How to open a domiciliary bank account in Nigeria

Posted by Felix Okoli on Sunday June 15, 2014 at 16:55:49:

When a Person needs to make a payment for something outside the shores of Nigeria, dollar is always required. As the name indicates, a domiciliary account is an account that is based in dollars. You can open a domiciliary account with any of the banks operating in Nigeria, and domiciliary account holders are usually issued a Visa Card or a MasterCard. Before I go into the main topic which is how to open a domiciliary account,

Some benefits of having a domiciliary account
===============
- Domiciliary account can be used to easily transfer money across the world
- You can use the Visa Card or MasterCard that comes with your account to withdraw money in an ATM in another country, so dorm account is not restricted to a country.
- You can use your dorm account to receive bank wires from any part of the world.
- You can use it to save money in foreign currency

Things needed
=========
- A recent Passport photograph
- Recently paid utility bill
- Initial opening balance of about $100
- Valid Identity card such as your driver’s licence, a National ID card or an international passport.
- One or two references with current account

How To Open A Domiciliary Account:
==============
- Enter the bank you want to open the dorm account with, visit the Customer care desk and request to open a dorm account.
- You will be given a form to fill
- Fill and submit the form along with your documents
- They will give you your account number and ask you to pay an initial deposit of about $100 into the account to activate the account.