Diamond Bank Domiciliary Account: Diamond bank offers a domiciliary account for those wondering, and in these articles are guidelines for opening their domiciliary accounts to help guide with the entire process.
This is a foreign currency account where you can deposit funds before converting them for Nigerian Naira.
Diamond Bank Domiciliary Account
It’s simple to open a Dom. account at Diamond Bank, but you’ll need the following items. Let’s start by examining the characteristics and advantages of the product.
Product Features of Diamond Bank Domiciliary Account
1. $100, £100 & Euro 100 opening balance
2. Interest rate 0.01% p.a. (above 100,000 GBP, USD, Euro)
3. A cash Handling charge of 0.5% on withdrawals
4. No minimum daily balance
5. Customized cheque book (on request)
6. No Monthly Maintenance
7. No restriction on the number of withdrawals
Benefits of Diamond Bank Domiciliary Account
These are the benefits of having a Diamond Bank Domiciliary Account:
1. Monitor account activities at the comfort of your home or office through the internet
2. Free Financial Advisory Services
3. Third-party withdrawals
4. The account is online in real-time
5. Earn interest (Diaspora Savings) on account balances
Requirements for Opening Diamond Bank Domiciliary Account
Despite the fact that the specifications fluctuate based on the bank’s policies, this is for Diamond Bank.
2. Proof of Identity: A notarized/sighted copy of any one (1) of the following Identification:
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- A valid Nigerian passport
- A valid International/foreign passport supported by proof of Nigerian origin (Birth certificate, expired/valid Nigerian passport or driver’s license, etc.)
- A valid Nigerian driver’s license
3. Proof of Residential Address: A notarized/sighted copy of any one (1) of the following:
- Duly filled Banker’s Confirmation
- Copy of utility bill issued within the last three months showing the same address as supplied.
- Bank/Credit statement issued within the last three months showing customer address
4. References (Diaspora Naira Current and Domiciliary accounts): Two acceptable references using either of the following options:
- An independent reference letter obtained from current bankers (foreign) and
- A signed reference form by an Attestor of Nigerian origin who maintains a current account with a Nigerian Bank
- Two signed reference forms by Attestors of Nigerian origin who maintain a current account with a Nigerian Bank.
5. Indemnity: Duly executed indemnity form (for Email, Fax, and Scanned Documents)
6. For Joint accounts: A notarized copy of the marriage certificate is also required along with all other necessary documents as stated above.
- BVN of the signatory or signatories
- AML risk assessment
- FATCA form (if the customer is residing in the USA)
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How to Open Diamond Bank Domiciliary Account
If you already meet the prerequisites, you are prepared to move further.
Follow these steps to complete the required procedure:
1. Enter any local Diamond bank location that is convenient for you.
2. Tell the person at the customer service counter there that you want to open a domiciliary account as soon as possible.
3. When asked if you currently have a savings or current account, you must respond honestly.
4. If you don’t, they will first open a current or savings account for you before opening a dom.
5. They will provide a sample signature card and a form for creating a foreign currency account for you to fill out and sign.
6. Within 48 to 72 hours, an SMS with the specifics of your domiciliary account will be delivered to you.
7. Make a few minimum deposits when you return to the bank to activate the account.
With these steps, you are as good as having a Diamond Bank Domiciliary accounts.
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