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How To Open Domiciliary Account With Any Bank In Nigeria

Domiciliary account in Nigeria

Modified On Sep 24, 2021 By Isaac

A Domiciliary (Dom) account is one that helps you hold foreign currency (Dollars, Pounds, Euro, etc). There are many reasons you should create a dom account. For me, I opened a domiciliary account to receive Google AdSense payment in Nigeria. You can receive AdSense payment even with your naira account but the bank exchange rate is lower than the black market rate.

If you often receive money from outside the country, you may want to open a Dom account. Withdraw your money in dollars and change it in black markets higher than the amount banks would change it for you.

PAGE CONTENTS

  • Steps To Open Dom Account With Any Bank In Nigeria
  • Zenith Bank Domiciliary Account Opening 
    • Requirements
    • How to Open Zenith Dom Account
  • GTBank Domiciliary Account Opening
    • Requirements
    • Steps to Open Dom Account With GTBank
  • First Bank Domiciliary Account Opening
    • Requirements
    • How to Create First Bank Domiciliary Account
  • Access Bank Domiciliary Account Opening
    • Requirements
    • How To Open A Dom Account with Access Bank
  • UBA Domiciliary Account Opening
    • Requirements
    • How to Open UBA Dom Account
  • Opening A Domiciliary Account With Other Nigerian Banks
  • Issues You May Encounter Opening A Domiciliary Account

Steps To Open Dom Account With Any Bank In Nigeria

I will explain how to open a domiciliary account with the following banks in Particular and Nigerian banks in general.

  • Guaranty Trust Bank (GTB)
  • Zenith Bank
  • Firstbank
  • Access Bank
  • United Bank For Africa (UBA).
  • And other banks

Recommended: How to apply for Visa in Nigeria

Zenith Bank Domiciliary Account Opening 

With Zenith dom account, you enjoy Internet banking, Mobile banking and dollar MasterCard. You don’t need an initial deposit to open a domiciliary account with Zenith Bank. The following are requirements to open a domiciliary account in Zenith.

Requirements

  • Obtain a Domiciliary account opening form at the bank
  • You need two persons with current account to sign a form for you
  • One passport photograph of authorized signatories (Those signing).
  • Driver’s License or International Passport or National Id Card or Voter’s Identity Card (One of them).
  • Electricity bill Utility Receipt dated within the last three months

Note that you don’t need Id card or utility bill to open Zenith bank dom account if you already used them to create account with them.

How to Open Zenith Dom Account

After meeting up with all the above requirements, and making a decision on what type of dom account you want with zenith bank, it is now time you proceed to the bank to carry out the necessary steps required for your domiciliary account opening.

  1. First, walk into any Zenith bank branch close to you and meet with their customer service reps.
  2. You can either r tell them you want to open a domiciliary account with them or simply request for the person in charge of dom account opening.
  3. Once given a name, proceed with the aforementioned documents to the person in charge.
  4. You will be given a Foreign Currency Account Opening Form, specimen signature card, two reference forms for you and your referee to fill.
  5. If you are with your referees at the bank, you can fill the form immediately and they too will fill theirs. But if otherwise, take all the forms home and fill them properly at your convenient time and give your referees each of the reference form to also fill.
  6. After proper filling of the form, go back to the bank and submit the forms.
  7. Just like a normal account opening, they will have to properly go through the form for errors and corrections and then ask you to and await a text message including your dom account number.
  8. Within 48-72 hours after verification, they will send you an SMS informing you of your new domiciliary account and the account number.

Zenith Bank Website: www.zenithbank.com

GTBank Domiciliary Account Opening

If you run a savings account with GTB, you are required to just fill a form and provide two references before your domiciliary account can be opened. You will also need a valid Id card if you were running a student account. However, if you do not have any existing account with them, the requirements are;

Requirements

  • One passport photograph
  • Valid ID card (International passport, Driver’s license or National ID card)
  • Copy of any utility bill issued within the last 3 months
  • 2 references from current account holders within GTBank or other banks
  • You don’t need $100 dollars to open Gtbank dom account

Steps to Open Dom Account With GTBank

If you do not have an existing account with them, you can create one by following the simple steps below:

1. Visit any GTbank branch close to you.

2. Ask for their customer service desk and request that you want to open a domiciliary account with them.

3. You will be asked if you already have any account with Gtbank. If you have one. That’s great! If you don’t, they will open one (current or saving) together with the domiciliary account. You can also choose to create many foreign currency accounts at once.

4. After that, you will be given a foreign currency account opening form, specimen signature card, two reference forms for you and your referee to fill.

5. If you have your two referees with you at the bank, they can fill their forms and you fill yours too and submit it. If your referees are not present with you at the moment, you can decide to take all the forms home, fill them properly and give your referees each of the reference form to also fill.

6. After proper filling of the forms, go back to GTbank and submit it.

7. They will go through it and make some necessary corrections then ask you to go home.

8. Within 48hours, you will receive an SMS from them informing you that your domiciliary account has been open with your account number.

Guaranty Trust Bank Webiste: www.gtbank.com

First Bank Domiciliary Account Opening

Requirements

  • Minimum of $500, €500 or £300 to open the account
  • Minimum of $100, €100, or £50 must be in the account
  • Cash withdrawal is at 0.5% flat per transaction
  • A recent utility bill and two recent passports
  • Valid ID card (International passport, Driver’s license or National ID card)

If you have all the above items in place then proceed to open the domiciliary account with Firstbank

How to Create First Bank Domiciliary Account

1. Visit any Firstbank of Nigeria branch close to you

2. Head straight to their customer service desk and request that you want to open a domiciliary account with them.

3. 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.

4. After that, you will be given a foreign currency account opening form, and specimen signature card to complete and sign.

5. You can decide to take all the forms home , fill them properly and return back with them to submit

6. Within 48-72hours, you will receive an SMS indicating that your domiciliary account has been open with your account.

7. Go back to the bank and pay in the minimum deposit to activate the account.

8. Done.

First Bank Nigeria Website: www.firstbanknigeria.com

Access Bank Domiciliary Account Opening

Access bank Domiciliary Account is designed to help you conveniently carry out foreign currency transactions from the comfort of your office or abroad. No minimum operating balance required but you need $100 to open the account. Internet, Mobile & Telephone Banking included.

Requirements

1. One of the following means of identification

  • International passport,
  • National ID card,
  • Driver’s License, or
  • Voter card.

2. Utility bill (e.g. PHCN bill).

3. Two references (People with Current account to sign for you).

4. Opening Balance of $100

How To Open A Dom Account with Access Bank

1. First, walk into any Access bank branch close to you and meet with their customer service reps.
2. You can either tell them you want to open a domiciliary account with them or simply request for the person in charge of dom account opening.

3. Once given a name, proceed with the aforementioned documents to the person in charge.

4. You will be given a Foreign Currency Account Opening Form, specimen signature card, two reference forms for you and your referee to fill.

5. If you are with your referees at the bank, you can fill the form immediately and they too will fill theirs. But if otherwise, take all the forms home and fill them properly at your convenient time and give your referees each of the reference form to also fill.

6. After proper filling of the form, go back to the bank and submit the forms.

7. Just like a normal account opening, they will have to properly go through the form for errors and corrections and then ask you to and await a text message including your dom account number.

8. Within 48-72 hours after verification, they will send you an SMS informing you of your new domiciliary account and the account number.

Access Bank Website: www.accessbankplc.com

UBA Domiciliary Account Opening

According to United Bank for Africa (UBA), Dom account is a current or savings domiciliary account denominated in foreign currency, e.g US Dollar, Pound Sterling, EURO etc, but operated by in Nigeria as Domiciliary Account. It is a necessary account for business when travelling or sending money to relatives abroad and also enables customers to be paid in any foreign currency.

Requirements

  • Minimum opening balance of $ 100, 80 or 70 or its equivalent in other currencies.
  • DOM account balances can be used as collateral for Naira loans
  • Interest Rates of 0.1% payable on account balance of 1000 USD or equivalents & above
  • Valid Identification (International Passport, Driver’s License, National ID card, Voter’s card)
  • Two Passport photographs
  • Any Utility bill within the last three consecutive months
  • Two satisfactory references from current account holders for Current Dom Advantage Acct.

How to Open UBA Dom Account

1. Visit any UBA branch close to you and meet with their customer service reps.
2. You can either tell them you want to open a domiciliary account with them or simply request for the person in charge of dom account opening.

3. Once given a name, proceed with the aforementioned documents to the person in charge.

4. You will be given a Foreign Currency Account Opening Form, specimen signature card, two reference forms for you and your referee to fill.

5. If you are with your referees at the bank, you can fill the form immediately and they too will fill theirs. But if otherwise, take all the forms home.

6. Within 48-72 hours after verification, they will send you an SMS informing you of your new domiciliary account and the account number.

7. Pay in the minimum opening balance.

UBA Website for Nigeria: www.ubagroup.com/nigeria/

Opening A Domiciliary Account With Other Nigerian Banks

Opening a dom account in other Nigerian banks (Diamond bank, fidelity bank, standard chartered bank and the rest) Require similar procedures. You need two references and they must be current account holders, National Id card or Driver’s License or International Passport, Recent electricity bill and existing account with them. Finally, you will be given forms to fill.

Issues You May Encounter Opening A Domiciliary Account

The following are situations that may disqualify you from opening a domiciliary account in Nigeria:

  • If you don’t have an official Id card.
  • No current account holders to stand for you.
  • Your date of birth in the existing account doesn’t match with the one in your Id card.
  • Your names are different.
  • The electricity bill wit you is more than three months.
  • Your address doesn’t match.

These Issues can be corrected anyway. But it will cause a delay. Make sure you have everything in place before going ahead.

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About FlashIsaac

FlashLearners CEO, Students Advocate, SEO Expert And YouTuber

32 Comments

  1. Olumide says

    Please I’d like to open a Uba Dom account but I have no referees, please can you help?

    Reply
  2. Shedrack says

    I need to know if I can withdraw all the money from my uba domiciliary account.

    Reply
    • Isaac Inegbenehi says

      Sure… Most Dom accounts allow you. My GTbank dom does too

      Reply
  3. Shedrack says

    I have $46 left on my uba domiciliary account can I withdraw $40 ??

    Reply
  4. fola says

    i was sent 105 dollar from usa into my naira savings gtb account and the bank open a dom account for me to receive the money .so how will i withdraw my money please

    Reply
  5. Osas says

    What’s the best way to fund my domicillary account in Nigeria

    Reply
  6. Anonymous says

    How much is minimum amount to open dom account with first bank Nigeria

    Reply
  7. Peaceful says

    I want to own a Dom account for the purpose of buying and selling currency,i dont have any body abroad that will send money to my account,is it going to be possible?

    Reply
    • Isaac Inegbenehi says

      You don’t need to have anybody sending you money abroad before you can create dom account

      Reply
  8. Vincent says

    How long does it take to open a Dom account and start operating it.

    Reply
  9. WOLE BECKLEY says

    1. CAN I OPEN A DOMICILLIARY DOLLAR ACCOUNT IN A US BANK THAT HAS A BRANCH IN NIGERIA?
    2. IF YES, CANIT BE DONE ONLINE AS WELL AS TRANSACTIONS DONE ON LINE?

    Reply
    • Isaac Inegbenehi says

      It can be done. But you need to visit the brach

      Reply
  10. martins says

    what will happen if someone already sent me dolla into my account and i havunt created the Dom account ,will my dollar still be in my account

    Reply
    • Isaac Inegbenehi says

      If it was sent successfully, then banks will convert it to naira before putting it in your account

      Reply
  11. Samson Samsirro says

    please Sir, can I fun my dom acct with bitcoin transaction?

    Reply
  12. felix says

    please can receive money from USA here in Nigeria in savings account?

    Reply
  13. David Chisomeje says

    Good Morning Isaac, Please i opened a Gtb Domiciliary account which i recieved all account opening information to my phone.But i did not pay in any $100 to activate it and by tomorrow i should be expecting $150 from Adsense, please i want to know if adsense pay the money whether i can be able to withdraw it or the bank will take it?

    Urgent!

    Reply
    • Isaac Inegbenehi says

      They won’t take it

      Reply
    • Isaac Inegbenehi says

      They won’t remove it. Gtbank doesn’t charge $100 opening balance.

      Reply
  14. Edem says

    Please can I trade on forex or binary option without domiciliary account??

    Reply
  15. Wallala says

    Hi i have the $100 opening balance in my uba dom account , can I withdraw $80?

    Reply
    • godwil says

      no

      Reply
  16. Tope says

    Is it true u need $1000 to open a domicillary account to receive a large funds

    Reply
    • Isaac Inegbenehi says

      It depends on the bank… I didn’t pay anything to open domiciliary account with GTBANK

      Reply
  17. Andrew says

    I use uba acount and want to open a dom account, but I friend told me I can open d account for free since I was once banking with dem dat I should go online and fill the form that was how he did his first bank own. My question is that is it also possible for UBA

    Reply
  18. Chy says

    Great!

    Reply
  19. OKPALA MARTIN CHIMEZIE says

    If I pay in dollars into my dollar account in Nigeria, and travel to Dubai, how can I withdraw it from Dubai.

    Reply
    • Isaac Inegbenehi says

      MasterCard

      Reply
  20. Ope says

    Thanks for the Info. what happens to the $100 i deposit can i withdraw it at a later date?

    Reply
    • Isaac Inegbenehi says

      Sure!

      Reply
  21. A. Jacob says

    Wondering..
    Can I convert a current Dom ACC to a savings one, (GTB)?
    And
    Can I transfer funds abroad with a savings Dom ACC?
    Thanks.

    Reply
    • Isaac Inegbenehi says

      Dom account is always Current Account. I have never heard of Savings dom account in GTB

      Reply

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