How To Open First City Monument Bank (FCMB) Domiciliary Account



What Is First City Monument Bank Domiciliary Account?

This is an account that allows you save in US Dollars, Pounds Sterling or Euro; with your money valued at the prevailing exchange rate. It facilitates your international business transactionsDomiciliary Account

This is an account that allows you save in US Dollars, Pounds Sterling or Euro; with your money valued at the prevailing exchange rate. It facilitates your international business transactions..

Types Of First City Monument Bank (FCMB) Domiciliary Account. 

1. DOMICILIARY SAVINGS ACCOUNT

2. DOMICILIARY CURRENT ACCOUNT

3. DOMICILIARY BUSINESS CURRENT ACCOUNT

4. FOREIGN CURRENCY DOMICILIARY ACCOUNT

 

DOMICILIARY SAVINGS ACCOUNT

Domiciliary Savings Account

It’s A foreign currency account with lower operating limits, for those who want to start saving in FX and salary

The Domiciliary account is designed to help develop savings habits in foreign currency for those customers who regularly receive or need to make payments in British Pound Sterling (GBP), the United States Dollar (USD) and European Euro.

WHAT ARE THE BENEFITS OF HAVING A FIRST CITY MONUMENT BANK (FCMB) DOMICILIARY SAVINGS ACCOUNT. 

  1. Opening balance of 10 GBP, 10 USD, 10 EUROS
  2. Interest bearing account but forfeited once there are more than 3 withdrawals in a month.
  3. A serialized non-clearing cheque-type withdrawal booklet used for withdrawal by account holder only.
  4. Allows for Foreign Currency Salary payments and cash lodgement.
  5. Account can be operated either as an individual or a joint account
  6. NO charge on cash withdrawal.
  7. Offers Issuance of foreign currency denominated drafts
  8. Free E-mail transaction notifications
  9. Free monthly electronic statements

 

WHAT ARE THE REQUIREMENTS FOR OPENING A FIRST MONUMENT BANK (FCBM) DOMICILIARY SAVINGS ACCOUNT?

In order to open a Domiciliary Savings Account,

  1. Completed account opening form
  2. 1 passport photograph
  3. Minimum of 18 years-old and provide the following:
  4. International passport or Driver’s License or National ID card or Voters Card or Resident Permit (for immigrants)
  5. Address verification e.g. Utility bill, recent bank statement or local authority tax bill etc.

How To Fund Your Account

 

DOMICILIARY CURRENT ACCOUNT

Domiciliary Current Account

The FCMB Domiciliary current account allows customers to maintain account in foreign currencies. It is designed to enable customers conveniently carry out foreign currency transactions irrespective of where they are.

The features and benefits of Domicilliary Current Account include:

  1. A low open balance of 60 GBP, 100 USD, 70 EURO
  2. There is no minimum operating balance
  3. Personalized non clearing Cheque book for over the counters withdrawals
  4. Access to internet banking
  5. No limit on the frequency of monthly withdrawals
  6. No account maintenance charge
  7. Interest of 0.05% p.a for $4,000
  8. No losses from verse movements in exchange rates

WHAT ARE THE REQUIREMENTS FOR OPENING A FIRST MONUMENT BANK (FCBM) DOMICILIARY SAVINGS ACCOUNT?

In order to open a Domiciliary Savings Account,

  1. Completed account opening form
  2. 1 passport photograph
  3. Minimum of 18 years-old and provide the following:
  4. International passport or Driver’s License or National ID card or Voters Card or Resident Permit (for immigrants)
  5. Address verification e.g. Utility bill, recent bank statement or local authority tax bill etc.

 

DOMICILIARY BUSINESS CURRENT AACCOUN

Domiciliary Business Current Account

For international or foreign-currency denominated transactions, the Business Domiciliary Current Account is your best option.

Our Domiciliary Account is designed to help you conveniently carry out foreign currency transactions. This account can be funded in Dollars, Pounds or Euro through foreign currency cheque and or cash lodgments and online transfers

  • Minimum opening balance of $100 or €100 or £100
  • Competitive Interest payment on daily operating balance of $10,000 and above (or its equivalent in € & £)
  • Interest payment is payable monthly
  • Foreign currency cheque lodgment

 

WHAT ARE THE REQUIREMENTS FOR OPENING A FIRST MONUMENT BANK (FCBM) DOMICILIARY CURRENT BUSINESS  ACCOUNT?

In order to open a Domiciliary Savings Account,

  1. Completed account opening form
  2. 1 passport photograph
  3. Minimum of 18 years-old and provide the following:
  4. International passport or Driver’s License or National ID card or Voters Card or Resident Permit (for immigrants)
  5. Address verification e.g. Utility bill, recent bank statement or local authority tax bill etc.

 

FOREIGN CURRENCY DOMICILIARY ACCOUNT

Domiciliary Foreign Currency Account

The Foreign Currency Accounts are an array of Foreign Currency denominated accounts with benefits such as currency flexibility, convenience and ease in account operations. The product array is comprised of a Foreign Currency Savings, Current and Fixed Deposit Account. The Foreign Currency Accounts totally protect you from exchange rate fluctuations and offer you very attractive interest rates on your funds.

WHAT ARE THE BENEFITS OF HAVING A FOREIGN CURRENCY DOMICILIARY ACCOUNT

  • The Foreign Currency accounts are available in three convertible currencies: United States Dollar (USD), Great Britain Pounds Sterling (GBP) and European Euro (EUR).
  • Relatively low account opening balance of
  1. Savings: USD10.00 or its equivalent in other currencies
  2. Current: USD100.00 or its equivalent in other currencies
  3. Fixed Deposit: USD5,000.00 or its equivalent in other currencies
  • No minimum operating balance is required to operate the Foreign Currency Accounts.
  • Offers attractive interest rate payments
  • Flexibility to exchange foreign currencies and to transfer or move funds easily from your Foreign Currency account to your Naira accounts.
  • Allows for Foreign Currency Salary payments and the lodgement of Foreign Currency clearing instruments and Traveler’s Cheques for clearing.
  • No charges for cash withdrawals from the Foreign Currency Savings Account
  • Offers foreign currency telegraphic Inbound and Outbound transfers, and the Issuance of foreign currency denominated drafts on the current account variant.
  • Only outbound transfers are allowed on the Foreign Currency Savings Account.
  • Attractive fixed deposit rates for 30, 60, 90, 180 and 360-day Foreign Currency Fixed deposits.
  • On the Fixed Deposit Accounts, there are no penal charge for premature liquidation after 30 days, however, the applicable rate will be based on the duration of the foreign currency deposit.
  • FCMB Pre-Funded MasterCard Credit Card which can be used on all ATMs, POS terminals and Web Merchants with the MasterCard logo. The FCMB pre-funded MasterCard offers you:
  1. International access to funds
  2. Ease and convenience in Foreign Currency payments
  3. Allows you carry your special moments with you
  4. Embedded with a passport Picture for enhanced security
  5. Helps you control your foreign currency spend
  • Offers the option of a personalised Cheque-Book in either USD, GBP or Euro, for Over-The-Counter and third party foreign Currency transactions, at a minimal cost.
  • Account can be operated either as an individual or a joint account.

Who can benefit from the Foreign Currency Accounts?

  • Individuals who want to hedge against adverse fluctuations in exchange rates and minimize the exchange risk.
  • Individuals with funds in foreign currency who desire to earn competitive interest payments and require the flexibility for withdrawals at will, without a penal charge.
  • Individuals who require the ease and flexibility to cross currencies between the USD, GBP and Euro.
  • Expatriates with residence or work permit that earn in Foreign Currency and require the flexibility and convenience to save, transfer or transact on their funds.

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