Diaspora Banking

The diaspora banking product is specially designed with our customers in mind.

Features and Benefits

  • Opportunity for asset acquisition and milestone payment
  • Availability of business support loan
  • Investment opportunities/Financial planning
  • Zero initial opening/operating balance (Naira accounts)
  • Zero fees for intra-bank and inter-bank transfers via the mobile app (Naira accounts)
  • Attractive interest rate of 5.65% (30% of MPR) on Naira accounts and 0.01% on domiciliary accounts
  • Allows lodgement of cheques and dividend with maximum value of ₦2,000,000.00 daily
  • Minimum account opening balance of USD 50, GBP 50 or EURO 50 (Domiciliary)
  • Allows for offshore remittances.

Requirements

  • Duly executed account opening form
  • BVN
  • 1 Passport photograph
  • 2 suitable References (for Domiciliary account)
  • Valid means of Identification (from a Nigerian authority or a notarized foreign International passport).
  • Proof of address:
    • Utility bill from a foreign address or Bank statement not more than 3 months old from a foreign bank (notarized)
    • Utility bill for Nigerian address of Family house

Frequently Asked Questions On The Diaspora Account

The Parallex Diaspora Banking account allows Nigerians living and working outside the country to maintain and perform domestic and foreign transactions through their account with the bank.

Yes, you can open a Parallex Diaspora account conveniently from any part of the world here

Nigerians above 18 years living legitimately in foreign countries are welcome to open Diaspora accounts

We have the Parallex Diaspora Savings Naira Account and Parallex Domiciliary Account

The following documents are required to open the diaspora banking account:
  • Duly executed account opening form
  • BVN
  • 1 Passport photograph
  • 2 References (for Domiciliary account)
  • Valid means of Identification (from a Nigerian authority or a notarized foreign international passport).
  • Proof of address:
    • Utility bill from a foreign address or Bank statement not more than 3 months old from a foreign bank (notarized)
    • Utility bill for Nigerian address of Family house

BVN is compulsory requirement to open the Parallex Diaspora account. To enroll for the Bank Verification Number (BVN) exercise, kindly visit https://nibss-plc.com.ng/bank-verification-numberbvn/diaspora-enrolment/ for details of enrolment centers in the Diaspora.

You can go to any authorized notary public in your resident country.

A reference for a domiciliary account can be someone who has a current account in any Nigerian bank.

The Parallex Mobile app is available for customers.

  • You can download the app from your mobile play store.
  • Click on sign up button.
  • Select ‘Yes’ as an existing customer on the next page and proceed to set up your app for transactions.

Yes, local cheques and dividend warrants can be lodged into the customer’s account through any of the bank branches in Nigeria

You can send a mail to customercare@parallexbank.com or call 070072725539/017002600 for prompt assistance.