Transfer fees explained
How transfer fees work — internal vs external transfers and free transfers per tier.
Last updated June 18, 2026
Transfer fees depend on where the money is going and your membership tier.
Internal vs external
| Transfer type | Fee |
|---|---|
| Boldswitch to Boldswitch (internal) | Free |
| Transfer to other banks | ₦25 per transfer (the system caps the per-transfer fee at ₦50) |
The minimum transfer is ₦100. USD internal transfers are free, with a minimum of $1.
Free daily transfers per tier
Each membership tier includes a number of free daily transfers to other banks before the ₦25 fee applies. Your membership tier is based on your credit and activity points, and is separate from your KYC verification tier.
| Membership tier | Free transfers to other banks |
|---|---|
| Starter | 0 per day |
| Elite | 2 per day |
| Gold | 3 per day |
| Diamond | 5 per day |
Once you've used your free daily transfers, the ₦25 fee applies to further transfers to other banks that day.
Stamp duty
A ₦50 government-mandated stamp duty applies to transfers of ₦10,000 or more. See Stamp duty on transactions.
How to keep fees low
- Send to other Boldswitch users when you can — internal transfers are always free.
- Use your free daily transfers before they reset.
- Consider a higher membership tier if you transfer often.
Where to see the fee
The exact fee is shown on the confirmation screen before you send, so you always know the total.
Tip: Paying someone who also uses Boldswitch? Ask for their Boldswitch details to send internally and pay no fee.
See the Fee overview and Account limits by tier.