DOMICILIARY SAVINGS ACCOUNT
If you’re looking to start saving in foreign currency or receive your salary in pounds or dollars, this account is a simple way to begin.
Our Domiciliary Savings Account is built to help you save in pounds or dollars, especially if you often receive or make payments in these currencies.
Features and Benefits
Why choose the Domiciliary Savings Account
- You can open your account with as little as 10 pounds or 10 dollars.
- You’ll earn interest on your savings, as long as you make no more than three withdrawals each month.
- Withdrawals are made using a special booklet, just for you as the account holder.
- You can receive your salary or deposit cash directly in foreign currency.
- Open the account just for yourself or together with someone else.
- There’s no charge when you withdraw cash.
- You can also request drafts in foreign currency when you need them.
- Stay updated with free email alerts for every transaction.
- Get your monthly statements by email at no extra cost.
Requirements
To open your Domiciliary Savings Account, you’ll need:
- Completed account opening form
- A Valid BVN and NIN
- 1 passport photograph
- You’ll need to be at least 18 years old and have the following:
- International passport, driver’s license, national ID card, voters' card, or Resident Permit (for immigrants)
- Address verification, e.g., a utility bill, a recent bank statement, or a local authority tax bill.
FAQs
Our Domiciliary Savings account makes it easy to save and manage your money in
foreign currencies, such as US Dollars, British Pounds, or Euros. Whether you’re
getting paid from abroad or want to put something aside in another currency,
this account is a simple way to get started.
It is a tier 3 account.
- You can open your account with as little as 10 USD, 10 GBP or 10 Euros. Please note, we’re not able to accept cash deposits in Euros at the moment.
- Earn interest on your savings, as long as you make no more than three withdrawals each month.
- You can send and receive money from your account whenever you need to.
- If you need a telex copy, there’s a $25 charge (plus VAT).
- Open your account on your own or with someone else – the choice is yours.
- You can receive your salary or make cash deposits in foreign currency.
- Withdraw your cash or salary without any extra charges.
- Get free email alerts every time there’s activity on your account.
- We’ll send you a free electronic statement every month.
- Hard copy monthly statements printed at the customer’s request.
A domiciliary savings account doesn’t support cheque clearing, so you won’t be able to pay in or process cheques with this type of account.
- Get your debit card right away, so you can start banking as soon as you need to.
- Bank online whenever and wherever it suits you.
- Manage your money easily from your phone.
- USD Mastercard
- The card costs $13.98, and that covers your annual maintenance fee and VAT.
- You can use your card when you travel or shop online from anywhere in the world.
- People building their careers and planning for the future
- Professionals looking to make the most of their success
- Entrepreneurs growing their businesses
- Students taking their first steps towards independence
If you’re 18 or older, you can open a domiciliary savings account with us. Here’s what you’ll need to get started:
- A filled-out account opening form
- One passport photograph
- A valid form of ID, like your international passport, driver’s license, national ID card or voter’s card
- If you’re a foreign applicant, a copy of your residence or work permit
- Proof of address, like a recent utility bill, bank statement or local authority tax bill from the last three months
- Your money stays safe and steady with us.
- With more people banking with us, everyone benefits from stronger account balances.
- We make it easy to discover new products and services that could help you do more.
- Every time you use our mobile app or cards, you help us keep improving our services for you.