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
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