqi time. Never send them more than one email per day, just be patient for a response. Sometimes Warka Investment Bank may be very busy and what should normally take a few days, can take a week or more. If you also factor in any holidays in Iraq (and Germany if wiring funds) those can also delay the response process. Please don't drown them with eMails because this in the end will affect everyone's response time. Remember for common questions/tips you can always simply ask them here at the forum instead of eMailing Warka with non crucial questions. You can check the current Baghdad time before eMailing them:

www.timeanddate.com/worldclock/city.html?n=27

Warka Investment Bank Contact eMail Addresses

For any information concerning international foreign banking relations:
IFRD@Warka-Bank-Iq.com

For any information concerning banking customer services:
C.Services@Warka-Bank-Iq.com

For any information concerning opening an account at any Warka Bank branches:
C.Accounts@Warka-Bank-Iq.com

For any general information you need to ask Warka Bank about:
Info@WarkaInvestmentBank.com

For any information concerning the Iraq stock exchange (ISX):
ISX@Warka-Bank-Iq.com

For any information concerning Warka online banking:
e-Bank@Warka-Bank-Iq.com

For any information concerning wire transfers:
MT@WarkaInvestmentBank.com

For any information concerning credit cards (VISA/MASTERCARD):
CC@WarkaInvestmentBank.com

Official Warka Investment Bank Websites

www.Warka-Bank.com

www.WarkaInvestmentBank.com/contact_us.htm

I wish you the best of luck and prosperity...

[WheresDinar]

I want to open a Warka savings account so that I can open a CD. The attached form from above doesn't ask for a Social Security Number, just a copy of a Passport or Driver License. Should I include the the SSN with the savings account request form? If I don't would slow everything down?

[AAD]

Originally Posted by WheresDinar

I want to open a Warka savings account so that I can open a CD. The attached form from above doesn't ask for a Social Security Number, just a copy of a Passport or Driver License. Should I include the the SSN with the savings account request form? If I don't would slow everything down?

Your SSN number is not required/used at all and it will not make the setup any faster...

[Garf]

Originally Posted by AAD

Your SSN number is not required/used at all and it will not make the setup any faster...

It's a photo ID they require... passport, licence or ID card etc.

Note that Warka announced a series of new e-mail addresses recently:

Mr I ifrd@warka-bank-iq.com

ISX isx@warka-bank-iq.com

Customer Services c.services@warka-bank-iq.com

Customer Accounts c.accounts@warka-bank-iq.com

I'd use Mr I's e-mail ;)

Remember also that when contacting them, not all ISP's make it through to Iraq. I tried several but found Yahoo Mail to work. Others have had success with Hotmail and Gmail.

[skismenos_78]

Does any one have a link on how to purchase stocks on the isx. Like a step by step I am so lost. I have been reading these posts but I still don't get it. I have a savings account with warka already. I was wondering what do I need to do and if someone has some if on what stocks i should be looking @. If some could post or PM me that would make my day. Good luck 2 all of us!!!!

[giacos]

Sorry but I'm Italian as you send email warka bank? I can not send email is not recognized by the server

[AAD]

Originally Posted by skismenos_78

Does any one have a link on how to purchase stocks on the isx. Like a step by step I am so lost. I have been reading these posts but I still don't get it. I have a savings account with warka already. I was wondering what do I need to do and if someone has some if on what stocks i should be looking @. If some could post or PM me that would make my day. Good luck 2 all of us!!!!

http://www.investorsiraq.com/showpos...83&postcount=4 Or http://www.investorsiraq.com/forumdisplay.php?f=83

Good luck...

Originally Posted by giacos

Sorry but I'm Italian as you send email warka bank? I can not send email is not recognized by the server

Perhaps your ISP filters are causing a problem, also make sure that the Warka email address is indeed correct as you input it...

C.Accounts@Warka-Bank-Iq.com Or IFRD@Warka-Bank-Iq.com

[cirujano17]

Dear fellows,

I have sent several e-mails to Mr. I new e-mail address and any answer has been received. In fact, I has been requesting my id and password information after I succesfully opened a Warka account. It has passed almost a month since I has been attempting for that. Does any one know any other better way may I use?

[Garf]

Originally Posted by cirujano17

Dear fellows,

I have sent several e-mails to Mr. I new e-mail address and any answer has been received. In fact, I has been requesting my id and password information after I succesfully opened a Warka account. It has passed almost a month since I has been attempting for that. Does any one know any other better way may I use?

Try again... they have had holidays recently.

[lndmn_01]

Originally Posted by cirujano17

Dear fellows,

I have sent several e-mails to Mr. I new e-mail address and any answer has been received. In fact, I has been requesting my id and password information after I succesfully opened a Warka account. It has passed almost a month since I has been attempting for that. Does any one know any other better way may I use?

Try with another email address. For some reason some services block the emails from warka

[inv24]

i've been waiting for more then 2 weeks but no reply or anything i'll wait a bit longer..;p

[giacos]

There are Italian or that speak Italian in this forum that can Help Me? Thanks

[DPR]

Ok folks I need some help. I know this is old stuff for most of you, I tried to get an account with Warka on there website but had no idea what to put in the profissional blank. Is this the way to go or do I just need to copy and paste the letter from earlier post. I hope there is still someone willing to help a newbe, I've been stockpilling dinar in my closet not knowing about Warka's cds and sxi. I've got alot of catching up to do and hopefully a short time to do it!!! I would like to know what that blank for "profissional" means.

[Panther]

Can someone post the mailing address for sending a Fedex to Warka?

[BNZI]

Originally Posted by Panther

Can someone post the mailing address for sending a Fedex to Warka?

Good call, I'll be needing this soon for my ISX paperwork. Might send a small amount of Dinar in with it as well.

[James]

Mr. I ( use his full name - edited for safety reasons)
Warak Bank - Main Branch
Hay Alwihda - Sec. 902 - 14th Street
Elwiya Bldg. 50
Baghdad, Iraq

Shipping information: Document Value $1.00 (you have to say it's not valued but at $1.00)

Don't tell Fed Ex your sending dinars. I said it was documents. I had my dinar in an envelope with my letter wrapping them up, so it looked like an ordinary envelope. I used a brown envelope and put it into their envelope to keep anyone from seeing my dinar.

Cost from NC to send 2 packages was $121
The envelope you will use is International Priority.

I have also used UPS and the cost was about the same.

All my packages reached Warak safely.

[Ridewithme38]

arn't there fees associated with online access to these accounts...I think the Newb's should know this too Minimum of 150 in USD and 300,000 in Dinar accounts but there are fees so you have to keep funding them

[BNZI]

Originally Posted by James

Mr. I (use his full name - edited for safety reasons)
Warak Bank - Main Branch
Hay Alwihda - Sec. 902 - 14th Street
Elwiya Bldg. 50
Baghdad, Iraq

Shipping information: Document Value $1.00 (you have to say it's not valued but at $1.00)

Don't tell Fed Ex your sending dinars. I said it was documents. I had my dinar in an envelope with my letter wrapping them up, so it looked like an ordinary envelope. I used a brown envelope and put it into their envelope to keep anyone from seeing my dinar.

Cost from NC to send 2 packages was $121
The envelope you will use is International Priority.

I have also used UPS and the cost was about the same.

All my packages reached Warak safely.

Thanks (again) James.

[I AM]

Originally Posted by Ridewithme38

arn't there fees associated with online access to these accounts...I think the Newb's should know this too Minimum of 150 in USD and 300,000 in Dinar accounts but there are fees so you have to keep funding them

If you have a CD, does that count for the 300K dinar? Or does that have to be "cash"?

[rokjax]

I addressed my email to "Mr. I" and didn't use full name, is that ok??? Also approx how long does it take to get a response via email?