How to Open a Domiciliary Account in Nigeria for Freelance Income

Key takeaways

• You open a domiciliary account at your bank with ID, BVN, a recent utility bill, a passport photo, an account form and, for current accounts, two references. Most banks still need a branch visit.
• Opening deposits are usually $0 to $100, depending on the bank and account type. Paystack says Zenith doesn't require a deposit for its merchants' USD accounts.
• A domiciliary account receives international wires (Swift), not US ACH payments. Wires can lose $30 to $70 in combined fees, according to Cleva.
• The CBN's June 2023 guidance gives account holders unrestricted access to wire-funded balances, and cash withdrawals of up to $10,000 a day are widely reported.
• Best setup for most freelancers: receive client payments in a fintech USD account, and use the domiciliary account for savings and large wires.

To open a domiciliary account in Nigeria, walk into your bank with your ID, BVN, utility bill, passport photo and two references, fill in the domiciliary form and make the opening deposit. It's easiest at a bank where you already have a naira account. Once it's open, your clients can wire dollars to it and you can hold them, withdraw cash or convert to naira when you choose.

Do you actually need a domiciliary account?

It depends on how your clients pay you.

A domiciliary account is a foreign currency account at a Nigerian bank, in US dollars, pounds or euros. It's good at two things: holding dollars safely in a regulated bank, and receiving large international wires.

What it can't do is receive US ACH payments. Upwork's cheaper withdrawal options, US clients paying by bank transfer, and most US payroll tools use ACH. Grey's comparison puts it plainly: domiciliary accounts don't have US ACH routing details, while virtual USD accounts do.

So for most freelancers, the answer is both:

• A fintech USD account (Raenest, Grey, Cleva) for receiving regular client and Upwork payments, often for a flat $1 to $2.
• A domiciliary account for keeping dollar savings and for clients who insist on sending an international wire.

Our guide to receiving USD in Nigeria compares the fintech options in detail.

What documents do you need?

Requirements vary slightly by bank, but GTBank's list is typical. For a domiciliary account, GTBank asks for:

1. A completed and signed domiciliary account opening form
2. A valid ID: driver's licence, international passport or national ID card
3. One passport photograph
4. Two completed reference forms
5. A utility bill issued within the last three months

You'll also need your BVN, and many banks now ask for your NIN too. Brands.ng's 2026 guide adds that some banks ask for a source-of-funds declaration on larger deposits. For a freelancer, that means invoices or contracts showing where the money comes from.

Tip: if you already bank with them, your KYC details are on file, and some banks waive the references for savings-type domiciliary accounts. Ask before you chase two referees.

How much do you need to open one?

Opening deposits are modest and vary by bank. Grey's September 2026 roundup lists:

Bank	Typical opening deposit
GTBank	$50
Fidelity Bank	$50
Zenith Bank	$100
First Bank	$100
Access Bank	$100
UBA	$100
Stanbic IBTC	$100
Sterling Bank	$0 to $100

These figures come from a fintech blog rather than the banks themselves, so confirm at your branch.

One useful detail: Paystack says Zenith Bank doesn't require a minimum deposit for USD accounts opened by Paystack merchants. It says some branches wrongly asked for $1,000, and Zenith's head office confirmed that isn't required. If you sell through Paystack, that's an easy route, and Paystack can settle your international card payments into a Zenith USD account through its USD settlement pilot.

How to open a domiciliary account, step by step

1. Pick your bank. Choose one where you already have a naira account. It's faster and the staff already have your KYC.
2. Download the form if you can. Brands.ng notes that GTBank and First Bank let you download the domiciliary form online, so you can fill it in before you go.
3. Get your references sorted if your bank needs them. Referees usually need current accounts, and some banks want them at the same bank.
4. Visit the branch with your original documents, the form and the opening deposit in dollars. Most traditional banks still don't open domiciliary accounts fully online.
5. Wait for approval. It can take a few days, according to Cleva and Grey.
6. Collect your wire details. Ask the bank's international or foreign operations desk for:
   • your domiciliary account number (different from your naira account number)
   • the bank's Swift code
   • the correspondent (intermediary) bank details for USD, if your bank uses them

Save these in a document you can paste into invoices. Getting one digit wrong on an international wire is a slow, expensive mistake.

How do clients pay into it?

Your client sends an international wire from their bank using your domiciliary account number, your name exactly as the bank has it, your bank's Swift code and, where needed, the correspondent bank.

Timing: NairaCompare puts a typical US-to-Nigeria wire at two to five business days. Monday to Wednesday sends avoid weekend delays.

Costs: this is where domiciliary accounts hurt for small payments.

• The client's US bank usually charges $25 to $50 to send a wire, according to NairaCompare.
• Intermediary banks can each take $5 to $15 along the way.
• Your Nigerian bank may deduct an incoming wire fee, from a few dollars to $20 or more.

Cleva, which sells an alternative to domiciliary accounts, puts the combined cost at $30 to $70 per transfer. On a $2,000 invoice that's tolerable. On a $200 one it's painful. If your client agrees, ask them to send with "OUR" charges, which means they cover the intermediary fees and you receive the full amount.

Upwork: Upwork can send a direct USD wire to your Nigerian bank, but it charges a flat fee per withdrawal. Raenest's guides for Ghana and Kenya put it at $50. Check the exact figure in your Upwork withdrawal settings. It only makes sense for large withdrawals.

Can you withdraw the dollars?

Yes. After years of shifting rules, the CBN's June 2023 guidance gave ordinary domiciliary account holders "unfettered and unrestricted access" to their funds, and allowed cash deposits subject to normal KYC checks. A daily limit of about $10,000 for cash withdrawals is widely reported, though the CBN's wording on this point is less clear.

In practice:

• Call ahead for large cash withdrawals. Branches don't always hold much dollar cash.
• Expect a small fee. Brands.ng reports about 0.05% at GTBank and 0.5% plus VAT at Access.
• Keep your invoices. Banks report foreign currency flows to the CBN and can ask about the purpose of large transactions.

The CBN's naira cash withdrawal limits from 1 January 2026 (₦500,000 a week for individuals) apply to naira accounts. We couldn't find anything saying they cover domiciliary accounts.

Domiciliary account vs fintech USD account

| |Domiciliary account | Fintech USD account (Raenest, Grey, Cleva) | |:--- | :--- | :--- | |Opening | Branch visit, references, a few days | In the app, often same day | |Opening deposit | $0 to $100 | $0 | |Receives US ACH | No | Yes | |Receives international wires | Yes | Varies by provider | |Cost to receive | $30 to $70 per wire, all-in | Often a flat $1 to $2 per ACH deposit | |Cash withdrawals in dollars | Yes | No | |Regulated as a Nigerian bank account | Yes | Provider-dependent | |Best for | Savings, large wires | Regular client and Upwork payments |

A sensible setup for most freelancers: receive in a fintech account, convert what you need for living costs, and move savings into your domiciliary account when it suits you. Check with your fintech provider whether it supports sending USD to a Nigerian domiciliary account and what it charges, because this varies.

Do you pay tax on it?

Yes. Freelance income is taxable in Nigeria wherever your clients are, and holding it in dollars doesn't change that. Keep invoices and statements from both your domiciliary and fintech accounts. Nigeria's tax rules have been changing, so speak to an accountant about how and where to file.

Quick checklist

• Naira account at the same bank (makes everything faster)
• ID, BVN and NIN
• Utility bill from the last three months
• Passport photo
• Two reference forms, if required
• Opening deposit in dollars
• Domiciliary account number, Swift code and correspondent bank details saved for invoices