Warka advantages??

[gfulcher66]

What are the advantages of opening a warka bank account vs a regular account here in Texas, with a trust to put the money in post ri/v? Thanks for any info.

[bahtman]

What are the advantages of opening a warka bank account vs a regular account here in Texas, with a trust to put the money in post ri/v? Thanks for any info.

gfulcher66,

1. You will receive 1175 dinar per dollar. 25% more than Dinar Trade and other vendors

2. While you wait for the RV, you will make 6%-7% on your money

3. After the RV, if there is a time limit to turn in your Dinar, especially at a lower rate, you will be able to hang on longer

because your Dinar are digital in Iraq. This might enable you to cash in later when the Dinar rise in value.

3a. It might also allow you to move from short term capital gains to long term capital gains, a huge savings even if it moves

into 2011 ( long term rate in 2011 will probably move to 20% from 15%) but still a huge savings over short term of 35% plus.

[keepmwlknfny]

What are the advantages of opening a warka bank account vs a regular account here in Texas, with a trust to put the money in post ri/v? Thanks for any info.

No matter what you do, there is no "trust" in a warka account......you have no insurance.....they bottom out you are SOL and there isent anything you can do about it.....

[gfulcher66]

Thank you for the info. I am looking forward to sighning up

[Doc31]

No matter what you do, there is no "trust" in a warka account......you have no insurance.....they bottom out you are SOL and there isent anything you can do about it.....

Yep, sounds reasonable ... right up to the part where people who hate us have your money, how many thousands of miles away ... and you have to hire who to try to get it back ... NAH! no thanks

Thanks for the post!

Edited August 24, 2010 by Doc31

[gfulcher66]

No matter what you do, there is no "trust" in a warka account......you have no insurance.....they bottom out you are SOL and there isent anything you can do about it.....

Come on now...Dont you know every big industry gets a bail out now days JK I will try to check and make sure they are a solid bank to work with, have you heard one way or the other or was that just a general statement?

[radar47]

Thanks for the post.

[SexyDinar]

Okay why don't we list the current disadvantages:-

1. You have to pay yearly for online access!

2. Currently you are not able to do electronic internal transfers between accounts!

3. Currently you are not able to do electronic transfer of funds externally back to the US!

4. The maintenance upgrade is taking forever to complete!

5. Why are we having to pay to view our account balances?

Come on WARKA get your act together and sort out the problems as we are paying customers of the bank!!!!!

[Montana]

Okay why don't we list the current disadvantages:-

1. You have to pay yearly for online access!

2. Currently you are not able to do electronic internal transfers between accounts!

3. Currently you are not able to do electronic transfer of funds externally back to the US!

4. The maintenance upgrade is taking forever to complete!

5. Why are we having to pay to view our account balances?

Come on WARKA get your act together and sort out the problems as we are paying customers of the bank!!!!!

Just a note: I have been able to complete internal transfers between my accounts whenever I have tried to.

Just a thought: I agree that there are some potential drawbacks to having funds in my Warka accounts, but the fees are almost nothing, I get faster and better customer service from Warka than I do from any of my stateside banks. They have done everything I've asked them to do and responded to every email quickly. They actually do pay 7% interest. And if you have any significant amount of money in US accounts it may not be as safe as we'd like to think.

Anyway, this whole "investment" is somewhere between gambling and high risk speculation, so IMO the "Warka Risk" is just part of the excitement that goes with this type of thing. Let's not get all worked up and lose sleep over it. We'll all be pleased with the outcome I would imagine.

Montana

[Frank61]

I love my Warka account and trust them more than any Financial Institution in this country !! They dont get or need a bailout. They just get business done.

I love my Warka account and trust them more than any Financial Institution in this country !! They dont get or need a bailout. They just get business done.

[invest4later]

Just a note: I have been able to complete internal transfers between my accounts whenever I have tried to.

Just a thought: I agree that there are some potential drawbacks to having funds in my Warka accounts, but the fees are almost nothing, I get faster and better customer service from Warka than I do from any of my stateside banks. They have done everything I've asked them to do and responded to every email quickly. They actually do pay 7% interest. And if you have any significant amount of money in US accounts it may not be as safe as we'd like to think.

Anyway, this whole "investment" is somewhere between gambling and high risk speculation, so IMO the "Warka Risk" is just part of the excitement that goes with this type of thing. Let's not get all worked up and lose sleep over it. We'll all be pleased with the outcome I would imagine.

Montana

Adam , Wishing You and Yours WELL ! . .. I Too Have A Warka Account , Have Since The Beginning ... Question :

WITHOUT The Transfer Buttons ( Both ) How Do You Do Your Transfer From USD To IQD Now ?

To OUR Successful Ending .... Aka RV!!

Gstar02

[jonboy]

You Email Rowaida Mohammed Customer Services Dept International Affairs. c.services@warka-bank-iq.com

jonboy

[one4dinar]

Adam , Wishing You and Yours WELL ! . .. I Too Have A Warka Account , Have Since The Beginning ... Question :

WITHOUT The Transfer Buttons ( Both ) How Do You Do Your Transfer From USD To IQD Now ?

To OUR Successful Ending .... Aka RV!!

Gstar02

The transfer problem has been fixed. Internal and external.

[ac63corvette]

If Warka was to fold up its tent and all of the funds I have there go with them, I will take the loss at the rv rate against my cash in hand and still make money.

[quadraph0nic]

If Warka was to fold up its tent and all of the funds I have there go with them, I will take the loss at the rv rate against my cash in hand and still make money.

EXACTLY!! And this goes back to Adam's advice about being diversified with your investment. CASH, WARKA, ISX. If you can do all 3 then you have given yourself the best chance to make something out of this because we are not 100% on how this is going to go down.

[ac63corvette]

I have faith in Warka and at this point am not worried about the money in Warka. Only stating the best case for the worst case. Lemon aid from lemons. I only wanted to show that even if you lose. if properly handled you can still win. Some thought and planing. Just a back up plan I don't expect to use. IMO

[gfulcher66]

EXACTLY!! And this goes back to Adam's advice about being diversified with your investment. CASH, WARKA, ISX. If you can do all 3 then you have given yourself the best chance to make something out of this because we are not 100% on how this is going to go down.

How does it exactly diversify you? Does create a hedge in case hey delete the 000's? I want to be as safe as possible but dont know if this is necessarry.......

If this is old hat to you experts instead of bashing supply a link i could not find a good source of info. Thank you