Sterling Bank Domiciliary Account (Requirements, How To Open sterling bank domiciliary account)

Sterling Bank Domiciliary Account (Requirements, How To Open)

Opening a Domiciliary account these days has been made easy by different commercial banking including Sterling Bank. This is done to improve the customer banking experience unlike before it was quite difficult to open a Dom account. 

Sterling Bank is a national commercial bank licensed by the CBN to provide financial services to individuals, small businesses, and large corporations. The bank is always known for making its customers their number one priority by providing excellent performance.

Sterling Bank’s domiciliary account is designed to allow customers to perform international or local transactions, such as sending, saving, or receiving funds in foreign currency from the comfort of their home or office. However, United States dollars, British pounds, and Euros are the major currency that customers can use in the Dom Account. 

Do you want to know how to open a Domiciliary Account with Sterling Bank and its requirement, then you are in the right post. Let’s dive in…

Read my post on the best banks to open domiciliary account in Nigeria

The Requirement to Open A Sterling Bank Domiciliary Account

Below are the requirements that one has to meet to be eligible to open a Dom account with Sterling Bank.

· A duly filled Account Opening Form

· One recent Passport photograph

· Proof of address such as BEDC bills 

· Two signatories

· A valid means of identification such as an International Passport, NIN, Voter’s card, and Drivers license.

· BVN

· Combined Expatriate Residence Permit and Alien Card (for Foreigners)

How To Open A Domiciliary Account with Sterling Bank

Firstly, before opening a Dom Account with Sterling Bank, you must understand that the bank offers different types of Dom accounts namely Domiciliary Saving account and Domiciliary Current account.

Domiciliary Saving Account

Sterling Bank Domiciliary saving account allows you to make withdrawals and receive deposits via transfers or cash deposits in foreign currency whether at home or abroad. 

Features of Domiciliary Savings Account

· The minimum account opening balance is USD 100, GBP 100, or Euro 100 depending on which the account is denominated.

· Allow foreign cheque lodgment

· Offshore remittances

· Availability of Internet banking facility and SMS alert

Steps on how to open Sterling Bank Domiciliary Saving Account

· Visit any Sterling Bank branch

· Request and fill out the opening account form

· Submit the duly filled form and other required documents to the customer agent.

· When your details are verified, your account details would be sent to your phone number.

·      

Domiciliary Current Account

Sterling Bank Domiciliary Current account is designed to allow its customers to maintain current accounts in foreign currencies. You can perform transactions such as deposits and withdrawals in the same currency in which the account is denominated.

Features of Domiciliary Current Account

· The minimum account opening balance is USD 100, GBP 100, or Euro 100 depending on which the account is denominated.

· Allow foreign cheque lodgment

· Offshore remittances

· Availability of Internet banking facility and SMS alert

Steps on How to Open Sterling Bank Domiciliary Current Account

· Visit any Sterling Bank branch

· Request and fill out the opening account form

· Submit the duly filled form and other required documents to the customer agent.

· When your details are verified, your account details would be sent to your phone number.

FAQs

Read all about how to fund domiciliary account in Nigeria

Can I open a dollar account in Sterling Bank?

Yes, Sterling Bank has made it easy to open a domiciliary account with them.

How much dollars do I need to open a domiciliary account?

The minimum account opening balance for each bank differs, so you have to check the bank requirement. However, most banks’ minimum account opening balance ranges from 0 -$100.

What bank is best to open a domiciliary account?

The best bank to open a domiciliary account

· GTBank

· Zenith Bank

· First Bank

· Sterling Bank

· UBA

· Access Bank

Conclusion: Sterling Bank Domiciliary Account (Requirements, How To Open)

Opening a Domiciliary account is important, especially for individuals or companies who carry out transactions in foreign currency. Nevertheless, you can open a Dom account to save your money in Dollars, Pounds, or euros.

Thank you for reading this article and I hope you got a lot of useful information from my post. Please drop your comment and share the post with your loved ones and friends