A GTBank domiciliary account is a foreign currency bank account. It can also be called a dorm account. Guaranteed Trust Bank domiciliary account is one of the best dorm account service in Nigeria.
The GTBank domiciliary account is in three denominations; the pound, dollar, and Euro based dorm accounts. The currency type given to you is based on what you chose while filling the application form.
A dorm account allows you to receive payments from foreign clients or customers. Nigerian Bloggers use it to receive payments from Google.
The dorm account is useful to customers who travel regularly overseas. You can withdraw without fear of the $100 monthly limit set by the central bank of Nigeria.
In this article, you will see the requirements to open a GTBank domiciliary account and how to open the account.
Requirements for Opening a GTBank Domiciliary account
Below are all the things you need to open a dorm account with Guaranteed Trust Bank Nigeria;
- A valid Identity card. GTBank accepts any of the following forms of identification;
- The Nigerian National Identity card.
- The old National ID card (must be valid).
- A valid driver’s license.
- A permanent voters card.
- An international passport.
- Utility bill of at least 3 months old. The bank uses this to confirm your home address. Guaranteed trust bank accepts the following utility bills;
- phone bill.
- waste management bill.
- electricity bill.
- water co-operation bill.
- A passport photograph. A passport photograph of you is required. Any color background is acceptable.
- Two Referees. You need two referees to stand as a surety for you. These two referees must own current accounts of not less than 6 months in Nigeria. Referees from any bank could stand for you but referees from GTBank will be better.
In the process of opening the account, your two referees will fill a form and sign. The bank will call your two referees to confirm if they know you and really filled the document for you.
Now, if your referees are from another Bank, GTBank will call their banks to confirm if their accounts have lasted for up to six months. This process usually takes time since it involves communicating with a different bank.
Hence, if your two referees accounts are from GTBank, the bank will only call your referees to confirm of they know you and fill the form. They will log into their database to see how long the account has lasted. This is something they can confirm within 5 minutes unlike when communicating with another bank.
How to Open a GTBank Domiciliary account
Visit any branch of GTBank and pick up the dorm account opening form. Fill it correctly. Give your two referees to also fill their own part. Submit the form to the bank with the requirements stated above.
The GTBank Domiciliary account is free to open and you can withdraw all the funds in the account at any time.
GTBank will charge you when you transfer from your dorm account to another GTBank dorm account. They will also charge you when you do interbank FX transactions.