The GTBank Domiciliary account affords you the privilege of transacting in foreign currencies irrespective of where you are on the globe. Deposit and withdrawal activities that involve travelers’ cheque deposits, foreign currency check lodgement among others are also carried out with the GTBank domiciliary account.
Walking into the nearest GTBank does not guarantee you will get your domiciliary account opened the same day especially when in urgent need of one, hence the need to get equipped with the opening requirements for the GTBank domiciliary account. This piece seeks to arm you with the various opening requirements.
Account Opening Requirements for a GTBANK Domiciliary Account
The account opening requirements for a GTBank domiciliary account vary slightly for individuals who already own a GTBank account however there are several common grounds. Let’s look at these requirements.
A Valid Means of Identification
This item that the government should issue serves to confirm personal details that you lay claim to. This could be your;
- International Passport
- Voters Card
- National ID Card
- Driver’s License
Very often than not, you are expected to tender just one passport photograph. Having an extra could also be an advantage. The passport photograph should be recent.
Your utility bill helps confirm your address and should have been issued within a 3-month interval between when you embark on opening the GTBank domiciliary account. This could be your;
- Water Bill
- Electricity Bill
You are expected to provide 2 individuals who will be required to fill the reference form. They are expected to be current account holders preferably with GTBank, as this speeds up the confirmation process. However, individuals with current accounts from other banks are also accepted.
Besides these requirements, you are expected to own a GTBank Naira Account, either a current or savings account. This doesn’t require an extra effort than to fill account opening forms alongside other documents you have made ready for the domiciliary account opening process.
The requirements are even lesser for individuals who already own a GTBank current account as they must have presented referees while opening the current account.
Details the Referees would be required to fill
The major challenge individuals trying to open a domiciliary account are confronted with is sourcing for referees. Some guarantors either question the legitimacy of what you are up to with the account or do not have the luxury of time, hence the need to understand what information you will need from them and relate such accordingly.
Here are some contents of the Referee form:
The name of the referee would be required and should be uniform with what is available on their banking details.
Comment About the Individual
The referee is expected to give honest feedback about the individual who is seeking to open the account. Hence consider persons who can attest to your person in terms of reliability and character.
An Active Current Account
This may be with GTBank or any other bank. The provided current account should be active and should have been opened within 6 months or more before the time it’s being presented.
NB: Affirm such accounts are non-salary accounts but current accounts as salary accounts are not accepted.
Their Domiciliary Account Details
The referee is required to state the bank with which they have a domiciliary account even if it is a GTBank domiciliary account. Their domiciliary account number would also be requested.
Other details that would be requested include their;
How long the referee has known you.
An active phone number to confirm the information given.
Steps to Opening a GTBANK Domiciliary Account
To get this done, you would be required to through the traditional route of;
Visiting the nearest GTBank and locating the customer care section.
Request to open a domiciliary account with the bank.
You will be asked if you already own a GTBank account. If yes you will be given a foreign currency account opening form, specimen signature card, and two reference forms. If you do not have a preexisting account with the bank, it would also be opened alongside the domiciliary account.
It is most likely the referees will not be present with you at the bank, you can therefore take the reference forms to them. If they are present and can provide the requirements, likewise you, then you can get that done with.
On submission, the bank official goes through the form to make necessary corrections.
On the other hand, if you already own a GTBank current account, all you will need is to fill the foreign currency account opening form, and the bank takes it from there.
Current account owners who have internet banking enabled on their accounts can open domiciliary accounts from the comfort of their homes. All they need to do is go through their internet banking portal and fill in the required details.
How long does the GTBANK Domiciliary Account opening process take
This highly depends on the bank of the referees you present. Response rates from other banks to confirm the details given by their customers vary, and in return influencing how long it takes to get your account activated.
When referees are both GTBank customers, your domiciliary account is activated within 48-72 hours after the bank has cleared you during form submission. You will get an SMS containing your domiciliary account number and confirming your account has been opened.
Owning a domiciliary account is an absolute necessity in this age, as a lot of activities revolve around sending or receiving payments from various parts of the world either as freelancers or shoppers. You can also choose to open domiciliary accounts for all currencies during the account opening process by ticking all available boxes.
You also should not leave it till it’s late before taking the necessary steps to get your domiciliary account cleared. Getting requirements could take weeks if they are not readily available.
Exchange rates are also a motivating factor to consider opening a domiciliary account as foreign currencies such as the Euro, Dollar have shown some level of stability when compared with the Naira thus giving you more value months later.