Top US bank accounts for non-residents [2027]: A guide for African businesses

Discover the top US bank accounts for non-residents based in Africa–along with their eligibility requirements and documentation rules

Key takeaways

• African businesses can receive foreign payments through local domiciliary and multi-currency accounts
• FirstBank Nigeria’s Domiciliary Account supports USD, GBP, EUR and CFA, with minimum balances varying by currency
• Union Bank of Nigeria offers domiciliary current and savings accounts with opening balances of US$100 and US$50, respectively
• UBA Nigeria offers a Dom Advantage Current Account for foreign currency holdings and investment-related transactions, and a Freedom Savings Domiciliary Account for receiving remittances
• Standard Chartered Nigeria offers USD, GBP and EUR accounts with digital banking, debit card access and foreign currency cash withdrawals at branches
• Bank of Africa Morocco’s MRE foreign currency account works for Moroccans living abroad, with online applications and remote banking
• WorldFirst’s multi-currency account provides local receiving details in 15+ currencies and up to 20 virtual cards at zero issuance cost

The United States is a major trading partner for African businesses, with Nigeria ranking as its second-largest trading partner in Africa in 2025. The US imported approximately US$5.6 billion in goods and services from Nigeria in 2025, creating demand for ways to receive and hold USD payments.

But opening a US bank account as a non-resident can involve requirements such as a US address and identity documents. This guide covers domiciliary accounts from Nigerian and Moroccan banks, alongside a multi-currency account for African businesses receiving international payments.

Can African residents open a US bank account?

Banks such as Chase, Bank of America and Wells Fargo may require a US address, Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN), identity verification and an in-person visit to open a US bank account. Hence, African residents without a US business entity may not qualify for these accounts.

Establishing a US entity does not automatically guarantee approval, as banks apply their own onboarding and compliance checks. So, African residents without a US business entity can open USD domiciliary accounts from local banks or multi-currency accounts from payments providers to receive, hold and send international payments.

USD domiciliary accounts in Africa

1. FirstBank Nigeria Domiciliary Account

FirstBank Nigeria’s Domiciliary Account lets individuals, small and medium-sized enterprises (SMEs) and corporate organisations send and receive payments in foreign currencies.¹  Available currencies include USD, GBP, EUR and more.¹

The minimum opening or operating balance is US$100, EUR 100, GBP 50 or CFA 10,000, depending on the currency.¹ Customers can make interbank and intrabank transfers, withdraw foreign currency at FirstBank branches (with no limit) and access banking services through its electronic channels.¹

The bank also states that the account earns interest, although the applicable rate is not specified.¹   To apply, complete the domiciliary account opening form and submit it to a nearby branch.¹

Fees: Not specified

2. Union Bank of Nigeria Domiciliary Current Account

Union Bank of Nigeria’s Domiciliary Current Account is built for customers who want to receive funds from abroad or make international payments.²  It supports foreign currency banking, including EUR and GBP, with an opening balance equivalent to US$100 in the relevant currency.²

International transfers are available, but transfer charges apply.²  The bank also lists a transfer fee of 0.5% of the principal amount and a cash withdrawal charge of 0.05%.²

For customers receiving USD payments, Union Bank’s Domiciliary Savings Account is another option.²  It supports savings in USD, EUR and GBP, with an opening balance of US$50 or its equivalent in Pounds or Euros.²  The account offers interest of up to 1% per annum, and cash withdrawals incur a 0.05% charge, capped at US$10.²

*Fees checked in October 2026

3. UBA Nigeria Dom Advantage Current Account

UBA’s Dom Advantage Current Account provides a way to hold foreign currency while operating an account in Nigeria.³  Available currencies include USD, GBP and EUR.³  Customers can deposit foreign cheques and instruments, and the account may also be used to fund investments in securities and real estate locally or abroad.³

The minimum opening balance is US$50, EUR 50, GBP 50 or the equivalent in another supported currency.³  Required documents include valid identification, a utility bill issued within the previous three months, one passport photograph and two current account references.³  Interest may be payable on credit balances, subject to a minimum balance of US$1,000 or its equivalent.³

Fees: Not specified

4. UBA Nigeria Freedom Savings Domiciliary Account

UBA’s Freedom Savings Domiciliary Account can be used to receive foreign remittances directly into a customer’s account.³  It offers zero-balance account opening and access to account balances through mobile and internet banking.³

Customers can receive foreign currency and telegraphic transfers, but the account does not support card use or transfers, and cash withdrawals are available only at branches.³ The account pays no interest.³

There is also a maximum account limit of US$2,000 and customers will need to upgrade their accounts when they exceed this limit.³ Applicants need a Bank Verification Number (BVN) and one passport photograph to open this account along with a US$50, EUR 50 or GBP 50 minimum operating balance.³

Fees: Not specified

5. Standard Chartered Nigeria Domiciliary Account

Standard Chartered Nigeria’s Domiciliary Account allows customers to save and spend in foreign currencies.⁴  Accounts are available in USD, GBP and EUR.⁴ Customers can access funds through online and mobile banking, use a debit card for foreign currency payments and withdraw cash in foreign currency at the bank’s branches.⁴

The account also provides access to the bank’s lending and investment products, subject to eligibility.⁴ These may include overdrafts, personal loans, credit cards, mortgages and investment funds.⁴

*Fees checked in October 2026

6. Bank of Africa Morocco MRE Account

Bank of Africa’s MRE foreign currency account is designed for Moroccans living abroad who need to handle foreign currency transactions in internationally.^6,7  Supported currencies include CAD, CHF, EUR, GBP, SEK and USD.^6,7

The account can receive funds through wire transfers, traveller’s cheques and cheque collections in the same currency.^6,7  Customers can access funds in foreign currency and use an international card linked to the account as well.^6,7

Remote banking through BMCE Direct supports account monitoring and online transactions.^6,7  Applications can be initiated online, followed by a video consultation, electronic contract signing and delivery of account access details and a card abroad.^6,7

Fees: Not specified

World Account: A multi-currency account for African businesses

WorldFirst is an international payments provider offering the World Account, a multi-currency account for African businesses receiving and making cross-border payments. It provides local receiving account details in 15+ currencies, including USD, GBP, EUR, CNH and AUD.

Businesses can share these details with overseas clients and marketplaces to receive payments in supported currencies, then hold the funds or convert them into other supported currencies. Businesses can also receive funds from 130+ marketplaces and payment gateways, including Amazon, Shopify, Stripe and Etsy.

The World Account connects to the World Card, a Mastercard-powered virtual card that can be used to pay for business expenses. Businesses can fund the card using available balances in their World Account and use it to pay suppliers or vendors, cover advertising costs and make other online business payments. The card supports payments in 150+ currencies, with zero fees for payments in 15 supported currencies when sufficient funds are held in the relevant currency.
Additional features of the World Account

• Send funds internationally across 200+ countries and regions
• Create up to 20 virtual cards at zero issuance cost
• Use World Pay, the authorised international payment provider for 1688.com, that supports direct payments to suppliers
• Move funds between World Account holders at zero cost and instantly
• Earn cashback on eligible spending via the virtual card. Terms and conditions apply

*Fees checked in October 2026

FAQs

1. Can African residents open a US bank account online?

African residents can apply for a US bank account online if they meet the bank’s eligibility criteria, which may include providing a US address, SSN or ITIN and identity documents. Those who do not meet these requirements can open local USD domiciliary accounts or multi-currency accounts from payments providers to receive international payments.

2. What is the best USD account in Nigeria?

The most appropriate USD account depends on how a business receives and uses foreign currency. FirstBank’s Domiciliary Account supports several currencies and electronic banking.¹ UBA’s Dom Advantage Current Account offers foreign currency holdings and investment-related uses, while its Freedom Savings Domiciliary Account focuses on receiving remittances.³

Union Bank and Standard Chartered also offer domiciliary banking options.^2,4  The World Account is not a bank account but a multi-currency account by an international payments provider that can be used to convert, send, receive and hold funds in USD along with 14 other currencies.

3. What are the fees for a domiciliary account?

Charges vary by bank and account type. FirstBank lists minimum balances of US$100, EUR 100, GBP 50 or CFA 10,000.¹  Union Bank specifies an opening balance equivalent to US$100, along with SWIFT and transaction charges.²

UBA’s Dom Advantage Current Account requires a minimum opening balance of US$50, EUR 50 or GBP 50.³  Standard Chartered and Bank of Africa’s other charges are not specified.^4,6  On the other hand, WorldFirst’s World Account, which is a multi-currency account (not a bank account), has zero account opening fees, monthly fees and receiving fees.

Sources

1. https://firstbankgroup.com/ng/personal/accounts/domiciliary/domiciliary-account/
2. https://www.unionbankng.com/services/personal-banking/account/domiciliary-account/
3. https://www.ubagroup.com/nigeria/personal-banking/accounts/domiciliary-account/
4. https://www.sc.com/ng/save/domiciliary-account/
5. https://av.sc.com/ng/content/docs/ng-tarrif-guide-new.pdf
6. https://www.bankofafrica.ma/en/marocains-du-monde/gerer-mes-comptes/compte-en-devises
7. https://www.bankofafrica.ma/en/marocains-du-monde/ouvrir-mon-compte

This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.