How to open Kuda bank account step by step

by Abdulrazaq
How to open Kuda bank account

Looking for the step by step guides of how to open Kuda bank account? Please continue reading this post as we are going to explain everything about Kuda bank to you such as how to open it without BVN, how to contact Kuda bank customer care, etc.

The idea of the establishment of Kuda bank account started in few years ago when a small team of people decided to transform banking launch into a savings app for Nigerians.

Today, Kuda is even more determined and it has built a Central Bank-licensed, microfinance bank to help you get the best out of your money without overcharging you.

Kuda includes tools for tracking your spending habits, saving more and making the right money moves.

So no matter who you are or where you live in Nigeria, Kuda bank account is here because of you. Although, the technical and managing directors at Kuda bank know the pain that comes with using a regular bank account, hence, they will make things work better for everyone.

The tagline of Kuda bank account is bank of the free because when you open an account with them, you will get a debit card for free, can be able to send and send money for free, get 15% interest per annum when you save your money with them automatically.

As a matter of fact, Kuda bank account would help you get the best out of your money more cooler than some other existing Nigerian commercial banks.

See this also: top 9 best loan apps in Nigeria to use.

How to open Kuda bank account using mobile phone

Kuda is like other existing commercial banks and it is even more better and easier than some of them because everything about it can be done yourself using mobile phone at the comfort of your home.

The Kuda Account can be created using phone any where you like. To open a bank account with Kuda, you will have to download the Kuda App and sign up with your details.

Please note that before your Kuda bank account is completely created, you will have to provide Kuda with correct and valid information about yourself for your account number to be generated.

Some of your information required for opening Kuda bank account are:

  • Name
  • Phone number
  • BVN
  • Valid ID(National ID Card, Voters Card, Drivers Licence, and National Passport).
  • Must be 18 years old
  • You must be Nigerian citizen
  • Must have to use smartphone (iOS/Android) which can support the latest version of the KUDA app.
  • Must own a valid telephone number
  • You must your own personal email address
  • You must have never opened KUDA bank account in your life

Please all details and information that you are going to provide during your Kuda bank account creation, make sure they are valid and truly belong to you in case of future investigation or issue.

To open Kuda bank account on phone, please first click here to download Kuda application from Google play store on your android device or click here to download it from App store on your ios device.

Note that Kuda bank will not hesitate to give you loans if you use your Kuda account regularly.

Read this also: how to use POS machine to withdraw and transfer money.

How to open Kuda bank account without BVN

How to open Kuda bank account without BVN

There are two types of Kuda bank account which people can open depending on their size of document they have and the size of their business.

The two categories or types of Kuda bank are:

  • Basic account and
  • Full KYC account

Now, if you don’t have a BVN while you want to open Kuda bank account, then you can successfully open Kuda Basic account without using your BVN during the registration.

But please note that the advantages of the Full KYC account are more important and worthier than Basic account.

Most consequently, if you open Kuda bank account without BVN, you will have a lot of limitations on maximum single deposits and account balance.

But if you open Kuda bank account full KYC account type with full identity of yourself such as your BVN and other identity document (voter’s card, driver’s license, or international passport) you will have an unlimited daily transaction with up to #2,000,000 per transaction. Moreover, your daily transaction limit is unlimited.

To open Kuda bank account without BVN, please use the instructions below:

  1. First download Kuda mobile app from your device app store
  2. Open it on your phone and click sign up
  3. Click ”open basic account”
  4. Enter your name, email address and phone number
  5. Finally click ”Submit” tab
  6. When signed up successfully, now, add money to your account and start banking with KUDA
  7. Note: when opening any type of Kuda bank account on mobile phone, you may be requested to enter your referral code, hence, if you have any relative or friends who is already a signed up user of Kuda bank, then let him/her share you his/her referral code
  8. After the completion of your Kuda bank account, now, you can request your Kuda debit card which we have discussed below.

KUDA will give 25 free transfers every month if you sign up fully to Full KYC account using your Bank Verification Number (BVN). In the same vein, if you sign up without your BVN, you will get 2 free transfers every month.

Apart from transferring that is not free on Kuda bank account, everything such as using your account, using your Kuda Card and withdrawing cash using your Kuda ATM card are free.

Please note that each transfer costs 10 Naira.

  • If you sign up for Kuda bank account with your name and phone number, you’ll get an account limited to a maximum balance of 300,000 naira, a maximum deposit of 50,000 naira at a time and a maximum transfer of 10,000 naira at a time. And again, you won’t be able to send money to other banks.
  • If you add a government-issued ID (like your driver’s license, national ID card or international passport) to your Kuda profile, your account will still be limited but you’ll be able to send money to other banks.
  • Now, if you add a government-issued ID and confirm your BVN (Bank Verification Number), then Kuda bank will remove those limits from your account.

See this also: top best banks to open domiciliary account with in Nigeria (2022).

Kuda bank customer care number

The easiest way to reach Kuda customer care is to tap More on the Kuda app then tap Chat With Us.

You can also send them an email to help@kudabank.com or call 016335832 between 8:00 am and 5:00 pm on weekdays.

Kuda bank customer care staffs are available at any time for helping you resolve all of your banking issues. You can contact Kuda bank customer care via the following channel:

  • Phone number: 01 633 5832
  • Email address: help@kuda.com
  • Office address: 151 Herbert Macaulay Way, Yaba, Lagos, Nigeria

Does Kuda bank account issue ATM card

Yes, Kuda bank issues ATM card to you after you have completed your bank account registration with them using their mobile application.

To get a Kuda ATM card for your account, please follow the step by step guides below:

  • Sign in to your Kuda account
  • Tap Cards at the bottom of your profile.
  • Tap Request A Card.
  • Tap Get A Physical Card.
  • Enter the address where you want it to be delivered to you
  • Enter your phone number.
  • Provide the name which you want us to it to be printed on your card.
  • Finally, click ”Submit

Please note that Kuda will send you a free ATM card to your address at no cost and they will never charge you a card maintenance fee.

Most interestingly, you can use your issued ATM card to withdraw cash at over 3,000 ATM outlets free of charge. Kuda bank as a bank of free, you shouldn’t have to pay to own a debit card.

In the event that your Kuda bank ATM card get missing, you can block it on Kuda bank mobile phone so that no one can use it.

Read this also: list of all banks that female is their CEO in Nigeria.

USSD code of kuda bank

At the time of writing this article, Kuda did not get a USSD code. However, anytime it has got it, I will update here. Thank you for your understanding.

Meanwhile, you can still use the USSD code of other bank to deposit fund to your Kuda bank account.

For example, transfer money from your Zenith bank account to your Kuda bank account, then dial the USSD code: *966*amount*account number#.

To send money from your Kuda bank account other bank or pay utility bills, simply sign in to Kuda mobile application and follow the prompts.

Some important things to know about Kuda bank account

  • Kuda Bank founded by Babs Ogundeyi formerly called Kudi money. It is a Nigerian free digital only bank which was founded in 2017. In 2019, it was renamed to Kuda Bank.
  • To open a Kuda account, you must be at least 16 years old and you must have an email address and a phone number
  • Kuda bank is a bank which can be operated on mobile anytime and any where. It is licensed by the Central Bank of Nigeria with the registration number: RC 796975
  • Like regular banks, Kuda make money by using collective deposits to make investments backed by the government.
  • They make money from commission on airtime purchases and from service fees sellers pay them when people like you shop with your Kuda Card. In the future, they will make money from interest paid on loans.
  • Your money is safe with Kuda. As a matter of fact, they secure all accounts with the same high-security encryption used by regular banks.
  • For extra protection, they ensure every deposit you make into your Kuda account. If all banks are wiped out by a natural disaster or something, the Deposit Insurance Fund of the National Deposit Insurance Commission (NDIC) is required to pay you 200,000 naira as compensation.
Year established2017
CEOMr. Babs Ogundeyi
FounderMr. Babs Ogundeyi
Headquarter151 Herbert Macaulay Way, Yaba, Lagos,
Nigeria
Websitewww.kuda.com

Read this also: recharge code of all banks in Nigeria for data and airtime purchase (step by step).

How to deposit fund to your Kuda account

  • You can transfer money to your Kuda account from any Nigerian bank with a bank app or through internet banking.
  • You can also add money to your upgraded account with most debit or credit cards.
  • Tap Add Money on your Kuda dashboard and choose the Add By Card option.
  • Adding money to your account by card is free up to a total of 100,000 naira.
  • After that, they will no longer cover the third party payment gateway fee.
  • If you have cash, you can deposit it into your Kuda account at their partner banks.
  • For more information, tap Add Money on your Kuda dashboard and choose the Add By Deposit option to get instructions.
Conclusion

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Read this also: list of all international money transfer operators in Nigeria (CBN licensed).

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