Domiciliary Account is a Nigerian Foreign account that receives raw currencies of other countries into the account, right in Nigeria. Most Banks in Nigeria provide such account for those interested in transacting foreign currencies, like dollars, Euro, Pounds etc.
The account gives you access to withdraw raw currencies from ATM in other countries, using the issued debit card. But can’t dispense raw foreign currencies from Nigerian Bank ATM. Even at that, we have outlined simple ways to withdraw the cash in Nigeria from below.
So In this article, we have provided you with ways in which you can withdraw from your domiciliary account in Nigeria. Most banks that offer such account in Nigeria are as follows; GTB, Ecobank, Zenith, Access, Union Bank etc.
To open a domiciliary account in Nigeria, it requires referral form from those already using the account to transact. Some banks demands that those referring you should have their own account running for at least 6 months before they can be eligible to refer another person. Example of such bank is Guaranty Trust Bank (GTB).
Bank Domiciliary Account
Bank Domiciliary account is very secured and reliable for receiving and making payment online. It gives you access to withdraw different currencies of other nation in raw cash, without having to convert the hard currency.
Dom account gives you the opportunity to save and withdraw different currencies at any point in time, no matter the country you are residing, so long as you have the active account. The account is very essential to those dealing with any type of online business that has to do with receiving payments from other countries.
Domiciliary is usually a Current account and not savings. Below are ways to go about withdrawing raw cash from the account.
HOW TO WITHDRAW MONEY FROM ANY DOMICILIARY BANK ACCOUNT IN NIGERIA
1. Writing An Application For Withdrawal
This works just as the title depicted, you only write an application using your withdrawal address, to the bank branch manager where you opened the account and your money will be released. Very simple and reliable.
2. Withdraw Using A Cheque
This is exactly same thing you do when you want to withdraw from other type of accounts in banks. All you need do, is to fill in the details of your cheque containing; the Amount, signature, date etc. Very simple isn’t it?
Domiciliary Wire Transfer
This has to do with bank to bank wire transfer transaction. It can be from local or international. Here, the fund is expected to be transferred in just a week.
Through Withdrawal Slip
Almost everyone banking does this particular transaction. All you need to do, is to get a withdrawal slip from the bank and then fill in the required details and your money would be paid from the foreign currency teller. I specifically recommend this.
Withdrawal from ATM
You are expected to withdraw your money from any globally connected ATM in Nigeria in the local currency or abroad in the country’s currency using ATM debit MasterCard.
Read also: How To Register For Payoneer’s Dollar MasterCard in Nigeria
That is for the guide. Now share this article to help those in search of this information.
