1. What kinds of accounts does Kuda Business offer?

Kuda Business offers two kinds of accounts:

2. What are the requirements for opening a Kuda Business account?

To open a Full Business account with as a Limited Liability Company, you need the following::

3. How do I open a Freelancer account on my phone?

1. Download the Kuda Business app on your app store.

2. Tap Sign up with Kuda if you have a personal Kuda account or tap Sign up with email if you don’t have a personal Kuda account.

3. Follow the prompts on your screen.

4. Tap Freelancer Account on the app dashboard.

5. Fill in the required details.

6. Review and submit your application.

4. How do I open a Freelancer account on a browser?

1. Go tobusiness.kuda.com/get-started

2. Click Sign up with Kuda if you have a personal Kuda account or click Sign up with email if you don’t have a personal Kuda account.

3. Follow the prompts on your screen.

4. Click Freelancer Account.

5. Fill in the required details.

6. Review and submit your application.

5. How do I open a Full Business account on my phone?

1. Download the Kuda Business app on your app store

2. Tap Sign up with Kuda if you have a personal Kuda account or tap Sign up with email if you don’t have a personal Kuda account.

3. Follow the prompts on your screen.

4. Tap Full Business on the app dashboard.

5. Fill in the required details.

6. Review and submit your application.

6. How do I open a Full Business account on a browser?

1. Go tobusiness.kuda.com/get-started

2. Click Sign up with Kuda if you have a personal Kuda account or click Sign up with email if you don’t have a personal Kuda account.

3. Follow the prompts on your screen.

4. Click Full business.

5. Fill in the required details.

6. Review and submit your application.

7. Why is my Full Business Account application pending after submission?

Your application is pending because we’re reviewing your information. We’ll let you know if your application is approved or not in the next 72 working hours.

8. Can a business owner have more than one signatory to an account?

A business account can only have one primary signatory/admin. This signatory or admin has to be the business owner, a director of your company, or someone authorised by the company or business to run the account. The admin can add teammates to operate the account on their behalf.

9. Can I change my personal Kuda account to a Kuda Business account?

No, you can’t. You’ll need to open a separate business account. However, you can use your personal Kuda account credentials to open a Kuda Business account much faster. Please, note that you’ll have to sign in to your personal and business accounts separately.

10. Can I make foreign transactions with my Kuda Business account?

No, you can only make local transactions with your account.

11. Can I be given a loan as a small business?

Yes, you can. Please, send your loan request to sales@kuda.com.

12. Can I open multiple Kuda Business accounts?

Yes, you can.

Note: You can open just one Freelancer account, but you can open multiple Full Business accounts.

13. Does Kuda Business assign account officers to customers?

No, we don’t assign account officers to customers but our customer service team is available to attend to you.

14. Will I be charged a fee for opening a Kuda Business account?

No, opening a Kuda Business account is free, but you might need to pay a legal search fee when opening a Full Business account.

15. Does Kuda charge an account maintenance fee on corporate accounts?

No, we don’t charge an account maintenance fee at the moment.

16. Can I use Kuda Business if I haven’t registered my business with the CAC?

You can open a Kuda Business Freelancer account if your business isn’t registered with the CAC. To open a Full Business account, you’ll need to register your business name or company with the CAC.

17. What are the minimum and maximum daily transaction limits?

There’s no minimum limit for transactions, but there’s a daily limit of 10 million naira on the Freelancer account. The Full Business account has a daily transaction limit of 250 million naira.

18. What are the minimum and maximum single transaction limits?

There’s no minimum single transaction limit, but there’s a limit of 5 million naira per transaction on the Freelancer account. The Full Business account has a limit of 25 million naira per transaction.

19. Can I send money to more than one person at the same time?

Yes, you can. You can use the Multiple Transfer feature to send money to up to twenty people at once on the Kuda Business mobile and web apps. If you need to send money to more than twenty people, you can use the Bulk Transfer feature on the Kuda Business web app.

20. Can I pay salaries with Kuda Business?

Yes, you can use the Kuda Payroll feature or the Payroll with Bento feature to pay salaries. Kuda Payroll currently supports payments to Kuda accounts exclusively while Payroll with Bento supports payments to all banks. You can use these features only if you have a Full Business account.

21. How do I add money to my Kuda Business account?

To add money to your Kuda Business account, make a transfer from any Nigerian bank account or use USSD.

22. How do I change my Kuda Business password?

You can change your password easily by using the password reset option on the Kuda Business mobile or web app.

23. What is a board resolution?

A board resolution is a resolution passed in a board meeting authorising certain people in a company to open and operate a bank account for the company.

24. How do I submit a board resolution?

You’ll upload a copy of your board resolution on the Kuda Business mobile app or web app when you’re opening a Full Business account.

25. Do I need to submit a reference to open a business account?

No, you do not.

26. Can I update my company’s registered address on the Kuda Business app?

No, you can’t, but you can send an address update request to business@kuda.com.

27. Can I change or update my company’s name on the Kuda Business app?

No, you can’t, but you can send a company name update request to business@kuda.com.

28. How do I request my bank statement?

1. Sign in to your Kuda Business app, then tap More.

2. Tap Account Statement.

3. Choose a timeframe for your statement, then choose a format for the statement - a PDF file or an Excel spreadsheet.

4. Tap Get and we’ll send you your account statement by email.

29. Can I add my employees or team members as users and what is the maximum number I can add?

Yes, as the account admin (primary signatory), you can add other users to your account. You can also manage the access level that other users have. There’s no limit to the number of users you can add.

30. Can I create sub accounts on Kuda Business?

Yes, you can create up to five sub accounts at a time on Kuda Business. Sub accounts are useful for managing your finances - you can easily allocate money for different uses to different sub accounts.

31. What is Kuda Business POS?

Kuda Business POS is a suite of products that help businesses get paid easily. It includes a physical POS terminal and Virtual POS - a dedicated account number that makes it easy for salespeople to confirm transfers instantly.

32. What do I need to get access to Kuda Business POS?

To get access to Kuda Business POS, you need to open a Full Business account.

33. I have a Full Business account. How do I access Kuda Business POS?

To access Kuda Business POS on the Kuda Business mobile app, follow the steps below:

1. Sign in to the Kuda Business mobile app.

2. Tap Hub on the app dashboard, then tap POS.

To access Kuda Business POS on the Kuda Business web app, follow the steps below:

1. Sign in to the Kuda Business web app here.

2. Tap Hub on the app dashboard, then tap POS.

34. What is the POS Dashboard?

The POS Dashboard is a feature on the Kuda Business mobile and web apps for managing and monitoring your POS terminals, viewing your POS transaction history, and generating POS transaction reports.

35. How do I track my sales with the POS Dashboard?

You can track your sales and monitor your business performance all on the POS dashboard.