This is an account operated with foreign currency by both individuals and corporate bodies e.g. Dollars, GBP, and Euro etc. Current account holders who have operated their accounts for over six months can operate it. However approval may be obtained for reputable and long-standing savings account holders with references in their records that wish to open the account and also new clients who wish to open both current and domiciliary accounts together.
Follow steps under current account for opening requirements. For an existing customer previous record must be reviewed to ensure completeness of documentation.
For a corporate account there must be a board resolution approving the opening of the accounts, the signatories and signing instruction.
Key features
- Minimum opening balance is $500, GBP 300.
- Inflows can be received from abroad and also funds transferred abroad. This is however subject to prevailing CBN rules and regulations on such transactions.
- 1% flat per transaction.
Opening requirements
- Two reference forms
- A valid ID, utility bill
- Two mandate cards
- Two passport photographs
- A duly completed Know Your Customer (KYC) form
- Certification of registration (for business owners)
- Search report, partnership deed agreement (if any)
Valid resident permit for foreigners.
|
