It is no news that traditional banks can get difficult to deal with despite having several locations across the country. Traditional banks sometimes find it difficult to attend to all their customers and many customers get tired of queuing up in line for hours only to be ignored. That is why Kuda bank was greatly appreciated when it came to light.
This is simply a traditional bank without a physical location. With Kuda bank, you get everything done from the comfort of your home or office with your smartphone. Kuda bank is a great alternative to the traditional Nigerian bank.
In this article, we will share information about Kuda Bank App. At the end of this article, you will understand why Kuda bank is a great alternative to traditional banks.
About Kuda microfinance bank
Kuda Microfinance Bank is a no-fee full-service bank that takes advantage of digital and technological advancements. It is also the first CBN-licensed mobile-only bank.
Kuda bank was founded in 2019 by Babs Ogundeyi and Musty Mustapha. It began as Kudimoney, but after learning about the Nigerian banking system and customers, it evolved to create a new type of banking that will make banking easier for users. It is now called Kuda Bank and It does not require a physical location to provide banking services.
Kudabank is licensed by the Central Bank of Nigeria (CBN) and registered with the Corporate Affairs Commission (RC 796975). The Nigeria Deposit Insurance Corporation (NDIC) insures the deposits of customers in Kuda Bank.
What Is Kuda Bank App?
Kuda bank app is an app that is owned by Kuda Bank. The Kuda app is essential because Kuda bank is designed specifically for smartphone users.
Customers can open an account, stick to a budget, spend wisely, save more and even loan money from this bank app.
The app is simple to use and has a great user-friendly interface. It can be used by anyone to get banking services from the comfort of their homes. It loads fast allowing for a faster transaction.
The Kuda bank app is compatible with a variety of smartphone platforms, including Android, iPhone, and Windows Phone.
Benefits of Kuda bank:
- You can make up to 25 transfers in a month without being charged a withdrawal fee.
- No card maintenance fee on Kuda.
- Also, buy airtime, data, and pay bills from your Kuda bank app.
- Quick access to loans from Kuda bank if you are a consistent customer.
- This bank has great customer service.
- You don’t have to go to a physical bank to make transactions. You can do everything from your smartphone in the comfort of your home, office, or anywhere.
Disadvantages of Kuda Bank:
You can operate from an app. It has no USSD code so, if you are stuck in a place with no internet connection you cannot make transactions.
What is another name for Kuda Bank?
Kuda bank was formerly called Kudi money.
What is the Kuda Bank Whatsapp phone number?
Kuda bank currently has no WhatsApp number for its customer care service. If you want to contact them, do so by sending an email to them via [email protected] or through the Kuda app.
How to sign up for Kuda bank
- First, you need to visit kuda bank website to start registration And you to download kuda bank app
- Choose the option to sign up
- Once you have chosen this, you will be taken to the first of six pages.
- Then, enter your email address, password, re-enter password, and referral code correctly (If someone referred you to the app. Enter their referral code)
- Then, enter your last name as well as your first name on the second page.
- Once you are done, you will be sent to the next page where you will enter your date of birth and gender. The third page requires you to enter your phone number.
- After that, you will have to verify your phone number using the OTP that will be sent to the phone number you provided.
- Then, add your street address, city, and state.
- Finally, you will take a selfie on the last page, and you are done. Welcome to Kuda!
What is Kuda account opening Procedure?
After you’ve signed up on the Kuda Bank app, the next step is to create an account. When you create an account you are given an account number that you can use to make transactions.
To create a Kuda Bank account you need to choose from three different accounts. The type of account you choose will determine the requirements needed to open it and its characteristics.
These three account types are Lite, Basic, and Premium.
- You only need to provide your name and phone number to register for a Lite account.
- Your name, phone number, and BVN are required for a Basic account.
- Your name, phone number, BVN, and q valid ID are required for the premium account, which is the highest tier account type.
The benefit of having a premium account is that you can transfer up to 250k at once with daily maximum transfers of up to 1 million nairas and 500,000 from on a POS.
How does the kuda overdraft/Kuda Bank loan work
Kuda Bank’s overdraft makes it possible for customers to get a quick short-term loan online without having to fill out any paperwork. You can repay with 0.3 percent interest at any time.
- Loyal customers can get loans or overdrafts from Kuda bank, and this is how.
- First, open the Kuda bank app and swipe to your borrowed account.
- Then, click on borrow.
- After that, click on next and enter the amount you want to borrow.
- After you’ve entered the amount you want to borrow, click Done.
- Then, you need to verify your transaction PIN, face ID, or fingerprint to make sure it’s correct.
- Then, click OK, when you are done.
- You can now spend your borrowed money.
- How to get Bonus and codes for Kuda Referral?
- To gain the referral bonus from Kuda bank, you have to refer a customer to open an account through the Kuda app. For each person you successfully refer to open a new account on the app, you will receive N200.
Is Kuda Bank Safe?
Yes, Kudabank is safe. It is licensed by the Central Bank of Nigeria (CBN) and operates with a microfinance Bank licensed.
It is also registered with the Corporate Affairs Commission (RC 796975). All Kuda accounts have the same solid security encryption used by other banks.
Conclusion
Kuda Bank has everything you need to make you want to switch from traditional banks.
The features that Kuda Bank offers to its users are enough to entice anyone, especially when they learn that they can conduct any type of transaction for very little or for free from anywhere.
If you don’t have a smartphone, it is advisable to wait until you do before attempting to register on Kuda.
We hope that you found this article on Kuda Bank App review informative.