A domiciliary account is a foreign currency account that requires minimal documentation to open. The account is set up to accept and receive deposits in the following currencis: British Pounds, US Dollars, and Euros. Account users who receive overseas remittances and make payments in US Dollars, Pounds, and Euros can also get a foreign currency debit card for online payments and fund it with foreign currencies.
Unity bank domiciliary account has a bonus interest rate, internet banking access, card access, and other value-added features that we will go over in depth later in this article.
As we proceed, let’s look at some of the features and benefits of Unity bank domiciliary account.
- Featured and Benefits of Unity bank domiciliary account
- Opening balance $100 (€, £) or its equivalent in € & £
- Direct remittances
- Interest payment on deposit
- Foreign and home remittances
- Commission per transfer of 1% of transaction amount.
- Telex charge flat fee of $38
- Withdrawals in foreign denominated currencies
- Documents required to open a Unity bank domiciliary account
These are some of the necessary documents which must be available when opening a domiciliary account with unity bank
- A completed account opening form
- Recently taken Passport photographs
- BVN
- International passport, driver’s license, national identification card, voter registration card, or resident permit (for immigrants)
- Address verification, such as a utility bill, a recent bank statement, or a tax bill from the local government, etc.
- How to open a Unity bank domiciliary account
Opening a domiciliary account with u city bank is quite easy, and with the following steps you would be able to accomplish this task in no time.
- Complete the account registration form
- Obtain three current account references from friends or family members. (If you have a current account with Unity Bank, you can skip this step).
- Submit any additional documents requested by the bank, such as identification cards, utility bills, and BVN numbers, among others.
- As part of the requirements, you must deposit $100 or its equivalent in pounds and Euros
- Once you’ve completed the registration process, you’ll receive your account number via email or phone, which was attached to your application during the registration process.
- How to receive foreign transfers into your unity bank domiciliary account
Before customers can receive funds into their domiciliary account, they must make sure the following requirements are met;
- Customer must have a domiciliary account that is functioning.
- The account must be sufficiently filled to cover both the principal and the charges.
- Customers must submit a formal request for a domiciliary transfer that includes the beneficiary’s information.
- A properly completed Indemnity form (Download Form)
Once you have all these requirements, then you can provide the sender with the following information to receive foreign transfers.
- FOR U.S DOLLARS (USD) ONLY
BANK NAME: ODDO BHF BANK
SWIFT CODE : BHFBDEFF
ACCOUNT NAME : UNITY BANK PLC
SWIFT CODE : ICITNGLA
ACCOUNT NUMBER : 0100715433
INTERMEDIARY BANK: THE BANK OF NEW YORK MELLON
SWIFT CODE: IRVTUS3PLC
- FOR POUNDS STERLING(GBP) ONLY
BANK NAME: ODDO BANK BHF
SWIFT CODE: BHFBDEFF500
ACCOUNT NAME: UNITY BANK PLC
SWIFT CODE: ICITNGLA
ACCOUNT NUMBER: DE88 5002 0200 0200 7154 33
INTERMEDIARY BANK: HSBC PLC LONDON
SWIFT CODE: MIDLGB22
- FOR EUROS ONLY
BANK NAME: ODDO BANK BHF
SWIFT CODE: BHFBDEFF
ACCOUNT NAME: UNITY BANK PLC
SWIFT CODE: ICITNGLA
ACCOUNT NUMBER: 0000715433
Note: To enable us to apply funds, the beneficiary’s Unity Bank Plc account number must be supplied with these details.