Benefits of a Warka Account

[DinarWhiz]

Can someone please tell me the benefits of a Warka account Pre RV and Post RV.

[haymon]

It's the ability to have diversified investments in Iraq, besides holding their currency. With money in a savings or CD account, one makes more interest earnings than we do in USA, also allows one to open a ISX Iraq stock exchange, and buy stock in companies BEFORE the increase in valve. As the country develops more, gets rebuilt,and gets modernized more, being on the ground floor as this happens, will be beneficial. If your only interest is cashing in, don't bother.

As always only my,

[pspencer]

Great explanation haymon! Wow, where did you learn all this... You are a pretty smart cookie...

Oh... By the way... Tag... Your it!

[haymon]

Pspencer.Good to see you on the board!

I have a great mentor. :-)

[coorslite21]

All I can add is that if somehow Iraq decides to do a "In Country RV" only.......excluding everyone outside the borders......(which seems unlikely).......then with a Warka account you would still be apart of the event.....so a Warka account can also be looked at as a safety net protecting you from that possibility...

[haymon]

REMEMBER.. Every thing related to Warka, checking, savings, CD's, and ISX is totally transparent to USA. Reporting all will need to be done.

[DinarWhiz]

Thanks guys. I think I will just toy with the ISX a little. I am all setup with my hard currency and I think that a hobby with the ISX will be fun. Again Thanks

[MD34]

As well, if the value goes up in increments the way many are thinking, you shouldn't have a forced cash in situation and can ride it as long as you choose.

[DinarWhiz]

As well, if the value goes up in increments the way many are thinking, you shouldn't have a forced cash in situation and can ride it as long as you choose.

Since it is electronic? Am I correct when saying this

[MD34]

That's my understanding. Since it's not a physical note it shouldn't expire. If & when the dinar moves up, down, side ways or diagonal the money would behave accordingly to market events.

I

[DinarWhiz]

Now I am just waiting for a confirm email , that they got my info.

[MD34]

Be patient & persistent and it'll be fine.

[matthew6:19-21]

That's my understanding. Since it's not a physical note it shouldn't expire. If & when the dinar moves up, down, side ways or diagonal the money would behave accordingly to market events.

I

Yes, probably the biggest advantage of a warka account. Thats why I have one anyhow.

[BrokeNoMore]

Warka accounts are bank accounts. It's digital money, just like at your local Wells Fargo.

If there is an in-country RV, your dinar will be in-country. We don't expect that, but your money is IN Iraq.

If there is a limited cash-in window for physical currency, digital money will not be affected.

The worst part by far is waiting for them to handle requests. Almost a month after account was open and funded to get a request for internet access answered, repeated emails. Communication and customer service is definitely a problem. Due to other statements made on the board, and the swift answer to open my accounts in the first place, and an email after they received my first wire, I thought they had this lousy service problem fixed. After that, they ignored me.

Advice concerning communication: Always be polite. I always started my emails with "I am so honored to be a customer of your fine bank." I smeared it on really thick because I thought it might help.

Send all requests to the appropriate department and CC Mr. Mohammad Issa. I don't know why this helps. I recommend resending the email, with a new note attached at the beginning of their business day, every 2 business days. Waiting longer than that...and you'll just fall thru the crack.

I finally got an answer from Mr. Issa that he forwarded my request to the c.accounts@warka-bank-iq.com so I emailed them after 2 days with Mr. Issa's email attached. They ignored me still. Two days later I sent them another request, but this time to "just please confirm receipt of the last wire to ease my comfort in sending another" and CC'd Mr. Issa, and within an hour he sent me the access. Interesting to note that they never seem to answer the current email, they seem to dig for the old one, implying that your continued emailing doesn't make a difference, IFOF. I don't think that's true. When I have just waited for weeks...nothing.

When I first started this thing I *hoped* I had time to set up and fund a Warka account. I *hope* you still do too. We probably have plenty of time left. *sigh*

One important note: They will probably send you wiring info to Germany, requiring those in the US to spend for an international wire. You can save $$ when you wire to Citibank in NY, and just scan the Warka threads for the details, but use your own account number. I have not tried it myself yet, but plenty of others have and it saves me $35 per wire. And it's faster.

[Goldiegirl]

BrokeNoMore, that's great you finally got access!!! We should celebrate!!! I had to email Mr. Issa about mine as well but it didn't take a month. Pesistance is the key.

I found that my German wire does reach Warka in 3 days but it takes another 4 for Warka to move it from the balance amount to available amount so you can perform the transfer from USD to IQD.

I also agree don't keep sending new emails. Reply back with the ones they replied to you. Even if you have addiitonal information to add like attachements. It shows the history in that email for them.

[757]

BrokeNoMore, that's great you finally got access!!! We should celebrate!!! I had to email Mr. Issa about mine as well but it didn't take a month. Pesistance is the key.

I found that my German wire does reach Warka in 3 days but it takes another 4 for Warka to move it from the balance amount to available amount so you can perform the transfer from USD to IQD.

I also agree don't keep sending new emails. Reply back with the ones they replied to you. Even if you have addiitonal information to add like attachements. It shows the history in that email for them.

Goldiegirl, have you thought of just wiring directly to your IQD account. I think I am going to try to do it that way next time, so I don't have to wait to do the internal transfer. 757

[DinarWhiz]

Warka accounts are bank accounts. It's digital money, just like at your local Wells Fargo.

If there is an in-country RV, your dinar will be in-country. We don't expect that, but your money is IN Iraq.

If there is a limited cash-in window for physical currency, digital money will not be affected.

The worst part by far is waiting for them to handle requests. Almost a month after account was open and funded to get a request for internet access answered, repeated emails. Communication and customer service is definitely a problem. Due to other statements made on the board, and the swift answer to open my accounts in the first place, and an email after they received my first wire, I thought they had this lousy service problem fixed. After that, they ignored me.

Advice concerning communication: Always be polite. I always started my emails with "I am so honored to be a customer of your fine bank." I smeared it on really thick because I thought it might help.

Send all requests to the appropriate department and CC Mr. Mohammad Issa. I don't know why this helps. I recommend resending the email, with a new note attached at the beginning of their business day, every 2 business days. Waiting longer than that...and you'll just fall thru the crack.

I finally got an answer from Mr. Issa that he forwarded my request to the c.accounts@warka-bank-iq.com so I emailed them after 2 days with Mr. Issa's email attached. They ignored me still. Two days later I sent them another request, but this time to "just please confirm receipt of the last wire to ease my comfort in sending another" and CC'd Mr. Issa, and within an hour he sent me the access. Interesting to note that they never seem to answer the current email, they seem to dig for the old one, implying that your continued emailing doesn't make a difference, IFOF. I don't think that's true. When I have just waited for weeks...nothing.

When I first started this thing I *hoped* I had time to set up and fund a Warka account. I *hope* you still do too. We probably have plenty of time left. *sigh*

One important note: They will probably send you wiring info to Germany, requiring those in the US to spend for an international wire. You can save $$ when you wire to Citibank in NY, and just scan the Warka threads for the details, but use your own account number. I have not tried it myself yet, but plenty of others have and it saves me $35 per wire. And it's faster.

Thank you so much.

[Goldiegirl]

Goldiegirl, have you thought of just wiring directly to your IQD account. I think I am going to try to do it that way next time, so I don't have to wait to do the internal transfer. 757

No I haven't tried that. I think you just need to put your IQD account instead of the USD account in the special instructions.

I don't know if that is what BrokeNoMore did. Perhaps he will respond to this and tell us.