Opening domiciliary account (Dom) is currently achievable with GTBank, Zenth Bank, Diamond Bank, First Bank and UBA from my experiences and information gathered from colleagues and reliable sources. So if you need domiciliary account and want know how you can open domiciliary bank account in Nigeria the above banks, I have got you covered with step-by-step guide to do so.
In this post, I will show you how to open domiciliary account with these banks within 48-72hours. But before I go into details of showing you how to open domiciliary account with Diamond Bank,
, Firstbank of Nigeria, and Zenith bank, United Bank for Africa let’s understand what domiciliary account is and what it is use for.
Domiciliary Account is simply a bank account in Nigeria that uses foreign currency in its operation. The account permits you cash in US Dollars, Pounds Sterling or Euro with your cash esteemed at the exchange rate at specified time. You fund his account is with bank deposits, explorer's checks, money inflows and lodgement of outside cash checks.
It is not typically simple to exchange cash from Nigeria to a beneficiary abroad in light of the fact that numerous Nigeria banks are still just on the inbound cash exchange administrations rule of Central Bank of Nigeria (CBN).
In any case, one simple method for exchanging or sending cash from Nigeria to a beneficiary abroad is through domiciliary account cash exchange.
You can without much of a stretch exchange cash starting with one domiciliary account then onto the next either through web keeping money or by stand request exchange and this days it should likewise be possible through portable managing an account. The record encourages universal business exchange.
In this way, in the event that you are into universal business or you need send cash from Nigeria to your relative, relative or companion abroad; you need or open a domiciliary account. Domiciliary account is a contrasting option to PayPal account.
There are numerous Nigeria banks that offer domiciliary account administrations. Such banks incorporate
Guarantee Trust Bank (GTBANK), Diamond bank, Firstbank of Nigeria, UBA, Zenith bank, and so forth.
If you are an online business guy or lady and you are yet to have a dom account, you are on a long thing as you are missing a lot. With this type of account, you will receive your foreign currencies without unnecessary deductions and you would get the best value. For instance, you will be getting the current exchange rate of over N400 to a dollar instead of N305 to a dollar when you operate with savings account.
ADVANTAGES OF DOMICILIARY ACCOUNT
- You can receive direct foreign currencies
- You can pay for international transactions
- It gives you more control over unstable currencies
- You can serve as a referee for someone
DISADVANTAGES OF DOMICILIARY ACCOUNT
- You are restricted to one type of currency per account
- It is difficult to get referees
In this way, in the event that you are really keen on opening domiciliary account in Nigeria, underneath are processes on the best way to open a domiciliary account in Nigeria.
HOW TO OPEN DOMICILIARY ACCOUNT WITH GTBANK IN NIGERIA
Things required for opening of domiciliary account with Gtbank in Nigeria.
To open a domiciliary account with Gtbank in Nigeria, here are the things required;
- National ID Card– This includes your driver's licence, Voters card, national personality ID card or global travel permit. Any of them can serve.
- Little Amount of Cash for Opening the Account – before the domiciliary account will be initiated, you have to deposit at least 100 dollars into the account. Try not to stress over such a great amount about this, simply ahead and acquire on the grounds that after you have effectively opened your record, you can without much of a stretch pull back the cash back whenever and pay back to the individual you obtain from.
- 2 Passport photographs – two as of recently taken passports are need
- 2 Referees – two people that would serve as ref and fill each of the two reference forms that will be issued to you are required. Both referees need must have a account each ideally with GTbank to encourage opening of the account.
- Utility bills – photocopy of your service bill issued in not over three months prior is required. PHCN charge, phone bill, sterile bill or Water charge; any of them can serve.
Once the above requirements are met,
- Walk into any GTbank branch near you.
- Request for their customer care department and tell them that you need to open a domiciliary account with them.
- You can be inquired as to whether you as of now have any account with them some time recently. On the off chance that you have one. That is extraordinary! On the off chance that you don't, they will open one (current or savings) together with the domiciliary account.
- After that, you will be given an outside coin account opening structure, example signature card, two reference forms for you and your ref to fill.
- If you have your two refs with you at the bank, they can fill their structures and you fill yours as well and submit it. On the off chance that your refs are not present with you right there, you can choose to take every one of the forms home, fill them legitimately and give your refs each of the reference structure to likewise fill. Keep in mind, your two referees ought to be GTbank current account holders; in the event that you need them to open and initiate your domiciliary account inside 48hours.
- After legitimate filling of the forms, return back to GTbank and present the forms.
- After checking the forms for vital remedies and all redresses made, you will be requested that you go home.
- Within 48hours, you will get an SMS from them notifying you that your domiciliary account has been opened with your account number.
- Please, once you get the SMS; go to the bank again and deposit $ 100 into the account to activate your new domiciliary account.
TIP: Do you know you can start the GTbank Domiciliary account opening online? To spare yourself of long ques and pushing inside bank hall, you can do some of the processes online and go to bank to complete few others. To open GTBank dom account online click here
HOW TO OPEN DOMICILIARY ACCOUNT WITH FIRSTBANK IN NIGERIA
Here are things required or you have to know before opening domiciliary account with Firstbank of Nigeria.
- You need to deposit a minimum of $500, €500 or £300
- Don't stress over this; you can withdraw back some a cash in cash from it after opening the account, leaving a parity of $100, €100, or £50. Notwithstanding, please take note of that there is a punishment for, it draw in a 0.5% commission.
- Again, money withdrawals from a money inflow or assets exchanges will (credits) pulls in a 1% commission
- Two (2) free and attractive references (For only Checking account )
- Two (2) recently taken passport photographs
- Utility Bill is required – PHCN charge, phone bill, sterile bill or Water charge; any of these can serve to verify your address
- Valid method for identification e.g. Worldwide international ID, Driver's permit or National ID card.
- Resident permit ( for non-Nigerians)
Once the above requirements are met;
READ ALSO... HOW TO OPEN PAYPAL ACCOUNT IN NIGERIA
- Walk into any Firstbank of Nigeria near you
- Head straight to their customer care and solicitate that you need to open a domiciliary account with them.
- You may be inquired as to whether you as of now have current or savings account with them some time recently. In the event that you don't, they will open one (current or savings) close by with the domiciliary account.
- After that, you will be given a foreign account opening form, and example signature card to fill and sign.
- You can choose to take every one of the forms home, fill them appropriately and return back with them to submit
- After they probably gone through the forms and make essential redresses, you will be requested that go home.
- Within 48-72hours, you will get a SMS notification that your domiciliary account has been opened with your account.
- Go back to the bank and deposit the above stated amount to activate the account.
- Once done, your record is prepared! Domiciliary record can be an alternative to PayPal account.
TIPS:Do you know you can start the FirstBank domiciliary account opening process online? Do you know you can download the individual account opening form on the web, complete filling the forms and signature cards? Okay, now you know. Download Firstbank Domiciliary account opening forms hereAfter that, submit them to the nearest FirstBank branch
HOW TO OPEN DOMICILIARY ACCOUNT WITH ZENITH BANK IN NIGERIA
Zenith bank is one of such banks in Nigeria that offer domiciliary account services and opening domiciliary account with Zenith bank is simple and basic particularly on the off chance that you have a current record, savings or current which you have keep running for no less than 6 months with Zenith bank.
There are around couple of things Zenith bank would required from you simply like when you need to open domiciliary record with some other bank in Nigeria.
Things required for opening of domiciliary account with Zenith bank are;
- A Valid ID card – This can be your National ID Card, Driver's License, or International Passport.
- 2 Passports – two recent and clear passport photograghs
- Utility bill – A late service charge like PHCN bill or Water charge, phone bill, clean and so on not more established than 3 months.
- 2 Current Account holders/Referees – two referees with Zenith bank Current Account
- Little Deposit – a deposit of $100 might be required for enacting the record. If you don't mind this is opening least sum they are gathering as of the time this article is composed; the likelihood of changing the sum tomorrow is there.
Once you meet the above requirements,
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- Walk into any Zenith bank office near you.
- Meet their client administration Reps and solicitate that you need to open a domiciliary account with them. You will be coordinated to the individuals in control.
- You will be given a Foreign Currency Account Opening Form, example signature card, two reference frames for you and your arbitrator to fill.
- If you are with your officials at the bank, you can fill the structure promptly and they fill theirs. Something else, take every one of the structures home, fill them appropriately at your helpful time and give your arbitrators each of the reference structure to likewise fill.
- After legitimate filling of the structure, do a reversal to the bank and present the structure.
- They will get the structure, check for redresses and after that request that you go.
- Within 48-72hours after check, they will send you a SMS illuminating you of your new domiciliary record and the record number.
HOW TO OPEN DOMICILIARY ACCOUNT WITH UBA IN NIGERIA
United Bank for Africa (UBA) also offers domiciliary account services although many people are not aware of this. They adopts similar method used by other banks and their requirements are as follows:
Requirements
- Minimum opening deposit of of $100, €100 or £100, which you withdraw some part of the money.
- Valid means of Identification: e.g International passport, National ID or Drivers lincence.
- Two (2) independent and satisfactory references (For Checking account only)
- Two (2) recent passport photographs are required
- Utility Bill, to verify your address
- Resident permit (for non Nigerians)
After that, walk into any of the UBA nearest office and request for Domiciliary account opening.
HOW TO OPEN DIAMOND BANK DOMICILIARY ACCOUNT IN NIGERIA
Requirements
- Minimum opening deposit of of $100, €100 or £100, which you withdraw some part of the money.
- Valid means of Identification: e.g International passport, National ID or Drivers lincence.
- Two (2) independent and satisfactory references (For Checking account only)
- Two (2) recent passport photographs are required
- Utility Bill, to verify your address
- Resident permit (for non Nigerians)
After that, walk into any of the Diamond bank office close to you and request for Domiciliary account opening.
That is how you can open a domiciliary (Domi) account in Nigeria and start receiving foreign currencies down here in Nigeria. If you need any question, don't hesitate to ask me via the comments section as I will do my best to guide you through. Thanks.
