Banking and Payment

Kuda Bank – Company Profile And Reviews


Kuda Microfinance Bank | App And Reviews

Kuda is the first mobile-only bank in Nigeria, licensed by the Central Bank of Nigeria. With his mobile banking app, you enjoy zero card maintenance fees, free transfer, automatic savings, up-to 15% interest every year.

Kuda bank is fully licensed by Central Bank Of Nigeria [CBN] and deposits insured by Nigeria Deposit Insurance Corporation [NDIC].
Babs Ogundeyi is Kuda co-founder and CEO and was founded in 2018
babs ogundeyi kuda ceo
Kuda CEO

Kuda bank is located at Moore house, 151 Herbert Macaulay way, Yaba, Lagos, Nigeria. And 5 New street square, London, EC4A  3TW, UK.

Benefits and Features of Kuda bank

  1. Free debit card issued. Order it in the app
  2. Creating of smart budget that help you take control of your spending 
  3. See where your money goes without solving equation.
  4. 15%  interest for annual savings
  5. Definitely free fees for sending money.
  6. Buy airtime 
  7. Pay bills
  8. Payment links
  9. Kuda give 25 free transfer to other banks every month and any other further transfer cost N10 only.
All you need to start using Kuda app is your phone + kuda app + a debit card = simpler banking life.
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Here are what you are about learn about Kuda bank……
          Kuda Naira Mastercard
          App Information
          Web Payment
          Kuda overdraft loan

Kuda Debit Card

Life is easy with bank debit cards, you will be able to do simpler withdrawal at any ATM center in Nigeria without any need to go-to over the counter for cash withdrawal.

Benefits and Features of Kuda ATM Debit card

  1. You will be able to use the card at over 3,000 ATMs
  2. You’ll not pay any card maintenance again.
  3. you’ll be able to block your card when it get missed or misplaced.
  4. Free ordering fees for sending the card to your address
  5. Fast card delivery

Kuda Naira MasterCard

A Naira MasterCard is a debit card that is dominated in naira issued in partnership with MasterCard worldwide. It can also be used at any ATM worldwide, POS and to settle online purchases.
To be eligible to get Kuda MasterCard, 
  1. You will have to upgrade your Kuda account by confirming your BVN and adding a valid I.D card your Kuda profile.
  2. You must have been using your Kuda verve card frequently, because the master card will be deliverer in batches and first batch goes to those that use their verve card frequently.
Kuda Naira MasterCard will be deliver to your address free of charge and your Kuda Verve card will be deactivated immediately you get the Naira MasterCard and activate it.
The MasterCard can only be activated on Kuda app web.
  1. Sign in to Kuda app web here 
  2. Input the email and password linked to your account
  3. Click on card at the top of the page then tap [activate card]
Note – For  now, Kuda Naira MasterCard is only available in Nigeria and cannot be used in foreign country.

How to request kuda debit card

  1. Sign in to your Kuda account
  2. Click on card  [Card tab] at the bottom of your dashboard
  3. Click on request a Card
  4. Fill in your delivery address
  5. Confirm your mobile number
  6. Type in the name you want to be printed on the card
  7. Confirm your address detail and you are good to go.
It may takes two or more weeks to print and deliver a kuda card depending on queue and delivery location.

Kuda Cardless Withdrawal

You can get cash without your debit card in any ATM that enable cardless withdrawal features.

How To Use And Set Up Cardless Withdrawal?



  1. Open your Kuda
  2. Click on card
  3. Click on Cardless withdrawal
  4. Tap activate cardless
  5. Type in your Kuda card number then click add
  6. Type in the amount you want to withdraw
  7. Set up your four digit cash-out pin
  8. Input your transaction pin or use face id or confirm your fingerprint
  9. Save your withdrawal code and use it to get withdraw cash at any ATM center within 24hrs.
Note-  If you don’t use your withdrawal codes within 24hrs, it’ll expire and your money will be moved back to your account.

Kuda Naira Virtual card

Its only available to use online in Nigeria and if deleted, you will not be able to create another one.
How To Request a Kuda Virtual card?
  1. Go-to your Kuda account and tap on card
  2. Click on request a card
  3. Swipe to ”get virtual card”.
  4. Input the amount you want on the card
  5. Confirm your security checkup [transaction pin or face I’d or fingerprint].
Note – you must have at least N1000 in your account before request a virtual card

What type of ATM card does Kuda gives

At the moment, Kuda bank provide its user with Verve debit cards, Naira MasterCard and Naira virtual card.
Visa card and Dollar card are not available at the moment.
Kuda international card is coming soon, that is according to the company news and updates on their social media profile.

Kuda Bank App

Manage all you banking activities on Kuda App – digital-only bank with micro-finance banking.

Features and benefits of Kuda bank app

  1. Debit and credit alerts are free
  2. You’ll be able to order and manage card activities such as, activate, block and unblock the free debit card on Kuda app
  3. Save money automatically and get 15% interest of your savings annually
  4. No minimum balance after submitting required documents
  5. Active customer support 24/7
  6. Automatic budgeting tools for simpler money management
  7. Transfer money
  8. Pay bills
  9. Buy airtime
  10. Payment links 
  11. Cardless withdrawal

Download Kuda bank app on 

You can also visit https://app.kudabank.com to access your account on the web instead of using the app.

App info

Download – 1,000,000+ downloads
Offered by – Kuda microfinance bank
Released on – August 5, 2019

How to deposit into your Kuda account?

You can add or deposit money into your kuda account through any of the following;
  1. By adding a debit card
  2. Sending money from other bank’s app
  3. Through internet banking
  4. By USSD codes
  5. Deposit at partner’s bank [ GTBank and Zenith bank]

How to add cash or deposit at Kuda partner’s bank

  1. Go-to your Kuda account
  2. Click on add money at the top right corner on your dashboard
  3. Click on [cash deposit] then [partner bank] you prefer to use
  4. Then proceed with the instructions given by the banks.

How to add money by USSD

To send money to your Kuda account through ussd,
  1. Open kuda
  2. Click on [add money]
  3. click on [add by ussd]
  4. follow the instructions next
or add money from;
GTBANK 
*737#
ZENITH BANK
*966*amount*kuda account number#
FIRST BANK
*894*amount*acct no#
WEMA BANK
*945*acct no*amount#

Kuda Payment Link and Web Payment

Payment Link

Payment link is used to send money to another kuda user and the user claimed it using his kuda account
How To Create and Send Money With a Payment Link
  1. Click on [payment] Menu at the bottom of your Kuda dashboard
  2. Then click on [payment link] 
  3. Input the amount you want to send
  4. Create a four-digit pin
  5. Review your new payment link
  6. Share your payment link to whom you want to send money

Web Payment

This a cardless online payment method where you get a unique [Pay I.D] to pay online. The I.D expires in 10mins from the time of activation.
HOW TO USE WEB PAYMENT ONLINE
  1. When making a payment on the web through Paystack, choose Pay with bank option, then choose Kuda bank as the preferred bank to pay from, input the phone number attached to your account and input your pay id. You will get the pay id on your kuda account, tab on [payment – web payment – get Pay ID – Check-in security requirement]
  2. Go back to the web and complete your purchase
Note – the Pay ID expires in 10 mins.

Kuda is also a Microfinance bank

Kuda is a registered bank that have a microfinance banking licensed from the Central Bank of Nigeria with the registration number of RC 796975.

Kuda Loan

Kuda loan  is available automatically for those that uses their account frequently.

Kuda overdraft loan

It’s a short-term loan to support your spend account, just like borrow and pay back whenever you get paid.

Features and benefits of overdraft loan

  1. Get loan automatically when you are active on your main kuda bank account.
  2. No collateral needed
  3. No additional fees required
  4. Daily interest of 0.3% of the amount you borrow is charged.
  5. Your money will be moved back to your borrow account if you don’t spend the loan and no interest will be charged
  6. Payback happen automatically from your spend account.

Kuda bank contacts information

Website
Blog
Faqs
Physical address
Lagos office – Moore house, 151 Herbert Macaulay way, Yaba, Lagos, Nigeria.
London office – 5 New street square, London, EC4A  3TW, UK.
Support email 
Twitter
Instagram
Facebook
Linkedin

Kuda FAQs 

Is Kuda safe and legit?

Yes, Kuda bank is registered with CBN and have a microfinance banking license from the central bank of Nigeria with Rc No. 796975

Kuda sign in portal

You can sign in your kuda account here https://app.kudabank.com instead of using the app.

Kuda Technologies

Kuda bank Is a trademark of Kuda technologies which is financial institution located in Lagos.

Benefits of Kuda bank

Here are some benefits of kuda bank;
  1. You’ll be able to do 25 free transfer in a month and charge N10 for any further transfer.
  2. No physical branch is required to open account with Kuda.
  3. Kuda also gives out loans to its regular users.
  4. Free debit card is deliver to your address with ease.
  5. You will be able to create a smart budget
  6. With Kuda app, you will be able to manage all your banking activities such as ; payment of bills, buying of airtime, sending of money, saving your money, borrowing of money etc.
There are lots of Kuda bank benefits but that was just to mentioned few.

What is another name for Kuda bank?

Well, another name for kuda is kudimoney. That was its first name when the company was still a startup loan lending platform. In June, 2019, The company got full digital banking license from Central bank of Nigeria and rebranded to Kuda.

Kuda Partnership with Zenith bank

Have you been wondering why Kuda bank implement Zenith bank in all their Naira MasterCard banking activities?

“Zenith bank is our issuing partner for Kuda Naira MasterCard” said by Kuda.

Benefits and Features of Kuda’s partnership with Zenith bank

You can only withdraw cash for free of charge with your Kuda debit card at any Zenith bank ATM across Nigeria and you will be charged withdrawal fees at any other bank ATMs.

In fact, Zenith bank required Kuda to print her logo on its naira Mastercard.

Zenith bank is the payment gateway that facilitates online payments for Kuda MasterCard, therefore, you get SMS and Email from Zenith bank whenever you do any transaction or pay online with your Kuda naira MasterCard.

You can also change your Kuda MasterCard pin at any Zenith bank ATMs across Nigeria.

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