How to open kuda bank account (Online with phone)

Kuda bank is one of the bank that seek to digitise banking in Nigeria, they want to give Nigerian easy banking that traditional bank can not provide.

Enough of waiting tirelessly in bank before you can make transaction, enough of endless charges!!

Are you ready to say enough to problem that accompany traditional banking, would you like to switch to easy banking? Welcome you are reading the right content, in this article we will lay it all out, not only how to open account on kuda bank but all information about kuda bank.

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Benefit of owning a Kuda bank account

Perhaps you are still on the fence, below point will show you why you need to give kuda bank a try

25 free transfer every month
With kuda you will enjoy free transfer of up to 25 every month and after they will charge #10 for every transaction far better than traditional bank.

Saving feature
There is also a saving feature on kuda, where you can have a interest rate of upto 16% on your money, isn’t that good

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Loan
Incase of financial emergency, you can apply for loan with kuda and instant the loan will be disbursed. If you are able to pay the money back before 24hrs it will attract no interest which means you can borrow the loan for free within 24 hrs.

No ATM card maintainable fee
With kuda bank you can kiss Card maintainance charges bye bye, you’re not paying any charges for ATM card unlike traditional bank.

Free ATM card

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Kuda offer free ATM card, once you have up to #1,000 you can request for a card and it will be ship to wherever you are living, you can also apply for virtual card.

Budget
This is for those that spend out of bound, kuda have a feature where you can set a budget per day, per week and per month.

How kuda bank works

Kuda bank works like any other bank in Nigeria, they help you save your money, allow you to transact, pay bill, buy airtime and other.

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The only deference is that everything will be done online, at the comfort of your home.

Requirements to open kuda bank account

Before you can start to enjoy easy banking that kuda bank provide you need to meet up with their requirements, don’t fret, they are what you have already.

  • Have phone and email address
  • Be above 18 years of age
  • Have BVN
  • Have government issued I.D card (If you want to upgrade your account)
  • A referral code: U0URUGGP

Account types on kuda

Kuda have deferent types of account depending on the information you provided

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Tier 0 account
In this account, you don’t need BVN, with your name and email address you are good to go, but you won’t be able to save more than #100,000 in your account and your transfer will also be limited

Tier 1
For this account, you will be able to deposit up to #300,000 and transact #50,000 at a time. You will need to provide the below documents

  • Your name
  • BVN and phone number

Tier 2 account
This is a full fledged account, it can hold more than #1,000,000. To open it you will need to provide the below documents

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  • Bvn
  • Phone number
  • Name
  • Government issued I.D card such as Voters card, National I.D card and passport

Kuda loan

As stated in one of the section above, you are eligible for loan on kuda, and the loan offer depend on the volume of transaction you perform per month which means good credit score.

They offer some people #10,000 while they offer some people #500,000 all the same you can have a loan of up to #1,000,000 on kuda.

Kuda saving

Kuda also have a saving option where you can save your money and earn interest rate, these saving options are

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Spend and save
In this type of saving, kuda will help you to save your money as you spend and according to the percentage you specify

Flexible saving
Here you are given option to save your money daily, weekly, monthly according to your specification, this saving type comes with interest rate of 10%.

Fixed saving
Here you save your money at once and watch the interest grow. The interest rate on this is whooping 15%.

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Withdrawing your saving

All the accumulated saving will be send into your kuda account, then from there you can move it your bank account.

How to open  kuda bank account

The first step to take is to head over to play store or app store and download the app
After that load the app and sign up
During the signing up process you will be prompt to provide your name, pictures, BVN, I.D card and others.

You have option to skip some step as long as it is not names and email. You can skip step like uploading of I.D card or BVN.

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But note, if you don’t add you BVN and I.D card your account will be restricted.

If ask referral type the following code: U0URUGGP

You will be given a bonus of #1,000 once you load money into your account

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How to request for kuda ATM card

The next thing is to request fr your ATM card. Once you have up to #1,000 on your account locate and click on “Card” there you will see option to request for card.

Atet a month or two kuda bank will ship the card to you

Go to the card option again and activate the

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ATM card ship to you and that’s it you can start using your kuda card.

Is kuda bank legit

Kuda bank is legit, it is regulated by CBN and issued by NDIC. It is as legit as any other bank in Nigeria. Currently they have more than 2 million customer in Nigeria and the keep growing.

Kuda bank refferal code

Kuda bank will give you #1,000 for every person you refer. To earn locate referral option on your dashboard and copy the code. Tell your friends to use it when sign up for the app
Use this referral code when singing up: U0URUGGP

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Kuda bank contacts

Kuda bank office

151 Herbert Macaulay Way, Yaba, Lagos

Kuda bank email
E mail: [email protected]

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Who founded kuda bank

Kuda bank was cofounded by Babs Ogundeji and Mustapha Musty, as a mobile money known as kudi money, later they pivoted to online bank (Neo bank) called Kuda bank.

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