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Stanbic IBTC Bank Domiciliary Account

Domiciliary Account

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There are times when as an individual or business, you need to make and receive payments in a foreign currency. A Domiciliary Account lets you have accounts in currencies other than the Naira. You can pay into these accounts through cash deposits, traveler’s cheques or foreign currency cheque deposits.

  • It provides the services of an offshore account and still gives you access to your money from any of our branches.
  • You can withdraw cash from your account anywhere in the world.
  • You can also transfer money overseas, subject to current CBN rules and regulations on such transactions.
  • It enables you to do business transactions internationally.

 

  • You need a minimum account opening balance of $100 for personal and $500 for business accounts.
  • You only pay a fee of 1% of the amount of each transaction.
  • You need two reference forms
  • A valid copy of a form of ID (original must be shown to your account manager)
  • Two passport photographs
  • A filled in “Know Your Customer” (KYC) form
  • Certification of registration (for business owners)
  • Search report and partnership deed agreement (if any)
  • Valid residence permit for non-Nigerians.
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