The United Bank for Africa has four major types of domiciliary accounts. We have treated that here and you can read up and see the 4 types of the domiciliary account they operate. Today, we will show you how to carry out the UBA U-Care Plus Domiciliary Account Registration. The U-Care Plus Domiciliary Account is a variant of U-care plus savings account. It is an FCY account denominated in USD, GBP, & EURO meant for parents who want to save for children’s secondary/tertiary education abroad. It is also available for students who desire to pursue their tertiary education abroad.
Furthermore, the Account is meant for students who wish to travel abroad for higher institution and for parents/guardian to open for their children/ wards for educational support of their children/ wards who are minors. So, let’s show you all you need to know about this type of UBA domiciliary account.
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UBA U-Care Plus Domiciliary Account Registration
To register UBA U-Care plus domiciliary account,
- You will have to approach any UBA branch near you and request the account opening form.
- Fill the form and submit and follow any other guideline you will be given.
- You will need the following requirements to complete the registration.
UBA U-Care Plus Domiciliary Account Requirements
Below are the list of requirements you will need. They include:
- Valid Identification of Parent/Guardian
- International Passport
- Driver’s License
- National ID card
- Voters ID card
- Two Passport photographs of Child and Parent
- Child’s birth certificate
- Address verification of the parent/guardian
- Two references from current account holders (if cheques & dividend warrant would be paid into the account)
The charges for the UBA U-Care plus dom account include the following:
- Withdrawals: 0.5% + VAT on amount withdrawn
- Telex Transfer: 0.5% +VAT or US$10 or its equivalent whichever one is higher + Communication charge of US$25 or Euro 20 or £ 15
- Draft request: 0.5% +VAT or US$10 or its equivalent whichever one is higher + communication charge of US$25 or Euro 20 or £ 15
- Commission on Foreign cheque & Traveler’s cheque issued: Negotiable subject to 1% max + VAT.
Terms & Conditions
- Opening balance of $100 or £70 or its equivalent
- Minimum operating balance of £350 or its equivalent.
- Interest Rate of 0.1% payable on the credit balance.
- Not more than 3 withdrawals per quarter or interest is forfeited