Kuda Bank is a CBN-licensed microfinance bank that offers a range of banking solutions to both individuals and businesses. With only one physical branch in Nigeria, Kuda Bank is run entirely on the internet-connected phones of their customers, through the Kuda app. In this article, we will mention the only Kuda Bank branch in Nigeria as well as give you an insight into the products and services that customers can enjoy.
The list of Kuda Bank branches in Nigeria would be discussed below:
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Kuda Bank Headquarters
Address: No. 151 Herbert Macaulay Way, Yaba, Lagos State
Email ID: help@kuda.com
Phone No.: 01 633 5832 (Available between 8:00 am and 5:00 pm on weekdays)
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Kuda Bank Products and Services Offered to Individuals and Businesses
Kuda Bank caters to both businesses and individuals, providing a wide range of banking solutions through the Kuda app. In this section, we’d discuss the products and services that are available to customers of Kuda Bank.
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Kuda Bank Products and Services for Kuda Personal Accounts
Kuda Bank offers individual customers several amazing services which are accessible on the Kuda app. Before we dive into what customers with personal accounts with Kuda Bank enjoy, let’s begin with the first things first. That is, how to open an account with Kuda Bank as an individual.
The first step is to install the Kuda app from the Google Play store on your Android smartphone. If you own an iOS device, you’d need to install the app from the App Store. After the app has been successfully installed on your device, you’d proceed with the account opening process. Please note, you must be at least 16 years of age and you must have a Bank Verification Number (BVN), phone number, and email address.
With the above-mentioned requirements in place, follow the prompts on the Kuda app to open a personal account with Kuda Bank. Opening a Kuda account with just the BVN, your name, phone number, and email address restricts your account balance to N50,000.00 at a time and a maximum transfer of N50,000.00 at a time.
To remove these limits on your Kuda personal account, you have to add a government-issued ID such as your driver’s license, international passport, or national ID card, to your Kuda profile. Now you’ve gotten a Kuda account, let’s get into what services you stand to enjoy as a customer.
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Kuda Card
As a Kuda Bank customer, you can easily request a Kuda Visa Card on the Kuda app. You may pick it up at an agreed-upon location or have it delivered to your doorstep. The perks of the Kuda Card include zero maintenance fees, the flexibility of use across ATMs in Nigeria and on streaming platforms like Showmax and Netflix
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Investment with Kuda
With the Kuda app, you can easily create a trading account so you’ll be able to explore a wide range of US stocks, buy the stocks you want and earn dividends on well-performing stocks.
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Spend with Kuda
Every month, you’ll be able to make 25 free transfers to other banks with your app. With a total of 300 free transfers in a year, Kuda Bank saves you N15,000.00 in transfer fees every year.
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Save with Kuda
Customers with personal accounts with Kuda Bank are provided with a range of saving options. You may opt for the Flexible Saving Plan which lets you make regular savings or the Spend+Save package which allows you to save a percentage whenever you spend money through the Kuda app. There is also the Fixed Savings Plan which you can lock down lump sums and get up to 15% annual interest.
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Budget with Kuda
With the Kuda app, you will gain clarity on what you use your money for. The app allows you to categorise your spending according to the budget you set.
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Borrow with Kuda
If you perform regular activities with the Kuda app, you can get instant short-term loans (at 0.3% daily interest) without any paperwork. This is also known as Kuda Overdraft.
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Kuda Bank Products and Services for Kuda Business Accounts
If you are a business person there are several banking solutions tailored to business owners that you can enjoy if you open a Kuda Business account. The first step toward opening a Kuda Business account for your business is to install the Kuda Business mobile app from Google Play Store or the App Store, depending on whether your device is Android or IOS. Then, go along to create the account, using your full name, phone number, BVN, email address, and a government-issued ID card such as a driver’s license, national ID card, or international passport.
The Kuda Business account lets you create and operate multiple business accounts for your business which you can control from one admin profile. More so, the Kuda Business account makes it so easy to receive business payments wherever you are, thanks to the softPOS which allows you to receive payments with your internet-connected smartphone. There are several options with which you can receive payment from your customers using the Kuda softPOS. These include, transfers, QR Codes, USSD, cards, and Pay With Kuda.
The Kuda Business account allows you to send invoices to your customers and pay bills for your business with so much ease. Another amazing feature of the Kuda Business account is that it provides you with the opportunity to easily get CAC registration documents and Tax Identification Number (TIN) for your business through the Kuda app. After successful registration of your business with Corporate Affairs Communication, you will be able to upgrade your Kuda Business account. With an upgraded Kuda Business account, your daily transaction limit is raised to N250,000,000.00.
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Key People in Kuda Bank
In this section of the article, we would mention the people at the helm of affairs at Kuda Bank.
The key persons in Kuda Bank are:
- Babs Ogundeyi – Co-Founder & CEO
- Musty Mustapha – Co-Founder & CTO