Finance and Investment

FBN Bank Dollar Account – How To Get One

The dollar account is part of the FBN Bank foreign account services. The foreign account allows you save in US Dollar, Pound Sterling or Euro; with your money valued at the prevailing exchange rate.

You can use the account to facilitate your international personal and business transactions.

The FBN foreign account is opened to individuals aged 18 and above, SMEs and corporate organizations.

Why you need FBN Bank foreign account

  • No minimum balance
  • No limit to number of withdrawals in a month
  • Guaranteed FCY deposit
  • No restrictions on number of withdrawals in a month
  • Inter branch withdrawal (account holder only) allowed

Requirements for FBN Bank foreign account

Follow the criteria below to open an FBN Bank foreign account;

  • Duly completed Account Opening Form
  • Minimum opening balance of $100, £100, €100
  • Duly completed specimen signature card
  • One (1) recent passport photographs
  • Proof of address; Utility Bill
  • Valid National Photo ID 
  • Complete FBN Bank account opening form

How to apply to open the Domiciliary Account

You can also create a secure digital USD and Euro account for free on blockchain. The accounts can be used for transfers and payments, just like USD/Euro accounts with traditional banks.

Digital dollar or Euro account is not a replacement for banknotes, but the process eliminates the paperwork and restrictions when opening a bank account.

The US Dollar Coin (USDC) and Celo Euro are stablecoins that are pegged to the USD and Euro; thus, a $1 or €1 of value is redeemable on a 1:1 basis for the USD or EURO.

Unlike most foreign currency accounts with banks, Digital dollar and Euro accounts bear interests. USDC gives you an interest of 11% per year while you earn 4% on Celo Euro.

FAQ on FBN Bank foreign account

In what currencies can the account be opened?

  • US Dollars, Pound Sterling and Euro.

Can I make transactions on my account from any FBN Bank branch?

  • Yes, you can.

Is there a restriction to number of withdrawals?

  • There are no restrictions to number of withdrawals.

How can I open this account?

  • Simply visit any FBN Bank branch near you.

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