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Sterling Bank Stops Transfer Fees On Online Transactions

Ojimaojo Abubakar by Ojimaojo Abubakar
April 3, 2025
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Sterling Bank Stops Transfer Fees On Online Transactions
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Sterling Bank has announced the removal of transfer fees on all local online transactions.

The move was confirmed by the bank on Tuesday in a press release.

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The development makes it the first major Nigerian bank to eliminate the contentious charges for digital banking.

The statement noted that the bank reaffirmed its commitment to customer-centric banking, declaring that the zero-transfer-fee policy is real and effective immediately.

The initiative is expected to bring significant relief to individuals and small business owners who conduct frequent transactions.

The bank’s Growth Executive in charge of Consumer and Business Banking, Obinna Ukachukwu, described the decision as a values-driven approach aimed at ensuring fair and inclusive banking.

“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 the new policy, Sterling customers will not be charged for local transfers conducted via the bank’s mobile app.

Ukachukwu emphasised that the bank’s decision is about more than just competitive strategy.

He said, “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.

ALSO READ:  Kano residents lament high cost of cooking gas
Tags: Sterling Bank
Ojimaojo Abubakar

Ojimaojo Abubakar

Abubakar Ojimaojo is a graduate of Mass Communication, political and football analyst currently work at elanzanews.ng as Editor. He pride himself as skilled wordsmith with a passion for delving into contemporary political issues on both national and international scale.

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