How to Open a Zenith Bank Domiciliary Account and Requirements

Are you ready to embark on a financial journey that transcends borders? Opening a Zenith Bank domiciliary account could be your key to seamless international transactions, currency diversification, and global financial empowerment.

In today’s interconnected world, having a domiciliary account has become necessary for individuals and businesses. In this article, we will walk you through the steps to open a Zenith Bank domiciliary account and outline the requirements you need to meet.

Zenith Bank Domiciliary Account

Zenith Bank domiciliary account overview

A Zenith Bank domiciliary account is a specialized bank account that allows you to hold and transact in foreign currencies. This type of account facilitates international financial activities, making it easier for individuals and businesses to manage foreign currency transactions, save in foreign currencies, and engage in cross-border trade. Some of the key features and benefits of a Zenith Bank domiciliary account include:

  • Currency Diversification: With a Zenith Bank domiciliary account, you can hold and transact in multiple foreign currencies. This allows you to reduce currency risk and advantage of favorable exchange rates when conducting international transactions.
  • International Transactions: Zenith Bank domiciliary accounts are tailored for international transactions. You can receive funds from abroad, make payments in foreign currencies, and even seamlessly conduct wire transfers to other countries.
  • Investment Opportunities: Domiciliary accounts can be used as a gateway to invest in foreign assets such as stocks, bonds, and other financial instruments denominated in foreign currencies. This opens up opportunities for portfolio diversification and global investment.
  • Foreign Exchange Services: Zenith Bank provides access to foreign exchange services, allowing you to buy and sell foreign currencies at competitive rates. This can be particularly useful for businesses engaged in international trade.
  • Secure Storage: Your foreign currency funds in a Zenith Bank domiciliary account are securely stored, reducing the risk of keeping large sums of foreign cash. This adds a layer of security to your international financial holdings.
  • Ease of Access: Zenith Bank offers convenient access to your domiciliary account through various channels, including online banking, mobile banking, and in-branch services. This guarantees the smooth management of your foreign currency holdings, no matter where you are.
  • Global Banking Network: Zenith Bank is part of a global banking network, which means you can access banking services and support when traveling or doing business internationally. This network can be invaluable for expatriates and businesses with global operations.
  • Competitive Rates and Fees: Zenith Bank offers competitive exchange rates and reasonable fees for domiciliary account holders. This helps you maximize the value of your foreign currency transactions.

How much it cost to open a domiciliary account in zenith bank 

The cost of opening a domiciliary account in Zenith Bank can vary depending on the domiciliary account you choose and the specific fees associated with that account type. Generally, there are a few common fees and costs you may encounter when opening and maintaining a domiciliary account with Zenith Bank:

  • Account Opening Fee: Zenith Bank may charge an initial account opening fee. The exact amount can vary, so you should inquire about this fee when you visit the bank or contact them for information. This fee typically covers the administrative costs associated with setting up the account.
  • Minimum Deposit Requirement: To activate your domiciliary account, you will need to make an initial deposit in the foreign currency of your choice. The minimum deposit requirement can vary based on the type of domiciliary account you select. Zenith Bank offers different domiciliary account options, each with its minimum deposit requirement.
  • Account Maintenance Fees: Some domiciliary accounts may have maintenance fees, which are charged periodically. These fees are typically deducted from your account balance to cover the cost of account management and services. The specific amount and frequency of these fees can vary, so it’s essential to inquire about them when opening your account.
  • Transaction Fees: Zenith Bank may charge fees for specific transactions with your domiciliary account. For example, there might be charges for wire transfers, foreign currency exchange, or other services related to international transactions.
  • Currency Conversion Costs: When you engage in currency exchange transactions, such as converting one foreign currency to another or converting foreign currency to your local currency, currency conversion costs may be involved. These costs can vary based on prevailing exchange rates and any fees applied by the bank.

How to open a zenith bank domiciliary account  

  • Visit a Zenith Bank Branch: To open a domiciliary account with Zenith Bank, you need to visit your nearest Zenith Bank branch. Going to a physical branch is essential because this process typically cannot be completed online.
  • Request an Account Opening Form: Once you are at the branch, approach the customer service or banking hall and request an account opening form for a domiciliary account. The bank staff will provide you with the necessary application form.
  • Fill Out the Account Opening Form: Complete the account opening form accurately and legibly. You will be required to provide personal information, including your name, address, contact details, means of identification, and other details needed.
  • Provide Required Documentation: You will need to submit the following documents and information along with your completed account opening form:
  • Proof of Identity: A valid means of identification, such as your international passport, driver’s license, national identity card, or voter’s card.
  • Proof of Address: Documentation that proves your residential address, which can be utility bills, bank statements, or a letter from your employer.
  • Passport-Sized Photographs: Typically, you will need to provide two recent passport-sized photographs.
  • Initial Deposit: Make an initial deposit in the foreign currency of your choice. The minimum deposit requirement can vary based on your domiciliary account type.
  • Signature Mandate Card: Complete the signature mandate card with your specimen signature.

Types of zenith bank domiciliary account 

Zenith Bank offers several domiciliary accounts to cater to various customer needs and preferences. Each type of domiciliary account is designed to provide specific benefits and features. Here are some of the common types of Zenith Bank domiciliary accounts:

  • Individual Domiciliary Account: This type of account is designed for individual customers. It allows individuals to hold and transact in foreign currencies, making it suitable for personal savings, international transactions, and currency diversification.
  • Corporate Domiciliary Account: Zenith Bank offers accounts tailored for corporate customers, including businesses, organizations, and institutions. Corporate domiciliary accounts enable businesses to manage foreign currency transactions related to international trade, investments, and financial operations.
  • Domiciliary Current Account: A domiciliary current account is similar to a regular current account but denominated in foreign currencies. It allows account holders to conduct day-to-day financial activities in foreign currencies, such as making payments and receiving funds.
  • Domiciliary Savings Account: This type of account is designed for individuals who want to save and earn interest on foreign currency deposits. Domiciliary savings accounts may offer competitive interest rates on foreign currency balances.
  • Domiciliary Fixed Deposit Account: Zenith Bank provides domiciliary fixed deposit accounts for customers looking to earn higher interest rates on their foreign currency deposits. These accounts require account holders to deposit a specific amount for a fixed period, and they typically give higher interest rates than regular savings accounts.
  • Foreign Currency Dom Account: Zenith Bank offers domiciliary accounts in various foreign currencies, including but not limited to US Dollars (USD), Euros (EUR), British Pounds (GBP), and more. Customers can choose the currency that best suits their needs.
  • Diamond Plus Domiciliary Account: This is a premium domiciliary account offered by Zenith Bank. It provides additional benefits such as dedicated relationship management, priority access to banking services, and personalized financial solutions.
  • Children’s Domiciliary Account: Zenith Bank also offers domiciliary accounts designed specifically for children. These accounts help parents and guardians save in foreign currencies on behalf of their children, providing a valuable financial education opportunity.

Can I receive dollar in my zenith bank account?

You can receive U.S. dollars (USD) in your Zenith Bank domiciliary account. Zenith Bank domiciliary accounts are designed to facilitate the receipt and holding of foreign currencies, including U.S. dollars. Whether receiving funds from international clients or family members abroad or conducting foreign currency transactions, your Zenith Bank domiciliary account lets you securely receive and hold U.S. dollars and other foreign currencies.

How much does Zenith Bank dollar card cost?

The Zenith Bank dollar card costs $3. It is a prepaid card that allows you to spend your dollars in any country where Mastercard is accepted. You can load the card with dollars from your Zenith Bank domiciliary account or another bank’s foreign currency account.

How long does it take to create a Zenith Bank domiciliary account?

It takes approximately 24 hours to create a Zenith Bank domiciliary account. Once you have submitted the required documentation and made the minimum initial deposit, your account will be opened, and you can use it.


Zenith Bank domiciliary account is a versatile financial tool that empowers you to engage in international transactions, diversify your currency holdings, and tap into global investment opportunities. Whether you are looking to save in foreign currencies or a business seeking to expand internationally, a domiciliary account with Zenith Bank can provide you with the financial flexibility and convenience you need. It’s a wise decision for individuals looking to navigate the intricacies of the global financial environment with assurance.


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