May 17, 2022

Stanbic IBTC bank domiciliary account: How to open account and receive/transfer money to your account

Most banks in Nigeria have what we call a Domiciliary Account. This is a foreign currency account which can be funded with cash inflows and deposits in US Dollars, Pounds, or Euros. It also allows withdrawals

The Stanbic Ibtc domiciliary accounts allow you to conduct overseas transactions in a convenient manner no matter where you are. Debit cards, internet banking, and mobile banking are all available It facilitates international commercial transactions from Nigeria and also makes it simple to transfer money and make international payments in foreign currencies.

In this article, we would be looking at how to open a domiciliary account with stanbic ibtc, some of the account features and benefits, and also the documents required to open this account.

  • Features and benefits of Stanbic ibtc domiciliary account

The stanbic ibtc domiciliary account is accessible in three (3) distinct currencies, allowing users to open an account in any of these three currencies: US dollars (USD), British pounds (GBP), and Euros (EUR).

Customers must have at least $100, or the equivalent in pounds and euros for personal accounts and at least $500 or the equivalent amount in pounds and euros for business accounts (this is the opening deposit). In addition, a Cash withdrawal fee of 0.05% of transaction value or $10 (whichever is lower) is charged on every transaction you make.

Some of the benefits of this account are as follows:

  1. You can Withdraw money from your account from any location in the world.
  2. You can also send money to your friends and loved ones all around the world
  3. It helps facilitate international business interactions.
  4. Account access is made simple easy with e-channel products.
  • Documents required to open a Domiciliary Account with Stanbic ibtc

To open a Stanbic ibtc domiciliary account, every customer must have meet the following prerequisites. Existing account holders, on the other hand, can give the bank a directive. But individuals who don’t have a current account or are new customers, should follow this approach.

  1. Two reference forms.
  2. A valid copy of form of ID (original must be shown to your account manager).
  3. Two passport photographs.
  4. A “Know Your Customer” (KYC) form.
  5. Certification of registration (for business owners).
  6. Search report and partnership deed agreement (if any).
  7. Valid residence permit for non-Nigerians.
  • How to open a Domiciliary Account with Stanbic ibtc

It’s simple to open a domiciliary account with stanbic ibtc. All you have to do now is follow the procedures outlined below.

  1. To get started, go to any Stanbic ibtc branch near you or go to the official Stanbic ibtc website “”
  2. Before registering, double-check that all of the above-mentioned documents are in your possession.
  3. Complete the account opening form provided by the bank agent or downloaded from the bank’s website.
  4. Get your documents certified and return them to the bank agent once you’re finished.

5. Make any other arrangements necessary with the bank agent to activate your account and begin making transactions with your domiciliary account.

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