How to open a dollar account with access bank: The domiciliary account allows you to conduct international or local transactions, such as sending or receiving payments in foreign currency, from the convenience of your own home or office.
Access Bank has made it simple for its customers to send and receive money from many countries using a domiciliary account. However, this account allows the consumer to transact in three major currencies: US dollars, British pounds, and Euros.
In this article, I will go over how to open a domiciliary account with an access bank, as well as the benefits.
Requirement to open a dollar account with access bank
Customers can easily open a domiciliary account through Access Bank or online banking. However, the criterion remains the same for both techniques. They include:
- A valid ID card, such as a voter registration card, driver’s license, national identity card, or international passport, is necessary.
- 2–4 recent passport photos are necessary.
- A current copy of the utility bill, i.e., Nepa bills no older than three months, is necessary.
- BVN is necessary. Signatures from two references with current accounts are necessary.
- The minimum amount needed to open this is $100.
- Companies should consider forms CO2 and CO7.
- A Memorandum and Articles of Association are essential for corporations.
How to open a dollar account with access bank Via internet banking
- Visit www.accessbankplc.comand click on ‘Account Opening Form.
- Download the forms that will be displayed on the site.
- Ensure to fill out all the forms you have printed.
- Once you have filled them out and attached other relevant documents, please email them to customerservice@accessbankng.com.
Types of Dollar account
There are two types of domiciliary accounts, namely;
Domiciliary Savings account
The domiciliary saving account allows the consumer to save in any of the three currencies while collecting interest.
Features of Domiciliary Saving account
- The minimum amount required to open this account is 500 USD, GBP, or Euro.
- The issuance of a debit card costs $10.
- Monthly interest rates range between 0.1% and 0.2%.
- A non-cheque account.
- Every other transaction incurs a fee.
- Customize your debit card.
Benefits
- The maximum daily cash deposit is $10,000.
- The maximum transfer limit is $50,000.
- Customers can settle costs in naira at the interbank rate.
- The transfer fee is 0.5 percent.
Domiciliary Current account
Domiciliary’s current account allows you to complete transactions from the convenience of your own home. The account is funded with dollars, pounds, and euros.
Features of Domiciliary Current account
- The minimum deposit to open an account is $100 USD, GBP, or Euro.
- There are no monthly maintenance fees.
- You can make an infinite number of withdrawals.
- Cheque books are customized.
- The interest rate for a minimum of $100,000 USD is 0.001%.
- Withdrawals will incur a 0.5% fee.
Benefits
- You can get financial advice for free.
- It supports third-party withdrawals.
- You may monitor your account activities from the comfort of your own home using the internet.
FAQs
Does access bank give a dollar card?
Yes, access Bank delivers customized debit cards to its customer whenever requested.
Can I deposit naira to my domiciliary account?
No, you cannot deposit naira; only foreign currency can be deposited in your domiciliary account. However, you can exchange your naira for any foreign currency at the bank.
Can I receive dollars in my access bank account?
Access Bank’s domiciliary account enables consumers to receive a dollar from family or friends abroad. You can also withdraw funds in the form of dollars.
How much is $100 in the black market today?
Currently, $100 is 144,927.54 naira in the black market.
Conclusion
Access Bank’s domiciliary account enables people and businesses to save and conduct international transactions from the convenience of their own homes or offices.
I hope you got a lot of useful information from this article on how to open access bank domiciliary accounts.
