So we built a smarter billing system that keeps your account clean, your mind clear, and your trust intact.
Testimonial
I love that I can see my charges all at once. No more wondering where my money went.”
— Aderonke, AltBank customer
The Alternative billing system enables you to conveniently make a single payment for all your banking fees and charges at the end of each month. You no longer need to worry about keeping track of individual transaction fees or being caught off guard by unexpected deductions.
Our Invoice provides a detailed breakdown of each transaction and its associated fees, ensuring complete transparency and enabling you to have a clear understanding of your financial activity.
Unsure what bank charges are about and why you get charged? We created this guide for you.
We are serious about transparent banking and that’s why we made a list of what we charge specifically for you.
Our billing system is a way to provide you with full transparency on the services we charge for and give you greater control over your account. Instead of applying charges immediately after each transaction, we've introduced a billing account where all your fees for the month are collated, allowing you to pay them at your convenience.
You don’t need to create one, it is automatically created for you.
You can access your billing account through the altbank app anytime, anywhere.
The billing account is only available to you if you have an altbank account.
For every transaction, every charge you incur goes into your Billing Account. You can pay at your convenience by transferring funds into the account. But if you prefer, we’ll handle it for you by auto-debiting your main account on the 5th day of the next month.
These are the charges you can pay on your billing account
- SMS Charge
- Card Issuance charge
- Card Maintenance charge
- Transfer charge
No, you cannot transfer money from your billing account to your main account.
The billing account is specifically designed to handle bank charges, and it only allows incoming transfers to cover those charges. Outgoing transfers from the billing account are not permitted.
No, you can only transfer from an alternative bank account.
No, the billing account is an internal account and as such it will not affect your creditworthiness.
Our dedicated Partner Care Team is readily available to address any questions or concerns you may have. Feel free to call us on 02017000555, 02018889090 or email us at [email protected].
Alternatively, you can visit our Outlets and speak to one of our Delight Officers on weekdays between 8 AM and 4 PM.
The campaign runs from November to December 2024.
Yes, customer feedback is encouraged during the review phase to improve future campaigns and customer experience.
Copyright © 2025, The Alternative Bank.
Licensed by the Central Bank of Nigeria 
The Alternative Bank is an independent financial organization in the Non-interest Banking (NIB) sector. If you receive services from, or if you have any other questions, please reach out to us via any of our contact channels. Registered address: 239 Ikorodu Road, Lagos. Financial operations on the Alternative Bank is authorised and regulated by the Central Bank of Nigeria. License to commence operations was granted in 2014. Trading and investment products provided by the Alternative Bank is wholly owned.
We are dedicated to ensuring adherence to Non-Interest Banking principles through the appointment of an Advisory Committee of Experts (ACE). The ACE is tasked with the review and approval of all our products and processes after ensuring full compliance with NIB principles.
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Abubakar Muhammad Musa is currently a Sharia Advisor and Consultant for SHAPE Knowledge Services a consulting firm based in Kuwait. He has been involved in product development, Sharia research and approval of Islamic banking products for different clients. His work covers retail banking, corporate banking and project finance deals.
Formerly, Abubakar worked as a Researcher in different units at International Shariah Research Academy for Islamic Finance (ISRA) in Kuala Lumpur, Malaysia. Besides his primary assignments in ISRA, he taught Shariah Rules in Financial Transactions to Chartered Islamic Finance Professional (CIFP) Masters online Students of International Centre for Education in Islamic Finance (INCEIF), Malaysia. He also taught MBA and BBA Students different Islamic Banking and Finance Subjects at University College of Bahrain.
Abubakar holds two Diplomas with distinction, one in Islamic Law and the other in Arabic Language from Al-Imam University Riyadh. He also holds LLB (Hons) degree in Shariah from the same University. He successfully completed his (CIFP) Professional Masters Degree Programme at (INCEIF), Malaysia. He had his internship program on Islamic Banking & Finance at Fajr Capital in Kuala Lumpur. During the programme, Abubakar conducted research relating to product structuring and market development.
Abdurraheem Ahmad Sayi is a legal practitioner and Consultant of over 16 years of active legal practice. He is currently the principal partner, A.A. Sayi & Co. (Qist Chambers) and Qadi, Independent Shari’ah Panel of Lagos State – a platform, through which he has delivered several judgments of in-depth analysis, widely applauded by leading legal and intellectual icons, including learned Judges, professors of law and Islamic Studies.
He is the Executive Director/C.E.O., ClearPath Islamic Centre (Incorporated), Lekki-Lagos and Chief Imam, SilverPoint Central Mosque, Badore, Ajah-Lagos. Fondly called Imam Sayi, Abdurraheem is the designate Chairman, Shari’ah Advisory Committee, Mutual Benefit Takaaful.
Imam Sayi has also authored a few works, some of which include: The Financial Obligations: a compendium of essays on monetary or material obligations under Islamic Law and Waqf (Charity Endowment): The Governing Principles.
He holds a Certificate on Improving Personal Effectiveness from the Lagos Business School (Pan African University) and he is a recipient of numerous awards and certificates of merits.
Education:
Master of Arts Law and Diplomacy, The Fletcher School of Law & Diplomacy.
Bachelor of Arts Arabic & Islamic Studies, The University of Chicago.
Shariah Board Experience:
Bank Muscat Meethaq (2013 – 2017)
Sterling Bank Nigeria (Since 2013)
University Bank, USA (Since 2006)
Abdulkader Thomas has over 35 years of diversified financial services experience in major markets. With a Master of Arts Law and Diplomacy from The Fletcher School of Law & Diplomacy and a BA in Arabic & Islamic Studies from The University of Chicago. His areas of activity have included trade finance, real estate finance, securities and alternative finance.
As the general manager of a foreign bank branch in New York, he secured the first US regulatory approvals of Islamic mortgage and instalment credit/sale as banking instruments. Later, he secured US regulatory approval for profit sharing deposits. Abdulkader has been involved in the successful implementation of these products in the US market. With more than 17years Shariah Board Experience in Bank Muscat Meethaq, Sterling Bank Nigeria and University Bank USA, Abdulkader has worked on IFTA projects in Europe, Africa, Southeast Asia, and an authority on Islamic deal structures and securities.
He also serves as a director of Alkhabeer Capital in Jeddah and Chairman of Alkhabeer (DIFC). He is a member of the international advisory board of the Securities Commission of Malaysia, a published author, and an active speaker on Islamic finance.
