AdminDo you want to open an account with Kuda Microfinance Bank? Check this out. This article reveals a complete guide on how to open Kuda Bank account online. Keep reading!
Kuda Bank is a Nigerian virtual bank which was formerly called Kudi Money. It is Nigeria’s only free digital bank which was founded in 2017. The name was changed from Kudi Money to Kuda Bank in 2019. It was founded by Babs Ogundeyi.
Kuda Bank is known for not charging bank fees and it earned a significant support from the END SARS protesters in 2020 due to their contributions to the protests.
Kuda customers get 25 free transfer charges to other banks every month. Extra transfers to other banks cost ₦10 each.
Kuda Bank customers can deposit funds in over 10,000 branches across Nigeria absolutely for free, no hidden charges. Banking with Kuda is actually flexible and easy, they designed a banking app for your busy lifestyle.
Kuda also gives you a free debit card the first time you order for it (i.e no delivery fee). That’s all you need to make the right moves with your money, no stress.
Requirements For Opening Kuda Bank Account
The requirements for opening Kuda Bank account are listed below;
- A prospective customer must not be less than 18 years old.
- A passport photograph
- A valid means of identification
- A smartphone (Android/iPhone) that supports the latest version of Kuda Bank App
- An active phone number
- A valid email address
Here’s How To Open Account With Kuda Bank Online
Follow the steps below to open an account with Kuda Microfinance Bank online:
Step 1: Download the Kuda Bank App from your respective App store
Step 2: Open the app and click on “Start” on the homepage
Step 3: Read and accept the terms and conditions and proceed
Step 4: Input your email address and password you wish to use
Step 5: Confirm your email address by entering the code sent to your inbox
Step 6: Enter your first name, last name, BVN etc.
Step 7: Take a clear selfie of yourself and proceed
Step 8: Input your contact address and submit
Step 9: Your account will be created shortly, and you’ll be able to see your account details on your dashboard
Step 10: You’ll need to secure and confirm your 4 digit transaction pin
Step 11: To be able to add and send money, you’ll need to verify your identity by uploading a scanned copy of your means of identification, and inputting the identification number for verification
Step 12: You’ll need to input a few more details about yourself and how you’ll use Kuda Bank
Step 13: There are different tiers on Kuda Bank with different transaction limit. To perform certain transactions, you’ll need to increase your transaction limit by answering a few questions
Step 14: Your Kuda Bank account is all set up and good to go
Code To Open Kuda Bank Account On Phone
Since Kuda is a virtual bank, and it is a digital only bank, unfortunately there is no code to open an account with the bank on through USSD banking service. You’ll have to do whatever you want from their Bank App.
If this ever changes in the nearest future, we will definitely let you know by updating this post with the relevant information.
In Conclusion
Kuda Bank gives you uttermost freedom in terms of banking. They help you help you get the best out of your money, no strings attached.
Simply follow the guidelines in this article to open Kuda Bank account online today.
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