Sterling Bank has suspended transaction fees for all of its personal account holders as a sign of solidarity with them during the current trying times.
The offer is the bank’s recognition of the difficult circumstances many of its customers are going through.
Mr. Abubakar Suleiman, the bank’s Managing Director/Chief Executive Officer, announced the incentive in a personal email to customers.
He said in the message: “We at Sterling recognise the difficult circumstances many of our customers are going through. In light of this, from February 6, 2023, through February 18, 2023, our fund transfer services will be provided free of charge to all personal account customers. In addition, we are glad to inform you that we will provide free Debit Cards to all interested customers. This will provide you with a convenient and secure way to make purchases and carry out transactions.”
The move is seen as part of Sterling Bank’s continuous efforts to support its customers and the general public as the nation navigates through issues associated with the distribution of the new Naira notes.
Speaking to the media about the programme, the bank’s Chief Marketing Officer, Dante Martins, stated that this is the first initiative of its kind by a Nigerian commercial bank and that other banks should replicate it.
According to him: “We believe that by eliminating transaction costs during this period, we will be able to enable our customers enjoy a more convenient banking experience by utilising our comprehensive digital solutions, hence reducing their reliance on physical cash. We understand that our consumers require options for their daily needs, and we want to ensure that we can serve them as effectively as possible throughout this moment. By suspending transaction fees, we are confident that our clients will be able to focus on what’s most important to them while continuing to rely on Sterling’s quality and simplicity.”
Positive social media feedback has been collected in response to the effort, with message recipients praising the bank’s approach. The feedback follows the public’s warm reception of the bank’s emphasis on customer comfort and excellent service, as captured in a video that went viral and depicted bank employees in different locations, sharing bottles of water to customers waiting in line to withdraw cash from ATMs and its banking halls.
