Open Domiciliary Account with GTB, First Bank, and Zenith Bank – Dollar Account
There comes a time when your normal current or saving account becomes not useful in terms of using it for a business transaction.
As a business person, you might want to make or receive payment in a foreign currency, and your current account won’t help you in that.
This is where having a domiciliary (dollar) account comes to play in your business and individual life. A domiciliary account allows you to do a business transaction in different currencies. You can make or receive payment in dollars, pounds, euros or cedis irrespective of the amount.
Now, do you want to know how you can open a domiciliary account with some of the top leading banks in Nigeria? Financial institutions like Guaranty Trust Bank, Stanbic IBTC, and Zenith bank are best institutions to open a domiciliary account with.
With a domiciliary account, you can make deposit or withdrawal from anywhere in the world.
Opening a Domiciliary Account with GTbank
Opening a domiciliary account with GTbank is friendly and no stress involved.
Step 1: Go to any Gtbank branch you can find around you, go to their customer care service office and tell them you want to open a domiciliary account.
Step 2: Normally the person in charge will ask you if you already have an account with them, if you don’t, you will be asked to open one alongside your domiciliary account. But if you already have, that will be good and they will give you a foreign currency account opening form to fill alongside two reference form for your referees to fill too.
The reference form is to be filled by two referees who must be a current account holder in GTbank. If you can’t take them with you to the bank, you can carry the form with you to their house for them to fill.
Step 3: After you and your referees have completely filled the appropriate forms, return the form back to the bank. Submit the forms with an ID card, two passports and any utility bill like electricity bill.
After the person in charge has gone through the form to check for possible corrections, you will be asked to go back home and wait for an SMS alert within 48 hours.
Step 4: After you have received an SMS alert from GTbank, go to the bank branch with a deposit of any amount equivalent or above $50 for the account to initiate your domiciliary account.
After you have followed these steps, your domiciliary account is ready and you can start using it.
Opening a Domiciliary Account with FirstBank
Opening a domiciliary account with First Bank is of no big difference, just that you will be needing up to $500 or €500 to open the account.
Step 1: Go to any First bank branch nearest to you and straight to the customer care service office and tell them you want to open a domiciliary account.
It is a must that you have an existing account with them whether current or savings (it goes for all banks) if you don’t, you will be required to open one immediately.
Step 2: You will be given a form with two references form. The references form is to be filled by your referees who must possess a current account with the bank.
You can carry the forms home with you and return them when you are done filling them.
Step 3: You go back to the bank after you and your referees are done filling the forms and submit them alongside your ID card (National ID card, Voter’s card etc.), two passports, and utility bill. You will be told to go home and wait for an SMS alert from them within 48 hours.
Step 4: After you have received the SMS, you are expected to carry along any amount equivalent or above $500 or €500 depending on the Naira exchange rate at that given time.
The money will be used to validate the account, but don’t worry, you can still withdraw half of the money later when you want.
With all these steps followed your first bank domiciliary account is opened and ready for the transaction.
Opening a Domiciliary Account with Zenith bank
For you to be able to open a domiciliary account with zenith bank, you must have an existing account that has been in operation for a minimum of six months.
Walk straight to any zenith bank branch near you and head straight to their customers care services desk where you will request for a domiciliary account opening.
You will be given a form to fill and will be told what to do next. But have it in mind that they will require the following from you:
• Two recent photographs.
• A valid means of identification which can either be a National ID card, voter’s card or company’s card.
• Two referees who must be an account holder in the said bank. This will make the validation faster.
• A utility bill not older than 3 months.
• A minimum opening deposit of $100 to validate the account.
If you can provide all these, your domiciliary account should be opened and functioning within 48 hours after submission.