- Sterling Bank customers will no longer incur any charges for domestic digital transactions
- Sterling Bank decision to remove transfer fees aims to provide equitable and accessible financial services to its customers.
- Sterling customers will enjoy free transfers for all local transactions conducted via the bank’s mobile app.
In a move poised to transform the Nigerian banking landscape, Sterling Bank has taken a pioneering step by canceling all fees associated with local online transfers, Eko Hot Blog reports.
Effective immediately, Sterling Bank customers will no longer incur any charges for domestic digital transactions, marking a new era of transparent and ethical banking in Nigeria.
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The bank’s initial announcement on April 1st was met with skepticism, with many assuming it to be an April Fools’ Day prank.
However, Sterling Bank has since confirmed the policy change, cementing its position as a trailblazer in customer-focused banking solutions.
As digital banking continues to gain traction across Nigeria, Sterling Bank’s decision to remove transfer fees aims to provide equitable and accessible financial services to its customers.
By prioritizing transparency and fairness, Sterling Bank is challenging industry norms and setting a new standard for customer-centric banking practices in the region.
“We believe access to your own money shouldn’t come with a penalty,” said Obinna Ukachukwu, Growth Executive leading the Consumer and Business Banking Directorate.
“This is more than a financial decision, it’s a values-based one. It reflects our commitment to making banking fair, inclusive, and truly customer focused.”
“We’re not yet the biggest bank in Nigeria, but we’ve been the boldest,” Ukachukwu added. “Sterling fearlessly believes in the future of Nigeria, and this is us backing Nigerians with more than words.”
Under the new policy, Sterling customers will enjoy free transfers for all local transactions conducted via the bank’s mobile app.
This decision, rooted in the bank’s ongoing commitment to customer-centric practices, promises substantial savings for individuals and small business owners who frequently make digital transfers.
The bank’s dedication to responsive and responsible banking was particularly evident during the COVID-19 pandemic when Sterling provided much-needed supplementary payments to public healthcare workers.
As the bank continues to redefine ethical financial practices, its latest decision to eliminate transfer fees has garnered positive feedback across social media platforms and could encourage other banks to rethink their strategies and prioritize customer-first policies.
We’re proud to lead this change,” Ukachukwu added. “We hope it inspires others to think differently about what customers truly need from their banks, not just in services, but in values.”
Online communities were not excluded as WhatsApp Nigeria lit up with viral broadcasts as users forwarded the news across various groups, including one from a prayer circle that read: “Please my good people this is not a joke!!! Sterling Bank has just shocked Nigeria today o!!
“My neighbour Justina just transferred N100k and no charges!!! God bless Sterling Bank!!”. The message quickly gained traction, sparking massive public interest and mounting pressure on other banks to follow suit.
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Sterling’s zero-fee policy is part of a broader strategy to transform the customer experience and deliver transparent, ethical banking solutions at scale.
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