Polaris Bank Domiciliary Account: How to open account and requirements

Last Updated on July 1, 2024 by admin

Are you searching for how to open a Polaris bank domiciliary account on google and you are keen to know the requirement and procedure of opening a former skye bank dom account? If yes, the content will walk you through the guideline to get one open today.

Polaris bank domiciliary accounts give you the opportunity to conveniently carry out foreign transactions wherever you may be from the comfort of your homes via Polaris Xperience platform

Carrying out transactions from Polaris Dom account is seamless, fast and secure when dealing with international transactions because it helps manage based on how funds are received.

This kind of account is best targeted at Expatriates, Foreign Nationals,Professionals and Business Owners who intend to transact without hurdles . It is useful when traveling or sending money to relatives abroad and also enables customers to be paid in any foreign currency – US Dollar, Pound Sterling, EURO etc.

Read: Union Bank mortgage loans: Type of mortgage and requirements to apply

Polaris bank offers two different types of DOM account, Polaris Domiciliary Account – savings and Polaris Domiciliary Account – Corporate . so let take a look at each account features/benefits and account Opening Documentation.

1. Polaris Domiciliary Account – Corporate

The former skye bank Dom account is designed for Corporate that offers the convenience of carrying out transactions in foreign currency (USD, GBP and EUR). This type of account has Minimum opening balance of $100, £50, €50 and Minimum operating balance of $10, £5, €50 which used to be $100 .

The corporate domiciliary account accepts lodgement of foreign currency cheques and Direct International funds transfer (Inflow & Outflow). Account holders can also issue foreign currency drafts and access e-channel platforms from their gadget.

Account Opening Documentation for Polaris Domiciliary Account – Corporate

Polaris Domiciliary Account – Corporate either Limited Liability Companies or Registered Business Names need the following documents to open account

1. 1 passport photographs of each signatory
2. Bank Verification Number (BVN) of Signatories
3. Valid means of identification of signatories (Int’l passport, Driver’s license, National ID, Voters card)
4. Proof of Address (PHCN, Water bill, Waste disposal bill, tenement, etc.

5. Premises visitation Report
6. Two suitable references
7. Certified True Copy of Certificate of Incorporation/Registration of Business Name

8.Certified True Copy of Memorandum and Article of Association is needed for limited liability, while business name registration doesn’t need it
9. Certified True Copy of form C07/CAC7 (particulars of Directors) and C02/CAC2 (Allotment of stares) on the other hand, business name doesn’t need it.

10 Copy of Forms for application for Registration of Business Name
11. Legal Search report
12. Residence permit issued by the immigration Authorities (Expatriates)

13.Evidence of Registration with Special Control Unit on Money Laundering (SCUML) for all Designated Non Financial Businesses and Professionals (DNFBP)- Where applicable
14. Tax Identification Number (TIN] Business name registration doesn’t require this.
15.Board resolution to open account

Also read: How to register/access National Housing Fund ,check monthly contribution and requirements for FMBN mortgage loan

2. Polaris Domiciliary Account

Polaris domiciliary account is a savings account designed for saving and transferring funds in foreign currency (USD, GBP and EUR). The account can also be used to settle bills, school fees and other FX transactions abroad.

Features and benefits

Polaris bank domiciliary account has the following benefits and features

1.Minimum opening balance of $100, £50, €50
2. Minimum operating balance of $10, £5, €5
3. Competitive interest on savings
4. Issuance of MasterCard Gold USD Debit Card
5. Issuance of foreign currency draft on account
5. Lodgement of foreign currency cheques and dividend warrant
6. Direct International funds transfer (Inflow & Outflow)
7. Access to e-channel platforms

Account Opening Documentation

To open a Polaris saving Dom account you need to present the following documents to the bank as adumbrated below.

1. Account Opening Form
2. 1 passport photograph
3. Bank Verification Number (BVN)
4. Valid means of identification (Int’l passport, Driver’s license, National ID, Voter’s card)
5. Proof of Address (PHCN, Water bill, Waste disposal bill, tenement, etc.)
6. Premises Verification Report

How to apply

To open a Polaris domiciliary account either savings or corporate you need to visit any closest branch with the above document to get your account open today.

For more information please contact polaris bank below on:



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Meet Ogbeide Frank, popularly known as perere, a blogger who loves writing about finance and Tech. He studied Business administration at the Ambrose Alli University Ekpoma and Mobile Communication at Orange College Malaysia .Frank have worked as a banker and consultant in variety of Nigeria agencies For Advertisement, Content marketing andsponsored post: contact : kokobest04@gmail.com
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