Last Updated on February 6, 2023 by admin
The UBA Domiciliary Account is a type of account that enables Account holders to receive direct foreign currencies and pay for international transactions. This kind of account is funded with either Us dollars, British pounds and euros.depend on the type of Foreign currency account.
The United Bank of Africa Dom Account is useful when traveling or sending money to relatives abroad and also enables account holders to be paid in any foreign currency.
You could either open the UBA Freedom Savings Dom account with zero balance, Dom Advantage Account and UBA Kiddies Domiciliary Account depending on your purpose .
For the purpose of this Post we are going to discuss the type of UBA dom Account, requirements to open a dom account and how to fund it.
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Types of United Bank of Africa Domiciliary Account
There are three different Dom account offer by UBA in Nigeria, they are:
1.Freedom Dom Account
2.Dom Advantage Account
3.UBA Kiddies Domiciliary Account
1. Freedom Dom Account
This type of UBA domiciliary is a savings account that is designed to receive foreign remittances, with no limits, directly into your account. It doesn’t require any operating balance for the FSDOM account is zero (0) USD.
The only documentation required for UBA Freedom Dom Account is your BVN and does not allow the use of cards, Customers can only access their cash through in-branch cash withdrawals. But you need to upgrade your accounts as soon as it exceeds a debit turnover limit of $2,000.
The reasons why Freedom Dom Account is special, there is No withdrawal charges associated with this type of account, you can receive foreign currency and Telex inflows directly into your account.
Requirements to open Freedom Dom Account
To open Freedom Dom Account, you only need to submit your Bank Verification Number” BVN “as requirements
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2. Dom Advantage Account
The UBA Dom Advantage Account is either a current or savings domiciliary account that is denominated in foreign currency – US Dollar, Pound Sterling, EURO etc, but operated in Nigeria as a Domiciliary Account. The Minimum opening balance for this type of Dom account is $ 100, € 80 or ₤ 70 or its equivalent.
Requirements to open Dom Advantage Account
1. Valid Identification (International Passport, Driver’s License, National ID card, Voter’s card)
2. Two Passport photographs
3. UBA Kiddies Domiciliary Account
The UBA Kiddies Domiciliary Account is an FCY account denominated in USD, GBP, & EURO meant for parents who want to save for children’s secondary/tertiary education abroad
Fees/Charges
1.Withdrawals: 0.5% + VAT on amount withdrawn
2. Telex Transfer: 0.5% +VAT or US$10 or its equivalent whichever one is higher + Communication charge of US$25 or Euro 20 or £ 15
3. Draft request: 0.5% +VAT or US$10 or its equivalent whichever one is higher + communication charge of US$25 or Euro 20 or £ 15
Requirements for UBA Kiddies Domiciliary Account
1.Valid Identification of Parent/Guardian
2. Two Passport photographs of Child and Parent
3. Child’s birth certificate
4. Utility bill of the parent/guardian
BVN of the parent/guardian
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Requirements for Opening a Domiciliary Account in Nigeria
• Completed account opening form.
• Completed specimen signature card.
• Two recent passport photographs.
• Address verification document, such as a utility bill.
• Valid identification document, such as international passport, driver’s license, international drivers license or national ID card.
• Residence permit.
• Proof of address (stamped reference letter or a stamped bank confirmation that shows your address).
• A stamped reference letter or a stamped banker’s confirmation of your bank abroad.
• Two (2) reference forms from Nigerian current bank account holders.
• Marriage certificate (for joint account).
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How to receive money USD from abroad through UNITED BANK OF AFRICA
Remittance of funds from abroad should inform their bank as followed:
Please pay: United bank of Africa UBA
Swift code: UNAFNGLA
Through: CITIBANK NEW YORK United States
SWIFT CODE: CITIUS33
ROUTING NO: 0210000321
Account NO: 36320321
For further credit:
Beneficiary account number:……………………………
Beneficiary name:…………………………………….
Beneficiary Address:………………………………….
UBA Branch:…………………………………………..
(EUR TRANSFERS)
CITIBANK LONDON
HOW TO RECEIVE MONEY (EUR) FROM ABROAD THROUGH
UNITED BANK FOR AFRICA PLC, NIGERIA
Remitters of funds from abroad should inform their bankers as follows:
Please pay: UNITED BANK FOR AFRICA PLC, NIGERIA
SWIFT CODE: UNAFNGLA
Through : CITIBANK LONDON
SWIFT CODE: CITIGB2L
ACCOUNT NUMBER: 0013664082
SORT CODE : 185008
IBAN: GB29CITI18500813664082
FOR FURTHER
CREDIT:
Beneficiary account number ……………………………………………………
Beneficiary name……………………………………………………………………..
Beneficiary address…………………………………………………………………
UBA branch………………………………………………………………………………
Payment details……………………………………………………………………….
(GBP TRANSFERS)
CITIBANK LONDON,
UNITED KINGDOM
HOW TO RECEIVE MONEY (GBP) FROM ABROAD THROUGH
UNITED BANK FOR AFRICA PLC, NIGERIA
Remitters of funds from abroad should inform their bankers as follows:
Please pay: UNITED BANK FOR AFRICA PLC, NIGERIA
SWIFT CODE: UNAFNGLA
Through : CITIBANK LONDON
SWIFT CODE: CITIGB2L
ACCOUNT NUMBER: 0013664090
SORT CODE: 185008
IBAN: GB07CITI18500813664090
FOR FURTHER CREDIT:
Beneficiary account number ……………………………………………………
Beneficiary name……………………………………………………………………..
Beneficiary address…………………………………………………………………
UBA branch………………………………………………………………………………
Payment details………………………………………………………………………
Source: United bank of Africa
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