✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live

Cashless policy: Sterling Bank launches products

In a statement, the bank said the convenience, security and efficiency of the e-channel products and services would ease any initial policy constraint and ensure…

In a statement, the bank said the convenience, security and efficiency of the e-channel products and services would ease any initial policy constraint and ensure that customers have seamless compliance with the new policy.

According to the bank, with electronic payment solutions and products such as Sterling Point of Sale (POS), Sterling Naira Visa Card, Sterling Mobile, Sterling Verve Card, Internet banking, Sterling Webpay and others, customers would can do basic banking transactions electronically anywhere using the various electronic channels.

Under the cash-less policy, banks shall cease to offer cash pick up services for customers effective January 1, 2012, third party cheques above N150,000 shall not be eligible for cash withdrawal over the counter as value for such cheques can only be received via lodgment into a bank account effective January 1, 2012; while with effect from March 30, 2012, service charge of 10 per cent shall apply on individual customers or 20 per cent on corporate customers who receive cumulative daily cash lodgments or make cumulative daily cash withdrawals in excess of N150,000 (individual) and N1million (corporate) respectively. The service charge shall apply on the amount over and above the set limits.

According to the bank’s group head of e-business, Fatai Amoo, the Point of Sale (POS),  allows local and international cardholders to pay for goods and services in a retail environment, pointing out that POS provides a convenient, modern and efficient means of processing real time transactions.

Sterling Bank revealed that it would provide the POS free to viable applicants while the applicants would only pay standard industry transaction processing fee.

“Sterling Naira Visa Card enables customers pay for goods and services anywhere in the world at any Visa Acceptance location. It  is a debit card linked to current and/or savings account as well as transfer funds to beneficiaries in any bank within Nigeria. It provides strong security based on its EMV chip & PIN compliant status. The card can only be used in Nigeria,” he stated.

The bank said its internet banking platform-SterlingNet, allows customers to access their accounts, do balance inquiry, enquire about statement of account, funds transfer between different accounts of the customer, funds transfer to third party beneficiaries within the bank and funds transfer beneficiaries in banks within Nigeria.

The bank further revealed that Sterling Webpay, a customized web solution designed to meet the business requirements of a given organization, provides a secured payment platform that allows customers to effect payment for goods and services using their debit, credit and preloaded cards.


LEARN AFFILIATE MARKETING: Learn How to Make Money with Expertnaire Affiliate Marketing Using the Simple 3-Step Method Explained to earn $500-$1000 Per Month.
Click here to learn more.

AMAZON KDP PUBLISHING: Make $1000-$5000+ Monthly Selling Books On Amazon Even If You Are Not A Writer! Using Your Mobile Phone or Laptop.
Click here to learn more.

GHOSTWRITING SERVICES: Learn How to Make Money As a Ghostwriter $1000 or more monthly: Insider Tips to Get Started. Click here to learn more.
Click here to learn more.

SECRET OF EARNING IN CRYPTO: Discover the Secrets of Earning $100 - $2000 Every Week With Crypto & DeFi Jobs.
Click here to learn more.