List of Banks in Nigeria That charge Zero Transfer Fees

Transferring money from one account to another doesn't have to be expensive. In fact, more and more banks are offering free transfers, allowing you to send money without having to pay extra fees. 

If you're looking for a bank that offers zero transfer fees, apart from Opay and VBank, then you're in the right place. In this blog post, we'll explore other banks that offer zero transfer fees so you can make your money transfers with ease.


Kuda is another bank that offers zero transfer fees to its customers. Founded in 2019, Kuda is a digital-only bank that offers its customers a range of financial services without any hidden charges or fees. The bank allows its customers to send and receive money without any fees, whether it's to other Kuda accounts or to accounts in other banks.

One of the key advantages of Kuda is its ease of use. The bank offers a mobile app that is easy to navigate, making it simple to manage your finances on the go. Customers can open an account in minutes and start enjoying zero transfer fees immediately.

In addition to zero transfer fees, Kuda offers a range of other services to its customers, including savings and investment options. The bank is also committed to providing top-notch customer service, with a team available 24/7 to assist customers with any queries or issues.

However, it's important to note that there are some limitations to Kuda's zero transfer fee service. The bank currently imposes a limit of N500,000 per day on transfers, which may not be suitable for customers with higher transaction volumes. Additionally, Kuda is currently only available to customers in Nigeria.


Another mobile banking app that charges zero transfer fees is Palmpay. It is a digital wallet that allows you to perform transactions seamlessly and conveniently from the comfort of your smartphone. Palmpay is available for download on both Google Play Store and App Store.

Palmpay supports transactions to other bank accounts, as well as Palmpay wallet-to-wallet transfers. With Palmpay, you can send money to anyone with a bank account, even if they do not use Palmpay. Additionally, you can pay bills, buy airtime and data, and perform other financial transactions.

Palmpay has several security features that keep your money safe, such as fingerprint and facial recognition technology. Also, you can set up a personal identification number (PIN) to authorize transactions.

One limitation of Palmpay is that it currently does not offer debit cards or ATMs, which means you can only withdraw money by transferring it to your bank account.

Read Also: Palmpay Registration: How To Open Palmpay Account, How to Make Payments (Send and Receive Money) With Palmpay App


Paga is a popular digital financial platform that offers various services, including money transfers, bill payments, and airtime purchases. The platform was founded in 2009 by Tayo Oviosu and has grown to become one of the leading financial technology companies in Nigeria.

Paga is known for its low transaction fees, and it charges zero fees for transfers to other Paga accounts. For transfers to other bank accounts, Paga charges a flat fee of ₦10 for amounts less than ₦5,000 and ₦20 for amounts above ₦5,000.

Apart from the zero transfer fees, Paga offers several other benefits to its users. The platform allows users to link their bank accounts, cards, and phone numbers, making it easy to access funds from different sources. Paga also offers cashback rewards for using its services, and users can earn up to 5% cashback on airtime purchases.

Another notable feature of Paga is its availability across multiple platforms. Users can access Paga via its website, mobile app, or by dialing a USSD code on their phones. This makes it convenient for users to carry out transactions at any time, from anywhere.


Another option for those looking for zero transfer fees is Moniepoint. This mobile banking platform offers its customers the ability to transfer funds for free without any hidden charges or fees.

Not only does Moniepoint offer free transfers, but it also provides customers access to other banking services such as bill payments, airtime purchases, and cash deposits. Users can even withdraw cash from any Moniepoint agent location across the country.

Furthermore, Moniepoint has a user-friendly interface allowing easy navigation and quick transactions. Customers can easily view their account balances, and transaction history, and manage their accounts through the platform's mobile app.


Vbank is another digital bank that offers zero transfer fees. It was launched in 2019 by VFD Microfinance Bank and has quickly become popular due to its competitive rates and user-friendly interface. 

Vbank allows customers to send and receive money for free, making it an excellent option for those looking to save money on transfer fees. In addition to its zero transfer fees, Vbank also offers other benefits such as virtual debit cards, savings accounts, and bill payments. Vbank is available on both the App Store and Google Play and can be accessed on both mobile devices and desktop computers.

What Other Banks Charge N10 as Transfer Fees Like Kuda and PalmPay?

  • Kuda Bank: Kuda Bank is a digital bank that offers various banking services, including savings accounts, budgeting tools, and loans. They charge a flat fee of N10 for bank transfers, making it affordable for customers to send money to other bank accounts.

  • PalmPay: PalmPay is a mobile payment platform that also provides banking services in Nigeria. They offer a range of features, including savings accounts, bill payments, and airtime top-ups. PalmPay charges a nominal fee of N10 for bank transfers, ensuring that users can conveniently transfer funds to other accounts.

  • Rubies Bank: Rubies Bank is a digital bank that offers savings accounts, investment accounts, and debit cards. Similar to Kuda Bank and PalmPay, Rubies Bank charges a transfer fee of N10 for all bank transfers. This fee allows customers to send money to other bank accounts without incurring significant costs.

  • Fairmoney: Fairmoney is a digital bank that provides various financial services, including savings accounts, loans, and investment accounts. They charge a flat fee of N10 for bank transfers, making it affordable for users to send money to other accounts.

  • Piggyvest: Piggyvest is an investment platform that offers savings accounts, mutual funds, and stocks. They also charge a transfer fee of N10 for all bank transfers. This fee ensures that customers can easily transfer funds to other bank accounts.


Which bank has low charges in Nigeria? 

Several banks in Nigeria offer low charges for various banking services. Some notable banks with competitive fees include GTBank, Zenith Bank, Access Bank, and First Bank. It is recommended to compare the fees and charges of different banks to find the one that suits your financial needs.

What banks are similar to Kuda? 

Some banks in Nigeria that share similarities with Kuda Bank in terms of their digital banking offerings and customer-centric approach include Alat by Wema Bank, VBank, Rubies Bank, and Carbon (formerly Pay later). These banks provide digital banking solutions and innovative features that cater to the needs of modern banking customers.

What are the apps like Kuda? 

Apart from Kuda Bank, there are several other mobile banking apps available in Nigeria that offer similar features and services. Some popular alternatives to Kuda Bank include Alat by Wema Bank, VBank, Rubies Bank, and Carbon. These apps provide seamless digital banking experiences, allowing users to manage their accounts, make payments, and access various financial services from their mobile devices.

How much do banks charge for transfers? 

The charges for bank transfers in Nigeria vary depending on the bank and the type of transfer. Generally, banks charge fees ranging from N10 to N52 for interbank transfers and N52 to N105 for transfers to other banks. It's important to note that fees may differ based on factors such as transfer amount, channel (online, mobile, ATM), and the type of account (savings, current).

Which other app is like Opay? 

When it comes to digital payment apps in Nigeria, some alternatives to Opay include Flutterwave, Paga, Quickteller, and Paystack. These apps offer similar features such as money transfers, bill payments, airtime top-ups, and merchant payments. Each app may have its unique features and advantages, so it's recommended to explore their offerings to find the one that best suits your payment needs.


In conclusion, while Opay and VBank are two prominent digital banks in Nigeria that offer zero transfer fees, several other banks in the country also provide the convenience of zero transfer fees for their customers. These banks include Kuda Bank, PalmPay, Rubies Bank, Fairmoney, and Piggyvest. 

By eliminating transfer fees, these banks aim to make banking more accessible and affordable for their users, allowing them to send money to other bank accounts without incurring additional costs. It's always advisable to stay updated with the latest information from these banks, as their policies and fee structures may be subject to change.

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