G'day I am looking for advice and instructions on sending hard currency to the Warka Bank! Has anyone done this? Had success? and Can give me some advice? It would be greatly appreciated.
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G'day I am looking for advice and instructions on sending hard currency to the Warka Bank! Has anyone done this? Had success? and Can give me some advice? It would be greatly appreciated.
Hey Screwball - I have not sent hard currency to Warka, but I do have the instructions to do so, if I choose to at a later date. Here is what I have:Quote:
Originally Posted by screwball
1. Using FedEx, grab the Envelope for Documents. On the form you fill out, you will be asked to disclose the contents of the package. Do NOT put Dinar - Make sure you state that you are sending documents. On the value of the contents section, just put $1.00.
2. Address the document envelope to the following (I've left the name off of this address, as I'm not sure if I am allowed to do so - I will PM you the contact's name, though):
Mr. ******
Warka Bank - Main Branch
Hay Alwihda - Sec. 902 - 14 Street
PO Box 3559 Elwiya Building 50
Baghdad, Iraq
Also include a letter, stating to deposit the dinar into your specific account number. Then wrap this letter around your Dinar, so it looks like an ordinary envelope. I've had one individual tell me that it cost them $121 to send two such packages this way from the Carolinas - So expect a $60 shipping bill (or thereabouts).
Again, I have not done this - However, this is the method that multiple people have shared with me. So I would tend to think that this is pretty much all you need to do. If you do this, please report back on how it went for you.
Webguy!Quote:
Originally Posted by WebGuy75903
Thanks for the help. I did exactly as you said but also wrapped it in carbon paper! It got there no problems. They sent me a email with an up to date account balance. Initially I was going to send 2500000 in three small parcels but it was going to cost me 153.00AUD for each parcel to be sent via FEDEX. So I thought what the hell and sent it all in one hit. Thanks Mate! If you are every in Melbourne Australia PM and we can have a beer over the dinar!
Glad it worked out for you. I was hesitant to post the information at first, since it wasn't first-hand information, but I'm glad it worked out. I may be going that route myself if I don't find out what happened to my wire transfer that I initiated on the 1st, that seems to have magically disappeared (not really - Just haven't heard anything, so I'm going to start trying to find out the scoop). And I will definitely contact you if I ever get to Melbourne - Heard it's a nice place!! Take care...Quote:
Originally Posted by screwball
Webguy:Quote:
Originally Posted by WebGuy75903
I know you can geta Visa Card attached to your Warka Account which will enable you to draw money from any ATM but do you know if any has actaully got a card in their hot little hands and has actually been able to draw money from their account using the card. I am quite sureone on Rolclub has got a card???
Screwball,Quote:
Originally Posted by screwball
Thanks for posting this. I have been considering doing the same
especially since the prospects of a reval seem to be narrowing down
to either between now and April --or-- a very slow reval. I'm afraid
if its the "slow" way that when Iraq becomes a GCC member with
Qtar, Omen etc. they may have a whole new currency printed and
then there will be tons of FedEX's (red flags) being sent all at once.
Just wondering about how you arranged the 2.5M dinar in the package.
Did you send them all in one stack (which I think would be about 5/8"
to 3/4" thick if they were all 25k notes) or did you spread them out
inside the envelope in ..say 3 or four smaller piles so the package looked
more flat?
Also, was the name to whom you sent it something like Mr. Mxxxxxxx Ixxx ?
Thanks again for the info.
ND
No, they don't have a debit card yet. The Visa card is a secured credit card - the lowest amount being $300. I am choosing to wait until they have a debit card.Quote:
Originally Posted by screwball
Hi Pegasus.
I believe the Debit card can only be used in Iraq.
Cheers kaz
This is what I was sent from the Visa department when I asked if a debit card was available:Quote:
Originally Posted by kaz
Baghdad 22/01/2007
Dear Sir,
You almost welcome and your request will be effecting immediately. As soon
as we will issue the debit card you will informed.
Please do not hesitate in contacting me for any assistance.
Hi Pegasus,Quote:
Originally Posted by Pegasus
When I requested a Visa credit card - yes this available globally but Warka require 105% advance guarantee. However, when I asked about the debit card, Warka stated it could only be used locally.
Cheer
kaz
Noddlesdad:Quote:
Originally Posted by noodlesdad
PM me and I will tell you how to send them.
cheers
Kaz and Pegasus:Quote:
Originally Posted by kaz
Why not make cash advances using the visa card? That we you will have instant access when it revals!
I wonder.....
has anyone asked Warka about an ATM card?...most banks have them...I would pay $2.00 to withdraw $10,000
.
WebGuy75903
Hi
I opened a Warka account about 3wks ago it took about 5wks to get a reply.
I'm about to wire my 1st deposit, so was interested to know if you have had a confirmation of your transaction? They may be just slow at certain times, I have read on here of pretty quick response's for some.
cheers
Mad
Quote:
Originally Posted by wherbie
Sorry, I never checked back on this thread. This is a good idea! I never thought to ask them.
Can you imagine the fees that could be involved? Scary....Quote:
Originally Posted by screwball
My sincere apologies for missing this post. Must have just overlooked it. Hopefully my information will still be of value to you. In the future, if you don't get a timely response from me, just PM me - I usually catch those pretty quickly. Anyway, here is the latest from me:Quote:
Originally Posted by Madbrad
I did not get any correspondence from Warka about them receiving my wire transfer, so I followed-up with them. I emailed Mr. I, and asked him if my wire transfer was received (wire initiated on Jan. 31st - Email sent on Feb. 7th). I received a response the next day from Mr. I who confirmed that they received my wire transfer. He didn't tell me when they received it, and at that point, I honestly didn't care... I was just happy that they got it.
They also were very slow in exchanging my USD in to IQD. Mr. I gave no indication in his reply that they were following the Additional Instructions I provided in my wire transfer to convert the funds, so after a few days of going back and forth (first with him, and then I switched to the Customer Service address), I got my USD converted successfully. I think by February 11th, or 12th, everything got squared away successfully.
So, don't assume that they'll notify you when they receive your wire transfer. Be proactive about it, but patient, as well. Once the funds are confirmed to have left your account, give it about two days or so (and be mindful not to count Friday - Sunday as part of that), and fire off an email to Mr. I. That's the best advice I can offer. I hope it helps.
Again, my apologies in not seeing your post sooner. As I said, PM me if you ask me something in a thread, and I don't answer. I'm on the forum just about every day (but weekends I'm usually in and out rather briefly)...
WebGuy75903
The method you used is a bit risky. Cheap things are expensive. Supposed the mail got lost? You lose.
Next time, try to use Bank wire for larger amounts. The fees vary from bank to bank but you are sure you shall get the funds delivered anywhere in the world.
WEBGUY 75903
Many thanks for your reply I have just had confirmation of my transfer from Warka.
I have sent them a request to purchase varioue stocks on ISX and will see how they get on with this and let you know
mad
Yes, please do. I just sent Warka my very first stock pick ever over the weekend - And it was to be executed in yesterday's session. I've heard it could take upwards of a week for them to get back to me, and say that everything went smoothly, or whatever.Quote:
Originally Posted by Madbrad
Anyone else have a different experience? Just curious of a week lag time is normal or not. I'm anxious to find out if they were able to get all the stocks I wanted or not.
A debit card locally, you can buy your ak47 shells on debit if the ammo dealer accepts at the market.