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The short answer
Keystone Bank publishes card prices of 1,075 including VAT for its naira Mastercard and Verve cards, a maintenance fee of ₦1 per ₦1,000 debited on personal current accounts, and a 0.05% cash withdrawal fee plus a $25 telex charge on domiciliary accounts. It does not publish its transfer or SMS alert fee on the pages we read, so the CBN Guide to Charges applies as the ceiling: ₦10, ₦25 or ₦50 per interbank e-transfer by amount under the 2020 guide, with SMS alerts at cost recovery. Since 1 January 2026 the sender also pays a ₦50 stamp duty on transfers of ₦10,000 or more.
Bank charges in Nigeria come from two places: what the bank sets, and the ceilings the CBN allows. This guide separates the two for Keystone Bank. The Keystone figures come from its own product pages as read in October 2026; the caps come from the CBN's Guide to Charges in force since 1 January 2020.
What Keystone publishes
| Item | Keystone figure | Where it is stated |
|---|---|---|
| Naira Mastercard or Verve debit card | 1,075 VAT inclusive, valid 3 years | Card services page |
| Visa Classic debit (USD, GBP, EUR) | Joining $3.28; annual $10; cash withdrawal $4 | Card services page |
| Visa naira credit card late payment | ₦2,000 if the 15% minimum is not paid | Card services page |
| Personal current account maintenance | ₦1 per ₦1,000 debit transaction | Accounts page |
| Quick Save, Quick Save Plus, Savings Account Xtra | No monthly maintenance fee | Accounts page |
| Domiciliary account cash withdrawal | 0.05% of the amount withdrawn | Accounts page |
| Domiciliary telex charge | $25 or GBP/EUR equivalent | Accounts page |
The ₦1,075 card price matches ₦1,000 plus 7.5% VAT. Keystone's Evolve account for students and corps members gives 50% off the first debit card.
Transfers: the CBN ceiling
Keystone's USSD and Keymobile pages do not state a transfer fee. Under the CBN's 2020 Guide to Charges, an electronic transfer to another bank may cost at most:
- Up to ₦5,000
- ₦10
- ₦5,001 to ₦50,000
- ₦25
- Above ₦50,000
- ₦50
The same guide says USSD transfers attract the prevailing NIP charges. A CBN exposure draft dated 21 April 2026, reported by TechCabal, proposes making transfers up to ₦5,000 free, ₦10 from ₦5,000 to ₦50,000 and a ₦50 cap above that. As at October 2026 no effective date had been published, so the 2020 caps remain the reference until the CBN says otherwise. VAT at 7.5% is added to bank fees.
The ₦50 stamp duty
From 1 January 2026, under the Nigeria Tax Act 2025, the old ₦50 Electronic Money Transfer Levy on the receiver was replaced by a ₦50 stamp duty deducted from the sender on electronic transfers of ₦10,000 or more, as reported by Techeconomy. Transfers below ₦10,000 and salary payments are exempt. Our stamp duty guide has the detail.
Worked example
Example, assuming Keystone charges the CBN maximum: you send ₦60,000 from Keystone to another bank. Transfer fee ₦50, VAT on the fee ₦3.75 (7.5% of ₦50), stamp duty ₦50. Total cost ₦103.75, so ₦60,103.75 leaves your account. Check your debit alert for the real charge.
Card spending abroad
Keystone's dollar, pound and euro Visa Classic debit card sits on a domiciliary account, with a $3.28 joining fee, a $10 annual fee and a $4 cash withdrawal fee. The CBN's 2020 guide also sets $10 a year as the maintenance ceiling for foreign-currency cards, so Keystone's annual fee sits at that ceiling. Spending limits on this card are available on request, according to Keystone, so ask before you travel. For naira cards, Keystone lists daily limits of ₦150,000 at ATMs, ₦2,000,000 at POS and ₦1,000,000 online; whether a naira card can be used for international payments at a given time depends on the bank's current policy, so confirm with the contact centre.
SMS alerts
The CBN guide allows SMS alerts on a cost-recovery basis, meaning the bank passes on what the telecoms network charges it, not a profit margin. Keystone does not publish its per-message figure on the pages we read. Look for the alert charge line on your statement, or ask the contact centre. Email alerts, which Keystone offers on its accounts, can cut this cost.
Account maintenance and other fees
Keystone's ₦1 per ₦1,000 maintenance fee on current accounts is what the CBN calls a current account maintenance fee (CAMF). The 2026 exposure draft proposes capping CAMF at ₦0.5 per mille in 2026 and abolishing it in 2027; until a final guide is issued, check your statement. The 2020 guide also says account closure and reactivation of a dormant account are free, and monthly statements are free, with specially requested printed statements at up to ₦20 a page.
What to check first
- Your last statement: list every charge line and its date.
- Whether you are on a current account (CAMF applies) or a savings product (no maintenance fee on several Keystone products).
- Your debit alerts after a transfer: fee, VAT and stamp duty should each appear.
- If a charge looks above the CBN cap, complain to Keystone first; the CBN's Consumer Protection Department takes it up after two weeks.
Where Pryme fits
If you compare accounts on cost, look at the full line of charges, not only the transfer fee. Pryme shows fees on their own line before you approve a payment; see sending money. For the CBN ceilings in one place, read our Guide to Charges summary, and for Keystone's channel caps, Keystone transfer limits.
Questions people ask
How much does Keystone Bank charge for transfers?
Keystone does not publish a transfer fee on the pages we read. The CBN's 2020 caps are ₦10 up to ₦5,000, ₦25 from ₦5,001 to ₦50,000 and ₦50 above, plus VAT, and a ₦50 stamp duty on transfers of ₦10,000 or more.
How much is Keystone Bank ATM card?
Keystone lists its naira Mastercard and Verve debit cards at 1,075 including VAT, each valid for three years.
How much is Keystone Bank SMS alert charge?
Keystone does not publish the figure on its product pages. The CBN allows SMS alerts at cost recovery only. Check your statement or ask the contact centre.
Why does Keystone deduct ₦1 per ₦1,000?
That is the maintenance fee Keystone states for personal current accounts. Savings products such as Quick Save have no monthly maintenance fee.
Sources
- Keystone Bank: Card Services · accessed Oct 2026
- Keystone Bank: Personal banking accounts (including domiciliary and diaspora) · accessed Oct 2026
- CBN: Guide to Charges by Banks, Other Financial and Non-Bank Financial Institutions (effective 1 Jan 2020) · accessed Oct 2026
- TechCabal: CBN exposure draft of a new Guide to Charges (April 2026) · accessed Oct 2026
- Techeconomy: Stamp duty replaces EMTL, sender to bear ₦50 charge on bank transfers (1 Jan 2026) · accessed Oct 2026
- CBN: Consumer complaints management (Consumer Protection Department) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.