Hello, in this blog you’ll know all about Kuda Bank Signup: How to open kuda bank account, How to make payments (send and recieve money) with Kuda Bank app
Kuda Bank is a leading digital bank in Nigeria that offers banking services through its user-friendly mobile app. With an easy signup process, anyone can open a Kuda bank account to access services like payments, transfers, airtime/data purchase, bills payment and more.
This article provides a step-by-step guide on signing up for a Kuda bank account and making seamless payments. It covers account creation, verification, funding your account, sending/receiving money and other services offered by Kuda Bank.
About Kuda Bank
Kuda Bank is a digital-only bank founded in 2019 and licensed by the Central Bank of Nigeria. It launched full operations in 2020.
Kuda gained rapid popularity among young bank customers thanks to its innovative app-only banking model. It has low minimum balance requirements and zero account maintenance fees.
As of 2022, Kuda Bank had over 3 million customers and processed over $10 billion in transaction volume. It offers savings accounts, current accounts, fixed deposits and other services.
Benefits of Kuda Bank Account
Here are some of the key benefits of having a Kuda bank account:
- Seamless app-based banking
- Low minimum balance of NGN 500
- Free P2P and bank transfers
- Free debit card provided
- Interest of up to 6% on savings
- Zero account maintenance fees
- Personalized debit cards
- Friendly customer service
How to Sign Up for Kuda Bank
Follow these simple steps to create your Kuda bank account:
- Download app: Get the Kuda Bank app from PlayStore or AppStore.
- Register: Click on “Create Account” and enter your phone number to get OTP.
- Account type: Select savings or current account.
- Details: Enter your personal details like name, email etc.
- Verification: Your account gets instantly opened. Complete profile verification.
The signup takes just minutes. You get account details to start banking instantly.
Kuda Account Verification Process
To fully activate your Kuda account, complete profile verification within 72 hours by providing:
- Valid means of ID (NIN, passport, driver’s license etc.)
- Facial photo capture
- Proof of address
Upon successful verification, you get an account number and can order a free Kuda debit card.
How to Fund Your Kuda Bank Account
You can fund your Kuda bank account through:
- Debit card: Use any debit card to transfer funds to your Kuda account.
- Net banking: Transfer money via netbanking from any Nigerian bank.
- Bank transfer: Visit any bank branch and transfer money to your account.
- Agent: Make cash/card deposits via authorized Kuda agents.
The money immediately reflects in your Kuda bank account for making payments.
How to Send Money from Kuda
Follow these simple steps to transfer money from Kuda:
- Open Kuda app and select ‘Transfer’ option.
- Enter recipient bank details – name, account no, bank name.
- Enter amount and remark (optional).
- Confirm details and click on ‘Transfer’.
- Authenticate by entering your Kuda PIN.
- Money is instantly transferred to the recipient account.
You can transfer money for FREE to any Nigerian bank account from Kuda app/website.
How to Receive Money on Kuda
To receive money into your Kuda bank account:
- Share your Kuda account details – account number and name.
- Instruct sender to make transfer to your account.
- Received amount will reflect instantly in your account.
- You get notification for money received.
No charges for receiving funds into your Kuda bank account.
Other Kuda Bank Payment Services
In addition to bank transfers, you can use Kuda for:
- ATM withdrawals – Access cash from Kuda debit card
- Airtime/data purchase – Buy airtime and data easily
- Pay bills – Pay for electricity, TV, etc bills
- Shop online – Make payments on merchant sites
- POS transactions – Use Kuda card for in-store payments
FAQs on Kuda Bank Signup: How to open kuda bank account, How to make payments (send and recieve money) with Kuda Bank app
Here are some FAQs about Kuda Bank Signup: How to open kuda bank account, How to make payments (send and recieve money) with Kuda Bank app.
Is there any minimum balance requirement for Kuda?
Yes, you need to maintain a minimum account balance of 500 naira.
Does Kuda offer interest on savings account?
Yes, the Kuda savings account offers up to 6% interest per annum.
Can I pay bills like DSTV on Kuda?
Yes, Kuda allows you to conveniently pay bills for electricity, DSTV, Smile, etc.
Is money transfer from Kuda account free?
Yes, you can transfer money for free to any Nigerian bank account.
How do I get account statement on Kuda?
You can download your account statements directly from the Kuda Bank mobile app.
Can I use Kuda without internet banking?
No, Kuda offers banking services only through its mobile app which requires internet.
Does Kuda have physical branches?
No, Kuda is a digital-only bank without physical branches or locations.
What is the maximum withdrawal limit on Kuda debit card?
Kuda allows ATM withdrawals of up to 200,000 naira daily from its debit card.
How do I report unauthorized transaction on Kuda?
Raise a complaint via the in-app support chat or call Kuda customer care to report unauthorized transactions.
How many accounts can I open with Kuda?
Kuda allows you to open only one account per person – either savings or current account.
Can I use BVN to transfer money from Kuda?
No, BVN cannot be used to transfer money. You need recipient’s account details.
Which currencies does Kuda support?
Kuda account supports only the Nigerian Naira currency at present.
Is there a limit on receiving money into my Kuda account?
No, there is no limit set by Kuda on amount you can receive through transfers.
Conclusion
Signing up for a Kuda bank account is quick and convenient through its mobile app. Verifying your account and funding it lets you access payment services easily. You can receive money, transfer funds, pay bills and withdraw cash without hassles.
With innovative solutions and great customer service, Kuda provides modern digital banking for Nigerians.
Now, in this blog, you know about Kuda Bank Signup: How to open kuda bank account, How to make payments (send and recieve money) with Kuda Bank app.
