Top 10 Banks With the Best Domiciliary Accounts in Nigeria

Have you been thinking of how to send money to your loved ones in Nigeria? A Domiciliary account is the best option for you! In this article we’ve covered the Banks With the Best Domiciliary Accounts in Nigeria.

What you need is information on why you need to open a domiciliary account, how to use it, and which bank of your choice you would like to open.

This is why this article will be containing the top 10 banks with domiciliary accounts in Nigeria.

What is a domiciliary account?

I’m sure that the majority of Nigerians know what a domiciliary account is, but for the sake of the newbies, let’s state the meaning.

A Domiciliary account is an account that accepts only foreign currencies like pounds, euros, dollars, and many more. It’s however, doesn’t accept Naira which is Nigeria currency.

Why do I need a domiciliary account?

You might think you don’t need a domiciliary account because you don’t have a relative outside Nigeria, but what if your children or children-in-law travel abroad, how will you make transactions then.

You also need a domiciliary account for the following benefits;

  1. You can use this domiciliary account to save money just like the savings account it is, will be useful for you if you want to save money for a project or anything.
  2. You can also save money in a domiciliary account without it depreciating regardless of how unsteady the currency might be
  3. You will also have the chance to access online banking.

Banks With the Best Domiciliary Accounts in Nigeria

Many banks in Nigeria have the option of domiciliary account, there just some outstanding banks that fallat the top of the list.

They give great benefits to their customers. That is why they are listed at the top of the list of the best domiciliary account in Nigeria.

However, the following are the best bank with domiciliary accounts in Nigeria.


Zenith bank has been one of the best banks in Nigeria with good customer service. You can open an account with zero balance. Zenith bank has two types of domiciliary accounts; the ordinary domiciliary account and the cash domiciliary account.

The ordinary account allows the transfer and to carry out foreign transactions without stress where you might be. You have the access to internet banking, mobile banking application, and many more.

You do not need money before you can open an ordinary domiciliary account, you can have zero balance with an ordinary domiciliary account. Ordinary account can be done without moving out of your comfort zone, which simply means you can make transactions online.

The cash domiciliary account does not allow transfers, you can only cash in and cash out.

To open a zenith bank domiciliary account, you need to;

  1. Have an account opening form,
  2. A Valid means of identification be it Voter’s Card, National Identity Card or other valid means of identification
  3. A Public Utility Receipt i.e. PHCH, telephone bill, etc.



Guaranty trust bank is also one of the best banks with domiciliary accounts. It operates in US Dollars, British Pounds, and Euros currencies. You can also make an easy transaction from the comfort of your home.

GTBank domiciliary account allows you to make cash withdrawals in its limited foreign currencies from any GTBank branch. It’s a 24/7 banking service.

To open a GTBank domiciliary account, you need to provide the following procedure;

  1. Valid means of identification, international passport, voters card, or other ID
  2. An account opening form
  3. A recent passport photograph
  4. Recent public utility receipt


Another best bank with a domiciliary account is First Bank, the first bank in Nigeria. It allows their customers to make international transactions. And this domiciliary account allows cash deposit, traveler’s check, or foreign currency.

This bank also has two forms of domiciliary account.

  • The FirstDom Plus
  • Domiciliary account

The FirstDom plus has a high-interest rate, not bank charges are reduced. It is also for users with balances of $5,000

Domiciliary account is limited to SMEs and corporate organizations. It keeps only US Dollars, Pounds and Euros.

To open a First Bank domiciliary account, you need the following;

  1. A valid ID card
  2. An account opening formNpower Recruitment
  3. A recent passport
  4. Public utility bill

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4. United Bank for Africa (UBA)

One of the best banks within Nigeria. It has a quite lot of options when opening a domiciliary account. It has a Dom Advantage account, Dom Advantage plus account, Freedom Dom account, and U-Care Plus domiciliary account.

The following are the features of the UBA domiciliary account:

  • UBA domiciliary account has a limited withdrawal
  • It allows internet banking
  • Zero charges for both transfer and withdrawal
  • There are bank statement and SMS alert
  • It operates majorly in currencies like US Dollars, Pounds and Euros, etc.


This bank offers good customer service and reasonable benefits for their customers. That is why it is rated as the top list of the banks with the best domiciliary account. It also has limited currencies its customers can use; Pounds, US Dollars, and Euros.

The following are the characteristics of FIDELITY BANK DOMICILIARY ACCOUNT:

  • The minimum opening balance for US Dollars, Pounds, Euros is $€£
  • Minimum operating balance of $€£JAMB Form
  • It has the privilege of internet banking
  • It gives interest rates, etc.

How to open a fidelity bank domiciliary account

  • An account form
  • A valid ID card (National Identification Card, voter’s card, and other identification accepted by the bank)
  • Utility bills
  • Residence
  • A recent passport
  • Bank statement issued recently


This bank is one of the best banks with the domiciliary account also has many good options for their customers. They allow transactions of foreign currencies like Pounds, Yen, US Dollars, and Euros.

There are two types of access bank domiciliary account; the domiciliary current savings account.

In the domiciliary current account, checkbooks are available, you can withdraw a lot of money need, no limitation, and a maintenance fee isn’t required. There are many benefits of domiciliary current account.

For a domiciliary savings account, the cheque isn’t required, the flexibility of opening an account, and many more are features of a domiciliary savings account.

To open a domiciliary account with an access bank, you need to follow their requirement;

  • Have a valid ID card,
  • Passport required
  • As a foreigner, you must have a residence permit and some other requirements.


Union Bank also has different domiciliary accounts whichever the customers want; there is a domiciliary savings account, current account, and travel card US Dollars domiciliary account.

To open a union bank domiciliary account, you need;

  • Passport
  • Valid Identification card
  • Current pay bill
  • BVN
  • And a CIU form

8. First City Monument Bank (FCMB)

This also falls to one of the best banks with the domiciliary account. Like other domiciliary banks, you can also make foreign transactions without stress and with comfortability.

This bank also has a domiciliary current and saving account. A domiciliary saving account allows saving money while a domiciliary current account helps to carry out foreign transactions anywhere.

To open an FCMB domiciliary account, you need the following;

  • You need an account opening form
  • A passport photograph
  • Valid ID cardMTN WiFi Price in Nigeria and where to buy
  • Residence permit

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Open a domiciliary account with Stanbic IBTC, being part of the best domiciliary account should make you reconsider opening an account with Stanbic IBTC.

You can make transfers and also receive money in currencies but not in Naira.

To open a Stanbic IBTC domiciliary account, you need to have;

  • a minimum deposit of $100 for a person and $500 for your business
  •  a means of identification and other things asked for.


Polaris bank allows international transactions. It makes transactions easy to make at your convenience. You can pay your bills, save money for your children, and many other things to do with your domiciliary account when acquired.

To open a Polaris bank domiciliary account, you need the following;

  • valid ID card
  • utility bill
  • Passport photograph, any other banks requirements.

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