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The short answer
Stanbic IBTC does not publish its own transfer tariff on the pages we read, but banks work within the CBN Guide to Charges (2020), which allows up to ₦10 for transfers below ₦5,000, ₦25 for ₦5,000 to ₦50,000 and ₦50 above ₦50,000, plus 7.5% VAT. Since 1 January 2026 the sender also pays ₦50 stamp duty on electronic transfers of ₦10,000 or more; the app shows the exact charge before you confirm.
The fee bands banks work within
The CBN Guide to Charges, effective 1 January 2020, sets the maximum a bank may charge for an electronic transfer to another bank. Stanbic IBTC's own tariff was not published on the pages we opened in October 2026, so the bands below are the ceiling, not a confirmed Stanbic price list.
| Amount sent | CBN 2020 maximum fee | With 7.5% VAT |
|---|---|---|
| Below ₦5,000 | ₦10 | ₦10.75 |
| ₦5,000 to ₦50,000 | ₦25 | ₦26.88 |
| Above ₦50,000 | ₦50 | ₦53.75 |
A CBN exposure draft dated April 2026, reported by TechCabal, proposes making transfers up to ₦5,000 free, ₦10 for ₦5,000 to ₦50,000 and keeping ₦50 above. When we checked, that draft had no confirmed effective date, so the 2020 bands remain the reference until the CBN says otherwise.
Stamp duty: the ₦50 that replaced EMTL
From 1 January 2026, under the Nigeria Tax Act 2025, the old ₦50 Electronic Money Transfer Levy was replaced by a ₦50 stamp duty on electronic transfers of ₦10,000 or more, and it is now deducted from the sender rather than the receiver, as reported by Techeconomy. Transfers below ₦10,000, salary payments and transfers between your own accounts at the same bank are reported as exempt. It is a one-off charge per transaction, not per ₦10,000.
Transfers to another Stanbic IBTC account
Transfers within the same bank do not go through the interbank switch, and the CBN guide caps only interbank transfers. Stanbic's pages we read do not state whether its intrabank transfers are free, so check the confirmation screen. Stamp duty still applies to a transfer of ₦10,000 or more to another person's Stanbic account; only transfers between your own accounts at the same bank are reported as exempt.
Worked examples
| Transfer | Fee + VAT | Stamp duty | Total charges |
|---|---|---|---|
| ₦3,000 to another bank | ₦10.75 | ₦0 | ₦10.75 |
| ₦8,000 to another bank | ₦26.88 | ₦0 | ₦26.88 |
| ₦25,000 to another bank | ₦26.88 | ₦50 | ₦76.88 |
| ₦200,000 to another bank | ₦53.75 | ₦50 | ₦103.75 |
Splitting a payment does not usually help. Sending ₦25,000 as five ₦5,000 transfers keeps each below the stamp-duty threshold, but each attracts its own fee: five × ₦26.88 = ₦134.40, against ₦76.88 for one transfer. Deliberately splitting to avoid a tax may also raise questions.
Salary and bulk payments
Salary payments are reported as exempt from the ₦50 stamp duty, but the interbank transfer fee can still apply to each payee at another bank. A business paying 20 staff at other banks, each above ₦50,000, would at the CBN 2020 maximum pay 20 × ₦53.75 = ₦1,075 in fees and VAT for the run (example only). Business customers should ask Stanbic for the tariff on their own account type, because business pricing can differ from personal pricing.
Does the channel change the price?
Stanbic's USSD page says dialling *909# is "without charges", meaning Stanbic does not add a fee for using USSD. The CBN guide says a USSD transfer carries the prevailing interbank transfer charge, and network operators may charge for the USSD session. App and Internet Banking transfers use the same bands. Our guide to Stanbic IBTC transfer limits covers how much you can send on each channel.
Reading the charges on your statement
Charges do not always appear as one figure. On many Nigerian bank statements a single transfer can produce three separate debits, which is why a ₦25,000 transfer can show more than one line.
| Statement line | What it is | Who sets it |
|---|---|---|
| Transfer amount | The money you sent | You |
| Transfer fee or commission | The bank's charge for the interbank transfer | The bank, within the CBN cap |
| VAT | 7.5% on the bank's fee | Tax law |
| Stamp duty | ₦50 on transfers of ₦10,000 or more | Tax law, collected by the bank |
What happens to charges on a failed transfer
If a transfer fails and the principal is reversed, the fee and VAT should normally be reversed too. If the money leaves your account but does not reach the recipient, report it promptly with the date, amount and recipient details. The CBN's complaints page says to complain first to the bank and, if it is not resolved, to escalate to the CBN Consumer Protection Department with proof that you reported it to the bank. Our guide to Stanbic IBTC failed transactions sets out each step.
What to check first
- The charge line on the confirmation screen, before you enter your PIN.
- Your statement or debit alerts after the transfer: fee, VAT and stamp duty usually appear as separate lines.
- Whether the recipient's bank name and account name match, because charges are not refunded for a transfer to the wrong person.
For the rules behind these numbers, see our explainer on CBN transfer rules.
Where Pryme fits
Pryme shows any fee on its own line before you approve a transfer. See sending money with Pryme.
Questions people ask
How much does Stanbic IBTC charge for transfer to other banks?
Stanbic does not publish its tariff on the pages we read. The CBN 2020 maximums are ₦10, ₦25 and ₦50 by band, plus 7.5% VAT; the app shows the exact charge.
Is the ₦50 stamp duty charged on every transfer?
No. Since January 2026 it applies to electronic transfers of ₦10,000 or more, charged to the sender, once per transaction.
Is Stanbic to Stanbic transfer free?
Stanbic's pages do not say. Check the confirmation screen; stamp duty still applies on ₦10,000+ to another person.
Does Stanbic charge for *909# transfers?
Stanbic says dialling *909# is without charges, but the transfer itself carries the normal interbank charge, and your network may charge for the session.
Sources
- CBN: Guide to Charges by Banks, Other Financial and Non-Bank Financial Institutions (effective 1 January 2020) · accessed Oct 2026
- TechCabal: CBN exposure draft of the 2026 Guide to Charges (April 2026) · accessed Oct 2026
- Techeconomy: Stamp duty replaces EMTL, sender to bear ₦50 charge on bank transfers (1 January 2026) · accessed Oct 2026
- Stanbic IBTC: USSD Banking (*909#) · accessed Oct 2026
- CBN: 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.