This is a very comprehensive guide on how to open domiciliary account in Nigeria for all banks. Domiciliary accounts doesn’t take eternity to open and operate in Nigeria. The only issue is that few persons know how to do this. In this guide, you will be shown how you can open one for each bank. Also, for those who do not even know what a domiciliary account is, we will explain to you. Finally, you will be given the required documents you need to carry out this exercise.
A domiciliary account is a bank account which allows you as a user to make transactions in foreign currencies. If you open a domiciliary account, you will have the opportunity of receiving and making payments directly in foreign currencies.
The account is an alternative to PayPal in Nigeria since at the moment, does not allow Nigerians use the platform. Not limited to these, you can get your payment in foreign currency and change to a higher rate in the market anywhere and anytime.
How To Open Domiciliary Account In Nigeria For All Banks
- Walk-in to any Nigeria Bank of your choice and request for a domiciliary account.
- Present a valid form of identification (maybe your driver’s license, national ID card, international passport or sometimes voters card), two (2) recently taken coloured passport photographs, two current account holders referee and Photocopies of your utility bill issued within the last 3 months.
- You will be given an account opening form to fill and guided in how to fill.
- You will also be presented two forms by the bank which is to be filled by the two referees.
- After submission of forms, your domiciliary account should be active anytime within 48hrs.
Requirements For Opening Domiciliary Accounts In Nigeria
Different banks have their different requirements for opening a Domiciliary account. However, the general requirements are the following:
- Duly completed Account Opening Form.
- At least, two (2) recent passport photographs.
- Address verification document: Utility Bill.
- Valid means of identification e.g. International passport, Driver’s license or National ID card.