EsotericMonk:
It's funny how people answer questions, we just throw in answers which do not address the concern of the Op. Clearly, we're mentioning our favourite banks.
@op, opening a dorm account has pretty similar pre-conditions for many of our banks.
- 2 referees with current account
- opening balance of $100 (no matter the currency you're opening the account in)
- dorm card for $10
- utility bills
As per which bank is best, thats very subjective cos many of our banks are shitty. When I did my due diligence, many of my friends said they settled for diamond bank cos they offered a pound card (clearly many were interested in a pound dorm account).
Last last I decided against opening the dorm and simply upgraded my regular account to enable me make forex transactions while also opening an account abroad with XYZ bank.
Hope this helps

Opening an account abroad from Nigeria "US" precisely how possible is that

Pentools:


Good offer.

This is how you fail exams. First you said "juicy offer", the guy asked you to explain, then you said "good offer". But you still have not answered him. What is "good offer", what makes it good, compared to other available offers?

seyiojomu:
GTB is your best option. Flexibility of controlling your accounts at ease is a selling point. They are also the most international transaction friendly bank I have seen around even in the midst of our FX instabilities.

Do they pay interests on my deposit? And how many referees do i need. I wanna open one dom account next month this is why i ask

Veetee:
i have a personal gtb dorm account and i just opened a corporate account with zenith and skye bank. the skye bank isnt fully active yet because the referess i used where not from skye bank. my zenith is fully active for now .

How many referees. And do they have saving variant?

supereagle:

You are very correct.

Do they have a savings variant of the Dom account?

Adefemiaderoju1:
Having domiciliary account is not a problem but when you want cash out your money � � they will be telling you they don't have dollars they Can only pay you with naira bullshit

true

spiritedtete:
What the op is trying to get is the bank charges... In depositing and tranfering... For example GTB charges 10 USD for any thing below 100 USD when tranfering... And also there is a charges .0.5% when you want to with draw or even transfer. (I don't know if same applies for transferring to other international banks)

On the dom usage flexibility like other bank.... Including Zenith they change policies anytime... But GT will always give you time to adjust.

More also recieving money from bank outside is easy unlike some bank that will hold it first... Up to a week. With GTB no matter the volume 3days you will see your money.

More also GTB to me and though Zenith with one or two other banks in Nigeria are the only bank that practice beyond retail banking.

Many of the banks in Nigeria can't even interprets or work with payment instruments.

Your answer so far is the most comprehensive but you over looked something. How much is will they charge for deposits into the account? I mean when money enters

jazinogold:
I think Wema bank has the best domiciliary account...cheap rate and swift transaction.


have you tried ALAT by wema....it has a virtual dollar card were you can load any amount of dollars in it and use for online shopping and transactions, I use it for my Facebook Ads....its awesome

they are the worse when you expecct to recieve payment back from merchant site... you wont be able to get payments back even if you call CC.. i suggest you use a bank you can communicate with CC live or talk to a bank manager who can tend to your needs

Eze2000:


Your answer so far is the most comprehensive but you over looked something. How much is will they charge for deposits into the account? I mean when money enters

no charge

Rooneyboy:

Opening an account abroad from Nigeria "US" precisely how possible is that

If you have a job or business concern or your visa type permits you (eg student visa with >6 month residence) to then its no biggie. You'd ofcus need to present evidence of such or a letter of introduction from the job or school , your passport , evidence that you pay bills.
This is generally speaking, I don't know of US in particular.

ellalina:
See rich people talking about money

I see you a lot now.

Can one receive money from abroad via his dorm account and withdraw over here in nigeria

.....

There are no interests on FX deposits.
You will need to references, similar to opening any current account. A Dom account will be created for you alongside a card account (mastercard?) for that Dom account.

Eze2000:


Do they pay interests on my deposit? And how many referees do i need. I wanna open one dom account next month this is why i ask

No, Dom accounts will not give you interest on your deposits. As a matter of fact, you pay a yearly charge if you have a card attached to the account. Naira to dollar deposits in-country is not ideal and no official information is ever given on that possibility. As a rich or highly enterprising customer though, they can bend rules for you if you speak to your account officer.
I don't work in the bank though, but you can visit any GTB, they always have friendly customer service personnel's and ready to answer our ridiculous questions always.

lordm:
please can I have your contact number, I need some info about dom account. Do they give interest like normal savings account. I just want to open it and save my money in dollars. I don't want to transfer to anyone. Please I need to ask you questions. Does the bank change naira to dollar for you when you want to deposit, etc. Please I intend opening up the account on monday

qwertygeni:
Dear Nairalanders, please I would like to know the best bank to open a Domiciliary account with with respect to the ease of opening, charges likely to be incured ( bank commission, travelex and offshore) and minimum account balance. I intended to make a payment of less than $1,000 to a company in China thru transfer or western union. So I decided to use transfer using Dom account as I can't make subsequent transaction using Westernunion cos of quarterly restrictions.

I have been to more than one branch of some banks like GTB, first bank and FCMB and I hear different things from different branches of same bank . My experience is that most of these guys at the FX table of these banks are either not sure of these information especially on charges or purposely not sincere.

Dear all, I will be grateful for all info that could be of help in this regards.

Thank you.

If you intend paying a company in China, why not make use of CBN fx window for SMEs. You get to buy at 358 naira per dollar @ Skye bank.
No need opening a domiciliary account, all needed is a corporate account and your proforma invoice.

ellalina:
See rich people talking about money

yu getting Hot abi

nawa o

franzis:


Use your Nigerian paypal account linked with your debit card ( ecobank mastercard preferably, rate is N362 / $1) to make the payment , just ask the seller to send you their paypal account address or they send you prepayment invoice to your PayPal account.

First bank , GTbank accepts lower dollar amounts , the easiest way to open a dorm account with these bank is to have a current account with them by that 90% of the account opening process is done.

my name is David.. pls how do I get PayPal account pls.. 08034403341--wasap

Skyebank all the way

seyiojomu:
No, Dom accounts will not give you interest on your deposits. As a matter of fact, you pay a yearly charge if you have a card attached to the account. Naira to dollar deposits in-country is not ideal and no official information is ever given on that possibility. As a rich or highly enterprising customer though, they can bend rules for you if you speak to your account officer.
I don't work in the bank though, but you can visit any GTB, they always have friendly customer service personnel's and ready to answer our ridiculous questions always.

thanks bro, I don't need the card, I only want to save and withdraw with withdrawal slip, I hope there will be no hidden charges for that. But I guess they will sell dollar for me at the bank to deposit, and if I withdraw I intend changing it at aboki. So is there any charge since I will not be using the dollar card?

Eze2000:

Do they have a savings variant of the Dom account?

I use that one. once you have a current account with, to open dom is hassle free.

qwertygeni:
Dear Nairalanders, please I would like to know the best bank to open a Domiciliary account with with respect to the ease of opening, charges likely to be incured ( bank commission, travelex and offshore) and minimum account balance. I intended to make a payment of less than $1,000 to a company in China thru transfer or western union. So I decided to use transfer using Dom account as I can't make subsequent transaction using Westernunion cos of quarterly restrictions.

I have been to more than one branch of some banks like GTB, first bank and FCMB and I hear different things from different branches of same bank . My experience is that most of these guys at the FX table of these banks are either not sure of these information especially on charges or purposely not sincere.

Dear all, I will be grateful for all info that could be of help in this regards.

Thank you.

Call this number 07035641845

Eustace70:
I am using zenith Bank now, but my problem with them is that they refuse to take lower dollar notes, when depositing you must have $100-notes

oga that's not true!

Non. They are all fraudsters

visit any UBA Branch n enjoy this service thank you

I have used GTB for 6 years now and I have had no issue at all till date. Their Service charge is far better than UBA and Zenith Banks.

Hallenjay:
how much for opening deposit

For individual Dom account, what you need is a 100 Pounds, Dollar or Euro. Depending on your currency of choice. Note that this initial opening balance is withdrawable. The only strict amount required to remain in your account is 1 Dollar, Pounds or Euro.
You are entitled to an ATM card that works perfectly outside the country.
Our mobile app can be used to transfer funds from your Dom account to any part of the world.
You have access to online banking too.
Onboarding is seamless and easy.
PM me for further assistance

sacramento1212:


Diamond Bank with their minimum operating balance of $100 for Individual account and a higher amount for Corporate accounts?

For individual Dom account, what you need is a 100 Pounds, Dollar or Euro. Depending on your currency of choice. Note that this initial opening balance is withdrawable. The only strict amount required to remain in your account is 1 Dollar, Pounds or Euro.
You are entitled to an ATM card that works perfectly outside the country.
Our mobile app can be used to transfer funds from your Dom account to any part of the world.
You have access to online banking too.
Onboarding is seamless and easy.
PM me for further assistance

seyiojomu:
No, Dom accounts will not give you interest on your deposits. As a matter of fact, you pay a yearly charge if you have a card attached to the account. Naira to dollar deposits in-country is not ideal and no official information is ever given on that possibility. As a rich or highly enterprising customer though, they can bend rules for you if you speak to your account officer.
I don't work in the bank though, but you can visit any GTB, they always have friendly customer service personnel's and ready to answer our ridiculous questions always.

Diamond Bank Dom account pays interest. You can even do fix deposits in Dollar, Pounds or Euro

bravehost4u:


For individual Dom account, what you need is a 100 Pounds, Dollar or Euro. Depending on your currency of choice. Note that this initial opening balance is withdrawable. The only strict amount required to remain in your account is 1 Dollar, Pounds or Euro.
You are entitled to an ATM card that works perfectly outside the country.
Our mobile app can be used to transfer funds from your Dom account to any part of the world.
You have access to online banking too.
Onboarding is seamless and easy.
PM me for further assistance

Except the situation recently changed or it's an in house development, what i was told was a minimum of $100 operating balance for an individual account while $2,500 for a corporate account.

ntyce:


If you intend paying a company in China, why not make use of CBN fx window for SMEs. You get to buy at 358 naira per dollar @ Skye bank.
No need opening a domiciliary account, all needed is a corporate account and your proforma invoice.

This one is outdated. What is onboard is Naira-Yuan swap... But as an importer, having a Dom account is necessary

Amberon11:
Why should Nigerian banks request for referees from Nigerian adult citizens?

Just to Make it difficult for us because they benefit more when you don't have foreign account and they are the one doing the conversion for you.

For example, if you receive payment they may pay you 280 to 1dollar into your local account.
But if you have Dom account you can withdraw your hard currency meet the BDC and exchange it 320 to 1dollar.

Imagine if you are changing up to $100