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Nairaland Forum / Nairaland / General / Business / Domiciliary Account Opening: Which Bank Has Best To Offer? (56604 Views)
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Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by afuola: 1:57pm On Aug 05, 2018 |
Try and open standard chartered bank, they offer the best, transfer outside the country is excellent, charges for witd is 0.05% of the amount u want to withdraw, no minimum Bal bt it’s good to always leave something. Visit any branch to know more. 4 Likes |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by bravehost4u(m): 1:58pm On Aug 05, 2018 |
sacramento1212:Individual $100 MSME businesses $150 Corporate $2500 That is the opening bal but not strict minimum bal 1 Like |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by InvertedHammer: 2:01pm On Aug 05, 2018 |
3rdavefarms: / First bank is terrible. $2000 mysteriously disappeared from my account without a trace. The account was debited but the recipient did not get it. It took 8 months to be rectified. I had to make another payment while their bs investigations lasted....very frustrating. It turned out First Bank screwed up. It was just one of many frustrating moments I had with First Bank Nigeria. Oh! And the run arounds. Not on my dime. The whole process sounds sweet when they explain it but good luck banking with them. If you don't use the account in 6 months, the account will be dormant. Really? 6 months? And you have bring it all kinds of paperwork, id, etc to reactivate it. Who has time for that nonsense in this day and age? First Bank is hopeless. The only people I will ever advice to open dormiciliary accounts with First Bank are folks that I hate and detest. But since I don't keep enemies, FB ain't get any referrals from me ever. / 13 Likes 2 Shares |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Remijuice: 2:08pm On Aug 05, 2018 |
yinkeys: If you receive payment through PayPal my brother, the bank will pay it into your local account with their conversion rate and you don't quarry them coz you don't have a Dom account. They may even decide to pay you with 280 to 1dollar when the conversion rate is 320 in BDC.. phew! 4 Likes 1 Share |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by J29: 2:12pm On Aug 05, 2018 |
qwertygeni: Standard chattered..ALL nigerian banks will route thru intermediary foreign banks. |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by ciencee(m): 2:16pm On Aug 05, 2018 |
3rdavefarms:Please, can someone open the account and deposit money in local currency (naira) and have them converted into hard currency(dollars), or must one make deposit in the hard currency(dollars)? Secondly, do banks run a fix deposit in(or using) the domiciliary account?. What other services is offered to domiciliary account holder? thanks. |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Cyberknight: 2:19pm On Aug 05, 2018 |
I have domiciliary accounts with GTB and Standard Chartered. Had one with Access that I closed. I explored Diamond and Zenith Bank's offers before I opened with Standard Chartered, and in my opinion the dom account conditions are pretty uniformly lousy all round, but GTB's is among the best of the lot, with the caveat that it depends on what you want to use the account for. 1. Diamond bank does the minimum balance bullshit and for someone like me who receives money from abroad, that's a no-no. GTB allows you to draw your account down to zero if you so wish. 2. In 14 years of operating the accounts, I've never had an issue with any of my transfers to or from the bank. 3. Their charges were OK previously even though they upped them in 2016 or thereabouts. Since I don't make many transfers out, but mainly receive, I can live with that. 4. I prefer their use of a dollar card not directly linked to your account so you first have to transfer funds into it before use. Makes it easier for me to control spending when abroad and also to check fraud to an extent. 1 Like |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Eze2000(m): 2:23pm On Aug 05, 2018 |
yinkeys:Can I transfer money direct from my payoneer account to my savings account? |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Remijuice: 2:23pm On Aug 05, 2018 |
supereagle:How can one migrate from savings to current account? |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Remijuice: 2:33pm On Aug 05, 2018 |
Cyberknight:How do you got referees for those Dom accounts you opened in different banks? |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by postemail: 2:34pm On Aug 05, 2018 |
yinkeys: Good day bro. You mentioned a lot of options here. Could you be kind enough to go into details. For example, I want to transfer 2,000 usd to an oversea company. How does PayPal, payoneer and skrill work? |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by sacramento1212: 2:36pm On Aug 05, 2018 |
bravehost4u: Well, i approached them twice but they insisted that it was for both opening and operating balance. I left them for Zenith and GTB which i opened the corporate USD for zero $ and also can withdraw to zero balance. It was after they furnished me with the wire instructions, i deposited funds. Even the Naira account i wanted to open with them, i carried my opening firms and left the banking hall. |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by postemail: 2:37pm On Aug 05, 2018 |
Cyberknight: Hi. What will be the cost or charges to transfer 10,000usd in GTB? Any FX transfer options on their mobile app? After each transfer, do they issue a transfer receipt? |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by postemail: 2:39pm On Aug 05, 2018 |
sacramento1212: In UBA, when you transfer dollar oversea, they can take the transfer charges from naira account. How about GTB? 3 Likes |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Cyberknight: 2:49pm On Aug 05, 2018 |
postemail: I don't use the mobile app, so I can't really say. And of course you get a receipt after each transfer, at least when it is done from their internet banking platform. If done across the counter, you get the stamped counterfoil from the transfer form as evidence of the transaction. Can't speak to individual charges because the last time I made a transfer was in 2017, but they will take 4k naira equivalent in addition to any percentage of the funds transferred. However, note that the products offered by the major banks vary very little in terms of charges, I assured myself of that before opening the Standard Chartered account. |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Cyberknight: 2:52pm On Aug 05, 2018 |
postemail: They do the same. |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Cyberknight: 2:56pm On Aug 05, 2018 |
postemail: You will have to sign up with their platforms using an email address, then you will input your bank account details to tie your PayPal account to your bank account. Their signup processes are simple and user-friendly. PayPal takes 4% charges, so bear that in mind. On the other hand, all the intermediation payment partners are simple to use and recipients get instantaneous electronic funds they can use to spend immediately or can withdraw in cash in 3 days. Note you can only send funds with PayPal, while you can receive with Skrill, but their charges and exchange rate into naira are not very friendly.(1 to 300) 3 Likes |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Galacious1: 3:14pm On Aug 05, 2018 |
seyiojomu:Pls what's the requirement for opening the acct? |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Cyberknight: 3:26pm On Aug 05, 2018 |
Remijuice: At the time I opened my domicilary accounts with GTB in 2003, they were not requiring referees and you didn't even have to make an opening deposit (i.e. you could open with zero dollars/pounds/euro). 1 Like |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Tobis66: 3:32pm On Aug 05, 2018 |
STANBIC IBTC |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by yinkeys(m): 3:44pm On Aug 05, 2018 |
Remijuice:Well that is you ? We have our ways around it. Ask questions where you don't understand. |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Amberon11: 3:54pm On Aug 05, 2018 |
The funny thing is that I have a foreign account and I was never asked for any referee while opening that account. So why then do I need a referee to open an account in my own country? What about people who don't know any current account holders? I personally want to open a Nigerian dorm but I would hate to ask my father to reference me. Remijuice: |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Remijuice: 3:55pm On Aug 05, 2018 |
yinkeys:Pls Sir, in that case what should i do? |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by yinkeys(m): 3:59pm On Aug 05, 2018 |
postemail:Get a genuine PayPal exchanger. You pay to him in naira & he helps you pay $2000 in PayPal clean funds[/b]at the rate of 340 naira/$ to the company's PayPal account. They have USA PayPal accounts though I have too, if you're interested I can holla my group guys Ask if the company has a skrill account You can create a skrill account, get it verified and purchase [b]clean funds from reliable persons then you can transfer to the company account 1 Like |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Remijuice: 4:00pm On Aug 05, 2018 |
Amberon11:I can understand. Hope your Pa is not a Salary earner. coz they won't accept that if he is a salary earner . |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by yinkeys(m): 4:11pm On Aug 05, 2018 |
Remijuice:Get a USA PayPal account & know how to use it properly. That's what I've been using for 2 years now. |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by yinkeys(m): 4:15pm On Aug 05, 2018 |
postemail:Your question too long. I can't start typing all that o |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by cbngov01(m): 4:19pm On Aug 05, 2018 |
EsotericMonk: FBN is $30 + 0.5% of transfer sum...when u talk about adherence to policy, safety of funds, integrity and information disclosure, u think first bank...thank me later |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by barristerzinny(f): 4:25pm On Aug 05, 2018 |
Pentools:twenty dollars is the minimum, to open a domiciliary account in GTB. Try stanbic bank, I heard they open with 50 dollars. But GTB, is the best. 1 Like |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Nobody: 4:32pm On Aug 05, 2018 |
cbngov01:$30 for what sir? The post you quoted wasn't for dorm account, it was for transacting on a basic account. |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Amberon11: 4:37pm On Aug 05, 2018 |
Nope, entrepreneur ![]() Remijuice: 1 Like |
Re: Domiciliary Account Opening: Which Bank Has Best To Offer? by Amberon11: 4:38pm On Aug 05, 2018 |
How do you do this? yinkeys: |
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