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July 29, 2014
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Foreign Currency Domiciliary Account

Domiciliary accounts are accounts maintained in currencies other than the Nigerian Naira and operated only in the Foreign currency as either Export Proceed or Ordinary Domiciliary accounts.

Features

  • Minimum opening & operating balance of $100, £100 or €100.
  • Account is operated only in foreign currency i.e. Dollar, Pound sterling or Euro
  • Account operated as Export Proceed Dom account or Ordinary Dom Account.
  • Cheque and cash withdrawals subject to 0.5% charge

Benefits

  • Check book issued for the account
  • Interest payable on FCDA account credit balance subject account balance of $1,000 or its equivalent.
  • Access to UBA Master card or Visa Card.
  • Access to U - Direct to view credit balance

Target Audience

  • Nigerian citizens
  • Companies registered in Nigeria
  • Foreign nationals
  • Foreign companies
  • Embassies
  • High commissions and diplomatic missions operating in Nigeria.

Application Requirements

  • Completed account opening package.
  • 2 passport photographs
  • Valid means of identification e.g. International Passport, Driver’s Licence, National identity card with another card that capture signature.
  • Residence permit (for foreign nationals)
  • Presentation of Nigeria Export Promotion Council (NEPC) certificate for customers opening Export Proceed Domiciliary accounts only.
  • Copy of Utility bill not exceeding 3 months old.