Whether you’re a frequent international traveler or engaged in foreign transactions, opening a GTBank domiciliary account offers you the convenience of managing foreign currencies.
The GTBank Domiciliary Account allows individuals to hold funds in currencies such as US dollars, Euros, and British pounds, providing flexibility for international transactions.
Account holders can fund their domiciliary accounts through methods like traveler’s cheques, foreign currency cheque lodgments, cash inflows, and deposits.
These accounts support various transactions, including cash withdrawals, transfers, and payments to foreign suppliers.
GTBank offers both savings and current domiciliary account options, each tailored to different needs, such as personal use or business transactions.
How does a GTB domiciliary account work?
The Guaranty Trust Bank Domiciliary Account allows account holders to save, withdraw and transact money in foreign currencies. It supports transactions through cash deposits and FX inflows.
Types of GTBank Domiciliary Account
Guaranty Trust Bank (GTBank) provides two main types of domiciliary accounts:
1. GTB Savings Dom Account
- Suited for personal use.
- Allows individuals to save in foreign currencies.
- Permits easy withdrawals through a bank teller.
2. GTB Current Dom Account
- Designed for business use.
- Functions similarly to a typical current account.
- Provides check-writing capabilities.
These two types of accounts enable GTBank customers to manage foreign currencies, conduct transactions, and enjoy the convenience of holding funds in different currencies based on their financial needs and preferences.
How to Open Domiciliary Account with GTBank
To open a domiciliary account with Guaranty Trust Bank (GTBank), follow these steps:
1. Visit the nearest GTBank branch in your area.
2. Go to the customer service section and inform the agent of your intention to open a GTBank Domiciliary account.
3. Fill out the account opening form the will give you.
4. While filling the form, specify your preferred currency (USD, GBP, EUR, etc.) on the form.
5. Indicate whether you prefer email delivery or SMS for transaction alerts.
6. Get referees to fill out reference forms.
7. Obtain signatures from two referees who are current account holders.
8. Provide the completed forms, utility bill, passport photo, and a copy of your identification document (Driver’s License, International passport, National ID Card, or any other acceptable by the bank).
9. If you prefer an online application, fill it out, but be prepared to visit a physical GTBank location for verification.
10. Pay any required opening deposit (if applicable).
11. Submit all required documents to the assigned agent to initiate the registration process.
12. Typically, you’ll receive your account number(s) within 48 to 72 hours after submission.
Additional Tips
- Ensure referees are easily reachable and hold a GTBank current account.
- Consider applying for a GTBank Dollar Card for additional benefits.
What is the Benefit of a GTBank Domiciliary Account?
Several advantages come with opening a GTBank domiciliary account:
- It maintain balances in various foreign currencies.
- Seamlessly utilize cash deposits and inflows to finance the account.
- Conduct various transactions, including withdrawals, transfers, and payments to foreign vendors.
- Obtain a checkbook linked to your domiciliary account upon request.
Documents needed for opening Domiciliary
To initiate the process, ensure you have the following:
1. Filled and signed Domiciliary Account opening form.
2. Copy of identification document (Driver’s License, International passport, National ID Card, or any other acceptable by the bank).
3. One passport photograph.
4. Two completed reference forms.
5. Utility bill issued within the last 3 months.
GTBank Domiciliary Account Charges and Monthly Limitations
- Free, with an opening deposit requirement.
- Monthly Withdrawal Limit is $1,000.
- Transfer Limits: Daily and weekly limits set at $10,000 and $50,000.
- Spending Limits for POS and WEB: No limits with a GTBank Dollar Card.
- Transfer Fees: 1% of the transferred amount plus a flat charge of 4,000 Naira.
- Minimum Balance: No minimum balance requirement.
FAQs
How do I withdraw from the Gtb Domiciliary Account?
Complete a foreign currency withdrawal sheet at the nearest GTBank branch.
How to Transfer from a GTB Domiciliary Account?
Use GTB online banking system with associated fees.
How Do I Check My GTB Domiciliary Account Balance?
Access through Internet Banking, GTWorld app, IVR, or USSD.
What Is the Limit for Gtb Domiciliary Account?
Cash deposits up to $10,000 per day or equivalent through telegraphic transfer.