Talking from my own personal experience, Zenith Bank PLC is the easiest bank to open domiciliary account in any of the Nigerian Banks. Incase you don’t know the meaning of a domiciliary account, it is an account you can open in nigerian banks that is operated in foreign currencies which could be in dollars, euros, pounds, yen, yuan etc.
Requirements to open a domiciliary account with Zenith Bank
1. Utility Bills eg. PHCN or electricity bill, water bill, etc
2. 2 referees that is operating current account in any nigerian bank: You will be given referees form that will be filled by your referees and submitted to the bank for verification. This is where you may have difficulty if you cannot easily get a referee that uses current account in any bank in nigeria. Zenith Bank may not open your domiciliary account even though you have every other thing available. Move around your area, streets, people you know, your church, mosque, shrines, association and explain that you want to open a current account and needs referee that currently operates current account in any nigeria bank.
3. 2 Passport
4. Means of identification like National ID card, Voters card, drivers license, International passport
5. Your Bank Verification Number(BVN)
If you have a Naira savings account with zenith bank before now, your documents and details is already with them, so, the only thing zenith bank will ask for is getting 2 referees.
How much to open a domiciliary account in Zenith Bank
You can open domiciliary account in Zenith Bank without any initial deposit. It is free to open domiciliary account with zenith bank but if you have money you want to save their, you can go ahead to save your foreign currency in your domiciliary account. Personally, I opened my dollar-denominated domiciliary account without any opening balance.
Most banks in Nigeria will ask you to bring 100$ or 70euros or pounds sterling, etc. Some bank like diamond, gtbank will tell you that you can withdraw your opening balance after opening the account while some bank like first bank will tell you that you cannot withdraw your opening balance.
If you have any comments, reactions, contributions, drop them below in the comment section.