Sterling Bank Removes Transfer Fees On Online Transactions

Sterling Bank has announced the elimination of transfer fees on all local online transactions, making it the first major Nigerian bank to do so. This decision removes the long-standing charges associated with digital banking.

The bank confirmed this policy change on Tuesday through an official press release.

According to the statement, the bank reaffirmed its dedication to customer-focused banking, emphasizing that the zero-transfer-fee policy is real and takes effect immediately.

Obinna Ukachukwu, the bank’s Growth Executive for Consumer and Business Banking, highlighted that the initiative reflects the bank’s core values, ensuring a more inclusive financial system.

“We believe access to your own money shouldn’t come with a penalty. This is more than a financial decision—it’s about redefining banking to put customers first,” he stated.

Under this new policy, Sterling customers will no longer be charged for local transfers made through the bank’s mobile app.

The initiative is expected to ease financial burdens, particularly for individuals and small business owners who rely heavily on digital transactions.

Ukachukwu further stressed that this decision is about more than just competition in the banking industry.

“We’re not yet the biggest bank in Nigeria, but we’ve been the boldest. Sterling fearlessly believes in the future of Nigeria, and this is us backing Nigerians with more than words,” he added.