Opening a domiciliary account with GTBank can be very easy. I have a dorm account myself and I have used it for several transactions. By way of definition, a Domiciliary Account allows customers to maintain accounts in foreign currencies. You can withdraw cash or make transfers or payments to people outside Nigeria with this account. People or organizations abroad can also make direct deposit into your domiciliary account with GTB (or any bank at all).
These accounts (domiciliary) can be funded by busing travellers cheques, lodgement of foreign currency cheques, cash inflows and cash deposits. So, let me just tell you the easiest way to open a GTB account. The way I opened mine.
How to open a GTBank Domiciliary Account in Nigeria
Walk into any branch of Guaranty Trust Bank in Nigeria and walk straight to any of the customer care representative there. Ask that you want to open a Domiciliary account.
Go along with the following items:
- ID CARD
- Utility Bill (like NEPA Bill)
- Passport Photograph
- $100 in cash
If you already have a savings account, that makes it better. The dorm account (with Euro, Dollars and Pounds) would just be made as an add-on to your savings account.
You will be asked to fill a form, depending on whether you have a savings account or not. You will also be given two referee forms. These referee forms are to be filled and signed by people who operate current accounts with any bank in Nigeria. But it is way better to get referees that use GTB because it is easier to confirm.
When you are returning your filled form, go with the items above with the 2 duly filled referee forms. It is important to note that you cannot use the equivalent of $100 in Naira to open the account. It has to be in US dollars denominations.
The cool part is that you can withdraw a large part of the deposit back. I was able to withdraw $95. Some people have even claimed that they allowed them to withdraw the whole of the 100 US dollars about a week after they opened the dorm account.
After submitting these required items, you will be asked to go. You will normally receive an alert containing your GTB domiciliary account numbers – one for Euro, one for US Dollars and the last one for Pounds Sterling.
That’s the information you need on opening a new GTBank domiciliary account.