How to open kuda bank account. With the introduction of Kuda Bank into the Nigeria banking system, the bank has gained a lot of popularity among bank operators and a lot of individuals want to start banking or using Kuda Bank for their financial transactions.
Is on this note that we write this article in order to give you a vivid and detailed step-by-step way on how to open kuda bank account.
Before you start operating or using the Kuda bank app, you must have a Kuda bank account. Therefore, we will give you a detailed explanation and the procedure to follow to successfully open, completely register, and obtain your Kuda bank account number.
Kuda Bank is one of the most used, efficient, and effective online banking platforms so far in Nigeria. Kuda Bank has its head office in London, UK, which started operations in Nigeria in the year 2017.
Kuda bank was founded by two gentlemen, Babs Ogundeyi and Musty Mustapha, in the year 2016, and has its headquarters in London, United Kingdom.
Who can open kuda bank account?
To be able or eligible to open a kuda bank account, there are some criteria that you must meet. Such criteria are stated below
- To be eligible for a Kuda bank account, you must be 18 years of age or older.
- Be an indigene of Nigeria or any country that has given the approval to operate the Kuda banking platform.
- You must have an Android or iPhone smartphone.
- should have an active email address and phone number.
- And you have never opened a Kuda bank account before with the same phone number.
- Also make sure you have a bank verification number (BVN) and valid ID cards such as a driver’s license, voter’s card, national ID card, or international passport.
If such information is available, then you are good to start the kuda account opening process.
How to open kuda bank account
Kuda bank is one of the best online banking platforms that offers the needed convenience to its customers as banking is made easier with Kuda bank. Therefore, having a Kuda bank account is the best decision you can make.
Below are the steps to follow to successfully open a kuda bank account.
- First of all, to open a Kuda bank account you need to download their app from the Google play store or the IOS store for Apple users.
- After you successfully downloaded the app, open it and click on “Sign Up.”
- Fill in all the required information such as name, phone number, email address, password, and BVN and upload the required document such as an ID card as mentioned above to verify your account.
- Upon completion of your registration, Kuda Bank will generate a 10-digit account number for you, which you can use for your transactions.
Account levels in kuda bank
There basically three account levels in kuda bank. The account levels are associated or proportional to the information you provided during your registration and it determined the kind of transaction you will be allowed to perform.
Below are the levels of the kuda bank account
- Lite level: This is the lowest level of a Kuda bank account. At this level, the only information needed is your name and phone number to open the account. Note that these levels have some limits on the kind of transaction you can do.
- Basic level: At this level, the information they require to open an account at this level is your name, phone number and your bvn.
- Premium level: the premium level is the highest level of a Kuda bank account. To upgrade your account to this level, you need to submit your name, phone number, BVN, and a valid ID card.
Advantages of using kuda bank
Kuda bank offers a lot of benefits to its users. Apart from offering convenient banking, kuda bank also offer a lot of advantages or benefits which are stated below
- Kuda bank offers free three times withdrawals from its partner bank ATM per month.
- They also offer 25 free monthly bank transfers to any of their 3000 partner banks.
- Kuda bank also gives overdraft short-term loans.
- No hidden charges or monthly card maintenance fees.
- They also offer a 15% deposit interest rate on saving and lots more.
Kuda bank fees
Kuda bank offers free money deposits or transfers up to 25 times in a month after which they debit 10 Naira per transfer to any bank but only if you are operating at the premium level.
They also offer a free card withdrawal from its over 3000 partner banks for up to three times a month, after which a charge of 35 Naira per withdrawal is deducted.
In this article, we were able to successfully discuss in detail how to open kuda bank account. We also saw their prices, charges fees and also the benefits or advantages of using kuda bank.