How To Open A Wema Domiciliary Account

Opening a Wema Domiciliary Account is a simple process that can be done either by visiting a Wema Bank branch or by using the Alat App by Wema.

A Domiciliary account is a type of foreign currency account that allows you to receive, hold and make payments in foreign currencies. This can be beneficial for those who frequently travel abroad, engage in international trade, or receive foreign currency payments.

In this article, we will provide a detailed guide on how to open a Wema Domiciliary account, including the requirements and the steps involved in the process.

Requirements

Before opening a Wema Domiciliary account, you will need to meet certain requirements. These include:

• A valid government-issued ID (e.g. National ID, Driver’s License, or Passport)
• A proof of residence (e.g. utility bill or lease agreement)
• A minimum deposit of $50 or its equivalent in the desired foreign currency

It’s important to note that additional documentation may be required depending on the type of account you are opening and your specific circumstances.

Opening an account through a Wema Bank Branch

To open a Wema Domiciliary account by visiting a Wema Bank branch, you will need to follow these steps:

1. Gather the required documents: Collect all of the necessary documents, including your government-issued ID, proof of residence, and minimum deposit.
2. Visit a Wema Bank branch: Go to your nearest Wema Bank branch and speak to a customer service representative about opening a Domiciliary account.
3. Complete the application form: The customer service representative will provide you with an application form to fill out. Make sure to fill it out accurately and completely.
4. Submit the application form and required documents: Once you have completed the application form, submit it along with the required documents to the customer service representative. They will review your application and make sure that all of the necessary documents are included.

5. Wait for account activation: After your application has been reviewed and accepted, you will need to wait for your account to be activated. This process can take up to 2-3 business days.
6. Receive account details: Once your account has been activated, you will receive your account number and other account details.
7. Make an initial deposit: To activate your account you will be required to make an initial deposit of $50 or its equivalent in the desired foreign currency.

Opening an account through the Alat App by Wema

To open a Wema Domiciliary account using the Alat App by Wema, you will need to follow these steps:

1. Download the Alat App by Wema: Go to the Google Play Store or Apple App Store and download the Alat App by Wema.
2. Create an account: Once you have downloaded the app, create an account by providing your personal and contact details.
3. Select the “Domiciliary account” option: Once you have created an account, select the “Domiciliary account” option from the menu.
4. Fill out the application form: Fill out the application form with your personal and business details, including your name, email address, phone number, and business name.
5. Submit the form: Once you have filled in the form, submit it by clicking on the “Apply” button.
6. Wait for account activation: After your application has been reviewed and accepted, you will need to wait for your account to be activated. This process can take up to 2-3 business days.
7. Receive account details: Once your account has been activated, you will receive your account number and other account details.
8. Make an initial deposit: To activate your account you will be required to make an initial deposit of $50 or its equivalent in the desired foreign currency through the app.

Conclusion

Opening a Wema Domiciliary account is a simple process that can be done either by visiting a Wema Bank branch or by using the Alat App by Wema.

By following the steps outlined in this guide, you can easily open a Wema Domiciliary account, meet the requirements, and start receiving and making payments in foreign currencies.

With a Wema Domiciliary account, you can easily manage your international transactions and take advantage of the benefits that it offers.