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The short answer
Sterling Bank’s service charges page (modified September 2026) lists SMS alerts at ₦6 per message on savings accounts and ₦4 on current accounts, debit card issuance or replacement at ₦1,000 plus VAT, and ₦50 quarterly card maintenance plus VAT on savings accounts. The ₦50 stamp duty on transfers of ₦10,000 and above is a government charge paid by the sender.
Where Sterling publishes its charges
Sterling Bank keeps a single page called Service Charges and Interest Rates on sterling.ng. The version we read in October 2026 was first published in February 2024 and last modified on 24 September 2026; it does not state an effective date for each line. Everything below comes from that page unless another source is named. Transfer fees have their own explainer: does Sterling Bank charge transfer fees?
SMS alert charges
| Account type | Transactional SMS (as at Sep 2026) |
|---|---|
| Savings accounts (except Sterling Recurring Deposit) | ₦6 per SMS |
| Current accounts | ₦4 per SMS |
The CBN Guide to Charges (effective 1 January 2020) makes SMS alerts mandatory and allows banks to recover only the cost of alerts on customer-induced transactions; alerts triggered by the bank itself should not be charged. Email alerts carry no charge under the same guide, so if you rarely need texts, ask Sterling whether you can rely on email alerts instead. A saver who makes 40 transactions a month would pay, as an example, 40 × ₦6 = ₦240 in SMS charges.
Debit card charges
| Charge | Sterling (as at Sep 2026) | CBN Guide to Charges 2020 |
|---|---|---|
| Issuance or replacement, all debit cards | ₦1,000 + 7.5% VAT | ₦1,000 one-off issuance; ₦1,000 for replacement at customer request |
| Naira card maintenance | ₦50 + VAT quarterly, savings accounts | Savings-linked cards max ₦50 quarterly; current-account cards no charge |
| GBP card (Gold) maintenance | £10 per annum | FX card maintenance $10 a year |
| USD cards (Platinum, World) maintenance | $10 per annum | FX card maintenance $10 a year |
| Other banks’ ATMs in Nigeria | ₦100 per ₦20,000; surcharge up to ₦500 off-premises | ₦35 per withdrawal after the third in a month; check for later CBN revisions |
One point to check: the charges page also lists ₦50 plus VAT quarterly card maintenance under current accounts, while the 2020 CBN guide says cards linked to current accounts should not attract maintenance. If you see this debit on a current account, ask Sterling which rule it is applying. Sterling’s own ATMs are listed as free for its cardholders.
Worked example: replacing a lost naira debit card costs ₦1,000 + ₦75 VAT = ₦1,075. A year of maintenance on a savings-linked naira card is 4 × (₦50 + ₦3.75) = ₦215.
Stamp duty on transfers
From 1 January 2026, under the Nigeria Tax Act 2025, the old Electronic Money Transfer Levy was replaced by a ₦50 stamp duty on electronic transfers of ₦10,000 and above, paid by the sender rather than the receiver, according to Techeconomy’s report of 1 January 2026. Transfers below ₦10,000, salary payments and transfers between your own accounts in the same bank are reported as exempt. Sterling’s charges page describes the same thing: a one-time ₦50 on transfers of ₦10,000 and above, borne by the sender.
Stamp duty is a government charge collected by the bank, so Sterling’s zero-fee transfer offer does not remove it. A ₦15,000 transfer on OneBank costs the sender ₦15,050; a ₦9,500 transfer costs ₦9,500.
Other charges worth knowing
- Printed statements: ₦21 per page, VAT inclusive. The CBN guide caps special statements at ₦20 per page and keeps monthly statements free.
- Reference or status enquiry letter: ₦500 + 7.5% VAT each.
- Cheque books: 50 leaves ₦2,500 + VAT; 100 leaves ₦5,000 + VAT; counter cheque ₦50; stopped cheque ₦500 + VAT.
- Bills payment on app, Sterling Pro or USSD: ₦107.50, VAT inclusive.
- USSD: the network deducts ₦6.98 per session from airtime, separate from bank fees.
- Savings accounts: more than four debits in a month forfeits that month’s interest.
USSD charges on *822#
Sterling’s USSD page lists its own set of fees, VAT inclusive, in addition to the ₦6.98 the network takes from airtime: balance enquiry ₦10, account number retrieval ₦10, BVN enquiry ₦10, bank statement request ₦10, bill payment ₦100, merchant payment ₦21.50 and cardless withdrawal ₦100. A balance check on *822*6# therefore costs about ₦16.98 in total once the airtime charge is added. Checking your balance in the OneBank app avoids both charges if you have data.
If you think you were overcharged
- Download or request a statement and mark the debits you dispute.
- Compare them with the current charges page; it changes, so check the version date.
- Raise a complaint with Sterling through its contact centre or complaints form and keep the reference.
- If unresolved after two weeks, escalate to the CBN Consumer Protection Department with your statement and the reference.
For the full list of CBN caps, see the CBN Guide to Charges summary.
Where Pryme fits
On a Pryme account, bills such as airtime and data are paid in the app, and any fee is shown before you approve.
Questions people ask
How much is SMS alert in Sterling Bank?
Sterling’s charges page (September 2026) lists ₦6 per SMS on savings accounts and ₦4 on current accounts.
How much is Sterling ATM card replacement?
₦1,000 plus 7.5% VAT, which is ₦1,075, for any debit card type.
Why did Sterling deduct ₦50 from my transfer?
That is the stamp duty on electronic transfers of ₦10,000 and above, paid by the sender since 1 January 2026. It is a government charge, not a Sterling fee.
Does Sterling charge card maintenance on current accounts?
The charges page lists ₦50 plus VAT quarterly under current accounts, but the 2020 CBN guide says current-account cards should not be charged. Ask Sterling to explain any such debit.
Sources
- Sterling Bank: Service Charges and Interest Rates (modified 24 Sep 2026) · accessed Oct 2026
- CBN: Guide to Charges by Banks, Other Financial and Non-Bank Financial Institutions (effective 1 Jan 2020) · accessed Oct 2026
- Techeconomy: Stamp duty replaces EMTL, sender to bear ₦50 charge on bank transfers (1 Jan 2026) · 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.