Thread: Iraqi Bank Online

Originally Posted by Madbrad

Hi

can any one suggest how long it takes for Warka to reply? I sent an e-mail along with drivers licence and letter to open an account 3wks ago, not heard anything

cheers

Ive heard of some that waited six-weeks before they got a reply. Others just a couple of days.

Just be patient they will respond.

Antje

I got a reply to today with my account details. have you deposited/wired yet? I'd be interested in your experience's or any do's/don'ts

many thanks
Mad

You would have to be out of your cotton picken mind to put your money in an iraqi bank.

Originally Posted by Madbrad

Antje

I got a reply to today with my account details. have you deposited/wired yet? I'd be interested in your experience's or any do's/don'ts

many thanks
Mad

Hi Mad,

I've wired them EUR 300 (about USD 370 to 380) via Commerzbank Frankfurt, which after deduction of transfer fees bought me around IQD 530,000. In the meantime I've invested part of that in the ISX, and I'm getting good interest on the rest.

Up to now I've found that their service is excellent, and they are really working hard over there. I personally do trust them, but of course I'm aware that the acid test is going to come once we exchange part of our dinars back into dollars after the reval and withdraw our money...

Generally I don't like to put all my eggs into one basket, so I'm holding some dinars over here in cash, and some on that account.

You can PM me any time if you've got specific questions.

Antje

Well Chase and HSBC will take the dinar once its pegged or revalue what ever you want to say.
I also think that Citi Bank will take it as well. I do know that chase is selling dinars. I dont know what type of bill they are selling , Meaning USED or NEW
I bought my Dinars from a dinar dealer who sent me never circulated bills.
Thanks

Originally Posted by nicanor

Dear Marek,

How do you send your dinars to warka-bank!I do not know nothing about investing.What is the signal or how do i find out,or when foreign investors open up.

In what Banks here in the U.S.A Exchange dinars for Dollars.Nicanor

Originally Posted by DM0619

Well Chase and HSBC will take the dinar once its pegged or revalue what ever you want to say.

I also think that Citi Bank will take it as well. I do know that chase is selling dinars. I dont know what type of bill they are selling , Meaning USED or NEW
I bought my Dinars from a dinar dealer who sent me never circulated bills.
Thanks

Chase will sell small amounts at the same rate (per million) as other on line IQD sellers. I have found that at pickup time that I have received both used and un-circulated NID. This will allow more to invest at their price levels and still be one the team…

DesertWolf

Best deal out there, buy the Chase bills and send them Fedex to Warka. 3.5 days from Colorado to Baghdad. Confirmation from Mrs M early that morning. Get your order next day. Orders filled two days later (or next trading day)

Originally Posted by Bungalobill

Best deal out there, buy the Chase bills and send them Fedex to Warka. 3.5 days from Colorado to Baghdad. Confirmation from Mrs M early that morning. Get your order next day. Orders filled two days later (or next trading day)

I am not sure if this is true...I haven't done either (I was supposed to do a wire today, ran late, so will do it Tuesday...), but here is my understanding...

With Chase you pay what $865 per million plus Fedex is about $50 (or $60) and IF Fedex looses the package, you can collect the $100 insurance (I admidt, I have not heard one person who has lost a package...). People have said it could take upto a week to get there.

(Remember, this week is a holiday in the USA, so you better get it to fedex by monday otherwise it will probably be delayed)

If you wire any amount to Warka, I believe the wire fee is about $40 from your bank plus about $40 from the German bank. So a million would be $800 at Monday's CBI rate. I don't think Warka charges any fee to put into a IQD account, though I could be wrong, I believe most have said it is usually 4-5 days to get to Warka.

If you have the IQD on hand and DO NOT want to increase your investment, I can understand why you would send it via Fedex...also if you want to purchase stocks, but it doesnt seem cheaper to buy with Chase's premium and pay Fedex....

If I am missing something, please let me know, as I will be wirring a chunk tommorrow.


Best to all,

Dinarstars

Greetings,

Do these Iraqi banks allow account holders to send wires online? I have number of client interested in banking in the Middle East.

Regards,

Allan Scott

I think some of them like warka does that.

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