How To Open Kuda Bank Account

Kuda Bank, formerly known as Kudimoney, an online saving and lending platform, transitioned into a digital bank in the year 2018.

The banking sector has taken a new turn since the introduction of Digital Banking and a large percentage of the world has embraced the idea.

What Is Kuda Bank All About?

Kuda Bank is a digital bank that allows all its users to carry out bank transactions from their comfort zone, without having to be physically present at the bank.

They hit the financial market in 2018 and won the heart of several Nigerians with the “Bank Of The Free” policy they operate, meaning their users can carry out bank transactions at no bank charges cost.

Kuda bank allows their customers to make 25 free bank transfers to other banks every month. Any other transfer made to other banks when the 25 free transfer option elapses attracts ₦10 each.

The “Bank Of The Free” policy to some extent, has addressed the frustration people face with excessive bank charges.

How Does Kuda Bank Work

A Kuda Bank account can be run easily from a mobile phone or browser with internet access.

How To Open A Kuda Bank Account

To open a Kuda Bank account, you must be at least 16 years old. Here is how to open a Kuda Bank account:

1. Visit your mobile phone PlayStore or AppStore, as the case may be, Search for Kuda Bank

2. Download and install the app

3. After downloading and installing the app, you’ll be required to fill in some personal information like your name, address, phone number, BVN and email address; fill and submit

4. Then you’ll need to take a clear image of your face for identity verification

Can A Kuda Bank Account Be Opened Without BVN?

Oftentimes, I have seen people ask questions like “can I open a Kuda Bank account without BVN (Bank Verification Number)?”.

Yes, you can.

You can open a Kuda Bank account without BVN but the account will be limited to certain restrictions which are:

1. Maximum credit limit of 50,000 at a go

2. Inability to transfer money, pay bills and buy airtime

3. Account inability to exceed 300,000 balance

All these restrictions will limit your Kuda Bank transaction abilities, hence, it is advisable to fill in your BVN.

How To Fund Your Kuda Bank Account

Funding your Kuda Bank account is as easy as ABC. See below means you can use to fund your Kuda Bank account;

Bank Transfer (from other commercial banks):

To use this means, you’ll need to:

1. Sign in to your Kuda Bank account application

2. Click on the add money button displayed on your dashboard

3. Click bank transfer

4. Then copy the bank account details (number) displayed

5. The account number copied can be used when making a transfer from other commercial banks

Cash Deposit (on Kuda Bank account):

To use this means, you’ll need to:

1. Sign in to your Kuda Bank account application

2. Click on the add money button displayed on your dashboard

3. Click cash deposit

4. Then follow the instructions on your screen to deposit cash into your Kuda account from your partner commercial bank’s account

USSD: 

To use this means, you’ll need to:

1. Sign in to your Kuda Bank account application

2. Click on the add money button displayed on your dashboard

3. Click USSD

4. Type in the amount you’ll love to pay into your Kuda Bank account

5. Click on the USSD code for the commercial bank you want to credit your Kuda Bank account from

6. Clicking the USSD code will automatically dial the code, then follow the prompts on your screen

Payoneer: 

To use this means, you’ll need to:

1. Sign in to your Kuda Bank account application

2. Click on the add money button displayed on your dashboard

3. Click Payoneer

4. Choose the currency balance to move money from

5. Type in the amount to be moved to your Kuda Bank account

6. Confirm the transfer with your transaction PIN, fingerprint or Face ID

7. Then, click okay

Card:

To use this means, you’ll need to:

1. Sign in to your Kuda Bank account application

2. Click on the add money button displayed on your dashboard

3. Click Add By Card

4. Then follow the instructions that pop up on your screen

How To Save On Kuda Bank

On your Kuda Bank account, you can easily save towards a financial goal, even earn up to 10% interest on flexible savings or save a particular sum for a fixed time (fixed savings) and earn up to 15% interest.

How To Get A Kuda Bank Card

Getting a Kuda Bank card requires just 8 steps:

1. Sign in to your Kuda Bank account application

2. Click the card button positioned at the bottom of your dashboard

3. Click on request a card

4. Click on get a physical card

5. Fill in your delivery address

6. Confirm your phone number

7. Fill in your name as you want it to appear on your card

8. Confirm delivery detail and submit

It takes a maximum of two (2) weeks to get a Kuda Bank card.

How To Activate Kuda Bank Card

After getting your Kuda Bank account card, you will have to activate the card before you can use it. To activate the card;

1. Sign in to your Kuda Bank account with the email address linked to your Kuda account and your Kuda password

2. Click on card at the top of the page

3. Then click activate card

How To Contact Kuda Bank Customer Care 

Despite being a digital bank, Kuda bank still provides customer care services to its users.

To lay a complaint, send an email to help@kudabank.com or send them a direct message on their social media platforms.

Originally posted on April 2, 2021 @ 10:23 pm