A Domiciliary record is an unfamiliar cash account that permits you to do unfamiliar exchanges, for example, sending and getting of cash in various monetary forms like Pounds, Euro, Dollar, and so on. You can open a domiciliary record here in Nigeria, and advantageously work it from any nation of your decision and even inside Nigeria. The reason for opening a Domiciliary record isn’t to set aside cash however for executing business. It causes you to do your business exchanges utilizing unfamiliar monetary forms.

A domiciliary record is a kind of financial balance that permits you to subsidize it with unfamiliar monetary standards, for example, dollars, pounds or euros and empowers you to do unfamiliar exchanges on that account. You can utilize a domiciliary record to move cash to another nation or get unfamiliar money from another nation.
Opening a domiciliary record gives you access to charge cards, web banking, and versatile banking. So you can just do your exchanges, standing requests, installments, and so on without setting off to the bank corridors.

Top 5 Banks To Open A Domiciliary Account With In Nigeria
Each bank in Nigeria opens domiciliary records for their clients. In any case, there are top ones that make the activity of the record more advantageous for you. So in no specific request, here are the best 5 banks in Nigeria that you can open a domiciliary record with. Others are acceptable yet these are really besting the rundown.
1. Guaranty Trust Bank
Guaranty Trust Bank is also a top bank in Nigeria that will give you value for your money when it comes to domiciliary account opening. GTB domiciliary account is available only in US Dollars, British Pounds and Euros which can be funded through cash inflows and cash deposits.
Benefits of GTB domiciliary account
- You have 24/7 banking services via various e-channels.
- You can transfer funds in foreign currency to other bank’s domiciliary accounts in Nigeria and outside Nigeria
- Also, you can make cash withdrawals in foreign currency from any GTBank branch.
Requirements for GTB domiciliary account
- Filled account opening form.
- You need a copy of identification card (Driver’s License, International passport, National I.D Card, or any other acceptable by the bank).
- One passport photograph.
- Also, two completed reference forms.
- A utility bill issued within the last 3 months
2. Zenith bank
Zenith bank is one of the leading banks Nigeria with good customer service and products. Zenith bank operates two kinds of domiciliary account Ordinary domiciliary account and Cash domiciliary account. The difference between the two accounts is while you can make transfers with Ordinary domiciliary account, transfers are not allowed for Cash domiciliary account and again with Cash domiciliary account, you have access to EazyMoney as part of the available channels.
Features and Benefits
- It has zero opening balance
- Zenith bank offers internet banking
- It also issues debit card (USD)
- Your access to mobile banking
- You can receive email/SMS alerts
- Standing orders
- It only operates with these foreign currencies USD, GBP & EUR
Opening Requirements
- First, you need an account opening form
- One passport photograph of authorized signatories
- Valid ID (Driver’s License, International Passport, National Identity Card or Voter’s Identity Card)
- Public Utility Receipt dated within the last three months
(PHCNbill, water rate bill, tenement rate, rent receipt, telephone bill, etc.) - Visitation Report (Residence)
3. Fidelity Bank
Fidelity bank provides you a foreign currency account to do international transactions. It operates in US Dollars, British Pounds and Euro. It enables inflows to hit designated account without being subjected to variation in the local exchange rate, depending on the currency you are operating.
Features and Benefits of Fidelity Diaspora domiciliary account
- A minimum account opening balance of $50, €50, £50
- A minimum account operating balance of $30, €30, £20
- An interest rates on call/demand and fixed deposits
- You have access to Internet banking, email transaction alerts and statements
- Also, you have the option of a Nominee Resident Joint Signatory in Nigeria (e.g. spouse, parent, etc)
- Standing orders
- There are investment facilitation services for shares traded on NSE
- A draft issuance in foreign currency
- You have the privilege to open a Domiciliary and a Naira current account
Requirements for Fidelity Diaspora domiciliary account
- A Diaspora Account Opening Form
- You need one Passport Photograph (digital passports allowed)
- A valid identification card; Valid Nigerian passport, valid driver’s license, valid national ID card or voters cardValid foreign passport/driver’s license supported by proof of Nigerian Nationality(either birth certificate, expired/valid Nig. Passport, drivers license or Voters card)
- Proof of address. A notarized/certified copy of any of the following: Stamped Bankers confirmation utility bill issued within last 3 months, bank or credit card statement issued within the last three months and tenancy agreements/rent receipts.
- Also, you need 2 Nigerian Bank references from active current, domiciliary or corporate account holders ( for current and domiciliary accounts only). Where certification of Documents is carried out by any of the following: Notary Public/court/ lawyer/Solicitor, Nigerian Embassy/High Commission/Consulate in customer’s country of residence, your Foreign bankers, government Security Agencies, commissioner for Oath
4. First Bank
First bank domiciliary accounts enable you to facilitate your international transactions and can be accessed via cash deposits, foreign currency cheque deposits or traveler’s cheque. First bank has two kinds of domiciliary account; FirstDom Plus and Domiciliary account. FirstDom Plus is a foreign currency deposit account that is solely targeted at the existing and potential domiciliary customers with balances of $5,000 and above. Its interest rate is quite attractive and there is reduced bank charges. Only Individuals and corporates can apply for this account while Domiciliary account is an account that allows you to keep money in US Dollars, Pounds Sterling or Euro; with your money valued at the prevailing exchange rate. This account helps to facilitate your international business transactions. Only SMEs and Corporate organizations can operate this account.
Benefits of Domiciliary Account
- A minimum opening balance of $500, €500 or £300
- A minimum operating balance of $100, €100, or £50
- There is no limit to the number of withdrawals in a month
- Your cash withdrawal is at 0.5% flat per transaction
- An Inter sol transactions (account owner only) are allowed.
- A Guaranteed FCY deposit
- A pool for interest on bank fund
- There are no restrictions on the number of withdrawals
- Inter sol withdrawal (account holders only) allowed
Requirements of Domiciliary account
- A completed account Opening Form
- A completed specimen signature card
- You two (2) recent passport photographs
- An address verification document: Utility Bill
- A valid means of identification e.g. International passport, Driver’s license or National ID card.
5. UBA
Another bank that in Nigeria that you can open a domiciliary account with United Bank For Africa. This bank gives you a wide range of options to choose from when opening a domiciliary account with them. It also operates in major foreign currencies such as US Dollar, Pound Sterling, Euro, etc. UBA has the following domiciliary accounts; Dom Advantage Account, Dom Advantage Plus Account, Freedom Dom account and U-Care Plus Domiciliary Account.
Requirements of Dom Advantage Plus Account
- A minimum Opening and Operating Balance: $1,000, or €700 or ₤600
- For withdrawal Charge: there are zero charges once your account balance is up to minimum operating balance
- Also for transfer charge: there are zero charges once the account balance is up to minimum operating balance
- There is a compulsory swift communication charge of $25, €20 or ₤15 on all foreign transfers
Benefits of Dom Advantage Plus Account
- It has an Interest rate that is payable on the account balance
- It has a zero transfer charge
- It has zero withdrawal charge
- Also has an unlimited number of withdrawals
Conclusion
It is imperative to look at these tips before considering to open a domiciliary record with any bank in Nigeria particularly the 5 top banks referenced over; 1. Month to month/Daily charges, exchange limits, least necessities, portable and Internet banking, ATM charges and security.