UBA Domiciliary Account: How to Open a Dollar Account in UBA Bank Nigeria –This is a comprehensive summary on how to open a dollar account with and the advantages of having a dollar account in Nigeria.
A dollar account officially known as a domiciliary account is a bank account you open in Nigeria that enables you to receive and withdraw foreign currencies. this account doesn’t operate in local currency but in foreign currency and it guarantees you the opportunity to operate with any of the three global currencies with this dollar account you can receive money in either United States dollars, British Pounds, or Euros.
UBA Dollar Account Requirement
To open a dollar account in UBA, a few things are required of you. Below are the things you need;
- A completed application form;
- A copy of your ID;
- 2 passport photographs;
- Completed reference forms;
- Proof of address.
Benefit of Having UBA Dollar Account
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
How to Open a Dollar Account in UBA Bank Online
Even without going to the bank to open your dollar account, just with your phone, you can get these done just follow the procedures below;
- Visit UBA website
- Scroll down and click on ‘Open Account’
- A new page will open, click on ‘Select Country’ and choose Nigeria.
- Once you are done, click submit.
- Select account type ‘Choose UBA Nigeria Account’ by clicking ‘Open with BVN’.
- On the new page that opens, insert your BVN, BVN registered phone number, date of birth, and email address, and choose ‘Freedom Savings Domiciliary’ as the account type.
- Agree to the terms by clicking on the red circle below.
- Once you are done, click ‘Next’.
- Insert the OTP that has been sent to your phone, upload your passport photograph, and click next.
- Fill in all the requirements and submit.
NOTE: The process of opening a dollar account online in Nigeria at UBA is a bit different from other banks.
Black Market rate of Dollar to Naira
|Dollar to Naira (USD to NGN)||Black Market Exchange Rate Today|
Limitation of Dollar Account
Even in your normal bank account you have limitations so do the Dollar account customers are to comply with a daily limit of $10,000 deposit either by inflow or cash deposit and a monthly cumulative of $20,000 (cash deposit) into their domiciliary accounts.
How to Complete the Application Form Online
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