After using this method to make
extra money into my domiciliary account for a long time, I have decided to
disclose it to my friends. This is not one of the “Get Rich Quick” schemes
flying all over the internet. It is a very legitimate business meant for
serious minded people like me. So if you think this business will make you rich
over night, you will be making a great mistake.
Before I start I would like to explain
what a domiciliary account is and what it is used for. This is for the benefit
of those of you who have never heard of it before.
WHAT IS A DOMICILIARY ACCOUNT?
A domiciliary account is a special
bank account which operates like your normal bank account except for the fact
that it only accepts foreign currencies. In other words, while your normal bank
account is used for saving and withdrawing money in your local currency, a
domiciliary account is used for saving and withdrawing money in foreign
currencies like Dollars, Pounds and Euros.
WHAT CAN I DO WITH A DOMICILIARY
ACCOUNT?
- With your domiciliary account, you can send and receive foreign currencies from anybody anywhere in the world.
- You can use it to clear your Google Adsense and Affiliate Marketing Cheques.
- You can also use your domiciliary account to do wire transfers.
- You can decide to save all your money in foreign currencies with your domiciliary account.
HOW CAN I OPEN A DOMICILIARY
ACCOUNT?
Opening a domiciliary account is as
simple as walking into any bank of your choice and filling a domiciliary
account opening form. But wait a minute; before you do that, you must make sure
you go along with some basic requirements.
- Means of Identification. This could be any one of the following:
- Drivers License,
- National ID card,
- International Passport.
- Utility Bill. This could be any one of the following:
- Electricity Bill
- Water Bill
3. Activation Fee (in dollars)
Note: if you already operate a savings or
current account with your bank, you might not need to produce all the above
requirements.
I personally use
GTbank and that is what i recommend for you guys. Zenith Bank is also good.
To activate your
GTbank domiciliary account, you have to pay the sum of $100 into it, while for
Zenith Bank, it costs $120. Before going to the bank, just go and buy the dollars
from any Bureau De Change office around you. Click here to see the list of
Bureau De Change offices across Nigeria
HOW CAN I MAKE
EXTRA MONEY WITH MY DOMICILIARY ACCOUNT?
Since you now
know what a domiciliary account is, and what it is used for, it is now time to
learn how to make extra money with it.
Let me
re-emphasize that this business is not for everybody.
It is for those
who have money that will not be put into use soon.
It is for those
who have the patience to wait until the time is right
It is for those
who can monitor the money market with regards to the rise and fall of the
dollar.
If you meet the
above criteria, then you are ready to do this business. So let’s get started.
STEP1. Keep track
of the Naira/Dollar exchange rate to know when the dollar falls significantly.
Let’s say N140/dollar.
STEP2. Once you
confirm that the dollar has fallen significantly, rush to any Bureau De Change office near you and buy dollars, then rush back to your bank and deposit it
into your domiciliary account.
STEP3. Then keep
monitoring the dollar to see when it rises significantly. Once it is confirmed
that the dollar has risen, rush to your bank and withdraw the money, then rush
to any Bureau De change office and change it back to Naira and you will see you
have made some extra cash on your initial deposit. You can repeat this process
as many times as you wish.
This simple
business is better than leaving your money in your bank account for several
months with little or no interest accrued.
Let’s see how
much you can really make from this business.
Example:
You bought 100
dollars at N135/dollar = 13,500
After 2 months,
the dollar rose to N165/dollar = 16,500
Gain=
16,500-13,500 = N3000
You have made a
profit of N3000 on your initial deposit in just two months. There is no bank
that can give you such an interest even if you save your money with them for
3yrs. So if you have some money that you will not need in a couple of months, I
advice you to do this business.
I hope this article was helpful. Click Here and enter your email
address to subscribe to this site or simply enter your email address in the subscription
box below so that you will not miss my future posts. Don’t forget to click on
the link that will be sent to your mail to confirm your subscription.
Cheers!!!!!!!!
Chukwuemeka Nkwocha
