A Domiciliary Account is a type of account known to accept foreign currencies and not Naira and while you can have full control of the account in Nigeria, getting funds inside it is always a question most people usually ask.
Well, you can get funds inside your domiciliary account if someone outside the country sends you money, but what if no one is sending you money and you need money in your domiciliary account? Well, there’s a way you can do that and I’ll be showing you how here on NaijaKnowHow.
In this article, you’ll learn how to fund your domiciliary account in Nigeria. Before going too deep with this article, I feel you might be interested in knowing the Best Domiciliary Account in Nigeria, just in case you’ll like to switch banks, and you can also learn How To Open A Domiciliary Account In Nigeria if someone you know doesn’t have one.
How to Fund Your Domiciliary Account in Nigeria
One of the benefits of having a domiciliary account in Nigeria is the fact that you won’t be affected by the under $20 monthly spending limit that has been inflicted on normal Naira Debit Accounts and it also allows you to earn more and also allows you to purchase anywhere online with your dom card.
You can have a domiciliary account in commercial banks and some digital banking apps will let you open a virtual domiciliary account and also give you a Virtual Dollar Card to use online, you’ll still have to go through the same process of funding your commercial and digital domiciliary account, but here’s how to get it funded.
Steps to Fund Your Domiciliary Account In Nigeria
Below are the following ways you can fund your domiciliary account in Nigeria. The first method is pretty simple and it’ll involve you having physical cash at your disposal.
Funding your domiciliary account with physical cash:
- You’ll need to have the total amount of funds you want to send into your domiciliary account ready, you should check your bank dollar exchange rate in order to get the total amount of cash you want in your account.
- Now walk into one of the branches of the bank you opened your domiciliary account, then pick up a deposit slip and fill in the details of your domiciliary account and the total amount you want to send in.
- Now walk to the counter with your deposit slip and cash, the money will be sent and converted to USD into your domiciliary account.
Funding your domiciliary account with Western Union etc:
This is the method most people use in funding their domiciliary account and this involves Western Union, MoneyGram or WorldRemit. Some details will be required for submission before you can receive money inside your domiciliary account.
Note: To fund your domiciliary account in Nigeria via MoneyGram, Western Union and WorldRemit, you’ll need to have the following details at hand:
- Your Beneficiary Name
- Your Beneficiary Account Number
- Your Beneficiary Bank Name
- Bank Swift Code
Funding your domiciliary account is very easy with the methods we’ve provided above, hopefully, you find it helpful. When funding your dom account from outside the country always make sure you have all the accurate information about your account and your bank name.
More On Mobile Banking:
- How to Block or Deactivate Bank USSD Code in Nigeria
- List of All Bank USSD Codes in Nigeria (Mobile Banking)
- How to Check Bank Account Balance in Nigeria (Codes)
If I’m using western union or MoneyGram to fund my domiciliary account how much will I spend all together please sir answer this question.
Good day sir. Do you mean I can fund my Nigerian Domiciliary account with Naira (in cash) and then, it will be converted and deposited into my Domiciliary account?
i was told that you can only pay into your Dom account only with you buying usd in black market and deposit it in bank
Please sir can I find my Domiciliary account online with naira,than going to bank?
No, you can’t.