What is a domiciliary account?
What is a Debit MasterCard and Why Do You Need it For Your Domiciliary Account?
Benefits of Having a Debit MasterCard for your Domiciliary Account
Features of a Debit MasterCard for a Domiciliary Account
- Available only for specified currencies. For example, the UBA Gold MasterCard is only available for Dollar, Pounds or Euro domiciliary accounts.
- It has a validity period of 4 to 5 years from the month of issue. The UBA Gold MasterCard is valid for 5 years.
- It requires a Personal Identification Number (PIN) for all ATM and POS transactions
- Access to MasterCard Global Services (emergency card replacement, etc.)
- Transfer money instantly from your account to other accounts in your bank or other banks in Nigeria.
What do You Need to Get this Debit MasterCard?
- You need to have an active Dollar, Pounds or Euro domiciliary account
- Completed and signed Debit Card Application Form.
Requirements and Procedures for Opening a Domiciliary Account in the Different Banks in Nigeria
The requirement and procedures for creating a domiciliary account in the various Nigerian banks are almost the same. The major difference is that different banks charge different amount and require that you have a specified minimum amount. For example, First bank requires that you have a minimum of $500 before you can open a domiciliary account with them, whereas GT Bank will zero naira and it very easy to open a domiciliary account with GT Bank.Requirements for Creating a Dollar Account with UBA, GT Bank, First Bank, Zenith Bank, FCMB, Diamond Bank, etc.
For a personal or cooperate domiciliary account, you will need the following:Proof of identity:
- International ID Card
- Driver’s license
- National identity card
2 Passport Photographs
Proof of Address
Use any of these Utility bills below and the bill must not be older than 3 months.- electricity
- phone bill
- waste bill
- water bill
Personal account details of 2 current account holders
This is the most stressful part. You need the details of two Referees that have current accounts either in the same bank or in any other bank. The following details about these referees are needed:- Name and Home address
- Account number
- Bank
- Contact Address
General Business Details
- Business name
- Address and contact numbers
- Principal trading activity
- Date of commencement of the business
Requirements for Opening Domiciliary Account for Limited Liability Companies
- Copy of Certification of Incorporation
- Copy of form C07
- Printed copy of Tax Identification Number (TIN)
- Company seal
- Memo and Article of Association
- 1 passport photo of each signatory to the account
- Board resolution (signed by 2 directors/1 directors and Company Secretary)
Conclusion
Once you have all those details, simply take them to the branch nearest to you and you will be assigned an account officer who will collect the details and process them. The two referees will be verified to make sure they are real people and within a week, you will be contacted and your account details will be forwarded to you.See Also: HOW TO SOP WTH YOUR CREDIT CARDS SAFELY ONLINE
For full details on opening a domiciliary account with UBA visit: https://www.ubagroup.com/countries/ng/personalbanking/domaccounts/fsd
For full details on opening a domiciliary account with First Bank visit:
https://www.firstbanknigeria.com/products/personal-banking/domiciliary-accounts/domiciliary-account
For full details on opening a domiciliary account with GT Bank visit:
http://www.gtbank.com/domiciliary-account#opening-your-account
Have any further inquiry on how to create a domiciliary account?
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