How to Open Domiciliary Account with Access Bank
The domiciliary account enables you to carry out international or local transactions, such as sending or receiving funds in foreign currency from the comfort of your home or office.
Access bank has made it easy for its customers to send and receive money from different countries through a domiciliary account. However, this account allows the customer to operate the three major currencies: United States dollars, British pounds, and Euros.
In this article, I will discuss how to open a domiciliary account with an access bank and its benefit.
Read my post on how to fund access bank domiciliary account
Requirements to Open an Access Bank Domiciliary Account
Access bank has made it easy for customers to create a domiciliary account through the bank or via internet banking. However, the requirement is still the same for both methods. They include;
- A valid ID Card: voters card, driver’s license, national identification card, or international passport is required.
- 2- 4 recent passport photograph is required.
- A recent copy of the utility bill, i.e., Nepa bills not less than 3 months, is required.
- BVN is required
- Two references’ signature with a current account is required.
- The minimum required amount to open this is $100.
- Forms CO2 and CO7 are relevant for companies.
- A Memorandum and Article of Association are required for companies.
Via internet banking
- Visit www.accessbankplc.comand click on ‘Account Opening Form.
- Download the forms that will be displayed on the site.
- Ensure to fill out all the forms you have printed.
- Once you have filled them out and attached other relevant documents, please email them to email@example.com.
Types of domiciliary account
There are two types of domiciliary accounts, namely;
Domiciliary Savings account
The domiciliary saving account is designed to give the customer the option to save in any of the three currencies while earning interest.
Features of Domiciliary Saving account
- The minimum amount to open this account is 500 USD, GBP, and Euro.
- There is a charge of $10 for the issuance of a debit card.
- The interest rate of 0.1 % and 0.2% per month
- A non-chequing account.
- There is a charge for all other transactions.
- Customize debit card.
- The maximum daily cash deposit is $10,000.
- The maximum transfer limit is $50,000.
- Customers can pay charges in naira at the interbank rate.
- The transfer charge is 0.5%.
Domiciliary Current account
Domiciliary’s current account enables you to carry out transactions from the comfort of your home. The account is funded in Dollars, Pounds, and Euros.
Features of Domiciliary Current account
- The minimum amount to open the account is 100 USD, GBP, and Euro.
- There is no monthly maintenance fee.
- An unlimited number of withdrawals.
- Cheque books are Customized.
- The interest rate for the minimum of 100,000 USD is 0.001%.
- There are charges of 0.5% on withdrawals.
- There are free financial advisory services for you.
- It allows third-party withdrawals.
- You can monitor your account activities from the comfort of your home through the internet.
About Access Bank
Read my post on Access bank international spending limit
Access Bank is a commercial bank licensed by the Central Bank of Nigeria to carry out financial or banking business in Nigeria.
Access Bank was established in 1989. Its headquarters is located in Lagos state but has several branches around the cities of Nigeria and other countries.
Does access bank give a dollar card?
Yes, access Bank gives customized debit cards to its customer if requested.
Can I deposit naira to my domiciliary account?
No, you can’t deposit naira; only foreign currency can be funded into your domiciliary account. However, you exchange your naira for any foreign currencies at the bank.
Can I receive dollars in my access bank account?
Access Bank’s domiciliary account allows its customers to receive a dollar from family or friends aboard. Also, you can withdraw your funds in dollar notes.
How much is $100 in the black market today?
Currently, $100 is 73200 naira in the black market.
Access Bank’s domiciliary account has made it easy for individuals and companies to save and make international transactions from the comfort of their homes or office.
I hope you got a lot of useful information from this article on how to open access bank domiciliary accounts.
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