₦airaland Forum

Agbaletu:
Zenith Bank requires Current Account and the source of fund to the domiciliary account.

Even gtb ask for your source of fund......its not bad to ask ......back then when I opened with gtb I simply told them my source of fund is via forez trading . You can tell them u are a freelancer, u trade forex etc...

Activityj:
ok. Can GTB accept referees that own current account in other banks and not theirs?

Yes. I just opened a GTBank domiciliary account with one diamond Bank referee and one GTBank referee.

Zlatimi:
What if i want to transfer from my cirrent account to my dom account is itnpossible

its not possible. U can only transfer from your dorm acct to your dollar master/visa card for spending.......

Pressclix:
Now that we have more people into online business, the best time to talk about Domiciliary account opening is now. Because in one way or the other, you will always want to transact business that involves foreign currency.

I do receive foreign currency from my clients abroad, but not into my Naira account. If you have been receiving foreign currency into your Naira account, then you are being cheated because bank rate is not the same as black market rate. As at 02/08/2016, dollar exchange rate from black market is 381 while inter-bank exchange rate is pegged at 320. You see the difference?

What is Domiciliary Account?
Domiciliary account is a bank account in Nigeria that is operated in foreign currency. The account allows you save money in US Dollars, Pounds Sterling or Euro with your money valued at the prevailing exchange rate. This account is funded through bank deposits, traveller’s cheques, cash inflows and lodgement of foreign currency cheques.
Note that you cannot transfer money from a naira account to a dollar account. But you can easily transfer money from DOM account to another DOM account
So if you are a serious online business entrepreneur, and you don’t have a DOM account, then you should consider opening one for yourself. This is why I don’t too border about PayPal not receiving money because I use my DOM account to receive money from online stores abroad.
How to Open a Domiciliary Account in Nigeria
Many banks offers this services but I’m going to focus mainly on three (3) banks. GTB, Zenith and First bank.
How to Open a Domiciliary Account With GTBank Nigeria
Requirements
1. Identification Card: This simply means, valid Identity card like International passport, drivers lincense, National ID card.
2. 2 clear passport photos recently taken
3. 2 referee: Two persons that would serve as referee and fill each of the two reference forms that will be issued to you are required. Both referees need to have a current account each preferably with GTbank to facilitate opening of the account.
4. Utility Bill: Photocopy of your Utility bill issued in not more than 3 Months
Once you have the above completely in place,
>>Visit any GTB branch closest to you and walk straight to their customer service department.
>>Request for Dom account opening process and you’ll be guided through on what to do.
Zenith Bank Domiciliary Account Opening
Requirements
1. Account Opening form duly completed & signed.
2. Two (2) specimen signature cards duly completed.
3. Two (2) recent clear passport size photographs with your name and signature written on the reverse side.
4. Residence permit (where applicable).
5. A valid form of I.D. (International Passport, Driver’s License or National I.D.)
6. A copy of a Public Utility Receipt (not older than 3 months)
7. Initial Deposit.
8. Two (02) References.
9. Make sure you have an active account with the bank operating in not less than 6months.
Once you have the above in place, walk in to any Zenith bank and request for Domiciliary account opening. You’ll be guided on what next to do.
First Bank Domiciliary Account Opening
Requirements
1. Minimum opening deposit of of $500, €500 or £300 (you can always withdraw some part of the money leaving a minimum of $100 or £50)
2. Valid means of Identification: e.g International passport, National ID or Drivers lincence.
3. Two (2) independent and satisfactory references (For Checking account only)
4. Two (2) recent passport photographs are required
5. Utility Bill, to verify your address
6. Resident permit (for non Nigerians)
Once you have all the above in place,
>>Visit any Firstbank of Nigeria closest to you
>>Head straight to their customer service desk and request that you want to open a domiciliary account with them.
>>You might be asked if you already have current or saving account with them before. If you don’t, they will open one (current or saving) alongside with the domiciliary account.
>>After that, you will be given a foreign currency account opening form, and specimen signature card to complete and sign.
>>You can decide to take all the forms home , fill them properly and return back with them to submit
>>After they must have gone through the forms and make necessary corrections, you will be asked to go home.
>>Within 48-72hours, you will receive an SMS indicating that your domiciliary account has been open with your account.
>>Go back to the bank and pay in the minimum deposit to activate the account.

It is as simple as that. Receiving money in dollars, Euro and Pounds is very important if you are a blogger, online entrepreneur, PR or a freelancer.

Credits:PRESSCLIX.COM

do u withdraw in foreign currency?

Good

Activityj:
ok. Can GTB accept referees that own current account in other banks and not theirs?

Yes.

Good

Pressclix:
Normally You Will Paid in Bank Rate...

You deposit in USD/GBP/EURO and you withdraw in same.

ikorodureporta:
do u withdraw in foreign currency?

Off course all you have to do is go to d teller section and get the dollar teller and fill d amount you want to withdraw in dollars or any foreign currency...

What is the requirements for those residing outside the country

Stevengerd:
Close to two Years just gracin Frontpage,
If it is BankyW shaparly dem don push am reach Fp.... Awon oniranse!

The mod that just pushed this to fp is high on Osun weed.

A year and some month.

Just like you said, they push irrelevant stuff to FP.

It's easy opening domiciliary account with FCMB. My experience with them has been awesome.

Gentlevin:
Even gtb ask for your source of fund......its not bad to ask ......back then when I opened with gtb I simply told them my source of fund is via forez trading . You can tell them u are a freelancer, u trade forex etc...

You are right. I have a dom account with Zenith.

sagbar:
It's easy opening domiciliary account with FCMB. My experience with them has been awesome.

What's the requirements? I currently bank with them and to be honest, it's been a lovely experience especially when it comes to funds transfer.

If it's about simplicity, I can beat my chest that Wema Bank Plc stands tall in domicilliary account opening process. To get the Detailsed process visit any WEMA Bank branch or check their Website. Their charges are fair and their requirements comfortable

Why would some one require a referee for opening an account.. Is Bank transaction not supposed to be a private thing?... Between the bank and it's customer?..Why involve a third party.. References should be asked only when granting a loan and the ID and prove of residence of the customer was questionable.... Can the bankers here on Nairaland explain the main reason for asking for references Please...

you also need at least 40k.

the referees are just the problem, the difference between the black market and bank rate are not too much, unlike before.

Gentlevin:
its not a must.....when I opened mine, I had only a savings acct with them.

Kai!! You MIST have a current account. What probably happened was that the current account was opened at d same time as d Dom acc

Richy4:
Why would some one require a referee for opening an account.. Is Bank transaction not supposed to be a private thing?... Between the bank and it's customer?..Why involve a third party.. References should be asked only when granting a loan and the ID and prove of residence of the customer was questionable.... Anyways it's Nigeria I can't expect much..

D Dom acc is like a current account. So u need references. For instance at Gtb once u have a current acc, u can open a Dom acc thru ur mobile app. Its DAT simple

Pressclix:
Now that we have more people into online business, the best time to talk about Domiciliary account opening is now. Because in one way or the other, you will always want to transact business that involves foreign currency.

I do receive foreign currency from my clients abroad, but not into my Naira account. If you have been receiving foreign currency into your Naira account, then you are being cheated because bank rate is not the same as black market rate. As at 02/08/2016, dollar exchange rate from black market is 381 while inter-bank exchange rate is pegged at 320. You see the difference?

What is Domiciliary Account?
Domiciliary account is a bank account in Nigeria that is operated in foreign currency. The account allows you save money in US Dollars, Pounds Sterling or Euro with your money valued at the prevailing exchange rate. This account is funded through bank deposits, traveller’s cheques, cash inflows and lodgement of foreign currency cheques.
Note that you cannot transfer money from a naira account to a dollar account. But you can easily transfer money from DOM account to another DOM account
So if you are a serious online business entrepreneur, and you don’t have a DOM account, then you should consider opening one for yourself. This is why I don’t too border about PayPal not receiving money because I use my DOM account to receive money from online stores abroad.
How to Open a Domiciliary Account in Nigeria
Many banks offers this services but I’m going to focus mainly on three (3) banks. GTB, Zenith and First bank.
How to Open a Domiciliary Account With GTBank Nigeria
Requirements
1. Identification Card: This simply means, valid Identity card like International passport, drivers lincense, National ID card.
2. 2 clear passport photos recently taken
3. 2 referee: Two persons that would serve as referee and fill each of the two reference forms that will be issued to you are required. Both referees need to have a current account each preferably with GTbank to facilitate opening of the account.
4. Utility Bill: Photocopy of your Utility bill issued in not more than 3 Months
Once you have the above completely in place,
>>Visit any GTB branch closest to you and walk straight to their customer service department.
>>Request for Dom account opening process and you’ll be guided through on what to do.
Zenith Bank Domiciliary Account Opening
Requirements
1. Account Opening form duly completed & signed.
2. Two (2) specimen signature cards duly completed.
3. Two (2) recent clear passport size photographs with your name and signature written on the reverse side.
4. Residence permit (where applicable).
5. A valid form of I.D. (International Passport, Driver’s License or National I.D.)
6. A copy of a Public Utility Receipt (not older than 3 months)
7. Initial Deposit.
8. Two (02) References.
9. Make sure you have an active account with the bank operating in not less than 6months.
Once you have the above in place, walk in to any Zenith bank and request for Domiciliary account opening. You’ll be guided on what next to do.
First Bank Domiciliary Account Opening
Requirements
1. Minimum opening deposit of of $500, €500 or £300 (you can always withdraw some part of the money leaving a minimum of $100 or £50)
2. Valid means of Identification: e.g International passport, National ID or Drivers lincence.
3. Two (2) independent and satisfactory references (For Checking account only)
4. Two (2) recent passport photographs are required
5. Utility Bill, to verify your address
6. Resident permit (for non Nigerians)
Once you have all the above in place,
>>Visit any Firstbank of Nigeria closest to you
>>Head straight to their customer service desk and request that you want to open a domiciliary account with them.
>>You might be asked if you already have current or saving account with them before. If you don’t, they will open one (current or saving) alongside with the domiciliary account.
>>After that, you will be given a foreign currency account opening form, and specimen signature card to complete and sign.
>>You can decide to take all the forms home , fill them properly and return back with them to submit
>>After they must have gone through the forms and make necessary corrections, you will be asked to go home.
>>Within 48-72hours, you will receive an SMS indicating that your domiciliary account has been open with your account.
>>Go back to the bank and pay in the minimum deposit to activate the account.

It is as simple as that. Receiving money in dollars, Euro and Pounds is very important if you are a blogger, online entrepreneur, PR or a freelancer.

Credits:PRESSCLIX.COM

So far it will be nice to tell this Nairaland folks that there is a yearly charge on dom account so that they are aware

ikorodureporta:
do u withdraw in foreign currency?

Of course. In diamond bank they give u a check book in d currency ($,£,etc) which u use 2 withdraw. And u usually don't have 2 queue

Ok

Nice one

khanwale:
If it's about simplicity, I can beat my chest that Wema Bank Plc stands tall in domicilliary account opening process. To get the Detailsed process visit any WEMA Bank branch or check their Website. Their charges are fair and their requirements comfortable

I agree with you, WEMA BANK has one of the best domiciliary account, I receive and send money from any part of the world, even my naira card can be used to withdraw money on all ATM abroad.


I love WEMA bank new product, ALAT the first digital bank in NIgeria

I did that over 9 months still not yet activated. Saying shits like it's because the referees came from other banks. Besides i got deposits i can't withdraw, it's sickning bro.

You can also check the complete steps to open a GTBank Domiciliary account here.

Pressclix:
Now that we have more people into online business, the best time to talk about Domiciliary account opening is now. Because in one way or the other, you will always want to transact business that involves foreign currency.

I do receive foreign currency from my clients abroad, but not into my Naira account. If you have been receiving foreign currency into your Naira account, then you are being cheated because bank rate is not the same as black market rate. As at 02/08/2016, dollar exchange rate from black market is 381 while inter-bank exchange rate is pegged at 320. You see the difference?

What is Domiciliary Account?
Domiciliary account is a bank account in Nigeria that is operated in foreign currency. The account allows you save money in US Dollars, Pounds Sterling or Euro with your money valued at the prevailing exchange rate. This account is funded through bank deposits, traveller’s cheques, cash inflows and lodgement of foreign currency cheques.
Note that you cannot transfer money from a naira account to a dollar account. But you can easily transfer money from DOM account to another DOM account
So if you are a serious online business entrepreneur, and you don’t have a DOM account, then you should consider opening one for yourself. This is why I don’t too border about PayPal not receiving money because I use my DOM account to receive money from online stores abroad.
How to Open a Domiciliary Account in Nigeria
Many banks offers this services but I’m going to focus mainly on three (3) banks. GTB, Zenith and First bank.
How to Open a Domiciliary Account With GTBank Nigeria
Requirements
1. Identification Card: This simply means, valid Identity card like International passport, drivers lincense, National ID card.
2. 2 clear passport photos recently taken
3. 2 referee: Two persons that would serve as referee and fill each of the two reference forms that will be issued to you are required. Both referees need to have a current account each preferably with GTbank to facilitate opening of the account.
4. Utility Bill: Photocopy of your Utility bill issued in not more than 3 Months
Once you have the above completely in place,
>>Visit any GTB branch closest to you and walk straight to their customer service department.
>>Request for Dom account opening process and you’ll be guided through on what to do.
Zenith Bank Domiciliary Account Opening
Requirements
1. Account Opening form duly completed & signed.
2. Two (2) specimen signature cards duly completed.
3. Two (2) recent clear passport size photographs with your name and signature written on the reverse side.
4. Residence permit (where applicable).
5. A valid form of I.D. (International Passport, Driver’s License or National I.D.)
6. A copy of a Public Utility Receipt (not older than 3 months)
7. Initial Deposit.
8. Two (02) References.
9. Make sure you have an active account with the bank operating in not less than 6months.
Once you have the above in place, walk in to any Zenith bank and request for Domiciliary account opening. You’ll be guided on what next to do.
First Bank Domiciliary Account Opening
Requirements
1. Minimum opening deposit of of $500, €500 or £300 (you can always withdraw some part of the money leaving a minimum of $100 or £50)
2. Valid means of Identification: e.g International passport, National ID or Drivers lincence.
3. Two (2) independent and satisfactory references (For Checking account only)
4. Two (2) recent passport photographs are required
5. Utility Bill, to verify your address
6. Resident permit (for non Nigerians)
Once you have all the above in place,
>>Visit any Firstbank of Nigeria closest to you
>>Head straight to their customer service desk and request that you want to open a domiciliary account with them.
>>You might be asked if you already have current or saving account with them before. If you don’t, they will open one (current or saving) alongside with the domiciliary account.
>>After that, you will be given a foreign currency account opening form, and specimen signature card to complete and sign.
>>You can decide to take all the forms home , fill them properly and return back with them to submit
>>After they must have gone through the forms and make necessary corrections, you will be asked to go home.
>>Within 48-72hours, you will receive an SMS indicating that your domiciliary account has been open with your account.
>>Go back to the bank and pay in the minimum deposit to activate the account.

It is as simple as that. Receiving money in dollars, Euro and Pounds is very important if you are a blogger, online entrepreneur, PR or a freelancer.

Credits:PRESSCLIX.COM

I have a dom. acc with GTB but i did not enable it for internet banking before travelling out. Is there a way to do so from UK? i have messaged gtconnect and they have not responded yet

asawanathegreat:
No be person wey chop belleful go think of to go open account. Abegi make una free us like Terry G

The small money u get you use am go flex ur girl suya and drinks.. Later you will start accusing successful people as yahoo boys and ritualists... Waiting for manna to fall from heaven... For your information na money dey dey use to get money

How To Open A Domiciliary (foreign) Account With FCMB

Why choose the Domiciliary Saving Account?
• Opening balance and minimum balance of $10
• Interest bearing account but forfeited once there are more than 3 withdrawals in a month.
• Only outbound transfer is allowed on the account
• A serialized non-clearing cheque-type withdrawal booklet used for withdrawal by account holder only.
• Allows for Foreign Currency Salary payments and cash lodgement.
• Account can be operated either as an individual or a joint account
• NO charge on cash withdrawal.
• Offers Issuance of foreign currency denominated drafts
• Free E-mail transaction notifications
• Free monthly electronic statements

What do I require to open Domiciliary Savings Account?
In order to open a Domiciliary Savings Account,
• Completed account opening form
• 1 passport photograph
• Minimum of 18 years-old and provide the following:
• International passport or Driver’s License or National ID card or Voters Card or Resident Permit (for immigrants)
• Address verification e.g. Utility bill, recent bank statement or local authority tax bill etc.