Sterling Bank Introduces New Feature to Give Customers N1m Monthly Despite Low Account Balance
- Sterling Bank has introduced a new feature on its OneBank platform to give N1 million monthly to customers irrespective of their bank balance
- The AlwaysOn feature allows the bank’s customers to maintain sufficient balances to solve issues without hassles
- The bank disclosed that eligible customers need to maintain a certain balance with the bank to qualify
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
A few weeks after eliminating online transfer charges, Sterling Bank has introduced AlwaysOn, a new feature on its platform to give eligible customers about N1 million monthly, despite their account balance.
The bank launched the new feature on May 1, 2025, as part of an effort to remove barriers to financial freedom and empower Nigerians to move, even in uncertain times.
Source: Facebook
AlwaysOn is an invite-only feature
The bank disclosed that AlwaysOn is a specialised invitation-only feature for customers who maintain an active OneBank account for a certain period.
The new feature provides advance funds to settle or make payments without delays or hassles, or any of the barriers associated with traditional credit systems.
According to the bank’s chief executive officer, Abubakar Suleiman, the new feature is about freedom and dignity, backing its customers with the trust and tools to act when the need arises.
He stressed that AlwaysOn is not a product but a shift in how Sterling Bank supports its customers.
New feature builds on other initiatives
The Sterling Bank boss said the financial institution is building a financial ecosystem designed for momentum, urgency, and dreams to wait.
The AlwaysOn feature is the next phase in the bank’s growing movement to develop a fairer and more responsive financial system.
The development follows the introduction of the zero transfer fees initiative in April 2025, which returned about N13 billion to customers by eliminating transfer charges across the bank’s platform.
The AlwaysOn feature also builds on Sterling Bank’s Free Bus Ride initiative, which helps commuters get home from work for free and ease economic pressure.
Sterling Bank eliminates online transfer charges
Sterling Bank recently unveiled a bold move by eliminating transfer fees on local online transactions, setting a new precedent in the Nigerian banking sector.
The bank, a subsidiary of Sterling Financial Holding Company, has become the first major financial institution in Nigeria to remove these charges, urging other banks to follow suit.
Under this new policy, Sterling Bank customers can enjoy fee-free transfers via the bank's mobile app.
This initiative is expected to offer significant savings to individuals and small businesses that frequently engage in digital transactions, thereby easing the financial burden on those making regular transfers.
Obinna Ukachukwu, the bank's Growth Executive for Consumer and Business Banking, emphasised that the decision stems from a commitment to fairness and inclusivity, focusing on customer-centric banking.
He said:
“We believe access to your own money shouldn’t come with a penalty. This is more than a financial decision—it’s about redefining banking to put customers first.”
He noted that this step reflects the bank’s dedication to improving accessibility and lowering barriers for its customers.
Supporting this move, former Aviation Minister Osita Chidoka has announced his intention to open an account with Sterling Bank as a show of solidarity.
He praised the decision as a stand against excessive banking charges and encouraged Nigerians to reconsider their banking relationships, advocating for institutions that put customers first.
Chidoka also called on other banks to eliminate transfer fees, pointing out that such charges represent only a small fraction of their overall revenue.
Source: UGC
Sterling Bank introduces free bus ride
Legit.ng earlier reported that Sterling Bank has once again expanded the definition of corporate citizenship for common Nigerians after igniting a nationwide movement with its Zero Transfer Fees campaign.
Regular Lagos residents were greeted with an unexpected present last week when they left their jobs after a long day, and buses bearing the Sterling OneBank logo were waiting to transport them home for free.
The program, which started as a campaign against bank transfer fees, has now spread to the streets when the bank started providing free bus rides to its clients along important Lagos thoroughfares.
The article was updated with additional information by the head of the business desk, Victor Enengedi.
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Source: Legit.ng
