Kuda bank review (is Kuda bank legit?)

Kuda bank review (is Kuda bank legit?)

Kuda bank review (is Kuda bank legit?)

Read all about Kuda bank in this Kuda bank review.

Traditional banks have certainly made our lives easier, from making transfers easy to providing different ways for us to do simple things like pay bills, recharge lines, pay subscription and many more.

With these advantages, comes the disadvantages like unusually high charges on transfers, bill payments and more. Step in Kuda bank.

Kuda bank is Nigeria’s first mobile only bank that is licensed by the central bank of Nigeria. Kuda bank comes in with many amazing features, like zero card maintenance fees, free transfers, automatic savings and more.

Kuda bank is registered and licensed by the Central bank of Nigeria (CBN) and their registration number RC796975. It is headed by CEO Babs Ogundeyi.

Kuda bank is mobile first and they have no physical bank to carry out transactions. This means that all its transactions are carried out on mobile.

In this Kuda bank review, am going to be writing about everything you will need to know about Kuda bank, as well as answering some questions that you may have.

Remember to leave us a comment after you finish reading and also share with your friends on social media.

Let’s get into it then…

Read my post on Bundle Africa

What is Kuda bank?

Kuda bank is Nigeria’s first mobile only bank that is licensed by the central bank of Nigeria. Kuda bank comes in with many amazing features, like zero card maintenance fees, free transfers, automatic savings and more.

Kuda bank started some few years back as Kudimoney, their aim was to solve the numerous problems that users had with traditional banks.

They later changed their name to Kudabank, and grew their team to help them achieve their goal.

Kuda bank is registered and licensed by the Central bank of Nigeria (CBN) and their registration number RC796975. It is headed by CEO Babs Ogundeyi.

Kuda bank is mobile first and they have no physical bank to carry out transactions. This means that all its transactions are carried out on mobile.

This is particularly great for people who do not like the physical activities involved in going to the bank, especially those very long queues.

The only disadvantage of this, is that if you don’t have a smart phone, then you can’t open a Kuda bank account or carry out transactions.

Kuda bank charges

With the Kuda bank app, you get next to zero charges. Traditional banks will charge you for almost any transaction you carry out (inter/intrabank transfer charges, SMS alert charges) and even charge a maintenance fee for your card.

Many people have been complaining about the amount of money they lose to bank charges each month. Kuda bank has therefore reduced it to the barest minimum.

Kuda bank does not charge card maintenance fee, SMS alert charge and also allows each user up to 25 free transfers every month. Cool right?

Kuda bank has predicted that it will save its customers up to 1,312.5 naira every month and 15,250 naira every year.

How does Kuda bank make money?

Kuda bank makes money like your normal bank. They use your bank deposits to make risk free investments that is backed by the government. They also make money when you use shop with their card.

Kuda bank account opening/registration

You can easily open a Kuda bank account easily in Minutes, after filling the KYC form on the app. The following are different account levels:

  1. Lite: All you need for this account type is your name and phone number.
  2. Basic: All you need is your name, phone number and bank verification number (BVN).
  3. Premium: All you need is your Name, phone number, Bank verification number and Valid ID card.

On the premium account, you can easily transfer 250,000 naira maximum at ago, with maximum transfers per day reaching 1million naira while the value stands at 500,000 on a POS.

Kuda bank customer care

Kuda bank customer care is also very active, and although it is not 24/7, they are pretty swift when it comes to replying customer requests.

Kuda bank app download

Kuda bank is optimized for mobile users, it is available for both android users and of course IOS users. All you have to do is to visit your app store, search for Kuda bank app, download and install into your phone.

The rest is easy.

Read my Roqqu app review

Kuda bank referral

Kuda bank has a referral system that pays you 200 naira for every user that you refer and that signs up with your referral code.

Is kuda bank legit/safe?

Kuda bank is safe. It is properly licensed by the central bank of Nigeria and has the registration number of RC 796975.

They use the same protocols that regular banks use to protect all your transactions on the app, so you should have no fear using it.

Frequently asked questions (FAQs)

Who is the owner of Kuda bank?

Kuda bank is headed by CEO babs Ogundeyi. He had his tertiary education at Brunel university, London, and has used majority of his career in working in the boundaries of financing in the private and public sectors in Nigeria.

Is Kuda bank legit?

Kuda bank is safe. It is properly licensed by the central bank of Nigeria and has the registration number of RC 796975.

They use the same protocols that regular banks use to protect all your transactions on the app, so you should have no fear using it.

How to get the Kuda bank app?

Kuda bank is available for both android and IOS users, all you have to do is go to your respective app store, download and install it. Very easy.

Read my post on Vrend

Conclusion

Kuda bank is definitely a welcome innovation. For those who don’t appreciate bank charges and also would rather carry out all transactions on mobile, then Kuda bank is for you.

Another interesting thing about Kuda bank is that they will deliver your card directly to your doorsteps. No bank does this.

Thank you for reading my Kuda bank review. If you have any question or comment, you can leave it below in the comment section.

Remember to share with your friends on social media and also subscribe to this blog for more quality updates.

Thank you for reading once again.

 

 

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3 thoughts on “Kuda bank review (is Kuda bank legit?)

  1. Kuda bank is saying my bvn or my date of birth is wrong and they are both correct . Please how do I correct this . Its really giving me problem. I have money in the account already but I can’t do anything with it,😭I need help. Urgently

  2. Kuda bank is very good. I have been using them for a long time now without any issues.

  3. Kuda bank scam me I have 5k in my account but they are telling me insufficient I swear am going to expose them to social media they are thief

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