Sterling Bank Pioneers Zero-Transfer Fee Policy for Local Online Transactions
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Sterling Bank has taken a bold step in redefining customer-centric banking by eliminating transfer fees on all local online transactions. With this groundbreaking initiative, Sterling becomes the first major bank in Nigeria to introduce a zero-transfer fee policy, effective immediately.
A Commitment to Cost-Effective Banking
Announcing the policy in a press release on Tuesday, Sterling Bank reaffirmed its commitment to providing cost-effective financial services, ensuring customers enjoy seamless transactions without extra charges.
Obinna Ukachukwu, Growth Executive, Consumer and Business Banking, described the move as one driven by fairness and inclusivity, aiming to create a more convenient banking experience for customers.
“This decision goes beyond finances—it’s about putting our customers first and ensuring they transact without unnecessary costs,” he stated.
At a time when inflation continues to weaken purchasing power, this initiative offers much-needed relief, particularly for small business owners and individuals who rely heavily on digital transactions.
More Than Just a Competitive Strategy
Ukachukwu emphasized that Sterling’s decision is not about competition but about making a real impact on the lives of Nigerians.
“We may not be the biggest bank in Nigeria, but we are certainly the boldest. Sterling Bank believes in the future of Nigeria, and this is our way of supporting Nigerians in tangible ways.”
Key Benefits of the Zero-Transfer Fee Policy
✔ Unlimited Free Transfers – Customers can now send money locally without worrying about extra costs.
✔ Savings for Businesses & Individuals – Small businesses and frequent online transaction users benefit significantly.
✔ Seamless Banking Experience – The policy applies to transfers made via the Sterling Bank mobile app, ensuring convenience.
Leading the Charge in Customer-Friendly Banking
Sterling Bank’s decision to abolish transfer fees sets a new benchmark in Nigeria’s banking industry, particularly at a time when customers are burdened with various online service charges. By prioritizing affordability and convenience, the bank is reshaping digital banking for the better.
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