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Warka Account Funding

jason53818

By jason53818,
in Buying and Selling Dinar

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jason53818 Newbie

jason53818

Posted
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I have a quick question on funding the Warka Account. So when i go to fund it i will use a wire transfer that will transfer USD from my account into my Warka account correct? Then the money that is held in my warka account is it held in USD or in Dinars or do i have to state that to the bank? I am assuming it will be held in dinars, but i wanted to clarify this before i funded my account.

Thanks.

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ac63corvette Newbie

ac63corvette

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Warka has a $10,000.00 per day limit on out going wire transfers. They now have an international credit card that can be tied to your account. The IQD account draws 7% wile it sits there. No it is not insured, I don't think any offshore accounts are. It is a back up for me. a place for money to grow while we figure out taxes. We also have a like amount of cash in hand. Resurch and use your on judgment.

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ac63corvette Newbie

ac63corvette

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Warka is a risk, but when it RI/RV s it's kind of a back up and if I half to draw 50 or 60 K a week for several years thats OK. If it RV/RI s and I lost all it would not be plesant but not devistating. If the currancy changes we are covered. It gives us a fund for the long hall. If you want insured safe investments buy USP bonds @ 2%. Just my thoughts. Jerry

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RMLP Newbie

RMLP

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Open your account and Mr. Issa will take care of you....when you open a Warka account, you will have a USD account and a Dinar account...Just let Mr. Issa what you want and he will take care of you...You need to keep 150 dollars in each account...there is a 15000 dinar charge per year for your accounts...you should consider to open a ISX ability too...

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FiremanDave Newbie

FiremanDave

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I posted the following on another thread because I didn't see this thread already started. Please accept my apologies if this breaks any rules for posting the same thing in two threads...

I have to respectfully ask a couple questions about opening an account at Warka:

1) According to http://travel.state.gov/travel/cis_pa_tw/cis/cis_1144.html (under special circumstances) there are restrictions to money being wired out of Iraq. After RV, what assurance do we have that monies would be able to be wired back to US banks in USD?

2) Does Warka Bank have systems in place to protect personal information such as addresses, birthdates, etc? Some of my friends are calling me crazy for sending a copy of my drivers license to Iraq over email. I don't think they mean anything personal about it; just wanted to make sure if they do it, their personal information won't be made public.

Any other advice, experiences or lessons learned that anyone can share would be greatly appreciated!

Thanks everyone!

FiremanDave

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