How to Open a Domiciliary Account with Polaris Bank Online

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How to Open a Domiciliary Account with Polaris Bank Online-This is a total guide on how to open a domiciliary account online with Polaris Bank and then know the features attached to it.

Polaris bank of Nigeria allows its customers to send and receive money from other currencies with your domiciliary account, this article will guide you on how to open an account with Polaris bank to enable you to partake in the benefit of having a domiciliary account.

Meaning of Domiciliary Account or Dollar Account

A dollar account officially known as a domiciliary account is a bank account you open in Nigeria (Africa) that enables you to receive and withdraw foreign currencies. With a dollar account in Nigeria banks today you can receive money from different currencies from abroad but is not operated in Nigeria (Africa) currency, with this account you can operate with the three global currencies and you can receive money from either United States dollars, or British Pounds, or Euros.

How many types of Domiciliary Accounts do we have?

There are mainly two types of domiciliary accounts that are presently operating worldwide which are;

Domiciliary Savings account, and
Domiciliary Current account.

NOTE; You can open any one that suits your purpose

Features of Domiciliary Account In Polaris Bank

Minimum opening balance of $100, £50, €50
Minimum operating balance of $10, £5, €5
Competitive interest on savings
Issuance of MasterCard Gold USD Debit Card
Issuance of foreign currency draft on the account
Lodgement of foreign currency cheques and dividend warrant
Direct International funds transfer (Inflow & Outflow)
Access to e-channel platforms

Requirement for Opening a Domiciliary Account with Polaris Bank

Account Opening Form
1 passport photographs
Bank Verification Number (BVN)
Valid means of identification (Int’l passport, Driver’s license, National ID, Voter’s card)
Proof of Address (PHCN, Water bill, Waste disposal bill, tenement, etc.)
Premises Verification Report