Nigeria
Sign in
Personal
Business
Corporate and Investment
Transactional Products and Services
Transactional Products and Services
Insights
Insights
Global Markets
Global Markets
Products and Services
Sectors
Sectors

Diaspora Banking

Diaspora Banking banner

This a specialised offering for Nigerians living abroad. This allows them to send money back home to relatives, manage finances in Nigeria, save to buy a home, invest in local denominated wealth instruments, and execute projects amongst other things.

Some of our benefits

Ease

Transact seamlessly at all times using our robust digital banking channels

Investment

Save and invest in various investments opportunities offered by Stanbic IBTC Holdings

Accessibility

Manage finances and business in Nigeria from abroad

Remittance

Send money back home to family and friends with ease
What you get
  • Domiciliary Transfers, Telegraphic Transfers, Outward remittances, Invisible payments, Form A application for payment of School Fees, Medial Fees, 
  • Stanbic IBTC Asset management Mutual Funds Investment with highly competitive yields (Money Market, Bonds, Guaranteed Investment, Dollar Funds, Imaan Funds, Bonds, Treasury bills, Fixed Deposits, and so on)
  • Access to Mobile and Internet Banking services  
  • Card Services: Debit Cards, Cash-backed Credit cards, Web payments and purchases. 
  • Access to various products and services offered by subsidiaries of Stanbic IBTC holdings (wealth and asset management, stockbroking, pension, insurance, trustees)  
  • A team of highly skilled and dedicated transactional bankers  
What it costs
  • Zero account opening balance 
  • Account Maintenance Fee for current accounts is charged at 0.001% 
  • Diaspora Naira Savings : 1.15% and 1.65% for Diaspora Naira Max-yield Savings 
  • Debit card issuance fee : ₦1075 
  • Telegraphic transfers and outward remittances. Charges are broken down below. 
  • Commission : 0.5% of principal  
  • VAT :7.5% of commission  
  • Telex : ₦4000 (or its equivalent in currency of transfer) 
  • SMS alert fee : ₦4 for every notification received for transactions done and charged monthly   
How to get it
  • Must provide a valid Nigerian government issued ID 
  • Two passport photographs. 
  • Two reference letters. 
  • One of the following:
    • Filled in banker's confirmation; 
    • Utility bill issued within the last three months for an address abroad; 
    • Bank credit statement issued within the last three months showing your address abroad; or of Proof of address in Nigeria along with proof of intention to emigrate (letter from employer or airplane tickets) 

You can visit any of our branches if you are in Nigeria or

  • What you get
  • What it costs
  • How to get it
  • Domiciliary Transfers, Telegraphic Transfers, Outward remittances, Invisible payments, Form A application for payment of School Fees, Medial Fees, 
  • Stanbic IBTC Asset management Mutual Funds Investment with highly competitive yields (Money Market, Bonds, Guaranteed Investment, Dollar Funds, Imaan Funds, Bonds, Treasury bills, Fixed Deposits, and so on)
  • Access to Mobile and Internet Banking services  
  • Card Services: Debit Cards, Cash-backed Credit cards, Web payments and purchases. 
  • Access to various products and services offered by subsidiaries of Stanbic IBTC holdings (wealth and asset management, stockbroking, pension, insurance, trustees)  
  • A team of highly skilled and dedicated transactional bankers  
  • Zero account opening balance 
  • Account Maintenance Fee for current accounts is charged at 0.001% 
  • Diaspora Naira Savings : 1.15% and 1.65% for Diaspora Naira Max-yield Savings 
  • Debit card issuance fee : ₦1075 
  • Telegraphic transfers and outward remittances. Charges are broken down below. 
  • Commission : 0.5% of principal  
  • VAT :7.5% of commission  
  • Telex : ₦4000 (or its equivalent in currency of transfer) 
  • SMS alert fee : ₦4 for every notification received for transactions done and charged monthly   
  • Must provide a valid Nigerian government issued ID 
  • Two passport photographs. 
  • Two reference letters. 
  • One of the following:
    • Filled in banker's confirmation; 
    • Utility bill issued within the last three months for an address abroad; 
    • Bank credit statement issued within the last three months showing your address abroad; or of Proof of address in Nigeria along with proof of intention to emigrate (letter from employer or airplane tickets) 

You can visit any of our branches if you are in Nigeria or

Frequently Asked Questions(FAQs)
What documents are required to open a Diaspora account?

The following documents are required to open a Diaspora Banking account: 

  • Passport Photograph (A recent passport) 
  • Means of Identification - Any one of options a or b stated below will suffice 
  • Nigerian ID card (any of the below is okay) 
  • Valid Nigerian International passport 
  • National ID or NIMC Slip 
  • Permanent Voters’ Card 
  • Drivers’ License 
  • Foreign ID card (any of the below ) 
    • Notarised Foreign International Passport supported by proof of Nigerian origin (expired or valid Nigerian passport, or driver’s license, or NIN or National ID, Voter’s Card)  
    • Notarised Foreign Drivers’ License supported by proof of Nigerian origin (expired or valid Nigerian passport, or driver’s license, or NIN or National ID, Voter’s Card) 
    • Notarised Foreign Resident permit or Work permit supported by proof of Nigerian origin (expired or valid Nigerian passport, or driver’s license, or NIN or National ID, Voter’s Card) 
  •  Proof of address: 
    • One stamped reference letter or a stamped Banker's Confirmation obtained from customer’s bank abroad that states their current address stated on the account opening form. 
    • Notarised Utility bill issued within the last three months for the address stated on the account opening form.  
    • Bank or Credit Card statement issued within the last three months showing customer address. (To be stamped by customer’s bank or notarised). 
    • Notarized Foreign Drivers’ License or Foreign Resident permit or Work permit showing the customer’s current address. 
  • References (either of the below) – For Current and or Domiciliary accounts 
    • A stamped reference letter or a stamped Banker’s confirmation obtained from customer’s bank abroad. 
    • Two completed reference forms from Current account holders (Nigerian) with any Nigerian Bank. 
  • Notarisation or Attestation of valid ID and proof of foreign address only  should be done at any of the following  authorities with designation and contact should be indicated 
    • Nigerian Embassy or High Commission or Consulate 
    • Lawyer or Solicitor 
    • Court 
    • Police Station 
    • Commissioner of Oaths 
    • Public Library or Post Office 
    • Notary public.   
Are internet and Mobile banking facilities accessible to Diaspora Banking customers?

A customer  with digital banking profile can do the following via the Stanbic IBTC Internet and Mobile Banking platform 

  • Conduct bulk and single transfer of funds to beneficiaries.   
  • Bill payments, data, and airtime purchases.  
  • View real time account balances and track up-to-the minute transactions on their accounts 
  • Set up a standing order instruction using our 3S Banking initiative to transfer funds to other accounts within Stanbic IBTC Bank and other Banks in Nigeria.  
  • Request for and Hotlist debit cards.  
  • Print Statement of accounts 
Can corporate accounts be opened for Nigerians in diaspora under the Diaspora Banking platform?

No, the Diaspora Banking service is offered only to individuals and not to businesses. However, the customer will be referred to our Business Banking Team for further engagements.

Why do I have to notarise my foreign driver’s license and proof of address?

Notarisation is required because we are unable to validate foreign documents in Nigeria, so we rely on Notaries to confirm authenticity  

Why do I need a Bank Verification Number(BVN) to open an account?

It is a regulatory requirement introduced by the Central Bank of Nigeria (CBN) to protect customers' banking transactions, reduce fraud to the barest minimum and increase the efficiency of banking operations in Nigeria 

We also offer
Fixed-Deposit-SB_1164127882
Fixed Deposit Account

If you have a lump sum of money to invest and desire amazing returns on it, then our Fixed Deposit Account is perfect for you. With our Fixed Deposit Account, you can earn more interest on your deposits from a period as short as 30 days to up to a full year.

Mobile App_SB_1152373208
Internet Banking

We provide a safe and secured environment for you to make transfers, payments and track your account easily with our internet banking anytime and anywhere. Register or log on to our internet banking now.