Everything You Need To Know About Zenith Bank Dollar Account (Domiciliary Account)

Made up your mind that you will open zenith bank dollar account or will probably say domiciliary bank account today, first you should know a little information about it.

First, Zenith bank  seemed to have one best domiciliary account in Nigeria, though i will always prefer first bank to it. Their charges is not as high like that of first bank Nigeria or even the united bank for Africa (UBA).

If you're looking for the best dollar account or domiciliary account in Nigeria today, zenith bank should be in your list. It's so hard to experience any issues or hitches on their domiciliary account.

But bef opening zenith bank domiciliary account today, i want you to know what it is all about, and how useful it will be for you.

What is Domiciliary Account 

A domiciliary account is savings account, which receives funds in foreign currency be it pounds, dollar, cedi, Euro, Yen etc and can make payment also in a foreign currency. It is very common in Nigeria and other African countries. 

With domiciliary account, you can receive dollar, pounds, euro or any other foreign currency into your account without the bank automatically converting it to naira. You can withdraw your cash in that foreign currency and head to any aboki or bureau de change for an exchange. 

All banks in Nigeria accepts domiciliary account and opening an account is just similar to savings account, just that you need to have a referee usually from a current account.

This is where most people find it difficult opening a domiciliary account in Nigeria. You need to have a referee which has a current account and it must be two. You can easily find someone with savings account, but current account is quite difficult. 

However, what most people do is to ask help fr the bankers working in the bank to assist you with two referees. But you must be very cautious and careful cause you may not really know the banker very well or the two referees.

You can say zenith bank dollar account but the right name is zenith bank domiciliary account. How do you create one, the requirements and it's usefulness. 

Features And Benefits 

Zenith bank dollar account or domiciliary account is among the account that you create with zero amount or zero account opening balance. The likes of First bank will require that you have $150 which is equivalent to N54,560 in order to open a domiciliary account with them. 

In as much first bank ie costly especially with their charges on any amount received, they are the best for me. 

Zenith bank domiciliary account holder can enroll for internet banking, making it easier and better for money transfer or payment in foreign currency. This is also applicable to zenith bank mobile banking too. 

You can receive emails or alerts on the email address or the phone number you used in opening your Zenith bank dollar account. 


Currently the only currencies available are pounds, euro and dollar. Really surprised that Chinese yen isn't supported, maybe in 2020 it will be included plus others. 

The channels for zenith bank dollar or domiciliary account are;
  • Zenith Internet Banking
  • ZenithDirect – our 24/7 telephone banking
  • Zenith Mobile Banking App – 24/7 on your smart phone
  • Zenith Bank ATM nationwide free cash withdrawal
  • Access your account using your Zenith Bank debit card at participating merchant stores for payment of goods and services in Nigeria and anywhere in the world.

Requirements 

  1. Account opening form (existing account holders with full documentation only require a written letter or completion of account opening form without the provision of any other documentation).
  2. One passport photograph of authorized signatories
  3. Valid ID (Driver’s License, International Passport, National Identity Card or Voter’s Identity Card)
  4. Public Utility Receipt dated within the last three months (PHCNbill, water rate bill, tenement rate, rent receipt, telephone bill etc.)
  5. Visitation Report (Residence)

How to open zenith bank dollar domiciliary account 

Zenith bank dollar account

For those that will ask if it can be done online, the answer is no. You can only download the form online, and still go back to the bank for completion. So it is better you go to the bank and do everything there.

To open zenith bank domiciliary account today, go to any zenith bank branch you know and request that you want to create a savings domiciliary account. Please i didn't say dollar account but rather domiciliary account. 

A form will be issued to you to complete, you need to calmly go through it and fill all the necessary details, anyone that you don't understand, ask the customer service representative to assist you with that. 

Having completed the form, give it back to him or her, your account number will be issued to you. You can also request for zenith dollar card right there but know that it isn't free of charge.


You can open zenith bank dollar account without having any previous account with the bank, cause it is actually a savings account. 

Even though you created the account with zero balance, you need to receive funds to it within space of three months else they will block it. This is why you need to open the account with at least $50.

Again i want you to know that any money transaction that happened on your domiciliary account, attracts a fee of 3% of that transaction. For example you received $300 to your domiciliary account, receiving such money attracts a fee of 3% and it will be deducted from the $300.


This is called maintenance of the domiciliary account. Some banks charge as high as 10%,though the higher the money received, the higher the fee percentage.

This is where i will draw the curtain on zenith bank dollar account or the domiciliary bank account, don't forget to share this post thanks. 
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