This is a foreign currency account with minimal account opening documentation and can be opened in USD, EAURO, or GBP.
It is ideal for individuals who regularly receive international remittance, transfers from offshore accounts, or salary in foreign currency.
Account can be opened instantly at a branch or on ALAT to receive international remittance.
Ready to Open A Domiciliary Lite Account?
Start transacting in US dollars, Pounds, or euros from the comfort of your home
Features of A Domiciliary Lite Account
- Zero minimum opening and operating balance
- Maximum cash withdrawal limit of $2,000
- Withdrawal charge of 0.05% of transaction value but not more than $10 per transaction.
- No cash deposits allowed
- Access to USD Mastercard Debit Card for online dollar payments/subscriptions and withdrawal at ATMs abroad.
- Available for upgrade to Wema Domiciliary Plus with the provision of full KYC documents.
- Enables creation of investment in foreign currency through a fixed deposit or USD Goals on ALAT by Wema app.
Foreign currency cash withdrawal and transfers at any of our branches.
Account available for upgrade to Non-export Domiciliary account or Domiciliary Plus account to enable foreign currency cash deposit with provision of 2 suitable references and utility bill.
- Convenient channel for regular receipt of international remittance
- Secure and easy way to store funds and save in foreign currency
- No restriction on amount of inward transfers
Dom Lite Account Frequently Asked Question - FAQ
Dom Lite requires zero minimum opening and operating amount.
Account can be opened in a branch or via the ALAT App.
BVN, Passport photograph, and valid means of ID. These documents must also have been uploaded to your Alat account to open in-App.
Maximum cash withdrawal limit is $2,000
No, cash deposits are not allowed. You may however, upgrade to a Dom Plus account by providing 2 verifiable references and utility bill so you can make cash deposits.
You can fund your account through any of these means:
- Receipt of international funds transfer e.g. Western Union, Ria, etc. directly into the account by providing your Dom Lite account number at the pay outlet.
- Receipt of local foreign currency transfer.
- Receipt of international wire transfer from a foreign bank account.
A: Yes, a minimum cash withdrawal charge of 0.05% of the withdrawal amount applies.