Sterling Bank Plc is offering its rich bouquet of electronic products and payment solutions to help customers achieve full compliance with the cash-less policy.
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 be able to carry out basic banking transactions electronically in the comfort of their homes, offices and 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 that 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, all Sterling Bank’s electronic products and services are structured to enable customers to continue their normal transactions and operations without contravening the new policy.