How to open a dollar account in Nigeria Banks

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A dollar account, also called a domiciliary account, is a type of bank account (savings or current) that Mainly receive foreign currencies; this article is meant to teach and guide you how to open a dollar account in Nigeria.

The Central Bank of Nigeria introduced some new rules involving receiving funds in dollars from outside Nigeria, which reveals that transfer outside Nigeria can only be done in dollars, which will employ the use of a dollar bank account, and also used to receive from abroad.

Some other advantages of a Dollar Account are;

• Receive bank transfers from abroad easily
• Dollar MasterCard and Visa cards can be used to make purchases abroad.
• Online Banking Can be done with a MasterCard dollar bank account to any part of the world.
• Pay bills overseas
• Transfer funds abroad
• Receive funds in many denominations (USD, EUR, GBP).

How To Open A Dollar Account In Nigeria

Majorly, Nigerian banks prefer to open US dollar, which appears more simple, though, banks have different protocols and requirements during the process of a dollar account.

• Go to your Nearest bank (a form will be given to you), fill the application form…

Attach Any Of The Following;

• Driving license
• International passport
• National I.D Card
• An average of three passport photograph
• Utility bill ( Power bills preferably)
• Permanent Voters Card

You will ask to provide minimum of two referees that have current account, after that taking the above measure, your dollar account will be open

Follow the steps highlighted above and you will have your dollar account that can receive or send money to anywhere in the world.

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