For anyone who engages in international business and transactions, having a domiciliary account is almost a necessity. Although, there are many other international payment gateways that one can use to transact online, domiciliary accounts have a huge advantage over most of them. The least being the possibility of having a face-to-face engagement with your financial institution. This is why we bring you the guide on how to open Access Bank Domiciliary Account.
The Access Bank domiciliary account is easy to open an operate. It comes with lots of benefits for the customer. It allows you send and receive money directly from and into your account. Furthermore, the charges per transaction are quite minimal in comparison to other banks. We shall however, treat these in the paragraphs below.
Also See: Requirements For Opening Domiciliary Accounts For All Banks In Nigeria
To those who may not really understand what a domiciliary account is, it is simply a type of account that operates foreign currencies eg, dollars, pounds, Euros etc. So, in essence, a domiciliary account contains foreign currencies as against local currency of Naira.
How To Open Access Bank Domiciliary Account
So, let’s show you the simple guides you can use to open an Access Bank Dom account.
- Download the Access bank domiciliary account form. Or, you can walk into any Access Bank branch near you and request for the dom account opening form.
- Afterwards, you can submit the filled application form to any branch near you.
- Also, Scanned copies to be sent via email to sandip@accessbankplc.com.
- Then follow any other instruction that you would be given.
Access Bank Domiciliary Account Charges
There is a fixed charge for every transaction on the Access Bank Domiciliary Account. There is a 0.5% cash handling charge on withdrawals for monthly maintenance.
Access Bank Domiciliary Account Minimum Opening Balance
The minimum opening balance for the account is $100, $100 and $100.
Also See: How To Open Domiciliary Account For All Banks In Nigeria
Access Bank Domiciliary Account Requirements
The requirements for the Access Bank dom account includes the following:
- Means of address verification
- 2 references
- 2 Passport photographs
- Valid ID of each signatory
- Residence Permit (Foreigners)
- Forms CO7 and CO2 as applicable for companies
- Certificate of Incorporation / Business Registration for companies
- Memorandum and Article of Association as applicable for companies
- Board resolution as applicable
- Search report as applicable.
Types Of Access Bank Domiciliary Account
Before you go on using this guide on How To Open Access Bank Domiciliary Account, be sure of this. The Access Bank has two major types of domiciliary account. They are 1. Domiciliary Savings Account & 2. Domiciliary Current Account.
Also See: First Bank Domiciliary Account Requirements & Benefits
Access Bank Domiciliary Savings Account Features
- Opening balance of $100, £100 & €100
- No minimum balance required
- No Account maintenance fee
- Cash handling charge (COT equivalent) of 0.5% on withdrawals
- Interest rate 0.01% p.a. (above 100,000 $,£,€)
- No restriction on number of withdrawals
- Different variants of Debit Card based on the customer’s preference
- Access to alternate channels e.g. Internet and Mobile banking
- Availability of cheque book
- Allows direct debit instructions
- Third party transactions allowed
- All other transactions are charged at banks approved rate
Benefits
- Access to overdraft and loan facilities for qualified customers at very competitive rates.
- Remote access to your bank account
- Monitoring of account activities from the comfort of your home/office via internet, telephone and mobile banking.
- Third party withdrawals
- Convenient & flexible account opening requirements.
- Provides account information updates via SMS/Email alerts
- Access to cash anytime, anywhere with debit cards on ATMs
- Use of Mastercard, Visa and Verve debit cards on POS terminals.
Also See: Access Bank PayDay Loan Application Requirements & USSD Codes
Product Pricing
| PRICING | RATE |
| Cash handling charge | 0.5% on withdrawals |
| Closure of account | Free |
| Cash handling fees | Free |
| Cost of cheque book, ATM cards and all other transactions | Charged in line with the Bankers tariff |
Access Bank Domiciliary Current Account Features
- Opening balance and daily balance of [$, £,€] 500 for Classic
- Opening balance daily balance of [$, £,€] 5000 for Dom Plus
- Interest rate of 0.1% and 0.2%% p.a. but paid monthly (Classic and Plus respectively)
- Different variants of Debit Card based on the customer’s preference
- Access to alternate channels e.g. internet and mobile banking etc.
- Allows cheque deposits
- All other transactions are charged in line with the Banker’s tariff.
- $10 issuance of debit card
- Free debit card for Dom Plus
Benefits
- Convenient & flexible account opening requirements
- Remote access to your bank account using our channel platforms
- Monitoring of account activities from the comfort of home/office via internet, telephone & mobile banking
- Provides account information updates via SMS/Email alerts
- No monthly maintenance charge on the account
Restrictions
- No cheque deposits allowed
Product Pricing
| PRICING | RATE |
| Interest Rate* | Currently at 0.1%p.a (Classic) 0.2% p.a.(Plus) |
| Account closure requests | Not Applicable |
| ATM withdrawals on us | Not Applicable |
| All other transactions are charged at the Banker’s tariff | |
Interest rate is based on 30% of CBN Monetary Policy Rate
If you have any question on How To Open Access Bank Domiciliary Account, kindly use the comment box below.
