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The short answer
Most everyday Union Bank charges are capped by the CBN Guide to Charges (effective January 2020): interbank e-transfers of ₦10 below ₦5,000, ₦25 up to ₦50,000 and ₦50 above, a ₦1,000 one-off for a naira debit card, and SMS alerts at cost recovery. Separately, a ₦50 stamp duty applies from 1 January 2026 to transfers of ₦10,000 or more, paid by the sender. Union Bank's own full tariff was not published on the pages we checked.
Small debits add up. A Union Bank statement may show transfer fees, VAT, SMS alert charges, card fees and a stamp duty line, and it is not always obvious which are the bank's charges and which are set by government. This guide sorts them, using the CBN's rules and Union Bank's own published figures where they exist.
Transfer charges
The CBN Guide to Charges by Banks, effective 1 January 2020, caps the fee for electronic transfers to other banks at:
| Transfer amount | Maximum fee (CBN Guide, 2020) |
|---|---|
| Below ₦5,000 | ₦10 |
| ₦5,001 to ₦50,000 | ₦25 |
| Above ₦50,000 | ₦50 |
These are maximums, and VAT may be added. The Guide also says USSD transfers attract the same charges as standard instant (NIP) transfers. In April 2026 the CBN issued an exposure draft of a new Guide, reported by TechCabal, proposing free transfers up to ₦5,000, ₦10 between ₦5,000 and ₦50,000 and a ₦50 cap above; the draft did not state an effective date. Until a final Guide takes effect, assume the 2020 caps and check the fee UnionMobile shows before you confirm.
Stamp duty: not a bank charge
From 1 January 2026, under the Nigeria Tax Act 2025, a ₦50 stamp duty applies to electronic transfers of ₦10,000 or more, deducted from the sender. Transfers below ₦10,000, salary payments and transfers between your own accounts at the same bank are exempt, according to the notice summarised by Kuda Business and other banks' customer notices. Union Bank collects it and remits it to government; it is not part of the bank's fee.
SMS alerts
The CBN Guide makes SMS alerts mandatory and allows banks to recover only their cost for customer-induced transactions, with no charge for bank-induced messages. Email alerts carry no charge. Union Bank's per-SMS figure was not on the pages we read, so look at your statement: alert charges are usually batched monthly. If you want fewer charges, ask whether you can rely on email alerts for some notifications, bearing in mind that SMS alerts remain mandatory.
Cards
- Naira debit card issuance: ₦1,000 one-off maximum, and replacement at your request ₦1,000 (CBN Guide 2020).
- Card maintenance: no charge on cards linked to current accounts; a maximum of ₦50 per quarter on savings-linked cards.
- Foreign-currency card maintenance: up to $10 a year under the Guide. Union Bank's UnionAce MasterCard page states a $10 annual maintenance fee.
- ATM withdrawals: free at Union Bank ATMs; ₦35 allowed at another bank's ATM after your third such withdrawal in a month.
The 2026 exposure draft would raise card issuance to ₦1,500 and abolish the naira card maintenance fee, but it was not in force on the sources we checked.
Statements, cheques and account housekeeping
Several charges people expect to pay are in fact limited or banned by the CBN Guide (2020):
- Monthly statements: free. Special or on-demand printed statements: a maximum of ₦20 per page.
- Account closure: no charge.
- Reactivating a dormant account: no charge.
- Counter cheques: up to ₦50 per leaf; cheque books at cost recovery.
The 2026 exposure draft proposes a ₦200 charge for an e-statement sent to a third party, such as an embassy or a lender, which is relevant if you request statements for visas. Union Bank's own statement fees are covered in our Union Bank statement guide.
Domiciliary and international charges Union Bank publishes
Union Bank's domiciliary page lists a 0.05% charge on cash withdrawals, capped at $10 on the standard domiciliary account, and a transfer charge on the domiciliary current account (shown as 0.5% of principal in one section and 0.1% in another) plus a 2% charge when cash deposits are transferred. It also lists SWIFT charges of 22 USD or 15 GBP and 18 EUR, with conflicting figures across sections. Ask the branch for the current figure in writing before a large transfer. Our Union Bank domiciliary guide covers these accounts in detail.
Worked example: a month of debits
Example only, using CBN caps rather than Union Bank's actual tariff: you make four transfers to other banks in a month, of ₦3,000, ₦20,000, ₦45,000 and ₦80,000.
| Transfer | Fee cap | Stamp duty | Total deduction |
|---|---|---|---|
| ₦3,000 | ₦10 | ₦0 | ₦10 |
| ₦20,000 | ₦25 | ₦50 | ₦75 |
| ₦45,000 | ₦25 | ₦50 | ₦75 |
| ₦80,000 | ₦50 | ₦50 | ₦100 |
| Total | ₦110 | ₦150 | ₦260 |
VAT on the fees, and SMS alert costs, would come on top. Stamp duty is ₦150 of the ₦260, which is why splitting a payment into chunks under ₦10,000 to avoid it is a poor idea: each chunk still carries a transfer fee.
What to check first
- Download a statement and list every charge line by description.
- Separate government items (stamp duty) from bank fees.
- Compare each fee with the CBN caps above.
- If a fee exceeds a cap, complain to Union Bank in writing; if unresolved after two weeks, escalate to the CBN (see our CBN Guide to Charges summary and stamp duty explainer).
Where Pryme fits
If you hold more than one currency, a Pryme account shows the Swap rate first and the fee on its own line before you approve any conversion. See how Swap works.
Questions people ask
How much does Union Bank charge for transfer to other banks?
The CBN caps it at ₦10 below ₦5,000, ₦25 from ₦5,001 to ₦50,000 and ₦50 above, plus VAT. UnionMobile shows the exact fee before you confirm.
Why did Union Bank deduct ₦50 from my transfer?
From 1 January 2026, a ₦50 stamp duty applies to transfers of ₦10,000 or more and is paid by the sender. It is a government charge, not a bank fee.
How much is Union Bank SMS alert charge?
The CBN allows cost recovery only for customer-induced alerts. Union Bank did not publish a per-SMS figure on the pages we checked; check your statement.
Does Union Bank charge card maintenance fee?
Under the CBN Guide, cards linked to current accounts carry no maintenance fee and savings-linked cards up to ₦50 a quarter. The UnionAce dollar card states $10 a year.
Sources
- 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 the Guide to Charges (Apr 2026) · accessed Oct 2026
- Kuda Business help: Stamp duty on transfers, Nigeria Tax Act 2025 (31 Dec 2025) · accessed Oct 2026
- Union Bank: Domiciliary Account · 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.