Sterling Bank removes transfer fees on online transactions

Sterling Bank has removed transfer fees on all local online transactions, becoming the first major Nigerian bank to do so.

Sterling Bank announced this via a statement issued on Tuesday, April 1, 2025.

Sterling Bank’s Growth Executive for Consumer and Business Banking, Obinna Ukachukwu, said the decision to remove transfer fees was part of a values-driven approach to ensure banking remains fair and inclusive for all customers.

Ukachukwu stated: “We believe access to your own money shouldn’t come with a penalty.

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“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, saying: “We’re not yet the biggest bank in Nigeria, but we’ve been the boldest.

“Sterling Bank fearlessly believes in the future of Nigeria, and this is us backing Nigerians with more than words.”

The Star