Kuda Bank is a bank that has been in existence for some time now. Although, being one of the fast rising microfinance banks in Nigeria, it has been one of the organization to reckon with. Kuda Bank became very popular after people saw it as a very good opportunity to keep money away from the customary bank due to high service charge. More often that not, new users have been encouraged to create account with Kuda. Kuda has made it easier for customers to open an account with just few touches on their mobile devices. The reviews on the Kuda website encourages people who are new to Fintech take the next step in their financial future. Even being one of the biggest hasn’t stopped some new users from asking search platforms on how to open Kuda Bank account and How to make payment with Kuda Bank. This article is designed to help newbies unravel the secret in opening and making transfer payment on Kuda Bank.
Let’s begin by checking out the eligibility criteria to open an account with Kuda Bank.
Requirements of Opening Kuda Bank
Just like opening any bank account, you would need to meet up with the requirements of the bank. Here are the conditions:
1. Possess a smartphone that can access as download Kuda Bank App on Playstore
2. At least be a minimum of 18 years of age.
3. Open or Possess an active mobile number and email address.
Kuda is a bank that allows customers to be free. As regards this, they have two accounts opening option: Basic and Full KYC. The details that are required for this Basic account opening include:
2. Phone Number
3. Full Name
On the other hand, the details required for the Full KYC option include:
2. Mobile Number
4. Government Identification Number
Many people do not like using the Basic Account over the Full KYC because of the amount you can receive. For basic account, you are restricted on the kind of single deposit you receive. The benefits of both accounts is that you do not need any paperwork when applying for the opening. So, it only takes a few minutes to start enjoying the benefits Kuda enjoy.
Now that we’ve considered the requirements, let’s examine the procedures needed to open an account.
Kuda Bank Signup and Registration: How to Create Kuda Bank Account
In this section, you’ll be reading the steps needed to open a Kuda Bank successfully. Follow these steps accordingly and carefully:
Step 2: Tap Signup. To signup you would need to submit your details which include: Phone Number, Address, and Password
Step 3: Once you have provided your details with the bank, your account would be opened.
Step 4: Verify the details me confirm.
Step 5: Start using Kuda – the bank of the free!
So far, we’ve seen how to open Kuda Bank account and details about it’s requirements conditions. Let’s see the processes on how to get a Kuda Bank ATM card.
How to Get Kuda ATM Card
What is the essence of opening an account without getting an ATM card? Your guess is as good as mine. With Kuda, Kuda Bank would send a free ATM card to his location with no charges. The Kuda Bank is always issued by Zenith Bank. It is a MasterCard debit card, this means you can make payments online without stress. However, let’s see the steps required before requesting a Kuda Bank
Step 1: Login to Kuda
Step 2: Click on ‘Card’ at the bottom of your dashboard
Step 3: Click on ‘ Request A Card’
Step 4: Click ‘Get a Physical Card’
Step 5: Input your address
Step 6: Input your Mobile number
Step 7: Input the name you want to be imprinted on the card
Step 8: Verify and confirm your delivery address.
Advantages of Using Kuda Bank
Here are the benefits of using Kuda Bank. These are the benefits of using Kuda
1. There is a debit card delivery at your location each time you request it.
2. The app helps to create a budget to help you with your budget
3. It helps you develop a crystal clear vision of your finances
4. The card helps you withdraw from any POS/ ATM centers in the country.
5. Free of-charge payments for 25 times
6. No card maintenance free for life
7. Easily block your card when it gets lost.
Recall, that we’ve promised to show you how to make payments on Kuda Bank at the start of the article, the next subheading would be discussing that.
How to Make Payment with Kuda Bank to Other Bank
Of course, it is pertinent to know how to make payments with Kuda Bank to friends and family using Kuda. This article has made it possible to learn the step-by-step method of making payments to family and friends easily. Here are the steps:
Step 1: Launch the Kuda app on your phone. Click ‘ Account’
Step 2: At the bottom of the home screen, you’ll see ‘ Payment’. Tap ‘ Payment’
Step 3: After that, you’ll see ‘ Send Money’ on the new page. Tap ‘ Send Money
Step 4: Input the amount you want to transfer.
Step 5: Choose the bank you want to send the money to
Step 6: Input the bank account details
Step 7: Input your Kuda Bank PIN.
Which bank can send money to Kuda?
You are allowed to sed money to your Kuda bank with any of the following bank: Gtbank, Zenith Bank, Polaris etc
How do I receive money on Kuda?
Click on ‘ Add money’ on your Kuda dashboard. Click on ‘ Add by Card’. If you possess cash you can add it to your Kuda account by using their partner bank like Zenith Bank.
Can I send and receive money on Kuda Bank without BVN?
Kuda ask their clients to give them their BVN. Also, when registering you have to include your Valid Identification Number
What is the maximum amount for Kuda account?
On Kuda, the maximum amount allowed is 1,000,000 naira. However, to set an amount higher than that you need to contact Kuda Bank contact center.
Can Kuda reverse money?
Kuda would reverse your money if it didn’t enter the receiving bank.
Kuda Bank came into existence in 2019 and since then the trajectory of the bank has been on the high. Regardless of this, the new features and design of the app may make new users confused. However, this article has been able to touch on the way new and existing clients can know how to open a Kuda Bank account and How to make payments easily.