Everybody desires the comfort of making financial transactions anywhere using their mobile phone or PC. Kuda Bank, like so many fintech, makes this possible.
In this article, you will discover things like:
- How to open a kuda bank account without visiting the bank
- History of kuda bank
- How to use kuda bank for Payoneer transactions, among many other things.
With that said, let’s move on.
What Is The History Of Kuda Bank?
Kuda, formerly known as Kudimoney, is a financial institution that performs all its transactions through a mobile app called the ‘Kuda Bank App.’ Kuda is the only digital bank authorized by the Central Bank of Nigeria, which has helped the founders expand its mode of operations in Lagos, Nigeria, and the United States of America, among other countries.
The Kuda mobile bank app allows for saving and keeping your conservancies on track. On this note, I will share a step-by-step guide on opening a Kuda account on your mobile device.
How To Open A Kuda Bank Account Online
First,
Download the bank app
Go to your Google Play Store or Apple play store on your mobile device, click the search button and input the keyword, Kuda AppPlease selectct the one with a purple background, DL(download), and set it up. It does not require many megabytes.
Sign up
After installing the app, click on sign up or sign in. Tap the sign-up option for registration. Input correct and accurate details to access the app.
- Email Address and password
- Full name
- Any means of identification-NIN, Permanent voters card, etc.
- Ethnicity
- Desired login pin
- Mobile number
- BVN(Bank Verification Number), etc.
All this information is needed before you can own an account with Kuda Bank.
Create your account
This is the final phase in opening a Kuda bank account.
After completing the registration process by providing all your details, a Kuda account number will be given to you as their potential customer to make transactions anytime and anywhere. It is not like its commercial counterparts, which make it compulsory to be physically present before you can open an account. Instead, everything is done through a mobile device.
Source says that if you consistently use the bank app to make transactions daily or weekly, they will not falter in lending you money as their customer, which will be paid eventually with the added interest at the stipulated period.
Let’s continue!
How To Become A Customer At Kuda Microfinance Bank Without BVN
Kuda Microfinance Bank has two main account openings called
- Kuda (Basic) Account
- Full (Know Your Customers) Kuda Account Opening
Full KYC is said to be the most favorable one. Unlike the other (Kuda) Basic account, the Full KYC ( Know Your Customer) allows limitless transactions with no extra charges.
Open A Kuda Bank Account Without A BVN (Bank Verification Number)
Yes, it’s possible, and here’s how you can go about it.
- D/L(download)
- Start the Kuda bank app
- Signup
- Touch the (Basic) account icon
- Fill in your data
- Submit
- After successful registration, deposit funds
To Open A Full (KYC) account
- Go to your Google or Apple play store
- Download
- Initiate the app
- Register
- Select the Full KYC option
- Fill in your personal information
- Input your Bank Verification Number
- Submit
These two Kuda account openings share similarities because all transactions are done through mobile devices. No paperwork is required.
Kuda Microfinance Bank Free Transfer
Kuda offers twenty-five free transfers if you open the Full Know Your Customer-KYC account monthly. However, registering without BVN only gives you the opportunity for two free transfers every month.
Kuda bank does not charge customers for transactions with their ATM cards. But in the case of transfers, a fee of ten naira is charged to your Kuda account.
This is not the same with other banks. Charges are taken from customers’ accounts either for withdrawing or depositing.
How To Request For Kuda Bank Card
All the processes are done through mobile devices, and delivery to your location is free.
In the case of a stolen or misplaced debit card, sign in to your Kuda bank app on your mobile phone and block your account.
- Access your app
- Log in
- Click on the menu,
- Select the card request option
- Thump on the physical card
- Input your address
- Put your mobile digiPlease giveve them the desired name to be written on the debit card
- submit
Kuda allows you to withdraw as many times as possible, and it does not matter how many atm stands you withdraw from.
Has Kuda Bank Developed Any Ussd Code?
No! Kuda Microfinance Bank has not generated any USSD (Unstructured Supplementary Service Data) code to aid its modes of operation.
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Notwithstanding, transactions can be possible by adopting the USSD code of different commercial banks to put money into your Kuda bank account. For instance, the USSD code of United Bank Of Africa *919* amount*receiver* fund number#, and send.
What Are The Different Ways To Fund Your Kuda Bank Account
- Switch accounts from any commercial bank into your Kuda bank by app or mobile Internet banking.
- Stopping in other commercial banks to render a cash deposit into your Kuda account
How to achieve financial goals on Kuda Bank
If you have registered with Kuda Microfinance Bank, you can earn up to 10 percent interest on flexible savings. Also, saving a particular amount of money for a fixed or long period earns you 15 percent interest.
To put in funds through a card
- Sign on
- Go to your Kuda app dashboard, then tap on it
- Click on expand cash
- Lastly, click on add
It also allows transfers worth a hundred thousand nairas unhindered. Nevertheless, you must pay for the charges if they exceed this amount.
Kuda And Payoneer Account
What is a Payoneer account?
It is a digital bank that pays in USD, EUR, GBP, and other currencies. It’s beneficial to remote freelance writer workers. So you can receive money wherever you are.
The provisional SWIFT code solely for your Payoneer transfers to your Kuda Bank Account is KUDANGBA234
How to create a Payoneer account through your Kuda Bank App
- Log in to your Kuda app
- Enroll for a Payoneer account(but if you already had a Payoneer account, sign in)
- Note, you must be eighteen years and above before you can apply
- Grant Kuda Bank access to your Payoneer account
Benefits of Kuda Payoneer
- You can see your Payoneer account details and balance on your Kuda Bank App.
- Receive payments from your companies or marketplace with your Kuda Bank Account in an instant
- Also, you can move funds from your Kuda account to your Payoneer account instantly.
Are you thinking of owning a Payoneer account? Then, sign in to your Kuda Bank App to get started.
Kuda Bank And wise(formerly known as Transferwise)
Wise! It is cheap to send money to more than eighty countries worldwide. It is an online money transfer bank founded in the United States Of America.
Kuda has partnered with Wise. As a result, you can receive money into your account right away.
Conclusion
For further assistance, email help@Kuda.com. You can also call or message their customer care line on Whatsapp at 016335832. Or visit their head office in Lagos, Nigeria, at 151 Herbert Macaulay Way, Yaba, Lagos.
