How to Open a Domiciliary Account at Polaris Bank: Steps and Rates

13 October 2026 - Naira Briefing

Polaris Bank serves a broad retail and SME base, and its domiciliary account is a straightforward way to hold USD, GBP or EUR in Nigeria. If you earn or spend in foreign currency, it avoids forcing an immediate conversion — the steps follow our domiciliary account guide.

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Documents and steps

Government ID, BVN and passport photos.
Proof of address and the account form.
Business customers add incorporation papers.

The conversion is the cost

The dom account itself does not set the FX rate — the moment you convert, the bank’s rate decides the outcome, and it can trail the market. Read how banks price FX to see the margin, and check the live USD rate so you know a fair conversion when you see one.

Need a better conversion than the counter rate? Message us — we settle naira-to-dollar both ways at a market-based rate.

Converting for a dom account?

We handle naira-to-dollar both ways at a market-based rate, cleanly.

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Related guides

Tools to take this further

Savings & dollar-hedge calculator

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Dollar-cost-averaging calculator

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