AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
UBA's September 2026 Service Charges and Rates lists transfers to other banks on the app and internet banking at ₦10 for ₦0 to ₦5,000, ₦25 for ₦5,001 to ₦50,000 and ₦50 above ₦50,000, each plus 7.5% VAT, so ₦10.75, ₦26.88 and ₦53.75. Transfers from UBA to UBA are listed as free on the app, Leo and internet banking. A separate ₦50 stamp duty applies to transfers of ₦10,000 or more.
The fee bands
These figures come from UBA's tariff document published in September 2026 and match the bands in the CBN's Guide to Charges (effective 1 January 2020).
| Amount sent to another bank | Fee on UBA tariff | With 7.5% VAT |
|---|---|---|
| ₦0 to ₦5,000 | ₦10 + VAT | ₦10.75 |
| ₦5,001 to ₦50,000 | ₦25 + VAT | ₦26.88 |
| Above ₦50,000 | ₦50 + VAT | ₦53.75 |
The same bands appear for the mobile app, retail internet banking, Leo Chat and corporate NIP uploads on the tariff. VAT is charged on the fee, not on the amount you send. The ₦25 band produces ₦26.875, which banks round to ₦26.88 or similar.
Transfers within UBA
UBA lists "Send Money UBA to UBA: Free" on the app and Leo Chat, and "Send Money to UBA Account: FREE" on internet banking. The tariff's digital channels table also shows a ₦20 "Send Money to UBA Account" line and a separate "Send Money to Mobile Number" service (₦20 below ₦5,000, ₦50 above, plus VAT). Because the tariff does not name the channel for that ₦20 line, check the fee your channel shows before you confirm. At UBA Moni agents, intrabank transfers cost ₦100 on UBA's UBA Moni page.
Stamp duty on top
Since 1 January 2026, a ₦50 stamp duty applies to electronic transfers of ₦10,000 or more and is paid by the sender. UBA's tariff lists it as "N50 charge applies to outward transfers of N10,000 and above". It is a government charge, separate from UBA's fee, and applies to UBA-to-UBA transfers to other people too. Transfers between your own accounts at the same bank are reported as exempt. See UBA stamp duty explained.
Worked examples
| Example transfer | UBA fee incl. VAT | Stamp duty | Total charges | Total debited |
|---|---|---|---|---|
| ₦4,000 to another bank | ₦10.75 | ₦0 | ₦10.75 | ₦4,010.75 |
| ₦9,500 to another bank | ₦26.88 | ₦0 | ₦26.88 | ₦9,526.88 |
| ₦20,000 to another bank | ₦26.88 | ₦50 | ₦76.88 | ₦20,076.88 |
| ₦150,000 to another bank | ₦53.75 | ₦50 | ₦103.75 | ₦150,103.75 |
| ₦150,000 to another person at UBA | ₦0 | ₦50 | ₦50 | ₦150,050 |
Note the ₦9,500 case: it falls in the ₦5,001 to ₦50,000 fee band but is below the ₦10,000 stamp duty threshold. Splitting a payment just to stay under the threshold adds a transfer fee for each part, and we do not suggest it.
Proposed changes
In April 2026 the CBN published an exposure draft of a new Guide to Charges. As reported, it proposed making interbank transfers up to ₦5,000 free, ₦10 for ₦5,000 to ₦50,000, and a cap of ₦50 above ₦50,000. It was a draft for comment, and we found no confirmed effective date as at October 2026. Until a final guide takes effect and UBA updates its tariff, the September 2026 figures above are what UBA lists. Check the fee your app shows before each transfer.
Other channels and limits
- USSD (*919#): transfer fees follow the same principle, but your network may charge for the session; see UBA *919# transfer steps.
- Limits: how much you can send depends on your account tier, not the fee; see UBA transfer limits by tier.
- Failed transfers: if you are debited but the money does not arrive, see UBA failed transaction disputes.
How to keep transfer costs down
- Pay UBA customers from UBA where you can; the transfer fee is free on the app, Leo and internet banking.
- Group small payments to the same person. Ten separate ₦3,000 transfers to another bank cost 10 × ₦10.75 = ₦107.50 in fees; one ₦30,000 transfer costs ₦26.88 plus ₦50 stamp duty, ₦76.88.
- Move money between your own UBA accounts freely; the reports list same-bank own-account transfers as exempt from stamp duty.
- Check your statement monthly. Fees that do not match the bands are worth querying with cfc@ubagroup.com.
Reading the charges on your statement
Each transfer to another bank can generate up to three lines: the transfer itself, the fee with VAT (sometimes shown as two separate lines, fee and VAT), and the ₦50 stamp duty if the amount is ₦10,000 or more. Add them together to see the true cost. If you see a line you do not recognise, compare its date and time with your transfers before raising a complaint, since many queries turn out to be stamp duty or VAT shown separately.
If you also pay for SMS alerts, each transfer can trigger an alert charged at ₦6 on most UBA accounts; that is billed separately, as explained in the UBA SMS alert charge.
Business accounts making many payments should total the month's fees and stamp duty separately from the payments themselves, so the real cost of paying suppliers is visible in the books.
Where Pryme fits
In Pryme, the fee for a transfer is shown on its own line before you approve, and the current charge is in the app. Businesses taking payments can use bank-transfer checkout free of charge.
Questions people ask
How much does UBA charge to transfer to other banks?
UBA's September 2026 tariff lists ₦10, ₦25 or ₦50 plus 7.5% VAT, depending on whether you send up to ₦5,000, ₦5,001 to ₦50,000, or above ₦50,000. That is ₦10.75, ₦26.88 or ₦53.75.
Is UBA to UBA transfer free?
Yes on the app, Leo and internet banking, according to UBA's 2026 tariff. Stamp duty of ₦50 still applies to transfers of ₦10,000 or more to other people.
Why did UBA deduct ₦50 extra on my transfer?
That is the stamp duty on electronic transfers of ₦10,000 or more, paid by the sender since 1 January 2026. It is a government charge, not UBA's fee.
How much is UBA charge for ₦100,000 transfer?
To another bank: ₦53.75 fee including VAT plus ₦50 stamp duty, so ₦103.75 in charges. To another UBA customer: ₦50 stamp duty only.
Sources
- UBA: Service Charges and Rates (PDF, September 2026) · accessed Oct 2026
- Central Bank of Nigeria: Guide to Charges by Banks, Other Financial and Non-Bank Financial Institutions (effective 1 January 2020) · accessed Oct 2026
- Techeconomy: Stamp duty replaces EMTL, sender to bear ₦50 charge on bank transfers (1 January 2026) · accessed Oct 2026
- TechCabal: CBN draft Guide to Charges 2026 · 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.