Diaspora Banking
This is a specialised offering for Nigerians living abroad. It allows them to send money back home to relatives, manage finances in Nigeria, save to buy a home, invest in local denominated wealth instruments, and execute projects amongst other things.
Some of our benefits
Ease
Transact seamlessly at all times using our robust digital banking channels
Investment
Save and invest in various investments opportunities offered by Stanbic IBTC Holdings
Accessibility
Manage finances and business in Nigeria from abroad
Remittance
Send money back home to family and friends with ease
What you get
- Interest on Diaspora Naira Savings account: 8.025%; Interest on Diaspora Naira Max-yield Savings account: 8.525%
- Access to Mobile and Internet Banking services
- Card Services: Debit Cards, Cash-backed Credit cards, Prepaid Cards for Withdrawals, Web payments and POS purchases.
- Financial Advisory on solutions and services offered by Stanbic IBTC Holdings
- A team of highly skilled and dedicated transactional bankers
- Personal Loans, Home loans, Mortgage, Equity release, Property purchase
- Short term and Long-Term Investments with High Yielding returns: Bonds, Treasury bills, Fixed Deposits, Dollar Investments and more.
- Trusts, Wills, Estates, Stocks, Insurance Products
- Accounts denominated currencies like NGN, USD, GBP, EUR, and more
- Domiciliary Transfers, Telegraphic Transfers, Outward remittances, Form A applications
What it costs
- Zero account opening balance for Savings Accounts
- Account Maintenance Fee for current NGN accounts is charged at 0.001%
- Debit card issuance fee : ₦1,075
- Telegraphic transfers and outward remittances. Charges are broken down below:
- Commission : 0.5% of principal
- VAT : 7.5% of commission
- Telex : ₦4,000 (or its equivalent in currency of transfer)
- SMS alert fee : ₦3.76 for every notification received for transactions done
What to provide
- Must provide a valid Nigerian government issued ID
- Passport photograph (a recent passport photograph)
- Means of Identification - Any ONE of options A or B stated below will suffice:
A. Nigerian ID card (ANY of the below will suffice):
- NIMC ID/NIN Slip
- NIN (number)/NIN slip + Valid Nigerian International passport
B. NIN/NIN slip + Foreign ID card (ANY of the below will suffice if Nigerian passport is expired, NIN (number) is available, but NIN slip is not available):
- Valid Notarized Foreign International Passport
- Valid Notarized Foreign Drivers’ License
- Proof of Address:
- Notarized Utility bill issued within the last three months for the address stated on the account opening form.
- Bank or Credit Card statement issued within the last three months showing customer address (stamped or notarized).
- Notarized Foreign Drivers’ License or Foreign Resident permit or Work permit showing the customer’s current address.
- Reference letter or a stamped Banker's Confirmation obtained from customer’s bank abroad that states current address (stamped or notarized).
- References– For Current and or Domiciliary accounts :
- Two completed reference forms from Current account holders (Nigerian) with any Nigerian Bank.
- Notarization or Attestation of valid ID and proof of foreign address only should be done at any of the following authorities with designation and contact indicated:
- Nigerian Embassy or High Commission or Consulate
- Lawyer or Solicitor
- Court
- Police Station
- Commissioner of Oaths
- Public Library or Post Office
- Notary public
You can visit any of our branches if you are in Nigeria or
- call our customer care team on 0201 422 4444
- or email [email protected]
-
What you get
-
What it costs
-
What to provide
- Interest on Diaspora Naira Savings account: 8.025%; Interest on Diaspora Naira Max-yield Savings account: 8.525%
- Access to Mobile and Internet Banking services
- Card Services: Debit Cards, Cash-backed Credit cards, Prepaid Cards for Withdrawals, Web payments and POS purchases.
- Financial Advisory on solutions and services offered by Stanbic IBTC Holdings
- A team of highly skilled and dedicated transactional bankers
- Personal Loans, Home loans, Mortgage, Equity release, Property purchase
- Short term and Long-Term Investments with High Yielding returns: Bonds, Treasury bills, Fixed Deposits, Dollar Investments and more.
- Trusts, Wills, Estates, Stocks, Insurance Products
- Accounts denominated currencies like NGN, USD, GBP, EUR, and more
- Domiciliary Transfers, Telegraphic Transfers, Outward remittances, Form A applications
- Zero account opening balance for Savings Accounts
- Account Maintenance Fee for current NGN accounts is charged at 0.001%
- Debit card issuance fee : ₦1,075
- Telegraphic transfers and outward remittances. Charges are broken down below:
- Commission : 0.5% of principal
- VAT : 7.5% of commission
- Telex : ₦4,000 (or its equivalent in currency of transfer)
- SMS alert fee : ₦3.76 for every notification received for transactions done
- Must provide a valid Nigerian government issued ID
- Passport photograph (a recent passport photograph)
- Means of Identification - Any ONE of options A or B stated below will suffice:
A. Nigerian ID card (ANY of the below will suffice):
- NIMC ID/NIN Slip
- NIN (number)/NIN slip + Valid Nigerian International passport
B. NIN/NIN slip + Foreign ID card (ANY of the below will suffice if Nigerian passport is expired, NIN (number) is available, but NIN slip is not available):
- Valid Notarized Foreign International Passport
- Valid Notarized Foreign Drivers’ License
- Proof of Address:
- Notarized Utility bill issued within the last three months for the address stated on the account opening form.
- Bank or Credit Card statement issued within the last three months showing customer address (stamped or notarized).
- Notarized Foreign Drivers’ License or Foreign Resident permit or Work permit showing the customer’s current address.
- Reference letter or a stamped Banker's Confirmation obtained from customer’s bank abroad that states current address (stamped or notarized).
- References– For Current and or Domiciliary accounts :
- Two completed reference forms from Current account holders (Nigerian) with any Nigerian Bank.
- Notarization or Attestation of valid ID and proof of foreign address only should be done at any of the following authorities with designation and contact indicated:
- Nigerian Embassy or High Commission or Consulate
- Lawyer or Solicitor
- Court
- Police Station
- Commissioner of Oaths
- Public Library or Post Office
- Notary public
You can visit any of our branches if you are in Nigeria or
- call our customer care team on 0201 422 4444
- or email [email protected]
Frequently Asked Questions(FAQs)
What documents are required to open a Diaspora account?
The following documents are required to open a Diaspora Banking account:
- Passport Photograph (A recent passport)
- Means of Identification - Any one of options A or B stated below will suffice:
A Nigerian ID card (any of the below is satisfactory) :
- NIMC ID/NIN Slip
- NIN (number)/NIN slip + Valid Nigerian International passport
B NIN/NIN slip + Foreign ID card (any of the below will suffice if Nigerian passport is expired, NIN (number) is available, but NIN slip is not available):
- Valid Notarized Foreign International passport
- Valid Notarized Foreign Drivers’ License
- Proof of address (any of the below would suffice):
- Notarized Utility bill issued within the last three months for the address stated on the account opening form.
- Bank or Credit Card statement issued within the last three months showing customer address. (Stamped or notarized).
- Notarized Foreign Drivers’ License or Foreign Resident permit or Work permit showing the customer’s current address.
- Reference letter or a stamped Banker's Confirmation obtained from customer’s bank abroad that states current address (Stamped or notarized).
- References - For Current and or Domiciliary accounts:
- Two completed reference forms from Current account holders (Nigerian) with any Nigerian Bank.
- Notarisation or Attestation of valid ID and proof of foreign address only should be done at any of the following authorities with designation and contact indicated:
- Nigerian Embassy or High Commission or Consulate
- Lawyer or Solicitor
- Court
- Police Station
- Commissioner of Oaths
- Public Library or Post Office
- Notary public
Are internet and Mobile banking facilities accessible to Diaspora Banking customers?
A customer with digital banking profile can do the following via the Stanbic IBTC Internet and Mobile Banking platform
- Conduct bulk and single transfer of funds to beneficiaries.
- Bill payments, data, and airtime purchases.
- View real time account balances and track up-to-the minute transactions on their accounts
- Set up a standing order instruction using our 3S Banking initiative to transfer funds to other accounts within Stanbic IBTC Bank and other Banks in Nigeria.
- Request for and Hotlist debit cards.
- Print Statement of accounts
Can corporate accounts be opened for Nigerians in diaspora under the Diaspora Banking platform?
No, the Diaspora Banking service is offered only to individuals and not to businesses. However, the customer will be referred to our Business Banking Team for further engagements.
Why do I have to notarise my foreign driver’s license and proof of address?
Notarisation is required because we are unable to validate foreign documents in Nigeria, so we rely on Notaries to confirm authenticity
Why do I need a Bank Verification Number(BVN) to open an account?
It is a regulatory requirement introduced by the Central Bank of Nigeria (CBN) to protect customers' banking transactions, reduce fraud to the barest minimum and increase the efficiency of banking operations in Nigeria
We also offer
Fixed Deposit Account
If you have a lump sum of money to invest and desire amazing returns on it, then our Fixed Deposit Account is perfect for you. With our Fixed Deposit Account, you can earn more interest on your deposits from a period as short as 30 days to up to a full year.
Internet Banking
We provide a safe and secured environment for you to make transfers, payments and track your account easily with our internet banking anytime and anywhere. Register or log on to our internet banking now.