Business: Sterling Bank Waives Online Transfer Fees

Nigeria’s Sterling Bank announced that, it will no longer charge customers for local digital transfers being the first major bank to implement this free fee policy.

This was confirmed by the bank on Tuesday during a press release.

According to the statement, the bank emphasized on customer-centric approach, stating that the zero-transfer-fee policy is now officially in effect.

Obinna Ukachukwu, the bank’s Growth Executive in charge of Consumer and Business Banking describes the decision as a value based initiative aimed at ensuring fair and inclusive banking.

“We believe access to your own money shouldn’t come with a penalty. This is more than a financial decision. it’s about redefining banking to put customers first.” He stated.

Under the new policy, Sterling customers would no longer be charged for local transfers performed via the bank’s mobile app. The development is expected to bring substantial relief to individuals and small business owners who make frequent transactions.

Mr. Ukachukwu reiterated that, the bank’s decision is more that just competitive strategy.

He said, “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.”