By 
Banking without barriers: Sterling leads the way in zero-fee transfers.
Sterling Bank has announced a groundbreaking policy eliminating transfer fees on all local online transactions for its customers. The move is being hailed as a transformative step for customer-focused banking in Nigeria, Sterling has also confirmed that it will no longer retain any fees for itself. It will ensure that customers can move money without hidden charges or penalties.
RELATED: CBN downward review of electronic transfer fees
In a statement released this week, Sterling Bank declared that the zero-transfer-fee policy is real and takes effect immediately. The initiative reinforces its commitment to making banking more inclusive, fair, and accessible.
A Bold Shift Towards Customer-First Banking
Obinna Ukachukwu, Growth Executive for Consumer and Business Banking at Sterling Bank, emphasized that the decision is rooted in the bank’s core values of fairness and financial inclusion.
“We believe access to your own money shouldn’t come with a penalty. This is more than just a financial decision—it’s about redefining banking to put customers first.”
The move is expected to bring significant relief to individuals, entrepreneurs, and small business owners. It is an exciting development for customers who frequently conduct digital transactions. They often bear the brunt of accumulated transfer fees.
Ukachukwu clarified that Sterling’s motivation extends beyond competitive positioning, 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.”
Public Applause & Industry-Wide Impact
Sterling Bank’s decision has sparked widespread approval. Customers are praising the move across social media and urging other banks to follow suit. The initiative is putting pressure on industry peers to reconsider their transfer fee policies in a bid to remain competitive.
As digital banking adoption continues to rise in Nigeria, Sterling’s zero-fee transfer policy could set a new industry standard, influencing broader financial sector reforms aimed at reducing transaction costs for consumers.
With this initiative, Sterling Bank reinforces its position as a forward-thinking financial institution, aligning with the needs of a digital-first generation and empowering Nigerians with greater financial freedom.
