Sterling Bank has announced the removal of transfer fees on all local online transactions, becoming the first major Nigerian bank to eliminate the contentious charges for digital banking.
The move was confirmed on Tuesday in a statement with the bank reaffirming its commitment to customer-centric banking.
According to Obinna Ukachukwu, the bank’s Growth Executive for Consumer and Business Banking, the zero-transfer-fee policy is a values-driven approach aimed at ensuring fair and inclusive banking.
“We believe access to your own money shouldn’t come with a penalty,” Ukachukwu stated.
He added: “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, stating:“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.”