Thread: Warka Account Setup Step-by-step

Please explain what I need to do step by step to set up an account. Who do I email, then what after that and so on?

Below is the Savings Account request/consent form; copy it. Fill it in and sign it. Scan and save it as a jpg image or pdf file. Attach that jpg or pdf file along with a scanned image copy of your Passport or Driver License/State ID into your account request eMail and send it to Mr. I. at ifrd@Warka-Bank-Iq.com and also a copy to [email protected]

Here’s an example email for a Warka Investment Bank account request:

Dear Sir/Madam,

Please open a USD and IQD Savings Account with Warka Bank on behalf of myself. Attached are my Passport and Authorization Letter.

Please confirm so that I may wire money to my new accounts.

My email address is xxxxxxxxxxxxxxxxx

Thank you in advance.

[Your Name]


Below is your online Authorisation Letter. Copy it, Scan it and email it along with your drivers licence or passport.

I, [Your name] authorize Warka Investment Bank to withdraw from my USD Savings Account at Warka Investment Bank and exchange the US Dollars into Iraqi Dinars according to the price fixed by the Central Bank of Iraq at that day, and then deposit those funds into my IQD Savings Account at Warka Investment Bank less any fees.


Party in full agreement, signed below.



____________________________________ Date_________
(Print Your Name)



__________________________________________________
(Your Address)



___________________________________
(Your eMail Address)



___________________________________
(Your Signature)


All USD and IQD Warka Bank accounts must maintain a minimum balance of $150 dollars in the USD account and 300,000 dinars in the IQD account. Also keep in mind that it may take up to a week or more to get your account setup confirmation eMail.


All accounts must be funded within 6 months of opening or it will be closed.

To Fund An Account

If asked by your Bank only mention or write that the wire is going to Germany to an investment account, there's no need to reference any other country at any point in the wire transaction.

It usually takes a couple of days for your account to be credited once the wire is received in Germany, but sometimes it may take a week or longer. The IBAN number (BLZ = Dresdner’s domestic Routing Number/Bankleitzahl) might not be needed by all banks.

Below is the proper bank wire information to use to fund your Warka Bank account.

• Beneficiary Bank Account (Warka's Dresdner Bank account info):

Name --------------------> WARKA BANK FOR INVESTMENT
Account Number -------> 08-005-734-00-400
Street Address -----------> JURGEN-PONTO-PLATZ 1 D-60301
City ---------------------------> FRANKFURT AM MAIN
State/Province ---------------> HESSE
Country -------------------------> GERMANY

• Beneficiary Bank Branch (Dresdner Bank info):

Bank IBAN Code --------------> DE88-5008-0000-0800-5734-00
Bank BLZ Code -----------------> 500-800-00
Bank SWIFT/BIC Code ----------> DRESDEFF
Bank Name ---------------------------> DRESDNER BANK AG
Bank City -------------------------------> FRANKFURT AM MAIN
Bank Country ---------------------------> GERMANY

• Additional Wire Information/Note (Required to credit your Warka Bank account):

TO BE PAID FOR: [Your Name]. A/C NO. [Your Warka Account] AT WARKA BANK. KEEP MINIMUM IN USD BALANCE, PUT THE REST INTO IQD.

Once your account is opened and funded - How to Transfer money from your USD Savings Account to your IQD Bank Account

Below is an example of how fund you IQD Account Money Transfer request/consent form; copy it. Fill it in and signed it. Scan it and email and send it to Mr. I. at [email protected]



Dear Sir/Madam,

Thank you for setting up my account.

On [date] I wired $xxxx to Dresdner Bank. This money should have credited to the Bank on [Date].

The monies came from - [Your Bank and your Name]

Please credit $xxxxx to my IRAQI DINAR SAVINGS ACCCOUNT. Less any fees.
Please credit $150 to my US Dollar Savings Account. Less any fees.

Account - [Your Name] - [Your Warka Account Number]


Please confirm you have received my Bank Wire and monies have been transferred to my IQD Account.

Thank you in advance.

[Your Name]

Hi
Im pearlll
Im new here, first reply
Though read a few posts
Ive just read the post conserning the New bank account details for the Iraqi Dinar account in iraq
Im from Australia
Having no account in Iraq
And a little confused with what the best methiod of aquiring the Dinar or better off having it in a bank in Iraq / online banking
Or having it in real form as in notes in hand ?
I see the methiod you have posted to creating an account
And was wondering if there is any glitches with submitting all those details, to finally, doing the online money transaction / transfer of funds, and have a solid - positive outcome of it all going through, to were i can view my account online like i do with my online bank in Australia ?
Also, Having my funds in an Australian bank and in AUD and doing the transfer into the Warka Bank to my new Iraqi account. Will the transfer, simply be converted into Iraqi Dinar at a USD rate at that time ?
Another - The Warka bank being expaned round the world as im sure i read, If im wrong please let me know, as mentioned, having the Warka branches in different locations eg France and elsewhere, wouldnt it be best to have funds in Iraqi Dinar but located in a different country ?
Sorry for the extra questions, But am new to the Dinar and the idea of aquiring them with the safest methiod possible
Interest CD is those sorts of things available ?

Thank you

How To Open A Warka Investment Bank Savings Account


Last updated: 3/19/2009

[NOTE: Warka Bank is not the only Iraqi bank that accepts foreign customers, you are free to take your business to any other bank of your choosing. Simply go to the official Cbi-Iq.com site, look at the bank list and contact those banks as to what procedures they may require from you.

If you acquire an account at Warka Investment Bank keep in mind that they do not necessarily condone mailing of funds/currency to their bank. Doing so may risk complete loss of your funds or full confiscation by Customs agents and Warka Investment Bank will not be held responsible. Bank wires are the only officially accepted way of funding any acquired Warka Investment Bank account. If you are still set on mailing your IQD, please divide your quantities into smaller shipments and use Fedex as your carrier. See the " Mail Funds To Warka Investment Bank" attachment at the bottom of this post.

For information on wiring funds to Warka Bank go to: How To Wire Funds Into/Out Of Your Warka Investment Bank Account

All USD and IQD Warka Bank accounts established after July 22, 2007 must maintain a minimum balance of $150 dollars in their USD account and 300,000 dinars in their IQD account. Also keep in mind that it may take up to a week or more to get your account setup confirmation eMail.]

For the latest fees and or account interest rates please use the following link: Warka-Bank.com

Interest Paid Annually on Warka Bank Savings Accounts.
USD Savings Accounts = 4% yearly.
IQD Savings Accounts = 7% yearly.

Remittance fees = 0.125% for each incoming wire transfer.
Swift charges = $50 USD for sending an outgoing wire transfer from our bank.

Open USD account = $2 USD which is a one time fee.
Open IQD account = 2,000 IQD which is a one time fee.

USD account statement = $2 USD which will be charged only if you request your USD statement.
IQD account statement = 2,000 IQD which will be charged only if you request your IQD statement.

Transfer between Dinar accounts = 1,000 IQD which will be charged whenever such a transfer is made.
Transfer between Dollar accounts = $2 USD which will be charged whenever such a transfer is made.

The purchase of IQD will be according to the rate set by the Central Bank of Iraq on that particular day.


-> To open an account online go to the following link and have an image copy of your Passport or Driver License/State ID ready and fill out their online form. Warka-Bank.com


-> To open an account through eMail with a request/consent form that you will need to copy, paste, and print it out. You can download and print an account request form by clicking the attachment at the bottom of this post. Fill it and signed it. Now scan and save it as a JPG image or PDF file. Attach that JPG or PDF file along with a JPG scanned image of your Passport or Driver License/State ID into your account request eMail and send it to Mr. I. at [email protected]

Here’s an example eMail for a Warka Investment Bank account request:


Hello,

Please open a USD and IQD savings account at Warka Investment Bank on my behalf. Attached to this eMail is my appropriate ID and a signed authorization letter.

Thank You,


If you don't have a scanner, please go to your nearest copy/printing shop and they can help you save it onto a disk:


I, _________________________ authorize Warka Investment Bank to withdraw from my USD Savings Account at Warka Investment Bank and exchange the US Dollars into Iraqi Dinars according to the price fixed by the Central Bank of Iraq at that day, and then deposit those funds into my IQD Savings Account at Warka Investment Bank.


Party in full agreement, signed below.



____________________________________ Date_________
(Print Your Name)



__________________________________________________
(Your Address)



___________________________________
(Your eMail Address)



___________________________________
(Your Signature)

__________________________________________________ ________________________

NOTE: Opening a Warka Investment Bank account is free but if you do not fund your account within six months, your account will be closed. Make sure that your ISP/eMail service won’t block Warka’s eMails, so check your spam filters. You can contact [email protected] regarding any personal and important account issues.

None of the above is to be taken as financial or legal advice... - AAD

____________________________Important_____________ ________________
Whenever eMailing Warka Investment Bank for whatever important issue, do it around their business hours and preferably in the morning 8-11am Sun-Thurs Iraqi time. Never send them more than one email per day, just be patient for a response. Sometimes Warka Investment Bank may be very busy and what should normally take a few days, can take a week or more. If you also factor in any holidays in Iraq (and Germany if wiring funds) those can also delay the response process. Please don't drown them with eMails because this in the end will affect everyone's response time. Remember for common questions/tips you can always simply ask them here at the forum instead of eMailing Warka with non crucial questions. You can check the current Baghdad time before eMailing them:

www.timeanddate.com/worldclock/city.html?n=27

Warka Investment Bank Contact eMail Addresses

For any information concerning international foreign banking relations:
[email protected]

For any information concerning banking customer services:
[email protected]

For any information concerning opening an account at any Warka Bank branches:
[email protected]

For any general information you need to ask Warka Bank about:
[email protected]

For any information concerning the Iraq stock exchange (ISX):
[email protected]

For any information concerning Warka online banking:
[email protected]

For any information concerning wire transfers:
[email protected]

For any information concerning credit cards (VISA/MASTERCARD):
[email protected]

Official Warka Investment Bank Websites

www.Warka-Bank.com

www.WarkaInvestmentBank.com/contact_us.htm

I wish you the best of luck and prosperity...

Thanks you!