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Bank account interest time is almost here

birelkart

By birelkart,
in Warka and Iraqi Banking

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phlip Newbie

phlip

Posted
Posted

You’re right, time to log on to Warka and use your e-banking ID and password to view and print (or create a pdf copy to save paper) of your latest Warka balances in IQD and USD.

 

Then you’ll be ready to log on again sometime after the New Year starts to check the interest you’ve earned since June 30th 2013.

It’s due by year’s end and the Warka staff has typically been early with distribution ~ usually just before they take their own New Year’s holiday.

 

While you’re logged on, you might make a note of when your e-banking subscription expires.

That date is in one of the lower right blue boxes on the 1st page that you come to when you first log on to your account.

 

My latest subscription expired on 27 December 2013 and I sent my renewal application in at the last minute on the 26th.

When I logged on late on the 27th, I was immediately directed to verify and change my password; plus there was a couple of security layers to verify my ID, before I was able to actually log on to that first page that we all come to.

 

I noticed that on that first time logging on with the new password, the expiration date of my e-banking subscription was not showing, just the date of the last time I logged on. After I had checked out my accounts, I signed out and then immediately logged on again to test the new password. It worked fine and this time the new expiration date was showing.

 

To me, all of that was Warka’s (immediate) response to my renewal request and so I’m not going to expect an email confirmation from e-banking or customer services.

Pretty good service actually; however, it’s curious that my new e-banking expiration date is for March 2014 instead of a year from now.

Since Warka never seems to deduct the IQD15,000 fee for the subscription from my account anyway, I guess they can make the expiration date any time they want.

 

Maybe this is Warka’s way of making everybody pay more attention to their accounts.

Or, maybe Warka is simply coming up to international banking security standards as they get ready to resume business as usual.  

 

At this point in Warka’s circumstances, any other transactions might not be possible until the CBI does what the highest Iraqi Financial Court in the land has ordered them to do ~ pay up, big time.

Within the last 6 months or so I’ve certainly had zero luck with and zero Warka response to my applications for internal transfers, external transfers and CD Purchases.

 

The CBI is supposed to publicly fix Warka’s reputation as a sound financial institution and also transfer enough IQD into Warka’s account to make them both solvent and compliant with the latest CBI requirement of a reserve of IQD 250 Billion that is not dedicated to either depositors or investors.
 

Until that actually happens, any of that local drama doesn't mean much to us.
 

Whatever the case, IMO the sooner you are able to log on and get a picture of your account balances the better ~ if for no other reason than to see solid evidence that you’re actually getting a minimum of 7% on IQD and 4% on USD while we wait out Warka’s return to normal.

 

I have a feeling that you might not even need a formal application for an annual e-banking subscription for a IQD 15,000 fee.

 

It might be that Warka is allowing anyone who tries to log on a chance to change their password and at the same time establish some additional security layers ~ all for free.

Of course, you might be directed to change your password again three months from now, but that just might make sense as Iraq approaches a currency transition ~ probably sometime in the spring of 2014.

 

 

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haymon Rising Star

haymon

Posted
Posted

Under Maintain Clients Information

Change Transfer Password

They want you to establish a transfer password.   I did it today, and it said it was successful. But no change to my screen yet.  May take a day for them to correct my access on my page.  Then I hope to be able to transfer again.

  :twocents:  :bugs: 

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Goodlife Newbie

Goodlife

Posted
Posted

Under Maintain Clients Information

Change Transfer Password

They want you to establish a transfer password.   I did it today, and it said it was successful. But no change to my screen yet.  May take a day for them to correct my access on my page.  Then I hope to be able to transfer again.

  :twocents:  :bugs:

Good work. I didnt know they had changed it until I read the post. 

Let us know how you get on

I set mine up as well. No change though.   We may have to ask them to set it up for us. 

I really wish Warka would communicate with us when they make changes.  This is the value of this site in that we can source info. Appreciate it.  

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