UBA Ghana offers foreign account services to individuals and corporate institutions. The dollar account is part of the UBA domiciliary account.
The Domiciliary Advantage Account is described as an account (savings or current) denominated in foreign currency – USD, GBP, EURO, CYN, CFA but operated in Ghana as Domiciliary Account.
Benefits of UBA Foreign Currency Account
Access to a unique FCY card linked to the Dom acct. Access to Visa Dual Currency Debit Cards (DCDC)
Check balances via U-Direct/Internet banking
Account can be used to settle payment for eligible transactions in foreign currencies, (Home remittances, school fees payment, Investments in securities and real Estate etc. )
Interest of 0.1% p.a. payable on account credit balance subject to a minimum balance of $1,000.00 or its equivalent.
DOM account balances can be used as collateral for Naira loans.
Features of the UBA Foreign Currency Account
You need a minimum opening balance of $100, or its equivalent in GBP, EURO, CYN or CFA
The account can be classified as either a Savings or Current Domiciliary Advantage account.
You can operate the account as Ordinary or Export Proceed Domiciliary account
Foreign cheques/instruments can be credited into the account
Requirements for a UBA Dollar Account
1 passport-sized photograph
A completed account opening form
Valid means of identification (either an Employers’ ID, Passport, National ID, Driver’s license or any other acceptable ID)
A utility bill not exceeding 3 months’ old
2 current account references
UBA Domiciliary Account holders can also enjoy internet banking services and secure transactions.
Digital dollar or Euro account is not a replacement for banknotes, but the process eliminates the paperwork and restrictions of bank accounts.
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.