Sterling Bank scraps transfer fees on online transactions
Sterling Bank
Abdullateef Fowewe
A renowned Nigerian bank, Sterling Bank has announced the removal of transfer fees on all local online transactions, becoming the first major Nigerian bank to eradicate the aggressive charges for digital banking.
Confirming the development in a statement, the bank reiterated its commitment to customer-centric banking.
The Bank’s Growth Executive for Consumer and Business Banking, Obinna Ukachukwu, noted that the zero-transfer-fee policy is a values-driven approach aimed at ensuring fair and inclusive banking.
Ukachukwu said, “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.”
The initiative is expected to bring significant relief to individuals and small business owners who conduct frequent transactions.
Ukachukwu further emphasised that the bank’s decision is about more than just competitive strategy, expressing, “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, the bank in an X (formally Twitter) post wrote, “NIGERIANS ARE NO FOOLS!
“Enough Is Enough. No more quiet suffering.
“We’re doing our part by cancelling Transfer Fees. Let the other banks copy.”
“WATCH OUT! Ndi ‘we rise by billing others’ don wake up o.
To avoid stress: Join OneBank today, make a transaction, and if you’re fast (before 2PM), lunch is on us!
“Zero Transfer Fees. Just good food & vibes,” it added.
