₦airaland Forum

Chlbenze: how long does it take to recieve money abroad to ur eco bank dom acct? Also how much is their mantance fee monthly or yearly?
And do i need a ref. B4 i can open a dom acct since i have a savings acct alrdy with them

There shouldn't be anything like maintenance fee on dom account. It's only dollar card that GTBank even charges annual maintenance fee. Transfers should be like 2 days or more.

texaco1: ok,you seem to be an expert on this issue .what I need is a bank that can send money out of nigeria quickly without the account owner going to the bank.
Secondly ,do they all require deposits to be in dollars or naira?I was told that nigerian banks require deposits to be in dollars for dom accts

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.

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Since you need the address for just correspondence and not office space, can it be a postal address (PO Box) in that area of lagos or must it be street address?

texaco1: Thanks . Do they operate online money transfer out of nigeria too through dom acc?
I have been getting conflicting reports and suggestions about their services

What do you mean by online money transfer out of Nigeria? Do you mean sending money like you do to another recipient in another bank here in Nigeria within seconds? No, they don't do that instantly but their transfer of money abroad is under request menu, wherein you will fill all the details of the recipient bank abroad and they will effect the transfer for you during working hours from your domiciliary account.

From my experience, GTBank can send to other banks within Nigeria (still within same request menu) but other banks are saying they only send outside. But on the drawdown side, GTBank charge is higher than Union's charge while Access bank's charge was even less than both of GTB and UBN the last time I used it about 2 weeks ago.

This is funny. Oyedepo slaps Goodluck. Watch the clip:


https://www.youtube.com/watch?v=pFYCzFHbgl8

I think I'm impressed that the guy is making some developmental initiative in energy sector. Since 12V battery seems to be the main source of power, and just as one of the critics pointed out here, he may have to expatiate on how the battery will be charged sustainably once the stored power is depleted by the driven alternator and appliances.

haychPee: Check myusdotcom...it's lk dey offer d same tin bt am nt really sure.

MyUS you gave him is for US address service and not for the UK he's asking for. Let him try myUKmailbox dot com for the UK solution provided he has paypal means of payment because their services are paid for via paypal. In fact, they brought me a 3D blu ray recorder from Germany this week at 65 pounds postage fee. They are reliable.

Optimisticgondy: Can one withdraw the 100 dollars after the account has been opened?

Yes and no. I guess you are asking of possibility of withdrawing the initial minimum opening $100 dollar from dormiciliary account. Right? Yes, you can withdraw your money after fulfilling the minimum requirement to open as long as the bank did not tell you there is a minimum operating balance. No, you will not be able to withdraw the $100 minimum from your dorm account because most of the banks will charge 1% of any amount you are withdrawing over the counter from your dorm account. So, if you take the 1% of your minimum opening balance of $100, that will mean you can only withdraw around $99 from the account when withdrawing the cash over the counter. Though someone told me of recent that he was not charged by GTBank when he did a withdrawal over the counter. Alternatively, if you withdraw by requesting bank to bank fund transfer or wire transfer kind of withdrawal, the charges will be more especially with GTBank, which is higher than some others I have used.

kuzcobi: Hi, people. pls, I have a dollar dom account but can I cash my pounds check through this account or do I have to use another account in pounds? thanks.

Ordinarily, you should be able to receive from a pound sterling wire transfer into your dorm account as your receiving bank here will automatically convert it at their own rate to dollar in your account but I am not too sure of the cheque option. I received wire transfer in pounds from the UK into my dollar dorm last year but the clearing of my issued dollar cheque was into another foreign currency handled by another bank outside Nigeria. I expect anyway that a bank should be able to clear the pounds sterling check and credit your dorm account with dollar at their own conversion rate. By the way, you can find out from your bank.

jascon1: Can I make withdrawal abroad on my dormicilliary account?

You cannot except your bank issues you a card that is linked to your dorm account, which you can then use over there to spend from your dorm account. Alternatively, you will need to initiate an online transfer (e.g GTBank internet FX transfer) over there to another account/recipient where you are and so you can have your dorm fund here wired to you over there for you to receive and spend.

justi4jesu: Please how long does it take to receive dollars that was wired into my FIRST BANK DOM A/C,d money was wired from a german bank since on wednesday and am yet to receive it? And some people said it can sometimes take a week to receive it. Please who can help with some explanations on first Bank and their Swift Code.

Usually lasts from 3 to a week working days. I guess you must have received your fund since that time but holiday could extend your working days some times. You must have given your swift or sort code to the originating bank before they sent the wire transfer to you. Didn't you? Anyway you can get the swift code from First Bank itself and it's usually 9 digits alphabets like FBNINGLA or so just like GTBINGLA for GTBank.

dejiswaggs: please tell me how to open a domiciliary account in Nigeria.

By going into a bank to requst such account opening. They will give you forms to fill and reference forms to complete. Same KYC documents requirements like current account plus your minimum opening balance of usual $100 or in pounds or euro or thereabout.

Optimisticgondy: Abi o. Hope biz is fine I rarely comment on Binary Options thread cos of dissatisfaction with some guys' attitudes there.

As regard the cheque, I already got it. My concern is that it has been issued and sent since April 23rd, which means it will become stale on 23rd October (Six Months). I'll start processing opening the Domiciliary account on Monday and most current account holders I've been seeing are salary account holders which those banks dont accept as referees. But with faith, I believe I'll get 2 current account holders as referees latest next week Friday. Won't the cheque become stale before the whole processing on the Domiciliary account opening is completed?

The opening speed is dependent on confirmation of your referees by their bank. But it could be better if (1) you are opening the dom account with a bank where you have existing current account, since you must have done KYC there before. and (2) if your referees are also from same bank. In fact, the second option is like express/auto confirmation for the bank to open your dom account.

Aside that, you need not worrying if the reference confirmation delyas and and account opening passes 23rd of October because your foreign issuer can still re-issue the check again while cancelling the expired one from being cashed. I think you may need work on your postal method in that case to expedite things.

mintyx: For those saying Amazon accept GTB card, i dont know about that but if they have started now then that is lovely. I use payoneer ANYWHERE online and it hasnt been rejected anywhere!

Yes, Amazon accepts GTB naira mastercard and other Nigerian cards. I have bought both small and big items this year using my Naira visa card and GTB naira mastercard. As for payoneer mastercard, how will you fund it regularly apart from initial allowed private funding? Also, payoneer will be rejected on a site that requires 3D security known as Mastercard securecode or Verified by Visa (VbV) as the company (Payoneer) told me yesterday that they do not offer that second layer/level of security.

karlxavier: Thanks @ †ђξ op but I want to ask a simple question. Does myus help someone to buy from eBay? How can someone without paypal shop from eBay? Thanks

I wrote a topic about this before. When you get to the point of checkout to pay by paypal, instead of logging in to your paypal account, choose to pay by credit card. A foreign card like paypal with a US address will do.

sonyc00: So arbitrage you are saying that if i tell dhl to deliver directly to my house i can avoid paying all these custom charges then.so that means that i have to use myus.com for this.so am i assured that dhl will find my house or they will just put it in their nearest office

You don't tell DHL to deliver in your house, that is their business to do. A courier company like DHL, UPS or Fedex is paid to deliver at your doorstep. It is your shipper/mail forwarder and not DHL that you can tell which courier to be used for your service if they have more than one they use. DHL delivering your item at home does not mean that they will not ask you to come and pay customs dues before delivery if you understand my earlier post.

Remember dealdey is Nigerian and dealday American. Check your topic and content please.

sonyc00: Thanks a lot,i am interested,tell me more about how i can use this impex couriers to buy from amazon and can i use my ecobank visacard,since am still young and i dont have a mastercard.and do they do door to door delivery.i also hope they dont have any hidden charges in their deliveries.this is my first time,so please be thorough in your explanations.thanks

I wouldn't know what you mean by you are young with visa card and that you don't have mastercard. Is anyone telling you lies that Visa card is for young people and mastercard for adult? Don't believe such fables. The money you have in your card is what matters.

Back to your questions and concerns, you can order from Amazon with your Ecobank visa card. You do not need a dollar card as the other GT mastercard holder proposed. I have bought things from Amazon with both Visa and Mastercard in Naira denominations without using dollar card. I bought both small items (like Blu Ray discs) and big items (like 3DTV) using my naira cards successfully on Amazon.

On the shipping, there are many forwarders like myUS.com (that requires subscription payment) and free option like myamericanshipper.com but the bottom line is your choice of whether you are considering fast arrival of your items or cheaper cost of shipping your item. If you want fast delivery, myUS is good as they used DHL to bring my items. My 3DTV left US and got to Lagos between 2 and 3 days. While longer shippers like aascargo.com will take weeks but at very cheaper rate. But the problem I experienced with shipping from shippers is with the DHL guys in Nigeria after arrival. They will clear your item and ask you to come and pay outrageous amount for custom duty pretending to be the reason your item is delayed. They have the item already but they make those deals in connivance with others. In fact, I paid N116,000 to DHL as custom charges before they brought my 3DTV in May this year. I have never paid any fees for shipment that came through Fedex and that one honestly was the only one I had to pay through DHL. Same DHL delivered electronics I order online from Germany just yesterday in my house without asking for custom fee, whereas a colleagues was telling me two days ago that they asked him to come and pay more than the cost of item and shipping when he ordered stylish beaded curtains from China's Aliexpress. He had to raise eyebrow to DHL Africa corporate and requested that it be returned to custom for re-appraisal before custom reportedly said he has no due/charge to pay on the item. Meaning that some DHL guys are crooks.

So, your item can get to you in Aba if you use myUS or others but make your choice between speed or cost to decide your delivery because you already have all it takes to purchase from Amazon.

amanatulah: @OP can i use these cards to make purchase at Ebay and amozon?

Yes, it can be used there but why not preferably use your Naira card on Amazon since they accept Nigerian card?

einsteino: arbitrage pls can anyone put me through on the dos and donts while opening paypal in nigeria.

There are many threads and lessons learnt on this issue here on Nairaland. Just search all and read up.

Tek%kyboy:
@op i access the internet wit operamini7 on my sybian s60,pls can i get a free vpn/ip on the opera?

Just follow the instruction to confirm if you have the foreign IP as long as it is opera mini.

Okattamgbee: bro please can you send your mail address to charlesdedon@gmail.com God bless you

I have sent it several times and you have not acknowledged it.

wizeboy11: it is not an exchanger site but a monitor...i wll even like to get ur contact not abt dis sha

Yes but the site will show you all ecurrencies exchanges and exchangers that you can possibly get for your paypal out exchange.

What is your negotiation rate like?

What you are ordering will get to your address but it will cost you much I guess, such that you may consider buying it within your area. First, the payment on ebay will be by PayPal, which you may not get at normal naira to dollar rate. Also, after buying from ebay using paypal at higher than regular rate, you will need to ship the item to a US address, which may be at another additional cost. Though you can get free address at myamericanshipper.com but you will need to pay for the forwarding of your item from that US address to your location in Nigeria. That will be another cost to consider additionally. But be assured that if your US mail/parcel forwarder is sending the item by DHL or Fedex courier, you can get your item at your house number address in Ikare in matter of days. But it may all sum up to higher cost than buying locally depending on the item.

wizeboy11: Please do one here know of any way to exchange paypal to perfectmoney or webmoney or any way to withdraw..thanks

There are so many exchangers mentioned here on nairaland as well as individuals who need such service. Just post your request and rates and people will respond. Google some also.

bebe2: naira still needed,

Are you still dealing with only UK based people or all who can offer what you need?

Can you share the reason why you don't want to make the payment by yourself?

I think cbn's cenbank.org or cbnnigeria.gov might be your starting point or ask your nearest bureau de change. mine is online no office or licence.