How to Open a UBA Domiciliary account?

Read all about how to open a UBA domiciliary account.

UBA, which is one of the leading commercial banks in Nigeria operates different types of Domiciliary account. Freedom Dom account, Dom Advantage and Kiddies domiciliary account.

I am going to be writing about all the different types of UBA domiciliary account and the requirements you will need to open an account.

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What is a Domiciliary account?

A domiciliary account, popularly called a ‘Dom Account’, is any account type that is run in foreign currency. It could be a savings or a current account, but it is in every other currency but Naira.

How to Open a UBA domiciliary account?

To Open a UBA domiciliary account, you will need to visit the nearest UBA branch with all the requirements, depending on the type of domiciliary account that you want to open.

All your documents will be processed and you will be given a form to fill, which you have to fill correctly.

After you have submitted all the requirements, your domiciliary account will be opened and you will be given your account number.

Requirements to Open a domiciliary account?

Requirements for Opening a Domiciliary Account in Nigeria

• Completed account opening form.
• Completed specimen signature card.
• Two recent passport photographs.
• Address verification document, such as a utility bill.
• Valid identification document, such as international passport, driver’s license, international driver’s license or national ID card.
• Residence permit.
• Proof of address (stamped reference letter or a stamped bank confirmation that shows your address).
• A stamped reference letter or a stamped banker’s confirmation of your bank abroad.
• Two (2) reference forms from Nigerian current bank account holders.
• Marriage certificate (for joint account).

Types of UBA domiciliary account

Freedom Dom Account

This domiciliary savings account is built to receive foreign remittances, with no limits, directly into your account.

With the Freedom Savings Domiciliary account, you enjoy the following benefits

Easy documentation requirements

• Zero balance account opening
• Free access to check account balances via our Mobile App and the Internet banking platform
• Receive foreign currency and Telex inflows directly into your account
• No withdrawal charges

Dom Advantage account

Dom Advantage is a current or savings domiciliary account denominated in foreign currency – US Dollar, Pound Sterling, EURO etc., but operated by in Nigeria as Domiciliary Account.

Benefits

Minimum opening balance of $ 100, € 80 or ₤ 70 or its equivalent in other currencies Account is operated in any of the major currencies- US Dollar, GBP, Euro etc Foreign Cheques/Instruments can be credited to the account Can be used as a channel for Investments in securities and real Estate in home & abroad

UBA Kiddies Domiciliary account

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Kiddies Domiciliary Account was created for parents who want to save for their children’s secondary/tertiary education abroad.

With more and more students trooping overseas to study, the best way to secure you child’s future financially is to save in a foreign currency which isn’t prone to depreciation. With an opening balance of $100 or £70 or its equivalent and an operating balance of £350 or its equivalent, you’re good to go.

Requirements

• Valid Identification of Parent/Guardian
• Two Passport photographs of Child and Parent
• Child’s birth certificate
• Utility bill of the parent/guardian
• BVN of the parent/guardian

Conclusion

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