5 Reasons You Need a Domiciliary Account

I never really understand the importance of having a domiciliary account until i carefully make some findings on the benefit of using this account. A domiciliary account is a tool especially to Online workers, Earner and the Work from Home as a means of Transferring money or receiving money in foreign currency. What is a Domiciliary Account It is an account that receives only foreign currency e.g. USD or Pounds Sterling. It is through this account that you transfer money to your broker abroad, also you can make withdrawals. Domiciliary account is a special type of account in foreign currency such as UK pounds opened in a home bank that allows you to make international bulk See Also , How to Get a US Bank Account for Free Condition for Having a Domiciliary Account You must have: 1. A current account with the bank; 2. operated the account for 6 months 3.at least $50 or more as minimum deposit please confirm from your Bank because different bank has different requirement to g