This foreign currency deposit account is targeted at existing and potential domiciliary customers with balances of $5,000 and above. It offers attractive interest rates and highly reduced transfer charges.
Why Choose this Account?
- Account is operated with a specialized non-clearing cheque book
- Foreign draft issuance is allowed on the account
- No charges on over-the-counter cash withdrawals
- Transfer charges on account as low as 0.25% flat
Who Can Apply?
- Individuals and corporates.
What Documents do I Need?
- Individual Account Opening Form
- Completed Specimen Signature card
- Two recent passport photographs
- Valid means of identification e.g. International Passport , Driver’s License or National I.D. Card (Original to be sighted)
- Utility Bill, e.g. NEPA, NITEL Bill, etc
1) Is First Dom Plus the same thing as your Domiciliary Account?
- They are two different accounts with different features and benefits.
2) How much do I need to open this account?
- The minimum opening/operating balance for this account in 3 major currencies are: $5,000.00; €5, 000.00; £3, 000.00
3) What is the interest rate applicable on First Dom Plus Account?
- Applicable interest rates are based on deposit buckets as follows:
$5,000 – $9,999 at 0.50% per annum
$10,000 – $49,999 at 0.75% per annum
$50,000 – $99,999 at 1.00% per annum
$100,000 – Above at 2.00% per annum
4) Can I migrate my existing domiciliary account to FirstDom Plus Account?
- Yes you can, as long as you are able to increase your existing balance to the minimum opening balance.
5) Will I still retain my account number when I migrate to the FirstDom Plus Account?
- Your account number will be changed because the two products are different
6) Who is eligible to open FirstDom Plus account?
- Individuals and corporate organisations
7) How can I open this account?
- Simply visit any FirstBank branch nearest to you.
8) Apart from the higher interest paid on this account, are there other benefits available when I open this account?
- Yes. Any cash withdrawal on the account is free of charge.
Withdrawals from any FirstBank branch are allowed.
Account holders with balances $30,000 and above pay ≤ 0.25% transfer charges.