Kuda Bank App Review – Unveiling Mobile Banking Strategy

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Most banks exist to tie you down with charges. We’re not most banks. Kuda is designed for your smartphone, free of ridiculous charges and great at helping you budget, spend smartly and save more.

Whatever you want to do with your money, you can do it from the app. We’ll make sure it’s done better and hassle-free.

What is Kuda Mobile App About

It’s a Completely Online Bank, No paper, your account can be open in minutes.
Its meant to be a digital-only bank that runs predominantly on smartphones.

Kuda a digital-only bank based in Nigeria has secured a $1.6 million in pre-seed funding. Kuda intends to use the funds to launch live in the fourth quarter of 2019 from its beta stage. It also intends to develop the tech of its banking platform and to support its developer team across Lagos and Cape Town.

Founded in 2016 initially as a lending platform named Kudimoney before rebranding to Kuda, the platform is an online-only retail bank licensed by the Central Bank of Nigeria. Kuda offers checking accounts with no monthly fees and a free debit card. It will soon offer consumer savings and P2P payments options to users.

Is Kuda Scam or Legit

He noted that the bank built its full-stack banking software from scratch. In essence, they can accept deposits and also connect directly to the switch. The switch is a SWIFT-like system that enables bank communication and settlements.

Kuda Bank App Review

Regular banks normally charge you for things like transferring money from your account to another account with another bank. Kuda says it won’t charge you as much, or at all. Monies kept with banks (deposits) don’t exactly sit there, but they are matched to be given out as loans to those who need them now and would pay later with interest.
Alternatively, they are invested in/with businesses that provide yields from which the actual owner of the deposit gets paid a portion as interest, or gets paid nothing out of it, depending on the class of account, whether current or savings.

Kuda will technically invest the ‘retained balances’ of monies kept with them, and the yields of the investments are used to subsidize such fees like transfer charges, etc.
Everybody is happy.
Then you wonder how it’s profitable for them, but the truth is, they’re doing practically what the regular banks are doing, but with less overhead costs, because they don’t build branches that need maintenance and which they staff with employees of different pay grades, they don’t use fleets of pool cars to move their account officers around, etc. They invest ‘more’ in technology.

Kuda Referral Program

The company is currently running a promote that allows her users refer friends and earn N200 per successful referral

This application allow you To earn N200 per successful referral.
It does not require ID verification like Chipper cash.
All your referral earning will be credited to your Kuda account on Mondays.
You can redeem your referral bonus as airtime or transfer it direct to your bank account.

Kuda Bank App Registration -Login

Ogundeyi also noted that customers can open a bank account in minutes, after filling in the KYC form in the app. Kuda intends to expand in the future.

Lite– All you need is a Name and Phone Number
Basic– Name, Phone Number and BVN
Premium– Name, Phone number, BVN, Valid ID

Kuda App Download

Install an launch the app.
Now register with them using your details, phone number and email address. Join with this code: IROR4JMZ ( It is Very Important If You want To Make Money from The app)
Please add the BVN option, tap the option “Add Your BVN the app is trusted ”
Continue and add your original details.
Now take a selfie to verify your account. Click on take a self option and set your phone camera to front. Make sure that your selfie is straight to get verified easily.
After successful registration, now your Kuda account number will be shown to your.
Fund Your Account with at least N100 so that you can make money from the platform.

Kuda App vs Piggyvest vs V By VFD

*No ATM Maintenance fees
*No Cash withdrawal fees
*No transfer fees to Other banks * (*Kuda Customers get two free transfer to other banks every month. After that any transfer to other banks cost N10.)
*Free Deposits (**Kuda account holders can deposit money in over 10,000 branches across Nigeria for free.)

*Sometimes debit cards go missing. If that ever happens you can freeze your missing card on the app, and even unfreeze it if you find it later. Simple.

*Kuda’s bank-level security protects your sensitive personal information and prevents unauthorized use.

*Save as much as you want automatically and we’ll pay you up to 15% interest yearly, no excuses.
*Plan and keep track of your spending on the app with smart budgets.
*Qualify for quick loans in the near future.