Do you have a domiciliary account and you are wondering how you can transfer the money in the account to a naira account? Transferring money from a domiciliary account to a naira account is very simple and with the right direction, you can be able to go about the process on your own without any external help.
If you transact with foreign companies or individuals, using a domiciliary should be your best as they make the transaction process easy and seamless.
In this article, I will give you a detailed step of how to transfer money from your domiciliary account to a naira account. All you have to do is walk with us as we guide you through the process.
How To Transfer Money From A Domiciliary Account To Naira Account
If you want to transfer money from your domiciliary account to a naira account, there are some needed steps you would need to take for the transfer to be possible.
Here is how to transfer money from a domiciliary account to a naira account below:
- To make this a possibility, you would either have to talk to the bank manager or the bank customer care personnel, to help you with the transfer process. Most banks in Nigeria have their exchange and will purchase your dollars or other currencies at their fixed rate.
- They would have to take the money from your domiciliary account and would then credit your naira account with the amount agreed on and this would be based on their fixed exchange rate. Also, if you want the cash, they can pay you, depending on the agreement.
How To Withdraw Foreign Currency On Domiciliary Account
The easiest way to withdraw foreign currency from your domiciliary account is to visit the bank you opened the domiciliary account with and go to the customer service section to tell them what your need is. The customer service representative would guide you on what next to do.
In most cases, the bank would give you the cash you require; however, there are cases where a small branch might not have up to the amount you desire, so your next step is to opt for a bigger branch.
The bank would issue you the foreign currency depending on the type of domiciliary account you opened with them. If you opened a USD domiciliary account, you would be issued the money in dollars.
You can always choose to change the dollar note to your chosen currency in the Bureau De Change office near you.
How To Withdraw Money From Domiciliary Account Using An ATM Card
Another way you can also withdraw money from a domiciliary account in Nigeria is through your ATM card. Most banks give domiciliary account holders master cards, with this card they can withdraw money from ATMs and equally shop online.
Related: How To Block First Bank ATM Card
Conclusion
The process of transferring money from your domiciliary account to a naira account is quite simple; with the aid of the above-discussed method, you can easily run the transaction process without breaking a sweat.