The call for zero transaction charges by commercial banks in Nigeria has grown louder, following Sterling Bank’s recent announcement to eliminate fees on mobile and online transfers.
This move, unveiled on April 1, has reignited discussions about financial inclusion and customer-centric banking practices while raising questions about the sustainability of such measures in a revenue-driven industry.
Sterling Bank’s policy eliminates charges for online transfers conducted through its mobile app, as well as fees for ATM card issuance.