How to Open an online Kuda Bank Account

Kuda operates like a traditional bank but makes banking activities less stressful because it offers digital banking services. To create a Kuda Account, you will have to install the Kuda App and sign up for a new Kuda account. Before your account is created, you will provide Kuda with accurate information about yourself. Thereafter, you will be given an account number.

After signing up, Kuda will manage your bank account for you and also provide additional services like banking, savings, and granting of credit facilities. You can then request a debit card for free, and get it delivered to the location you have provided. With the kuda app, you can operate and manage your account. Being able to pay bills, make instant transfers, manage your Kuda card and save as you spend.

Is It Safe To Use Kuda Bank?

Kuda Microfinance Bank is a leading full-service digital Microfinance bank, registered in Nigeria with the Corporate Affairs Commission (RC 796975) and duly licensed by the Central Bank of Nigeria (CBN). Your deposits in Kuda bank are insured by the Nigeria Deposit Insurance Corporation (NDIC).

Kuda Microfinance bank is a product of Kuda Technologies Ltd. The head office address is located at 151 Herbert Macaulay Way, Yaba, and Lagos, Nigeria. Kuda is co-founded by Babs Ogundeyi and Musty Mustapha. it secures all accounts with the same high-security encryption used by regular banks.

They are extremely committed to respecting and protecting the personal information of its customers. Therefore, making Kuda bank a safe platform to use for your financial transactions. Accompanying these facts are customers’ reviews on the Kuda official website.

Requirements to open a Kuda bank account

• Be a minimum of 18 years old and a Nigerian citizen
• A smartphone (iOS/Android) that supports the latest version of the KUDA app.
• An active phone number and email address
• Have not yet opened an account with KUDA

KUDA offers two account opening options: Basic and Full KYC account types. The information required for the Basic account includes:

• Name
• Phone number
• BVN

The information required for the Full KYC account includes:

• Name
• Phone number
• BVN
• Valid ID(National ID Card, Voters Card, Drivers Licence, and National Passport)

The advantage of the Full KYC account type over the Basic account type is that you will not have limitations on maximum single deposits and account balance. Also, you will have an unlimited daily transaction with up to the #1,000,000 single transaction limit.

Either of the accounts does not require paperwork. The opening is fully digital. So, it only takes a few minutes to start enjoying the benefits.

Benefits of Using Kuda Bank

• Debit card delivery to your location at no cost
• Creating smart budgets to help you take control of your spending
• Get a crystal-clear visual analysis of your finances
• Withdraw cash for payments free of charge at over 3,000 ATMs
• 25 free transfers to other banks every month
• Save automatically to receive 15% interest every year.
• blocking your card when it goes missing
• No card maintenance fee

Offers On Kuda savings

Flexible Savings

Flexible savings is an amazing feature on the KUDA app that enables you to save daily, weekly or monthly toward a goal and get up to 10% annual interest

Kuda spend + save

Spend+Save is an exclusive feature that helps save money for you automatically every time you spend from your Kuda account. You can withdraw from your Spend+Save savings anytime.

Fixed Savings

Fixed Savings is a feature that allows you to stash your money and watch it grow. With Fixed savings, you can save 5,000 nairas or more at once and get up to 15% annual interest. At the end of the tenor of your chosen KUDA Savings plan, the accumulated funds will be transferred to your Kuda Bank account. and also make withdrawals before the expiration of the tenor.

Kuda card

Kuda will send a free debit card to your address at no cost and never charge you a card maintenance fee. The Kuda MasterCard is issued by Zenith Bank, under a license from MasterCard Incorporated. To request a Kuda Card:

• Sign in to Kuda
• Tap Cards at the bottom of your dashboard.
• Click on Request A Card.
• Tap Get A Physical Card.
• Fill in your delivery address.
• Confirm your phone number.
• Type in the name you want us to print on your card.
• Confirm your delivery details.

Kuda fees

KUDA gives 25 free transfers every month if you sign up with your Bank Verification Number (BVN). If you sign up without your BVN, you will get 2 free transfers every month. Any extra transfers will cost you a fee of 10 naira each, everything else is free.

How to sign up Kuda app

• Download Kuda on Google Play or the App Store.
• Open the app and follow the prompts on your screen to open an account.
• Add money to your account and start enjoying KUDA-free benefits.

See also-How to open an online Domiciliary Account (Dolar Account) in FCMB