How to Open Dollar Account in Nigeria Online

If you are among the people that have been surfing the internet to find information on how o open dollar bank account online in Nigeria, this post will be of tremendous help to you. In this post we will tell you everything you need to know concerning the opening of dollar account online in Nigeria and why you need a dollar account.

We will also explain what dollar account means and answer several online questions that were asked regarding the opening of dollar account online in Nigeria, see some of the questions below.

• Can I open a USD account in Nigeria?
• Which bank can I open dollar account in Nigeria?
• How do I open a domiciliary account online in Nigeria?
• How can I fund my domiciliary account?
• What are the benefits of domiciliary account? Information Guide Nigeria

Read Also: How to buy and sell dollars in Nigeria – requirements, license, things you need

What is a Dollar Account?

A dollar account officially known as a domiciliary account is a bank account you open in Nigeria that enables you to receive and withdraw foreign currencies. It is an account that is not operated in the Nigerian naira but in foreign currencies. A domiciliary account gives you the opportunity to operate a bank account with any of the three global currencies. With a domiciliary account, you can receive money in either United States dollars, British Pounds, or Euros.

Types of Domiciliary Accounts

There are mainly two types of domiciliary accounts, they are;

• Domiciliary Savings account, and
• Domiciliary Current account. Open Dollar account

Can I open a USD account in Nigeria?

You can open a USD account in Nigeria, it is one of the bank accounts that is very

Read  Also: 10 Reasons for Dollar Shortage in Nigeria

Which bank can I open dollar account in Nigeria?

You can open a dollar account in any of the licensed deposit money banks also known as commercial banks in Nigeria. There is no specific bank that you can only open the dollar account with. Examples of the commercial banks you can open a domiciliary bank account with are;  Zenith Bank, First Bank, Union Bank, Access Bank, Guarantee Trust Bank (UBA), Fidelity Bank, United Bank of Africa (UBA), Ecobank, and First City Monument Bank (FCMB).

Requirements to open a dollar account in Nigeria online

The requirements to open a dollar account online in Nigeria is the same requirements you will have to meet if you walk into any of the banks by yourself to open a dollar account.

Read Also: How dollar price increase in Nigeria over the years

Below are the requirements to open a dollar account online in Nigeria.

• Government Approved means of identification; driver’s license, national Identity Card, voter’s card, or International Passport.
• 2 recent passport photographs/
• Bank Verification Number (BVN)
• CIU Form
• Current Utility Bill Top 50 Websites in Nigeria According to Alexa

How do I open a domiciliary account online in Nigeria?

Most banks allow people to open a dollar account online. What you should understand is that the process of opening a dollar account is the same as opening a naira savings account.

If you want to open a dollar account online in Nigeria at Union Bank; Npower recruitment

• Visit the Union bank website
• Scroll down to ‘Account Opening Form’, click on it.
• Three forms will be displayed, that is ‘Account Opening Form, Signature Form, and Reference Form’. Click on each of them, they will be downloaded automatically into your phone or PC.
• Ensure to fill all the forms you have downloaded.
• Once you have filled them out, email the forms to customerservice@unionbankng.com.

If you want to open a dollar account online in Nigeria at Zenith Bank;

• Visit Zenith bank website dollar to naira rate
• Scroll down and click on ‘Download Account Form’. will be downloaded automatically into your phone or PC.
• Ensure to fill all the forms you have downloaded.
• Once you have filled them out, email the forms to: zenithdirect@zenithbank.com or take the form to any Zenith Bank that is close to you.

Read Also: How to Own a Dollar account in Nigeria

The process of opening a dollar account online in Nigeria at UBA is a bit different from other banks.

• Visit UBA website
• Scroll down and click on ‘ Open Account’
• A new page will open, click on ‘Select Country’ and choose Nigeria.
• Once you are done, click submit. WAEC result
• Select account type ‘Choose UBA Nigeria Account’ by clicking ‘Open with BVN’.
• On the new page that opens, insert your BVN, BVN registered phone number, date of birth, email address, and choose ‘Freedom Savings Domiciliary’ as account type.
• Agree to the terms by clicking on the red circle below.
• Once you are done, click ‘Next’.
• Insert the OTP that has been sent to your phone, upload your passport photograph and click next.
• Fill in all the requirements and submit.  JAMB form

Read Also: Effects of Dollar Rate on Commodity Prices in Nigeria

How can I fund my domiciliary account?

Funding your domiciliary account is just like funding your naira account, the only difference is that you fund them with either United States dollars, British Pounds, or Euros.

You can fund your domiciliary accounts through traveler’s cheques, cash deposits, or foreign currency cheque deposits.

It is impossible to fund your domiciliary accounts with the Nigerian naira. You can always buy foreign currencies from your bank or other commercial banks to fund your domiciliary account.

What are the benefits of domiciliary account?

The major benefit of operating a domiciliary account is that it allows you the liberty of carrying out monetary transactions in any of the three world currencies, that is United States dollars, British Pounds, and Euros. JAMB Result

Check and Confirm: How much is Dollar to Naira today     Pounds to Naira today

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