How to Open a Domiciliary Account in Nigeria

Beforee you the guidelines on the requirements for opening a domiciliary account in Nigeria, I want to first of all tell you what a domiciliary account is and what it is used for.
A domiciliary account is the type of bank account which is used for international or foreign transactions. You can use a domiciliary account to receive foreign currencies such as dollars, pounds or euros in Nigeria.
Maybe you own an online business which requires you to receive your payment in foreign currencies such as blogging or affiliate marketing or you have a friend or relative abroad who wishes to send you money in foreign currencies, owning a domiciliary account will enable them to wire the money into your domiciliary account directly and then you can go to any of the branches of  the bank which you opened the domiciliary account such as UBA, First Bank, Access Bank etc to withdraw your hard currency and then go anywhere you like to change it into Naira. You can also ask the bank to change it for you at their own rate but some people don't like making the exchange in bank coz of the bank rate, rather they prefer to go to mallams at any ama awusa to exchange their foreign currencies for naira. 

Benefits of Owning a Domiciliary Account

Now that you are now familiar with what a Domiciliary Account is, I want to give you the benefits of owning and operating a domiciliary account in Nigeria or any other part of the world.

1. 24/7 banking services via various e-channels

2. Cash withdrawals in foreign currencies.

3. You can transfer funds in foreign currencies to other bank's domiciliary accounts in Nigeria and abroad.

Requirements for Opening a Domiciliary Account in Nigeria

What are the requirements for opening a domiciliary account in Nigeria. 

1. A filled and signed Domiciliary Account Opening Form

2. A valid means of Identification such as National I.D card, Driver's License, International Passport, Permanent Voter's Card ( P.V.C) or any other means of Identification acceptable by the bank.
N/B You can also use the temporary National I.D card ie the NIN Slip as a means of Identification.

3. One passport photograph

4. Two completed reference form. The bank will give you two reference forms of which you will take to your referees to fill and sign. Remember that the referees must be Domiciliary Account holders of the same bank

5. Utility Bills ( such as PHCN bills or National Water Cooperation Bills) issued within the last 3 months. This is to accertain you current and true address. 

Once you have all this requirements, then visit any branch of the bank which you desire to open your domiciliary account with and commence the account opening process. Don't forget that the Domiciliary Account Opening Form and the Reference Form will be give to you by the bank. 
Goodluck as you commence your account opening process. 

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Have a lovely day cutie

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