How to Open Domiciliary account with all Nigeria Banks

Last Updated on July 1, 2024 by admin

Are you a blogger or you are into online business, thinking of how you can receive foreign currency from my clients abroad including Google adsense, Amazon etc then you will need a Domiciliary Account. You can also settle bills, school fees and other FX transactions abroad directly from the comfort of your homes

Doing business with the world is a lot easier with Domiciliary Account and it help customers to Maintain an account in the world’s major currencies with the ease and comfort. These accounts can be funded through cash inflows and cash deposits. Customers can withdraw cash or make transfers or payments to suppliers offshore.

Individuals of all classes and Corporates who works and earn with companies that pays in USD, GPB or EUR should consider opening a Dom account for easy payment–Transfer funds in foreign currency to other bank’s domiciliary accounts in Nigeria and abroad.

For the purpose of this content, we shall discussed how to open Domiciliary Account with all Nigeria bank starting from Access Bank Plc to Zenith Bank Plc .

How to Open Gtbank Domiciliary Accounts

GTbank customers can now open any foreign currency accounts available in US Dollar, Pounds,Yen or Euro. you can fund your account via traveler’s cheques, foreign currency cheque lodgments and cash inflows and deposits. You can also make withdrawals from any GTBank branch.

Also read: Heritage bank -How to Transfer Money, buy airtime & data and pay Bills as well 

Requirements to open Gtbank Domiciliary Accounts

Before any Guaranty Trust Bank customers and potential customers can open any Dom Account they will need to provide the following details to the bank namely:

1. Filled and signed Domiciliary Account opening form.
2. A copy of identification document (Driver’s License, International passport, National I.D Card, or any other acceptable by the bank).
3. One passport photograph.
4. Two (2) completed reference forms.
5. Utility bill issued within the last 3 months.

Access Bank Domiciliary Accounts

The opening balance of access bank Domiciliary Accounts is $100, £100 & Euro 100 but it doesn’t have minimum daily balance with Interest rate 0.01% p.a. (above 100,000 GBP, USD, Euro)

Access bank Cash Handling charge of 0.5% on withdrawals with No Monthly Maintenance fees.

Requirements to Open Access bank Domiciliary Accounts 

Access bank customers need to provide the following when opening Domiciliary Accounts either in Diaspora or In Nigeria provide he/she can provide the listed documents below.

1. Duly completed account opening form including signature mandate section
2. 1 Passport Photograph
3. Proof of Identity:(Driver’s License, International passport, National I.D Card, or any other acceptable by the bank)
4. Copy of utility bill issued within the last three months showing the same address as supplied.
5. Two signed reference forms{ current account holder only and must not be salary account}

First bank Domiciliary Account

First bank has FirstDom Plus and Domiciliary Account—-The firstdom is foreign currency deposit account is targeted at existing and potential domiciliary customers with balances of $5,000 and above. It offers attractive interest rates and highly reduced transfer charges.

First bank Domiciliary Account has the following features

1. Minimum opening balance of $500, €500 or £300
2.Minimum operating balance of $100, €100, or £50
3.No limit to number of withdrawals in a month
4.Cash withdrawal is at 0.5% flat per transaction
5.Inter sol transactions (account owner only) are allowed.
6.Guaranteed FCY deposit
7.Attractive pool for interest on bank fund
8.No restrictions on number of withdrawals

Required Documents to open First bank Domiciliary Account

1.Duly completed Account Opening Form
2.Duly completed specimen signature card
3.Two (2) recent passport photographs
4.Address verification document: Utility Bill
5.Valid means of identification e.g. International passport, Driver’s license or National ID card.

Read: How to register for GTBank online banking and Mobile app

First City Monument Bank Domiciliary Account

FCMB offer their domiciliary account in two form which are domiciliary savings and domiciliary current account

The FCMB Domiciliary saving account is designed to help develop savings habits in foreign currency for those customers who regularly receive or need to make payments in British Pound Sterling (GBP), the United States Dollar (USD) and European Euro with Opening balance of 10 GBP, 10 USD, 10 EUROS.

On the other hand, FCMB Domiciliary current account allows customers to maintain account in foreign currencies. It is designed to enable customers conveniently carry out foreign currency transactions irrespective of where they are with a low open balance of 60 GBP, 100 USD, 70 EURO.

Requirement to open FCMB Domiciliary Account

FCMB potential customers who intend to open a dom account should visit the bank with the following documents.

1. Completed account opening form
2. 1 passport photograph
3. Minimum of 18 years-old and provide the following:
4. International passport or Driver’s License or National ID card or Voters Card or 5.Resident Permit (for immigrants)
6.Address verification e.g. Utility bill, recent bank statement or local authority tax bill etc.
7. Two signed reference forms for current dom account.

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Keystone Bank Domiciliary Account

Keystone Bank Domiciliary Account is a current account denominated in foreign currency designed for registered companies and individuals and business owners (sole proprietors & traders).

The Minimum opening balance of 100 pounds, Dollars or Euros with Zero minimum operating balance

Requirements to open Keystone Bank Domiciliary Account

1. Duly filled and signed account opening form
2. 2 Passport photographs
3. Residence Permit (where applicable)
4. 2 references form

For company owner provide the following

5.Memorandum and Article of Association
6. Board resolution
7. Tax Identification Number
8. Stamp Duty(sign across the stamp
9.Documentary evidence of address for the company e.g utility bill

Also read: How to register for Heritage Bank Internet Banking and Mobile

Polaris Bank domiciliary account

The former skye bank now known as polaris bank offer domiciliary account for Corporates and  savings,Both has Minimum opening balance of $100, £50, €50 and Minimum operating balance of $10, £5, €5

Requirement for Polaris bank domiciliary Account Opening Documentation

To open polaris bank domiciliary account customers need to provide the following document

1. Account Opening Form
2. 1 passport photographs
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
7. Two suitable references “current account holder”

For Polaris bank domiciliary corporate account. company should provide the following

8. Certified True Copy of Certificate of Incorporation/Registration of Business Name
9. Certified True Copy of Memorandum and Article of Association. √ –
10. Certified True Copy of form C07/CAC7 (particulars of Directors) and C02/CAC2 (Allotment of stares).
11. Copy of Forms for application for Registration of Business Name
12. Board resolution to open account
13. Residence permit issued by the immigration Authorities (Expatriates)
14.T ax Identification Number (TIN)

Stanbic ibtc bank Domiciliary Account

Stanbic ibtc bank has USD 100 Opening deposit with Cash withdrawal fee of 0.05% of transaction value or $10, whichever is lower. Also customers can Withdraw cash from your account, anywhere in the world.

Required documents to open Stanbic ibtc bank Domiciliary Account

Existing account holders can issue an instruction to the bank. If they have already have a current account with the bank.

1. Two reference forms. must be a current account holder and not salary account
2. A valid copy of form of ID (original must be shown to your account manager).
3. Two passport photographs.
4. A “Know Your Customer” (KYC) form.
5. Certification of registration (for business owners).
6. Search report and partnership deed agreement (if any).
7. Valid residence permit for non-Nigerians.

Sterling Bank domiciliary account

To open Sterling Bank Plc foreign/ domiciliary account potential customers need to considered the following  details.

Minimum account opening balance is:
– USD 100
– GBP 100
– EURO 100
• Foreign cheque lodgment allowed
• Allows for offshore remittances
• Internet Banking Facility & SMS Alert

Domiciliary transfer requests can be submitted through sterling bank digital platforms (Sterling OnePay, OneBank or SterlingPro). Hard copy requests may also be submitted through any of our branches nationwide.

Requirement to open sterling bank domiciliary account {Documentation}

Open open Dom account with sterling bank take the following document along with you.

• Completed Account Opening Forms
• Valid means of Identification.
• One recent passport sized photograph
• Documentary Evidence of Address in Nigeria
• Two satisfactory references which must be current account holder and it must not be salary account.

For company account provide additiinal Board Resolution to open domiciliary a/c

While for foreigner should provide CERPAC- Combined Expatriate Residence Permit and Alien Card (West African nationals excluded).

• BVN (Bank Verification Number): This can be provided after account has been opened

Zenith Bank Domiciliary Account

Zenith bank offer Ordinary Domiciliary Account and Cash Domiciliary Account .it depends on which one you prefer.

Required document to open Zenith Bank Domiciliary Account

To open zenith bank dom account provide the bank with the following document stated below.

1. Account opening form (existing account holders with full
2. documentation only require a written letter or completion of account opening form without the provision of any other documentation).
3. One passport photograph of authorized signatories
4. Valid ID (Driver’s License, International Passport, National Identity Card or Voter’s Identity Card)
5. Public Utility Receipt dated within the last three months
(PHCNbill, water rate bill, tenement rate, rent receipt, telephone bill etc.)
6. Visitation Report (Residence

Unity bank Domiciliary Account

Unity bank Domiciliary Account is Suitable for individuals that wants a foreign currency account and the Opening balance $100 (€, £) or its equivalent in € & £ with Telex charge flat fee of $38

Requirement to open Zenith Bank Domiciliary Account

1. Account opening form

2. One passport photograph

3.Valid ID  card

4.Public Utility Receipt

Domiciliary Account – UBA Nigeria

With UBA Domiciliary accounts, you can receive and send funds in foreign currencies and it comprises of Freedom Dom Account,Dom Advantage Account, U-Care Plus Domiciliary Account and Corporate Domiciliary Account.

Minimum opening balance of $ 100, € 80 or ₤ 70 or its equivalent in other currencies Account is operated in any of the major currencies- US Dollar, GBP, Euro etc

UBA Domiciliary Account Fees/Charges

1.Withdrawals: 0.5% + VAT on amount withdrawn
2.Telex Transfer: 0.5% +VAT or US$10 or its equivalent whichever one is higher + 3.Communication charge of US$25 or Euro 20 or £ 15
4.Draft request: 0.5% +VAT or US$10 or its equivalent whichever one is higher + 5.communication charge of US$25 or Euro 20 or £ 15

Requirements to Open UBA Domiciliary Account

To open uba dom account customers need to provide

1.Valid Identification (International Passport, Driver’s License, National ID card, Voter’s card)
2.Two Passport photographs

3. Account opening form

4. Valid ID  card

Union bank Domiciliary Account

Union bank offers customers the opts to choose between Unionace USD Domiciliary Account,Domiciliary Current and Domiciliary Savings with Account opening balance of $100 or its equivalent in Pounds and Euros why Charge of 0.05% on amount withdrawn

The Swift charge of 22USD, 15GBP & 18EUR for transfers and also charge of 0.1% of principal amount (2% when cash deposits are transferred) Interest earned is 0.2% p.a (interest will be forfeited when withdrawal is more than 4 times in a month)

Union bank Domiciliary Account opening requirement

1. 2 passport photographs
2. Valid means of identification: international passport or Driver’s license/National Identity card
3. Current Utility bill (not more than 3months old) or signed tenancy agreement
4. BVN
5. CIU Form
6. 2 valid references from current account holders.