Over 2.5 million users benefit as lender deepens digital push and financial inclusion drive

Sterling Bank has celebrated the first anniversary of its zero transfer fees policy, revealing that customers have saved a total of ₦1.6 billion in transaction charges since the initiative was launched.

The policy, which eliminates transfer fees across the bank’s digital platforms, was introduced to ease the cost of financial transactions and encourage broader participation in the formal banking system. According to the bank, more than 2.5 million customers have directly benefited from the move, with a noticeable increase in digital transaction volumes over the past year.

Sterling Bank said the milestone underscores its commitment to customer-focused banking and continuous innovation. The lender noted that the waived fees have provided tangible relief for customers, especially amid ongoing economic pressures, by allowing individuals and businesses to retain more of their funds.

The bank added that the initiative aligns with its broader goal of promoting financial inclusion, particularly by making digital banking more accessible and affordable to underserved populations.

Looking ahead, Sterling Bank signaled plans to roll out enhanced digital services and customer reward programmes in the coming months. These efforts, it said, are aimed at improving user experience while sustaining momentum in its digital transformation journey.

Industry analysts say the zero-fee model, though relatively uncommon among traditional lenders, could reshape competition in Nigeria’s banking sector if sustained, as customers increasingly gravitate toward cost-efficient digital solutions.