Have you just moved to the UK from Nigeria, or are you planning to relocate?

If so, you might want to open a Nigerian bank account while abroad— whether you’re relocating, running a business, or sending money back home, having an account with a Nigerian bank can make transactions easier and more cost-effective.

Luckily, you don’t have to be in Nigeria to open one. Many Nigerian banks allow you to set up an account remotely, while some even have branches in the UK.

Plus, digital solutions like Ohentpay offer seamless international transfers with lower fees than traditional banks.

In this guide, we’ll break down everything you need to know—requirements, the best banks to consider, and step-by-step instructions to get started.

Step 1: Choose the right type of account

Before opening a Nigerian bank account in the UK, you need to decide which type suits your needs. Nigerian banks offer different accounts depending on how you plan to use them. Here’s a breakdown:

1. Naira Savings Account

• A simple account for personal savings and everyday transactions in Nigerian Naira (NGN).
• Ideal if you need to receive money from Nigeria, send funds home, or pay for services in Naira.
• Comes with online banking, a debit card, and sometimes interest on savings.

2. Naira Current Account

• Works like a savings account but is better for frequent transactions and business purposes.
• Suitable if you need a Nigerian bank account for business payments or to receive funds regularly.
• Unlike savings accounts, this doesn’t offer interest but comes with a checkbook and higher transaction limits.

3. Domiciliary Account (Dom Account)

• A foreign currency account for holding and transacting in USD, GBP, or EUR.
• Essential for those who receive international payments or want to save in a stable currency.
• Useful for business owners, freelancers, and Nigerians in the diaspora who get paid in dollars or pounds.
• Requires an initial deposit in foreign currency and sometimes a reference from an existing account holder.

Step 2: Do you need a Traditional bank account?

Here's some information about Traditional Nigerian banks available in the UK:

1. Access Bank

Access Bank UK specializes in trade finance, asset management, and commercial banking, but it also provides personal banking services. Some of the key features include:

• Current Accounts – Designed for professionals and high-net-worth individuals, requiring an initial deposit of £500.
• International Transfers – Same-day transfers to Access Bank subsidiaries, making it easier to send money to Nigeria.
• Foreign Exchange Services – Competitive rates for currency exchange.
• Property Loans – Financing options for individuals looking to invest in real estate.
• A £10 monthly fee applies to the current account.
• International transfers outside the UK come with a 5% transaction fee.

Unlike traditional banks, Access Bank UK does not have high-street branches. Instead, customers manage their accounts via online banking or through a dedicated Relationship Manager.

2. Zenith Bank

Zenith Bank, one of Nigeria’s largest financial institutions, has been serving customers in the UK since 2007.

With its head office in London, the bank focuses on corporate and investment banking, but it also provides limited personal banking options for Nigerians in the diaspora.

Unlike some Nigerian banks with UK branches, Zenith Bank UK primarily caters to businesses and high-net-worth individuals. Its key services include:

• Trade Services – Supporting businesses with cross-border transactions.
• Corporate Banking – Focused on companies looking for banking solutions in the UK and Nigeria.
• Treasury and Capital Markets – Investment and financial management services.
• Wealth Management – Investment opportunities for high-net-worth clients.
• Fixed Term Deposit Accounts – Personal savings options with 1, 2, and 3-year fixed terms, offering deposit protection up to £85,000 under the Financial Services Compensation Scheme (FSCS).

Zenith Bank UK does not provide everyday personal banking services like current accounts or international money transfers.

However, if you already have a Zenith Bank account in Nigeria, you may be able to access diaspora services.

These typically allow Nigerian customers abroad to manage their existing accounts remotely. For more information about the bank’s fees and services, take a look at the website.

3. GTBANK 

GTBank UK is a London-based subsidiary of Guaranty Trust Bank, one of Nigeria’s biggest financial institutions. It offers both personal and business banking services, mainly for high-net-worth individuals and corporate clients.

Key Features

• Personal banking: Offers current, savings, and deposit accounts, plus mortgages.
• Current account: Requires a £50,000 minimum deposit, includes a debit card, and offers same-day transfers within GTBank Group.
• International transfers: Available but with additional fees.
• Branch access: Only one branch at 10 Great Castle Street, London, W1W 8LP, where you can open accounts, request debit cards, or deposit cash/cheques.
• Fees: £8.95 per month or £100 per year for maintaining the account.

4. FCMB UK

FCMB UK, a subsidiary of First City Monument Bank (FCMB) Nigeria, has been operating in the UK since 2009. Originally an investment firm, it now offers personal, business, and corporate banking.

Key Features

• Personal banking: Offers current, savings, and fixed-term deposit accounts in GBP, USD, and EUR.
• Eligibility: Only available to high-net-worth individuals with an annual income of £100,000+ or net worth of £250,000+.
• No high street branches: Banking is managed online, but the head office is located at Gracechurch Street, London.
• Fees: $100 annual maintenance fee (or equivalent in GBP/EUR).

5. FirstBank

FirstBank UK, a subsidiary of First Bank of Nigeria Limited, is one of West Africa’s oldest and most established financial institutions. It offers corporate, institutional, and private banking services in the UK.

Key features

• Personal banking: Includes current accounts, investment services, and wealth protection.
• Eligibility: Requires a £150,000 minimum opening deposit and a £10,000 minimum monthly balance.
• Corporate banking: Focuses on investment and property financing.
• Regulation: Fully FCA regulated for secure banking.
• Fees: £10 monthly account fee (waived if you meet the minimum balance) and £20 per international transfer.
• Branch access: The only UK branch is at 28 Finsbury Circus, London, but most banking is done online.

6. UBA

UBA UK is a subsidiary of United Bank for Africa, which operates in 20 African countries, the USA, UAE, and the UK. With its London headquarters, UBA UK specializes in international banking and is fully FCA regulated.

Key Features

• Corporate Banking Only: No personal banking services are available.
• Focus Areas: Serves corporate clients and financial institutions with international banking solutions.
• Branch Access: The only UK branch is at 36 Queen Street, London, EC4R 1BN.

Step 3: Gather the required documents

Before opening a Nigerian bank account in the UK, you’ll need to prepare some key documents. While requirements may vary, most banks will ask for:

• A valid Nigerian passport or any other government-issued ID.
• Proof of UK address, such as a utility bill or tenancy agreement.
• A Bank Verification Number (BVN) – You can get this at Nigerian bank branches in the UK or online.
• A passport-sized photograph for identification purposes.
• An initial deposit, which varies depending on the bank and account type.

Different banks have different policies, so it’s always a good idea to check their website or contact customer support to confirm exactly what’s needed before applying.

Step 4: Apply online or visit a branch

Once you have your documents ready, it’s time to apply for your Nigerian bank account in the UK. You have two options:

• Apply online: Some banks let you apply remotely by submitting scanned copies of your documents through their website.
• Visit a branch: If your chosen bank has a UK branch, you can go in person to submit your documents and complete the process.

Step 5: Activate your account

After your application is approved, you’ll receive your account details. To start using your account, you may need to:

• Make an initial deposit (amount depends on the bank and account type).
• Complete verification through email, phone, or an in-person visit, depending on the bank’s requirements.

Once activated, you’ll be able to send, receive, and manage your funds with ease!

Step 6: Start depositing

Once your account is activated, you’re all set to start using it! Here’s what you can do:

• Send and receive money between Nigeria and the UK.
• Use online and mobile banking to manage your transactions from anywhere.

Looking for a smarter way to bank?

While opening a Nigerian bank account in the UK is a great option, it’s not always the most convenient—especially if you don’t have plans for a large sum of money or you’re a small business looking for a flexible solution. That’s where Ohentpay comes in.

Ohentpay is designed to give you the Nigerian banking experience—only easier, faster, and better. With Ohentpay, you can:

• Send and receive money between Nigeria and the UK seamlessly.
• Enjoy lower fees and better exchange rates compared to traditional banks.
• Make instant international transactions without the hassle of paperwork or high minimum balances.

Why deal with complicated banking processes when you can get started with Ohentpay in minutes? Sign up today and experience a smarter way to bank across borders!