GT Bank beat First Bank Hands down.

[color=#990000][/color]please use [b]please use [/b]please use Diamond Bank they are reliable nd fast

Lins01: Which Bank charges lesser fees in Wire Transfer?
Any time i wire money to my merchant in China, GTBank charges me more than N10,000 for Wire Transfer fee.

I agree with you sir, GT bank gives good and quality services, but their charges are too high.

Wetn concern me wit bank?

wen forest dey across the road were i go bury my dough...

Standard Chartered and Ecobank.

Use Fidelity Bank, they are fast and their charges are reasonable.

Hmm! see comment

I will recommend First Bank. With 1st bank you can transfer money from Nigeria to abroad via your Dom account instantly without having any interface with the bank staff. The online portal enables you to send the money and it will hit the recieving account abroad in less than 24 hours, depending on the time zone.

I have a problem with GT Bank online transfer system because it is not instant and requires manual intervention. Even for local transfers, GT bank takes 24 hours while other banks have instant real time online transfer system.

arbitrage:

That was not supposed to be and did you try another branch after the first refused? I guess your friend's UBA did it from Naira account. That means your friend collected $30 equivalent remaining as his charge for doing it for you or probably COT that will follow his current account by month end.

Actually, I paid the money into his reactivated domiciliary account which had a cash balance of $36. UBA said he had to top up the account to $100 before any wire transfer could be initiated. After that,it was the stress of buying dollars and depositing it in the account. I didn't try to check other branches after the branch where I had an account couldn't offer me any solution other than opening a domiciliary account.

If not for the emergency, I would have waited for the GTB accounting opening process to be completed.

Lins01: Which Bank charges lesser fees in Wire Transfer?
Any time i wire money to my merchant in China, GTBank charges me more than N10,000 for Wire Transfer fee.

It depends on how much you're sending. UBA charges something similar.

GTB all d way.

You should try Diamond and GT bank. Diamond is faster and both have online banking portal that allows you transfer funds. Diamond gets to America same day. Diamond fees are cheaper based on the type of accounts i'm operating. Gt might also get there same day or next day. Last I checked GT charges flat telex rate and also charges a percentage on amount to be transferred.

arbitrage:

Almost all banks that offer internet banking platform for domiciliary accounts are doing that. They usually require you to log onto your internet banking and you fill in the necessary details of the sender and recipient. Then the bank will do the transfer based on your request. Apart from going into banking halls to do that, most of them are allowing placing such transfer request via internet banking. I know very well of GTBank, Union and Access because I have used them all without visiting the banks. Note that the transfer usually takes like 48 hours or more to get the recipient abroad credited.

If you are doing the internet banking transfer, it will be from your dom account. So your dom account is in foreign currencies (dollars, pounds or euro). The option of doing transfer from Nigeria Naira account is not usually available via remote internet banking but visiting the banking hall. More so, the banks are discouraging that as they want you to source for dollars on your own rather than taking your Naira and selling you their dollars. They will rather ask you to obtain their Naira visa or mastercard to spend abroad. You can inisist that you are not traveling abroad to get naira there in dollars and so they will give you CBN Form A. The form is usually meant for when you are importing goods or services from abroad, or paying school fees and when traveling and needs BTA/PTA or such like. They are to collect your Naira (probably from your Naira account) to give you the foreign equivalent at their stipulated rate and charges. These days, they will not want to give you the foreign cash for BTA/PTA but will rather pay it into their own visa or mastercard for you to spend abroad. I case of school fees or paying merchants abroad for goods and services, they will take your Naira and you will fill CBN Form A if you insist on paying from your Naira account but that will be in the bank.

As I said before, GTBank will even give you choice to pay your transfer charges on dom account from either your dom or from Naira account but others will usually charge from the same dom account they are helping you to transfer from. In terms of charges/fees, GTBank is higher than most of them. For example, whn I transferred $9500 through GTBank, the charges usually total around $135-$143 while $9500 through Union came to around $120 - $125. But the last $10,000 I sent through Access was just charged at total of $97.5 after their charges are listed out.

If Ecobank is cheaper as someone said, that will be nice. In fact, I have transferred just $50 through GTB before and the following charges totalled $50. So, the mentioning of $60 earlier by someone is still on the lower side or may be he did not transfer much funds.

it usually cost me about $95 to transfer $9500 through UBA and they seem to be the cheapest and it takes less than 24 hrs from when the transfer is done, so just tell them to scan it immediately cos all transfer slip are scanned to. their head quaters for processing, the last I did was $2700 and was charged $60 but. the maximum single transfer adviced which is $9500 is still under $100 in transfer fee. open a DOM. account with $100 and fund the account with the dollar you intend sending and also the charges. note minimum balance is the $100.

Nuke: You should try Diamond and GT bank. Diamond is faster and both have online banking portal that allows you transfer funds. Diamond gets to America same day. Diamond fees are cheaper based on the type of accounts i'm operating. Gt might also get there same day or next day. Last I checked GT charges flat telex rate and also charges a percentage on amount to be transferred.

What type of account? Diamond Bank is my first choice but their online banking portal comes a distant second to that of GTB.

interesting! Wow! pls I have been confused about dimiciliary account. I heard it when I was in university trying to pay my exam fee.pls explain to me

Fidelity bank is the best. It give you opportunity to transfer close to 100,000 dollar in a day. When it come to FX transaction give it to Fidelity Bank.

Fidelity bank,they deliver within 48 hours,lower transfer charges and the option of paying your charge through your naira account.

Try Stanbic Ibtc. You can make transfer online. Gtb is also good but could be slow at times. Not there fault, have a lot of customers to attend to. But I have used both and they are okay. There charges are almost the same too.

I have been using zenith bank with no issues. Always 24hrs to receive the funds in Canada or the US!

What makes Fidelity bank better than Zenith and GTB

texaco1: Hello ,please I will like to know which of the nigerian banks has the best domiciliary account services in nigeria.
Thanks

Ore mi ma gora e, na GTB

Eyop: What makes Fidelity bank better than Zenith and GTB

good question

pls what is the meaning of domiciliary account. u guys sounds detailed of this topic but no one wanna educate thousands of us that do not.

kenonze: pls what is the meaning of domiciliary account. u guys sounds detailed of this topic but no one wanna educate thousands of us that do not.

a domiciliary account is a type of account that is used to do foreign transactions . it can be used to receive money from abroad or used to send money to other countries . this is a feature which is not available to other account types . are you ok now ?

texaco1:
a domiciliary account is a type of account that is used to do foreign transactions . it can be used to receive money from abroad or used to send money to other countries . this is a feature which is not available to other account types . are you ok now ?

You just gave him the Nairaland version but he would have save you the stress and make use of Google.

am so happy, seing expereince people contributing. between fidelity and ecobank which of them is better for dom. Acct

Chlbenze: am so happy, seing expereince people contributing. between fidelity and ecobank which of them is better for dom. Acct

To me none . Go to banks that have a name in foreign exchange transactions.

Eyop:

To me none . Go to banks that have a name in foreign exchange transactions.

which of the banks, cos my main objective of a dom. Acct is just to receive funds

Chlbenze: which of the banks, cos my main objective of a dom. Acct is just to receive funds

My brother go to GTB because the masses cannot be wrong. Every bank has its own flaws but that doesn't mean it should be condemned out rightly. GTB has been in this Foreign Exchange stuff for a long time now and most people i know keep praising them but apart from GTB you can also choose First Bank,Zenith and Stanbic IBTC. These are all banks with a name and will do everything to maintain standard. Forget about Fidelis Bank oh

Chlbenze: which of the banks, cos my main objective of a dom. Acct is just to receive funds

try access bank

I've been using Skye bank since 2009. All these charges you guys are calling are sooo high. Its a naira account that you can also make dollar deposits in. Minimum amount transferable is $100, and I usually get a receipt for transfer within 48 hours. Charges are $10 + 1% of the amount you are transferring. So for $100, its just $11 for bank fees. Whatever convenience Gtbank or Access gives, I've not seen a better deal than Skye bank.....not so sure if the account plan is still on offer, u would have to check.

Fidelity bank is the best and cheapest in terms of domicillary transactions. You can verify for yourself.