How To Open A Domiciliary Account with Your Bank

How to open domiciliary account varies via different banks, countries and the kind of laws that are operational in your region (country). So this post is a mere example of how someone (in Nigeria) opened his own domiciliary account in Nigeria.

 

Due to the recent ban of our dear Naira cards, internet based hustlers and other businesses that require transaction in foreign currencies, now face general difficulties in either purchasing of product or paying of bills.

A good answer to this question is the creation of domiciliary accounts, which varies in types and opening routines across many banks in Nigeria. I have a domiciliary account here in Nigeria, and it has been my aid in promoting my work here on the internet. Here, you are going to know that basic things you need to have in order to create one.

Please note: These features and processes may differ, as it depends on the bank and the type of Domiciliary accounts you intend to open

 

Here are the features if the domiciliary account

No limit to number of withdrawals in a month

Cash withdrawals from an initially deposited cash will attract a 0.5% commission

Cash withdrawals from a cash inflow or funds transfers (credits) attracts a 1% commission

Inter sol transactions (account owner only) are allowed.

Benefits Of Domiciliary Accounts

Guaranteed FCY deposit

Attractive pool for interest on bank fund

No restrictions on number of withdrawals

Inter sol withdrawal (account holder only) allowed

 

Documents Needed To Create A Domiciliary Account

Duly completed Account Opening Form

Duly completed specimen signature card

Two (2) recent passport photographs

Address verification document: Utility Bill

Valid means of identification e.g. International passport, Driver’s license or National ID card

Resident permit

 

Thinks You May Do Now:



To open an Individual Domiciliary account,

Download the Individual Account Opening Form

For joint account holders, download the Joint Account Holder Form

Complete the form and submit at the nearest FirstBank branch

I hope this served. If you are still finding this topic hard to understand, maybe you need to visit your bank for more. But for the interest of all, share your experience or need on the comment section. You will surely see help here

About the author

Valentine

Valentine Nnanyere has strong passion for blogging. He's an internet marketer and a pro web developer.

He's the founder at Jobreaders Nigeria and the lead coach at the #WebFactory

As a a tech enthusiast and social media ,he will help your business, ideologies and self, get more visible on the internet.

Feel free to connect with him on Twitter @ValentineNaira Facebook @ValentineNaira

Phone: +2348066538123

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