Sterling Bank cancels transfer fees; challenges UBA, others to follow suit
Sterling Bank on Tuesday announced it has cancelled transfer fees, challenging other commercial banks to emulate its policy.
Sterling Bank announced its transfer fees cancellation in a post on X on Tuesday, followed with a statement.
“Nigerians are no fools! Enough Is Enough. No more quiet suffering. We’re doing our part by cancelling Transfer Fees,” the bank said in its post on X.
The bank added that it would not charge money for mobile apps, Interbank transfers, ATM card issuance and called on other deposit money banks to emulate its zero transfer fees policy.
“Let the other banks copy. @FirstBankngr @fidelitybankplc
@UBAGroup @gtbank @myaccessbank @StanbicIBTC,” Sterling Bank said.
Explaining its new policy in the statement, the bank said, “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.”
The bank also dismissed insinuations that its announcement was April fool; an annual practice of funny jokes and hoaxes on April 1.
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