Customers jubilate as Sterling Bank abolishes online transfer fees

• Sterling Bank has announced the removal of transportation fees for section online transactions and is urging different Nigerian banks to travel suit
• Initially mistaken for an April Fool’s joke, the slope aboriginal confirmed that the zero-transfer-fee argumentation is existent and effectual immediately
• The inaugural aims to enactment individuals and tiny businesses, reflecting its committedness to fairness and customer-focused banking

Legit.ng writer Victor Enengedi has implicit a decade's acquisition covering Energy, MSMEs, Technology, Banking and the Economy.

Sterling Bank has announced that it volition nary longer complaint transfer fees for section online transactions. The slope is besides encouraging different Nigerian banks to follow the aforesaid policy.

The announcement was archetypal made connected Tuesday, April 1, 2025, via X (formerly Twitter).

It tweeted:

"NIGERIANS ARE NO FOOLS! Enough Is Enough. No much quiescent suffering. We’re doing our portion by cancelling Transfer Fees. Let the different banks copy."

In its tweet, Sterling Bank tagged First Bank, Fidelity Bank, UBA, Access Bank, GTBank and StanbicIBTC, calling them to bash the same.

Many radical initially thought it was an April Fool’s joke, but the slope aboriginal confirmed successful an authoritative connection that the zero-transfer-fee argumentation is existent and takes effect immediately.

With this decision, Sterling Bank becomes the archetypal large Nigerian slope to destruct these charges connected integer transactions.

Under the caller policy, Sterling Bank customers tin transportation money for escaped utilizing the bank’s mobile app. This is expected to assistance individuals and tiny businesses prevention money, particularly those who transportation retired aggregate transactions daily.

The slope emphasized its committedness to putting customers first, noting that the inaugural volition payment individuals and tiny concern owners who marque predominant transfers.

Nigerian Bank Ends Removal of Online Transfer Charges, Calls Out Other Banks to Do Same
Source: Facebook

Obinna Ukachukwu, the bank’s Growth Executive for Consumer and Business Banking, explained that the determination is based connected fairness and inclusivity.

He said the bank's caller argumentation is astir making banking much customer-focused.

He said:

“We judge entree to your ain wealth shouldn’t travel with a penalty. This is much than a fiscal decision—it’s astir redefining banking to enactment customers first.”

Ukachukwu besides stressed that the determination is much than conscionable a competitory strategy, but a mode of supporting Nigerians.

Ukachukwu said that Sterling Bank has ever prioritized its customers. During the COVID-19 pandemic, it supported healthcare workers successful nationalist hospitals by giving them other payments erstwhile fewer others could.

Over the years, the slope has remained committed to being a liable and responsive institution. Its caller determination to region transportation fees has been wide praised, generating affirmative reactions connected societal media and encouraging different banks to see doing the same.

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Source: Legit.ng