Opay vs Kuda: Which is Better?

Heavyweight Fintech companies such as Opay and Kuda are doing great when it comes to making individuals perform seamless transactions. The transaction they offer is very stress-free. Talking about stress-free, Opay may argue that it helps people create an account in the comfort of their rooms. Kuda too is not left out! They perform transactions that are almost without charge. In order not to digress from our bone of contention, let us take an extensive look at the statement – Opay vs Kuda: which is the best?

Opay vs Kuda: Loan

When talking about loans or offering credit facilities, one looks at the interest attached to it. Right? The interest rate of Opay is quite lesser than that of Kuda Bank. Ever since Opay integrated Okash into their facility, loans, and credit have been made possible through this. The interest rate as stated earlier, plays a big role. Opay interest charge is quite high but when compared to Kuda it is nowhere close. Opay has a fair interest charge and it is better than Kuda when they’re compared.

Kuda, on the other hand, offers customers the opportunity to withdraw more than what it is in their account. However, this is only limited to qualified customers. This opportunity would only be granted to people who have been using the application for quite a period. This period has not been stipulated by Kuda. It depends solely on the – conditions and requirements. Moreover, you can also get loan facilities from Kuda Bank.

Opay vs Kuda: Security

Security is one of the most important factors when considering which fintech organization to operate. The two companies are doing great in this regard. Kuda and Opay have been one of the most securitized platforms when it comes to transactions. Your transaction is in safe hands when banking with this organization.

For example, Opay and Kuda both possess Payment Card Industry Data Security Standard (PCI DSS). This compliance form is very powerful. This form enables Fintech Companies like Opay and Kuda to follow a security protocol to maintain a secure environment. Also, when you as a customer try to login into both apps, you are assured of safety because you are required to input your PASSWORD or PIN. Also, like Opay you can authorize transactions by using your fingerprints. Isn’t that wonderful?

Your funds cannot be snatched by these companies, they’re are under the Nigerian Deposit Insurance Company (NDIC).

Opay vs Kuda: Feedback

In terms of Feedback, one can easily say Opay edges it just a bit. That is not to say that Opay does not have glitches in its application. In fact, for Opay, after reading some reviews in the app, the system is not all that perfect. For example, most customers made a complaint regarding the network speed. Network speed is important because it helps the rapidity of transactions. If a network speed is not great, it might not quickly confirm a particular transaction.

Kuda too isn’t exempted from this. There are many issues concerning the app. The network speed, notifications, and likes are the most talked about by users. However, that shouldn’t stop you from using the app. The most interesting part about Kuda Microfinance Bank is that it responds to its complaint almost immediately.

Opay vs Kuda: Application Functionalities

The applications found on both apps are interesting.

Opay app has five different models of savings one can use depending on your economic status. For example, if you’re a low earner there is a space there where you can easily deposit a percentage of your fund there every period. Also included in the accessibility is Okash. Okash which is an offshoot of Opay performs the function of giving out loans and credits to customers. Also, they have other features of the app which include:

Cashbacks on Airtime Bill

Point of Sale (POS) Service

Virtual and Physical card

Kuda Microfinance Bank also has some outstanding features. When talking about features, one of the incredible characteristics is the way all their transaction is debit card or credit card.

Also, other features include:

With their ATM, you can withdraw from over 3,000 withdrawal terminals nationwide.

25 free transfers to other banks every month.

Create a budgetary plan to help you gain cost control.

ALSO READ: How To Create Kuda Bank Account And Make Money In Nigeria

Opay vs Kuda: Transfers Fees

When talking about transfer fees, I think no one comes close to Opay. If you were told you can make over 20 free withdrawals without charges of any sort, would you believe it? Kuda Microfinance Bank makes that dream possible! With Kuda, you are assured of making transfers to individuals or banks without charges. After you have exhausted your 25 free transfers, you would then be charged a token of 10 naira for every transfer till the month ends.

Of course, Opay isn’t left out of the transfer charges. For Opay, you are charged nothing for every transfer. The most fascinating part is that no matter the amount you send you won’t be charged a naira for it. Also, as stated earlier, you get to authorize your payment with your fingerprint.


What bank is better than Kuda?

Kuda’s famous competitors include Fairmoney, Opay, and Aladdin. Talking about Fairmoney, Fairmoney is a banking organization that offers a platform to small and medium organizations to finance their financial needs.

What is the highest amount Opay can receive?

One can receive up to five million naira daily only if you’re an Opay merchant.

Is Kuda Bank Trustworthy?

Kuda is a trustworthy bank. They’re excellent in their services. Their application and website are regulated by the Apex body, CBN. The company has amassed over 1.5 million customers in recent years which is scaling up to 8/10 in rating.

Is Kuda working with EFCC?

Kuda Microfinance Bank 2021 released a statement on ‘Accusing of Reporting Clients to EFCC’. Kuda Bank informed the general public that it would report its client found to be engaged in Cryptocurrency.

Can I open Kuda Bank without BVN?

Kuda Bank asks customers to submit their BVN and also a valid Identity Card. Also, sometimes a Driver’s License, Permanent Voters Card, or National Identity Number (NIN).

Which bank owns Opay?

Opay is owned by a Chinese billionaire mogul, Yahui Zhou. He owns the Opera Mini browser. It has become one of the main substitutes for the bank to bank transfers, bill payments, etc.


Both organizations are very pragmatic. Kuda and Opay try to satisfy customers’ obligations. Even with that, clients are not satisfied. The more the customer base of a platform, the more the challenges of a firm. Regarding, Opay and Kuda, they both make incredible changes regardless of their increased size.

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