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Zenith Bank Nigeria Domiciliary Account


Zenith Bank Plc was established in May 1990, and commenced operations in July of the same year as a commercial bank. The Bank became a public limited company on June 17, 2004 and was listed on the Nigerian Stock Exchange (NSE) on October 21, 2004 following a highly successful Initial Public Offering (IPO).

Zenith Bank Domiciliary Account Opening & Requirements

As part of the requirements for operating a domiciliary account with our Bank it is expected that you first possess a normal, current account which, ideally, should have been running for six months. The reason for this is related to the fact that the account opening requirements for a domiciliary account are to be derived in those for the current account. These requirements include;

==>1. Account Opening form duly completed & signed.

==>2. Two (2) specimen signature cards duly completed.

==>3. Two (2) recent clear passport size photographs with your name and signature written on the reverse side.

==>4. Residence permit (where applicable).

==>5. A valid form of I.D. (International Passport, Driver’s License or National I.D.)

==>6. A copy of a Public Utility Receipt (not older than 3 months)

==>7. Initial Deposit.

==>8. Two (02) References.

Zenith Bank has three main types of domiciliary accounts;
==>1. Cash Dom: (USD only)
Basically for Cash Deposits, Cash Withdrawals and Settlement of Credit Card or ATM Transactions. Please note that offshore transfers and Inflows from offshore are not allowed in this Domiciliary Account.

==>2. Ordinary Dom: (Cash Transactions only)
This domiciliary account can be opened in USD, Euro and GBP and like the first type can be used for Cash Deposits, Cash Withdrawals and Offshore transfers. However, like a current account, it can also be used to clear Cheques.

It is important to note that, for this account, any cash deposit in excess of $10,000.00 must be withdrawn as cash while deposits below $10,000.00 can be transferred.
Inflows from offshore cannot be credited to such accounts. Transfers offshore can be done once a week and attract a charge of 1% flat on transferred amount which can be taken from Dom or Current Account.

==>3. Ordinary Dom:
This type of domiciliary account can also be opened in either USD, Euro or GBP. It allows for Cash Deposits, Withdrawals, Inflows from Offshore, Transfers to Offshore, Cheque Clearing, etc.

Like the previous account, any cash deposit in excess of $10,000.00 cannot be transferred but can only be withdrawn as cash. All transfers are subject to a charge of 1% flat.

If you decide to open the Ordinary Dom you can receive a telegraphic transfer from any part of the world provided there is a bank there which is able to effect such a transfer.

If you open a domiciliary account in dollars you can withdraw the money in the same currency. The same goes for the other currencies.

If you do decide to get a credit card it will be tied to the cash domiciliary account as mentioned in option 1 above.

Steps to open a domiciliary account with Zenith bank in Nigeria

After meeting up with all the above requirements, and making a decision on what type of dom account you want with zenith bank, it is now time you proceed to the bank to carry out the necessary steps required for your domiciliary account opening.

==>1. First, walk into any Zenith bank branch close to you and meet with their customer service reps.
==>2. You can either r tell them you want to open a domiciliary account with them or simply request for the person in charge of dom account opening.

==>3. Once given a name, proceed with the aforementioned documents to the person in charge.

==>4. You will be given a Foreign Currency Account Opening Form, specimen signature card, two reference forms for you and your referee to fill.

==>5. If you are with your referees at the bank, you can fill the form immediately and they too will fill theirs. But if otherwise, take all the forms home and fill them properly at your convenient time and give your referees each of the reference form to also fill.

==>6. After proper filling of the form, go back to the bank and submit the forms.

==>7. Just like a normal account opening, they will have to properly go through the form for errors and corrections and then ask you to and await a text message including your dom account number.

==>8. Within 48-72 hours after verification, they will send you an SMS informing you of your new domiciliary account and the account number.

I do hope that the explanation proves satisfactory.

Visit Zenith Bank Official Website To Start

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