Are you in Nigeria and seeking a reliable way to receive payments in dollars? Whether you’re deeply immersed in online ventures like blogging or freelancing, or simply an individual expecting payments from a foreign country, having a bank account that accepts dollar payments is essential.
In this guide, we’ll walk you through the step-by-step process of opening a dollar account online in Nigeria, ensuring a seamless experience for receiving and managing your USD funds.
Whether you’re a seasoned entrepreneur or an ordinary citizen, our insights will help you to open a dollar account, which allows you to efficiently handle international transactions and enjoy the flexibility of making online purchases in dollars.
Advantages of a Dollar Account
Opening a dollar account, often referred to as a domiciliary account, not only facilitates the receipt of funds in USD but also grants the flexibility to make online purchases without relying on virtual cards for transactions on foreign websites.
Opening a Dollar Account Online
In contrast to the traditional method requiring a physical visit to a bank, opening a dollar account in Nigeria is now convenient and can be done from the comfort of your home. This guide walks you through the process of opening an online USD account in Nigeria.
Financial Institutions Allowing Online Dollar Account Opening
Several Nigerian banks offer the convenience of opening dollar accounts online. The list includes banks that enable online account creation without the necessity of visiting a branch unless you intend to fund your domiciliary account. Below are the documents you’ll need to provide to open a dollar account in Nigeria.
Required Documents for Dollar Account in Nigeria
1. Bank Identification Number (BVN)
2. Utility bill from the last 3 to 1 month
3. 1 or 2 passport photographs
4. Valid means of identification (e.g., international passport, permanent voters’ card, National ID card, NIN, or driver’s license)
5. Reference: A person with a current account, whether with the same bank or not.
These standard requirements are applicable to most Nigerian institutions offering online dollar account services.
How to Open an Online Dollar Domiciliary (USD) Account in Nigeria
Follow these general steps to open a dollar account online with any of the listed banks:
1. ALAT by Wema (Wema Bank)
- Install the ALAT app on your Android or iOS device.
- Create and verify your account with BVN and NIN.
- In “My Account,” create a domiciliary account, selecting USD as the desired type.
2. Zenith Bank PLC
- Download the Zenith Bank Account Form from the provided link.
- Complete the PDF form, indicating Domiciliary and $ under the Category of Account.
- Email the form to [email protected] and await account activation.
3. Union Bank
- Download the Account Opening Form from Union Bank’s website.
- Fill in the relevant information, specifying Domiciliary and $ under the Category of Account.
- Email the form to [email protected] and await the opening of your dollar account.
4. UBA (United Bank of Africa)
- Visit the UBA Instant Account Opening Link.
- Choose Nigeria under “Select Country” and click “Submit.”
- Open an account using your BVN, select Freedom Savings Domiciliary, agree to terms, and proceed.
- Verify information, enter an OTP, and submit. Receive an SMS confirming the successful creation of your dollar account after 24 hours.
With these steps, you can easily open a dollar account online in Nigeria, catering to your specific needs for receiving USD payments.