A domiciliary account is a type of financial account that allows individuals receive and make transactions in foreign currencies such as pounds sterling, Euros, US dollars etc. This account is opened by non-residents in Nigeria I.e someone who has not resided in the country for 3 years preceding the date of deposit/transfer – for the purpose of accessing their money in Nigeria.
Zenith bank has made this type of account available to her customers and by the end of this article, you would have known how to open a domiciliary account, the basic documents required for opening this account and also how to receive foreign transfers into your account.
- Types of Zenith Bank Domiciliary account
Zenith bank provides her customers with two types of domiciliary accounts which are the ordinary domiciliary account and the cash domiciliary account
- Ordinary domiciliary account: This account allows customers to conveniently make foreign transfers anywhere in the world with access to debit cards, mobile banking apps and internet banking. It mostly operates in three currencies which are the US dollar (USD), pounds sterling (GBP) and Euros (EUR).
- Cash domiciliary account: This account is similar to the ordinary domiciliary account as it allows customers to conveniently make foreign transfers anywhere in the world with access to debit cards, mobile banking apps and internet banking. Although, it requires zero balance before opening — which means that you don’t have to deposit any money before your account can be activated.
- Documents required to open a Zenith bank domiciliary account
- Account opening form (existing account holders with full documentation only require a written letter or completion of account opening form without the provision of any other documentation).
- 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).
- How to open a Zenith bank domiciliary account
- Visit any zenith bank branch near you or go to the zenith bank official website “www.zenithbank.com” to get started.
- Make sure all the documents stated above are available before registration.
- Fill the domiciliary account opening form given to you by the bank agent or download the PDF version from the zenith bank website
- You would be asked to present 2 references who have used a current account with zenith bank or any other bank within the last 6 months.
- Submit all necessary documents and pay every necessary fees depending on the type of account you wish to open
- Once all your information and documents have been verified, your account would be activated within 24 hours.