Business

How to open a domiciliary account from any Nigerian bank

Published

12 months ago

2023/05/06

Opening a Nigerian domiciliary account from any Nigerian account is a straightforward process. Here are the steps you can follow to open a Nigerian domiciliary account:

Choose a Nigerian bank: Research and select a Nigerian bank that offers domiciliary account opening services. Popular Nigerian banks that offer this service include Access Bank, Zenith Bank, Guaranty Trust Bank, First Bank, and United Bank for Africa (UBA).
Check eligibility requirements: Before you proceed to open an account, ensure you meet the eligibility requirements of the bank. These requirements may include minimum age, valid identification, and residential address.
Visit the bank’s website: Visit the bank’s website and navigate to the domiciliary account opening section. Some banks may require you to download their mobile app to open an account.
Fill out the application form: Fill out the domiciliary account opening form with your personal and contact details, employment details (if applicable), and identification details.
Upload your documents: Upload scanned copies of your identification documents, such as your passport, driver’s license, or national ID card, as well as any other required documents such as a utility bill or bank statement.
Provide a reference: You may be required to provide a reference who is an existing account holder of the bank. The reference must be a Nigerian citizen and may be contacted to verify your information.
Fund your account: Once your account has been approved, you can fund your account through wire transfer, online banking, or by depositing foreign currency cash into the account.
Activate your account: After funding your account, you may need to activate your account by visiting a bank branch or using the bank’s online activation service.

In conclusion, opening a Nigerian domiciliary account from any Nigerian account is a straightforward process.

However, ensure you choose a reputable Nigerian bank and follow the bank’s instructions carefully to avoid any issues.

A domiciliary account is an excellent option if you want to transact in foreign currency or receive payments from abroad.