The Kuda Bank has been prevalent on the lips of Nigerians. This digital bank seemed to have caught the attention of Nigerians for many reasons. First, it has provided the freedom that most commercial banks don’t seem to offer, eased internet banking, and it doesn’t impose charges on its customers.

Obviously, you are obsessed with the features mentioned above and that is why you are searching for information about Kuda Bank. In this article, we will provide you with every piece of information you need to know about Kuda Bank.

What is Kuda Bank?
Kuda Bank is a digital or online banking institution that is licensed by the Central Bank of Nigeria (CBN) to provide banking and financial-related services to Nigerians. Unlike commercial banks, this bank allows its customers to perform free financial transactions monthly.
It is purely an online bank, anyone can create an account and become a customer in a few clicks. Every Nigerian who uses a mobile phone with internet connectivity can open an account on Kuda and save money. The most significant feature of Kuda bank is that it doesn’t charge extra or high transaction fees. Unlike non-transparent and shady platforms, the management of Kuda is not anonymous. The CEO is Babs Ogundeyi and RC 796975 is the registration number of the bank.

Furthermore, they do need a physical location to provide banking services. As a customer, you can make transactions and contact the support team from any part of the world. With Kuda, anyone can transfer money to other banks, save money, pay bills, buy data and airtime and do lots more. You can even set a budget in the app, view your transactions, and monitor your spending habits. There’s no such thing as SMS charges, card maintenance fee, or account maintenance fee on Kuda Bank.

Features about Kuda Bank
They have a mobile app.
Free withdrawals.
No unnecessary bank charges.
They charge a transfer fee of N10.
Kuda debit cards can be used at over 3000 ATMs nationwide.
Kuda debit card is free.
Account creation can be done within 5 minutes.
As a customer, the maximum amount of money you can send at a go is N250,000. While the maximum amount of transaction for a day is N1,000,000 (if your account is upgraded).

Type of Accounts On Kuda Accounts
There are three types of Kuda accounts namely:
1. Lite Account
The Lite Kuda Account is the simplest you can open, you can create an account with just your full name and phone number. 2. Basic Account
The Kuda Basic Account can hold a maximum deposit of N50,000 at once, it can also maintain a balance of N300,000. The requirements for this account include full name, phone number, and BVN.
3. Premium Account
The Premium account can make a single transfer of N250,000 and it can process a transfer of N1,000,000 daily. Customers with premium accounts can withdraw over N500,000 on a POS and N30,000 at ATMs. Members are to produce their full names, phone numbers, BVN, and a valid identity card.

Conclusion
Kuda is safe and reliable. Do not express over the security of your account and account funds because all accounts on Kuda are protected with the same high-security encryption used by commercial banks. Being a digital bank, Kuda has a strong and reliable customer service team. Although they do not offer a 24/7 service, they respond to customers’ queries within a reasonable time.

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