Domiciliary Account. This
is an account that allows you save in US Dollars, Pounds Sterling or Euro; with
your money valued at the prevailing exchange rate. It facilitates your
international and online business transactions.
Features- No limit to number of
withdrawals in a month
- Cash withdrawals from an
initially deposited cash will attract a 0.5% commission
- Cash withdrawals from a
cash inflow or funds transfers (credits) attracts a 1% commission
- Inter sol transactions
(account owner only) are allowed.
Benefits
- It provides the services
of an offshore account and still gives you access to your money anytime and
anywhere
- You can withdraw cash
from your account anywhere in the world.
- You can also transfer
money overseas, subject to current CBN rules and regulations on such
transactions.
- It enables you to do
business transactions internationally.
- Banks pay interest rate
on deposits of $10 000 and above (equivalent in other currencies).
There
are times when as an individual or business, you need to make and receive
payments in a foreign currency. A Domiciliary Account lets you have accounts in
currencies other than the Naira. You can pay into these accounts through cash
deposits, traveler's cheques or foreign currency cheque deposits.
And
there is one thing you need to know, it’s the fact that you need a medium to
receive these dollars in Nigeria which is in no other way but by banks. And as
long as the banks are concerned, there are 2 methods involved, which is either
by direct bank wire into your Nigerian bank savings account or through the use
of domiciliary accounts.
Before
the dollar rise, and fall of the Naira, the savings account option was
considered the easiest and fastest means and most people often recommend it due
to the rigor process involved in opening a domiciliary account. However, after
the rise, when Naira became N365 against the dollar, the Banks kept to CBN
fixed conversion rate of N199 to a dollar, making those who adopted the savings
option to lose out massively and thereby making the Domicillary account a
necessity for foreign transactions so that you can easily receive your earnings
in raw cash (dollars) and exchange at a higher rate from the aboki’s.
Guys this is the easy way
on how to easily open Zenith Bank domiciliary account without passing through
the rigor of providing 2 references and the initial $100 deposit.
Zenith Bank Full
Requirements For Dom Account Opening Include;
- Account Opening form duly
completed & signed.
- Two (2) specimen signature
cards duly completed.
- Two (2) recent clear
passport size photographs with your name and signature written on the reverse
side.
- Residence permit (where
applicable).
- A valid form of I.D.
(International Passport, Driver’s License or National I.D.)
- A copy of a Public
Utility Receipt (not older than 3 months)
- Initial Deposit.
- Two (02) References.
With
all of the above, you will agree with me that it might take weeks if not months
to put all of the documents and persons together for your dom account opening.
However, to make it a lot easier, make sure you have a savings or current
account that has been active for at least 6 months and that you have a
considerable amount in the account.
Once
you have that, they will ask you to write a formal letter (don’t worry, they
will give you hints on that) stating the purpose of the account (That is what
you want to do with it.). If for Google Adsesne, use “to receive google Adsense
payments” and then give them a print of your payment recipe for the previous
month. This will serve as proof (you can find it in your Adsense payment
section). But if otherwise, state the reason for it.
However,
if you don’t have an account, go to any zenith bank branch, and open one. Then
go home and return in about a month or 2 for the dom account.
To
wrap up things, this is not only applicable to Zenith bank alone. If you own an
account (preferably current account, although savings account works too) with
any of the Top Nigerian banks, you can easily walk into any of their branch
close to you and apply for a dom account. Insist you already have an account
and wouldn’t be needing any reference.
Knowledge is Power and we
give you up to the minute’s information.
SOURCE: shelaf news
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