Funding WARKA account

[Goldiegirl]

Thank you BrokenNoMore.

[wineguy]

Here is the latest in my futile (so far) efforts to wire transfer funds into my new Warka account. I seem to have finally solved the Recipient address issue by listing Commerzbank's Frankfurt address as the recipient address. Now my bank is asking for the IBAN number or code for Commerzbank. Anyone know what this IBAN number or code is? My frustration is mounting by the day...

Thanks to anyone who can help.

[BrokeNoMore]

Here is the latest in my futile (so far) efforts to wire transfer funds into my new Warka account. I seem to have finally solved the Recipient address issue by listing Commerzbank's Frankfurt address as the recipient address. Now my bank is asking for the IBAN number or code for Commerzbank. Anyone know what this IBAN number or code is? My frustration is mounting by the day...

Thanks to anyone who can help.

In my limited experience, I believe the IBAN stands for the International Beneficiary Account Number...and is 400875402000 for Commerzbank.

On mine, they did not check the IBAN-Europe box. They checked the Beneficiary Account # box, and used that number. I do believe it's the same thing more or less; it's on the same line.

Hope this helps.

[Goldiegirl]

Here is the latest in my futile (so far) efforts to wire transfer funds into my new Warka account. I seem to have finally solved the Recipient address issue by listing Commerzbank's Frankfurt address as the recipient address. Now my bank is asking for the IBAN number or code for Commerzbank. Anyone know what this IBAN number or code is? My frustration is mounting by the day...

Thanks to anyone who can help.

I used the Frankfurt address for both the recipient address and bank address as well. I will see if it goes through in the next couple days. My bank was very nosy. Not sure why but she said they were getting strict with wires lately. Why should they care where I wire money as long as it's not directly to Iraq? Maybe she was just having a bad day.

Thanks for all the helpful posts.

[kbcash35]

Still a little confused..........So to clarify, for Beneficiary name and account number: you put your name and Warka account number? or you put warka Bank for Investment and 400875402000?

Also Brokenomore have you wired directly to your IQD this year? Just want to make sure thats still possible as I havent heard anyone else trying it.

[easeandpeace]

I am going to attempt to transfer funds through my citi account soon. I posted in another section about the journey I took with Warka to get the account open and then to fund it. I asked Mr. Issa in an email after I had successfully wired on my second try to Commerzbank if I could just wire directly to my Warka account through citi or set up some way to transfer funds through my citi account and he wrote back that I had to still send all wires to Commerzbank to get the money successfully into my USD Warka account even though I have set up online banking with Warka now so I can transfer the funds into IQD after it sits in my Warka USD account for 4 business days. The issue with wiring the money is that you need to be very specific in the wire information to get the money to Commerzbank and then Commerzbank gettting it into your Warka USD account.

The directions Warka sends on how to wire are not clear enough. I will tell you exactly what to write at least if you are wiring through citibank taking this directly from my citi wire.

Originator information: Your name

your address( hopefully this is the same in your bank account as it is in your Warka info. you provided)

Beneficiary information:Your name

your address

your phone #

your account # with your bank that you are wiring it from

Beneficiary Bank: Commerzbank AG Frankfurt Germany

60261 Frankfurt Au Main

Frankfurt

Germany

Swift: COBADEFF

Special Instructions: Your name (as you have it listed with Warka when you opened your account)

USD Acct. at Warka Investment

your USD Warka account #

This got through to Commerzbank and into my Warka USD account. then immediately write the account depts and cc Mr. Issa to let them know the bank you wired it from , the day, and the amount and state your Warka USD account # in the email. They will reply to you in a couple of days. Then you want to request online banking through e-accounts once you get funded (leave $150 as a minimum balance in your Warka USD as that is a requirement) and then you can turn your USD into IQD through online banking.

You have to have patience with this process and I would only send a test amount to get the account funded as the first time I tried I didn't understand how to write it all out correctly and either did the citi bank guy, but we worked through it and now I want to try to send directly through the way earlier suggested in this thread as it will cost less in fees (cost me $80 to do it wrong the first time due to wire fee and conversion fee or something for a total of $80 to get the money into account and I am reading people are only spending $25 -$35 to do it this other way.

Hope that helps.

[Goldiegirl]

To wire to Germany follow this thread and check out my post on #20.

I have listed the details exactly and it works perfectly. Funds get to Germany in 2 days. Make sure you speicify your Warka USD account in the special instructions....also my bank (not to bright) asked me if this was special instructions for the sending bank or receiving back. Well it's the recieving bank (Germany) that needs to know your Warka USD account.

Hope this helps.

Goldiegirl.

[kbcash35]

Thanks easeandpeace and Goldiegirl. I'm on it!