Warka

[genique05]

How much do I need to open up a warka acc?

[BrokeNoMore]

When I opened my Warka account in December, they did not inform me of any minimums.

I did wire my USD directly to the IQD account, and bypassed funding the USD account altogether.

I believe the minimum for the IQD was $300.

[sanders2340]

There is a $150 min. required in usd account.

[genique05]

There is a $150 min. required in usd account.

Thanks do you know the website where I can do this or do I need to go thru my bank?

[redbaron]

Thanks do you know the website where I can do this or do I need to go thru my bank?

Once you go through the process of setting up your accounts, you'll have to fund them. Thats when you will have to provide the funds in the amount of a minimum of $150 USD in the USD account and a minimum of 300,000 IQD in the IQD account (which equates to approximately $256 USD or 300,800 IQD) and that math is based on the current Warka market price of 1 USD = 1175 IQD. Have fun and definitely read more in this Warka and Iraqi Banking Sub Forum. There you will find all the answers you are looking for. Good luck and Go RV!

Here is the link

http://www.warka-bank.com/

[phxvalleygirl]

Mr. Issa has been very responsive in setting up the account. However, I wired the money (via Commerzbank, Frankfurt, Germany) on 1/11, same day transfer, and have sent emails asking for them to be on the lookout for the funds. My bank says the transfer completed same day (I paid same day transfer fee).

No Mr. Issa! No Warka personnel responding! I'm a little nervous about it because someone in Iraq said that Warka was implicated in a multi-billion dollar misappropriation of funds, etc. Great info after I've sent my money over there! Person said that I'd never get money out of Warka and Warka was not auth. to invest presently. Is this TRUE?

People on this board have been having great service through Warka, it seems. Don't know what to think! Plus, I don't want the RV to occur before my money is in my account, converted to Dinar!

[genique05]

Thanks for the helpful info but I won't be able to do that lol I don't have that much to begin with Ha, may have a drop in the bucket. Just gonna wait for the RV & do the best with what I have:)

Once you go through the process of setting up your accounts, you'll have to fund them. Thats when you will have to provide the funds in the amount of a minimum of $150 USD in the USD account and a minimum of 300,000 IQD in the IQD account (which equates to approximately $256 USD or 300,800 IQD) and that math is based on the current Warka market price of 1 USD = 1175 IQD. Have fun and definitely read more in this Warka and Iraqi Banking Sub Forum. There you will find all the answers you are looking for. Good luck and Go RV!

Here is the link

http://www.warka-bank.com/

[redbaron]

Gotcha, Well good luck and GO RV

[BrokeNoMore]

There is a $150 min. required in usd account.

Huh. I wonder why I'm not being hassled about my account, which is about 30 days old now, that has zero USD in it.

I funded my IQD account and did not fund my USD account, and nothing has been said. They continue to accept wires to my IQD account.

I think my money is worth more post RV in the IQD than the USD...so why leave it sit there if it can be avoided?

[phxvalleygirl]

Huh. I wonder why I'm not being hassled about my account, which is about 30 days old now, that has zero USD in it.

I funded my IQD account and did not fund my USD account, and nothing has been said. They continue to accept wires to my IQD account.

I think my money is worth more post RV in the IQD than the USD...so why leave it sit there if it can be avoided?

Great point, Broke No Mo'!

I will do that also and let them correct me, once I get my money there. I pray that my transfer hits pre-RV

[Dinar_o'saurs]

Mr. Issa has been very responsive in setting up the account. However, I wired the money (via Commerzbank, Frankfurt, Germany) on 1/11, same day transfer, and have sent emails asking for them to be on the lookout for the funds. My bank says the transfer completed same day (I paid same day transfer fee).

No Mr. Issa! No Warka personnel responding! I'm a little nervous about it because someone in Iraq said that Warka was implicated in a multi-billion dollar misappropriation of funds, etc. Great info after I've sent my money over there! Person said that I'd never get money out of Warka and Warka was not auth. to invest presently. Is this TRUE?

People on this board have been having great service through Warka, it seems. Don't know what to think! Plus, I don't want the RV to occur before my money is in my account, converted to Dinar!

No worries phxvalleygirl......... if you just did a wire on 1/11 and haven't gotten a response yet, turn the hour glass over again and watch the sands fall slowly. I think it took them anywhere from a week to a week and a half to respond to my wire stating that my account was funded.

As far as the misappropriation of funds, I remember seeing something to that nature and then Warka fired back that it was false accusations from a competitor. (I also believe that they were in merger negotiations with a bank in the UK, but nothing came of it) Again, no worries.

Don't know about not being able to get your money out of Warka but have read where someone did without a hitch and from what I can tell they are still authorized to trade.

Hope this helps.