Do you know you can open a Kuda bank account online without any paperwork or visiting any bank branch?
Kuda Microfinance Bank is one of the full-service leading digital banks in Nigeria, which allows its customer to assess banking services completely online from anywhere in the world.
Table of Contents
Is Kuda Bank Safe to Use
Kuda Bank offers all the services expected of a modern bank and more with relative ease and is registered in Nigeria with the Corporate Affairs Commission (RC 796975) and licensed by the Central Bank of Nigeria.
Your funds in Kuda microfinance bank are safely insured by the Nigeria Deposit Insurance Corporation (NDIC). In the United Kingdom Kuda bank services are offered by Kuda EMI (Electronic Money Institution)Ltd (Company No. 13724208).
Kuda Electronic Money Institution is a distributor of Modulr FS Limited(Company No 09897919), which is regulated by the UK Financial Conduct Authority for the issuance of electronic money under reference 900573.
kuda microfinance bank has physical offices/workplaces in Nigeria and the United Kingdom. In Nigeria, Kuda microfinance bank has a registered address at 151 – Herbert Macaulay Way, Yaba, Lagos, Nigeria.
While in the UK the registered address is at number 5 New Street Square, London, EC4A 3TW, United Kingdom.
You can easily open a Kuda bank account online via the Kuda bank app without any paperwork and the account becomes operational immediately.
Good Features of Kuda Bank
- Completely digital, no paperwork is required to open a Kuda bank account on the phone.
- Supports free virtual Kuda Visa cards for online transactions.
- Pays referral bonus when people open bank accounts with your referral code.
- No monthly card maintenance fee is charged and users have 25 free interbank funds transfers per month.
- Pays 15% interest every year on savings.
- Withdraw cash payments from over 3000 ATM machines free of any charge with a physical Kuda visa card.
- Supports foreign currency accounts such as GBP accounts (British pound sterling). However, you will require a UK address and Identity card to open a Kuda bank account that accepts British pound sterling.
Open a Kuda bank account online today. Open a Kuda bank account on the phone today. Open a Kuda bank account online today.
How to Open a Kuda Bank Account on the Phone
Follow the steps below to open a Kuda bank account on your phone via the Kuda bank app (The money app for Africans)
Step 2. Launch the Kuda bank app.
Step 3. Click Open An Account. If you already have a Kuda bank account then tap on Sign in.
Step 4. Select NGN Account and click next. If you have a valid UK address you can select GBP Account (British pound sterling)and click next.
Step 5. Fill in your Email address and type in an 8-letter password in the text box provided and click next.
A verification code will be sent to your email for email verification. Copy the code and paste it into the text box provided.
If you did not get the verification code simply click on Resend code then check your email inbox and spam for the code.
Step 6. Fill out the online personal information form provided.
Information required will include Name(legal last name, legal middle name and legal first name), gender and date of birth. Then tap next.
Step 7. Type your phone number in the box provided and click next. A verification code sms(text message)will be sent to the phone number you used. Copy it and paste it into the text box provided.
Step 8. Create A Username; type your preferred username in the text box provided.
If the username you choose is not available then simply choose another one to continue. Once you are done congrats you have created a Kuda profile. Then click on continue.
Step 9. You will see the Welcome to Kuda page on your screen. Tap Sign in and enter your email address and password.
Step 10. Create a Passcode to sign in to your account securely and tap okay. Please don’t share your Kuda passcode with anyone.
Step 11. You are now on the Get Started Kuda page. Under Set up your Kuda profile Tap Create An Account, select NGN Account (Nigerian Naria) and tap Next.
Step 12. You will see the requirements to create a Naria Kuda bank account. This includes A valid Address ( actual house address, not a P. O. Box) and a selfie ( a clear photo of your face in a well-lit room). If you have these requirements then click I have these.
Step 13. Fill out the online House Address Form provided. Information required includes your State, City, House Number and Street Name then click next.
Step 14. Take a selfie, the AI will check if you took the selfie correctly. then click done
Step 15. You will see Your account is under review. Click Okay
Step 16. You are back to the Get Started Kuda page. Under Set up Your Kuda profile click More About You, then select what you to use Kuda for. From the options provided, you can choose more than one option. then click next.
Step 17 Answer the following questions:
- What is your primary source of income? choose from the options provided and click next.
- How much do you earn per month? choose from the options provided.
- Choose your employment status from the options provided and select the industry from the options provided and click next.
- Where do you work? Fill out your company Name and company city and click next and you are done.
Step 18. You are back to the Get Started Kuda page, Under Set up Your Kuda Profile click Secure Your Account.
On the How to Secure your Account page click Secure your account. Then you will see a page explaining the meaning of your Kuda app passcode and Kuda bank account transaction PIN. Click I understand.
Step 19. Type in and confirm your preferred transaction PIN and click okay. Then your dashboard will appear. Congratulations.
Step 20. Scroll down on the Kuda mobile app home page and click Add your BVN. Enter your BVN in the text box provided and click okay. Your Identity will be verified.
To increase your daily transaction limit click on Increase Your Limit. To do this you will need a valid ID card or document and a clear video record of your face. If you have these ready, click verify me.
Then click start, select your Country from the options provided then select the Identity card/document you want to upload.
Snap a picture of the ID card as instructed and click okay. Your ID will be verified if successful, your daily transaction limit will be increased, however, if it’s declined you repeat the process.
Step 21. Fund your Kuda bank account.
Note: You can open a Kuda bank account online without BVN (Bank Verification Number), however, your daily financial transactions will be very limited.
You can receive a daily transfer of N50,000 to the account up to a maximum of N300,000, but you cannot make any funds transfer or financial transaction without linking your BVN with the account.
It is recommended to open a Kuda bank account online with BVN in order to enjoy the unique features of Kuda digital bank.
How to Find Your Kuda Bank Account Number
After opening your Kuda bank account online, you will need your Kuda bank account number to receive funds. To find your Kuda bank account number follow the steps below.
Step 1. Launch your Kuda bank app.
Step 2. Click on Add Money.
Step 3. Click on Bank Transfer, then your Kuda microfinance account details will appear.
How to Get Kuda Bank App Referral Code
Getting your Kuda referral code and using it to open a Kuda bank account online for others, will earn you a referral bonus from Kuda bank. Open a Kuda bank account online today.
To get your kuda bank app referral code, follow the steps below:
Step 1. Launch the Kuda bank app and sign in.
Step 2. Navigate to the right border of the bottom of your screen and click on More.
Step 3. Click on the Referral code and your Kuda bank app referral code will be displayed on the left side of the bottom of your screen with an option to share it via various social media channels.
How to get Kuda Visa Card
Kuda Bank supports virtual and physical visa cards (debit cards).
The virtual card is suitable for online transactions while the physical card is suitable for both ATM, POS and online transactions.
You need a minimum of N1000 in your account in other to order and use the Kuda debit card. Open a Kuda bank account online today.
To get a Kuda Visa card to follow the steps below:
Step 1. Launch the Kuda bank app.
Step 2. Click on Get Card on the right top border of your screen.
Step 3. Click on Get A Virtual Card or Get A Physical Card. The physical Kuda visa card will be couriered to the customer’s location.
Note: The Kuda visa card issuing fee is N1000 and the delivery cost for a physical card depends on the delivery location.
Open a Kuda bank account online today. Open a Kuda bank account on the phone today.
How to use a Virtual Kuda Visa card
To use the virtual Kuda debit card follow the steps below:
Step 1. Launch the Kuda bank app and sign in.
Step 2. Go to the bottom of your screen towards the right border next to More.
Step 3. Click on Cards then click on Show Details to see and use your Kuda visa card details for online transactions. Open a Kuda bank account online today, to get a Kuda debit card.
Explore How to open a bank account online.