Update on Stamp Duty Charges (Electronic Money Transfer Levy)

Following the implementation of the Nigeria Tax Act 2025, there is an important update to how Stamp Duty (also known as the Electronic Money Transfer Levy) is applied to transactions on Zap. A ₦50 stamp duty charge will now apply to transfers of ₦10,000 or more made from your Zap wallet balance.

You will now be charged a ₦50 fee when you send ₦10,000 or more from your Zap Wallet balance to another account.

We want to make sure you only pay this charge when absolutely necessary. You are exempt from the ₦50 stamp duty in the following scenarios:

• Small Transfers: Any transfer of less than ₦10,000.

• Linked Account Payments: Transfers funded directly by your linked bank account (not your Zap wallet balance).*

• Apple Pay: Any transfer or payment funded via Apple Pay.

Note: If you fund a transfer using a linked bank account, your bank may apply its own standard transfer fees, but Zap will not charge the Stamp Duty fee.

Zap does not profit from this charge. This is a Federal Government levy mandated by the Nigeria Tax Act. All financial institutions are required to apply this charge. We collect the fee and remit the entire amount directly to the Federal Government to remain compliant with regulatory requirements.

If you have questions about a specific transaction or need clarification on this update, please reach out to our support team at zap@paystack.com.