How to open an online Domiciliary Account with Polaris Bank –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.
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
See also-How to open an online Dollar Account in Union Bank
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
- Visit the Polaris bank website
- Scroll down to ‘Account Opening Form’, and click on it.
- Three forms will be displayed, that is ‘Account Opening Form, Signature Form, and Reference Form’. Click on each of them, they will be downloaded automatically to your phone or PC.
- Ensure to fill out all the forms you have downloaded.
- Once you have filled them out, email the forms to yescenter@polarisbanklimited.com
