Easy Steps to Open a Domiciliary Account with Access Bank

A domiciliary account at Access Bank is used to receive and transfer foreign currency. A domiciliary account allows you to conduct local and international transactions in real-time, regardless of your location, 24 hours a day, seven days a week.

The Access bank domiciliary account is funded in Euros, British pounds, US dollars, and Japanese yen. Individuals and business owners can open a domiciliary account. Small and medium-sized businesses, as well as corporate organizations.

The savings and current account categories are available with the Access bank domiciliary account. They both have dynamic features with similar requirements, but they are both designed to provide customers with a consistent service experience.

Advantages of having an Access bank domiciliary account.

• Free financial advice is now available.
• Interest is paid on account balances.
• You can monitor account activity from the comfort of your own home or office.
• A current account with a cheque allows for third-party withdrawal.
• Account information is updated via SMS/email alerts.

Features.

• It has an initial balance of $100, Pounds, and Euros.
• Annual interest rate of 0.01% (above 100,000 GBP, USD, Euro).
• Withdrawals are subject to a 0.5% cash handling fee.
• There is no daily minimum balance.
• On request, a customized checkbook.
• There is no monthly fee for maintenance.
• There is no limit to the number of withdrawals.

Requirements

• Account opening form duly completed.
• 1 passport picture.
• Proof of identity in any of the categories listed below, authorized and sighted (Download SVGPerfect if you only want to use one icon as a vector on the desktop or in your own icon workflow, a valid Nigerian passport, valid international/foreign passport supported by proof of Nigerian origin, a valid Nigerian driver’s license, etc.).
• Proof of residence address includes a notarized or sighted copy of any of the following: a duly completed banker’s confirmation, a copy of a utility bill issued within the last 90 days that shows the same address as supplied, and a bank/credit statement issued within the last three months that shows the customer’s address.
• References for current diaspora naira domiciliary account.

Option one:

An independent reference letter was obtained from current bankers and a signed referenced form by a Nigerian Attestor who has a current account with a Nigerian bank.

Option two:

Two reference forms were signed by the attestation of Nigerian origin who have a current account with a Nigerian bank.

• Indemnity, an indemnity form should be duly executed for email, fax, and scanned documents. For a joint account.
• A notarized copy of the marriage certificate is required.
• Signatory to the BVN.
• Risk assessment for AML.
• FATCA form for customers residing in the United States.
• CO7 and CO2 forms for businesses.
• Companies must obtain a certificate of incorporation.

How to open a domiciliary account with Access Bank.

• Walk into any Access bank branch in your area with the above-mentioned account opening documentation in order to open a savings or current domiciliary account.
• You must fill out an account opening form and your account should be ready within 24 hours if all requirements are met.
• Charges for accessing a bank’s domiciliary account Withdrawal are charged 0.5%.
• Account closure is free.
• Chequebooks, ATM cards, and all other transactions are charged in accordance with the banker’s tariff.

What is the domiciliary account’s maximum opening balance?

The account’s maximum opening balance is $100, Pounds, or Euros.

Is there a daily minimum balance for domiciliary banking?

The daily minimum balance is zero.

How does a prospective domiciliary account customer submit documents to Access Bank in order to open an account?

Documentation for establishing a domiciliary account should be submitted using the methods listed below.

To submit the account opening packages, go to any Access bank branch.
Scanned copies should be emailed to [email protected].

Can domiciliary customers transfer funds from their accounts to Nigerian beneficiaries?

Yes, with the help of the secure token device, using the electronic banking platform, internet banking. Customers with a domiciliary account can transfer funds to Beneficiaries who have an Access bank account. Beneficiaries with accounts at other banks.

Do domiciliary customers have the ability to deposit cheques and dividend warrants into their accounts?

Yes, local cheques and dividend warrants can be deposited into the customer’s domiciliary account at any of Nigeria’s bank branches.

What is a domiciliary account?

This is a foreign currency account in Pounds, US Dollars, or Euros.

Conclusion.

The Access bank domiciliary account can be either a savings or a current account. Please keep in mind that the opening documentation may vary slightly at times.