Sterling Bank celebrates milestone of zero transfer fees for customers
Sterling Bank has marked the first anniversary of its Zero Transfer Fees policy, which has returned over N1.6 billion to its customers. The initiative, launched on April 1, 2025, eliminated transfer charges on the bank’s digital platform, OneBank. Abubakar Suleiman, the bank’s CEO, said the move was aimed at delivering real value to customers rather than generating revenue from transfer fees. Millions of customers have benefited, and the bank plans to continue expanding its offerings while maintaining its focus on customer value.
TLDR
- Sterling Bank’s Zero Transfer Fees policy was launched on April 1, 2025, making it the first major Nigerian bank to remove online transaction charges for customers.
- Over N1.6 billion has been returned directly to customers in the first year of the policy.
- Abubakar Suleiman stated that the initiative validates the bank’s customer-focused model and digital transformation strategy.
- The policy has led to increased transaction volumes, deeper financial inclusion, and greater engagement with formal banking systems.
- Donatus Okpako, Chief Marketing Officer, described the anniversary as a milestone and emphasized the bank’s commitment to fairness and future customer-focused innovations.
