How to open Zenith bank Domiciliary account and Diaspora Banking

Last Updated on July 1, 2024 by admin

Do you want to learn how you can open a foreign currency known as domiciliary accounts with Zenith Bank and you don’t know the steps and requirements? The leading multinational financial service provider offers two types of Dom Account namely, Ordinary Domiciliary Account and Cash Domiciliary Account.

With this type of account you can receive foreign currency transfers from abroad and also you can transfer from your Zenith Bank Domiciliary to overseas. You can either open a United States Dollar account, British pounds account and Euro account depending on your needs and purpose.

You can transfer up to the equivalent of ten thousand US Dollars daily. You must have your hardware token to authenticate all transfers on Internet Banking.The Zenith bank Dom Account features enable Internet Banking, Debit Card (USD), Mobile banking, Email/SMS Alertz, Standing orders and USD, GBP & EUR.

For the purpose of this article, we are going to take a look at different types of zenith bank domiciliary accounts, diaspora banking and how to receive foreign inward inflow to your account.

Different type Zenith bank Domiciliary Accounts

Zenith bank offers two types of Dom Account: Ordinary Domiciliary Account and Cash Domiciliary Account so let’s take a look at the difference and requirement for each.

1. Ordinary Domiciliary Account

With Ordinary Domiciliary Account, you can carry out your foreign transaction , you can get access to debit cards, internet banking, and mobile banking which will enable transfer , make payment yourself on- the- go from any location without visiting the banking hall

You can also read: How to open Union Bank domiciliary account and receive Foreign Currency FX Inward Transfers directly into your Accounts

Requirements to open Zenith bank Ordinary Domiciliary Account

The following documents and information is required to open zenith bank Ordinary Domiciliary Account:

1. Account opening form but if you already have current or saving account you need to submit the dom account form

2. One passport photograph of authorized signatories

3. Valid ID (Driver’s License, International Passport, National Identity Card or Voter’s Identity Card)

4. Public Utility Receipt dated within the last three months
(PHCNbill, water rate bill, tenement rate, rent receipt, telephone bill etc.)

5. Visitation Report (Residence)

2. Cash Domiciliary Account

The zenith bank Cash Domiciliary Account has Zero opening balance but it doesn’t allow transfers ,it’s cash in and cash out only. It also has Internet Banking, Debit Card (USD) Mobile banking, Email/SMS Alertz, Standing orders and USD.

Requirements to open zenith bank Cash Domiciliary Account

The requirement is the same with zenith bank domiciliary account as explained above but the only difference is that you can transfer cash to third parties except cash withdrawal and cash deposit when compared to the formal.

You can also read: How to open Unity bank Domiciliary Account and receive Foreign Currency Inward Transfer (FX Inflow)

Zenith Diaspora Banking

Zenith Diaspora Banking is designed to enable Nigerians in diaspora to take advantage of investment opportunities back home and perform financial transactions safely and conveniently from anywhere in the world.

What are the documents required to open a Diaspora account?

To open Diaspora account, you need the follow documents:

1. Valid means of Identification (from a Nigerian authority or a notarized foreign international passport).

2. Public utility receipt (Proof of foreign address (notarized) or Bank statement from a foreign bank.

3. BVN.
4. One Passport Photograph.
5. 2 References (Nigerian Bank Current account holders) Required for current accounts Only