Q How long does it take to get an NID Domiciliary account opened?
A Within 24 hours of receipt of complete account opening package
Q How will customers know all the details concerning their new account?
A They will be issued a Welcome Letter that has all these details once their account has been opened
Q In what currencies can an NID Domiciliary account be opened?
A NID Domiciliary account is available in US Dollars, British Pounds and Euro only
Q What is the minimum amount to open this account?
A $250 or it’s equivalent in other GBP and Euro
Q What is the credit interest payable on this account?
A 0.5% higher than that of regular domiciliary account
Q What are the charges on this account?
A Cash withdrawal charge of 1% of the amount withdrawn,
Wire transfer charge of 1% of the amount transferred plus SWIFT charge /($26,£16, €26)
Q Can someone operate the account on my behalf?
A Yes, you can appoint as a Resident Signatory to operate the account on your behalf in
Nigeria.
Q Do I get a cheque book with this account?
A Yes. A Domiciliary account cheque book is available
Q Am I able to view my statements online?
A Yes
Q How old do you have to be to open an account?
A 18 years for NID Bank Accounts
Q What number do I call for bank account assistance?
A +234 1 7755326 for NID Bank accounts
Q How long will it take to receive my Oceanic Bank new account confirmation?
A Within 24 hours of opening the account for NID. You will be issued a Welcome
Letter that has all these details once your account has been opened
Q Whom do I call with questions about opening an account?
A Send e-mail to nid@oceanicbank.com or call +234 1 7755326
Q When can I start using my new account?
A As soon as it is opened
Q Does this account require a minimum balance?
A Yes. A minimum operating balance of $100 or it’s equivalent in GBP or Euro
Q Does this account allow third party withdrawal?
A Yes it does
Q Does this account have funds transfer facility?
A Yes
Q Do I get access to credit facilities with this account?
A No
Q Can I convert funds from my domiciliary account to Naira, and at what rate?
A Yes, you can. The applicable rate will be the prevailing CBN/Treasury Rate
on the day of the transaction
Q How can I have access to funds in my domiciliary account from my base
outside Nigeria?
A You can use your Oceanic MasterCard at ATM or POS machines at your end
or you can instruct us to transfer funds back to you from your account via
SWIFT
Q What minimum documentation requirements do I need to open an NID Domiciliary Account?
A
1. Properly completed Account Opening Form.
2. Recent Passport Photograph
3. Attested copy of valid proof of identification– International Passport or other supporting IDs like Residence Permit, Work Permit or Driver’s License.
4. Attested copy of proof of source of funds- Any of the following is acceptable- Employer’s reference, Letter of employment, Work ID, Recent pay-slip, Evidence of business registration, Business Bank statements or Banker’s Business reference.
5. Attested copy of proof of address. Any of the following is acceptable - Current Utility bill (not exceeding past 2 months), last 3 months Bank statement, or copy of any letter received within the last 3 months from existing Banker.
6. Attestation of photocopies of attached documents (3 to 5) by a Notary Public, Nigerian
Embassy, Current Banker or an authorized staff of Oceanic Bank. An Attesting Officer should state his/her full name, contact address, contact phone number and email address.
Q What minimum documentation requirements do I need to meet to do a
telegraphic transfer as an account holder?
A This is a function of the purpose of the transfer and subject to CBN’s
documentary requirements
Q What do I do to reactive my dormant account?
A Complete an Account Reactivation form and submit it to your branch
Q How can I fund my account?
A By any of the following means:
i. Local cash and cheque deposits
ii. Transfer from a Bank account in Nigeria
iii. Cash transfer through Western Union Money Transfer to a named beneficiary for lodgment into account
iv. Wire Transfers from your accounts abroad through our Correspondent Banks; Cal +234 1 7755326 for details
