There comes a time or period when as an adult, you realize that having just a naira account will not be sufficient. Either you’re dreaming big with the hopes of one day earning in dollars, or you want to receive money transfers from foreign countries, or even likely you have embarked on a saving journey in currencies other than the naira. Whatever the reason, you should consider opening a domiciliary account. If you want a hitch-free and stress-free process, then you should consider opening one with zenith bank. This content will provide you with all the details you might be curious about, as well as the requirements needed to open a zenith bank domiciliary account.
You should know that Zenith bank offers two (2) options when dealing with domiciliary accounts. They are the ordinary and the cash domiciliary accounts.
Ordinary Domiciliary Account
This type of domiciliary account enables the owner to conduct overseas transactions from wherever he is. Transfers, payments, standing orders, and other banking transactions can be completed without entering the banking rooms thanks to debit cards, internet banking, and mobile banking applications. The following is a feature of an ordinary domiciliary account:
- Zero Opening Balance: Walk into any Zenith bank closest to you and request an account opening form. You can as well download the Ordinary Domiciliary Account opening form online.
- Internet Banking – Transactions can be done online. This means transactions are made more accessible.
- Debit Card (USD) – Zenith bank is also able to issue dollar debit cards which makes payments online easier.
- Mobile banking – Another significant aspect of the Ordinary Domiciliary Account is its ability to track expenses. Even when you’re on the road, you may conduct business. You can also check your account balance on your mobile device if you have the mobile app loaded.
- Email/SMS Alerts – This feature enables you to get an email and SMS alert of transactions.
- USD, GBP & EUR – Only the US Dollar (USD), British Pounds (GBP), and the Euro (EUR) are available options.
- Standing Orders.
Opening Requirements for an Ordinary Domiciliary Account
- Account opening form (existing account holders with complete documentation only need a written letter. It can also be completion of account opening without the need to provide any other form of documentation).
- One passport photograph of the authorized signatories.
- Valid Identification (Driver’s License or International Passport, it can also be your National Identity Card or even Voter’s Identity Card).
- Public Utility Receipts dated within a range of the last three months. (PHCNbill, water rate bill, rent receipt, telephone bill, etc.)
- A visitation report (Residence).
Cash Domiciliary Account
You can also use the Cash Domiciliary Account to make international transactions from anywhere in the world. Debit cards, internet banking, and mobile banking applications allow you to make transfers, payments, and standing orders without having to walk into a bank.
The same functionalities of ordinary domiciliary accounts are included in the cash domiciliary account, except for the addition of the following:
- No transfers are allowed. (Cash in and cash out only)
Opening Requirements for Cash Domiciliary Account
- Account opening form (existing account holders with complete documentation only need a written letter. It can also be the completion of the account opening form without the need to provide any other form of documentation).
- One passport photograph of the authorized signatories.
- Valid Identification (Driver’s License or International Passport, it can also be your National Identity Card or even Voter’s Identity Card).
- Public Utility Receipts dated within a range of the last three months. (PHCNbill, water rate bill, rent receipt, telephone bill, etc.)
- A visitation report (Residence).
Available Channels for Zenith Bank Domiciliary Accounts
- EaZymoney (Available only for Cash domiciliary accounts.)
- Zenith Internet Banking
- ZenithDirect – our 24/7 telephone banking
- Zenith Mobile Banking App – 24/7 access on your smartphone
- Zenith Bank ATMs nationwide – free cash withdrawals
- Use your Zenith Bank debit card at different stores to pay for goods and services in both Nigeria and anywhere in the world.
You can apply for a domiciliary account once you’ve checked with the bank and have the necessary papers. The appropriate forms you’ll need are usually available to obtain and fill out online. On the other hand, many banks insist that you apply in person at a branch near you. That being said, most banks enable you to withdraw money from any unit and do not limit the number of times you can make withdrawals, allowing you to get your money fast and efficiently.
A domiciliary account can be opened and operated by both people and businesses at most institutions. You can apply as long as you have all of the required documents, such as identification, a valid residency permit, proof of address, and the appropriate bank forms.
So, what are you waiting for? Walk into the zenith bank nearest to you and get that domiciliary account opened as soon as possible. You can be sure and confident that you have nothing to lose and a lot more to gain.
