Your questions, answered

Yes, we have a national microfinance banking license from the Central Bank of Nigeria. Our registration number is RC 796975.

We’re digital-first, so almost everything you’d queue up for at a traditional bank happens right on your phone. Open an account, send money, pay bills, freeze your card, or get help, all on the Kuda app. We’ll even deliver your debit card to any address in Nigeria.

We also won’t charge you unnecessary fees for banking with us and if you’d rather talk to someone in person, you can visit our branch at 1-11 Commercial Avenue, Yaba, Lagos, Nigeria.

Yes. We’re digital-first, so most things are faster on the Kuda app. If you’d rather sort something out in person, you can visit us at 1-11 Commercial Avenue, Yaba, Lagos, Nigeria.

You can also reach us at selfhelp.kuda.com, email help@kuda.com, or call 0700022555832.

You can make unlimited free transfer from your Kuda account to other Kuda accounts.

We’ll give you 25 free transfers to any other bank every month if you sign up with your Bank Verification Number (BVN) or National Identification Number (NIN).

Extra transfers will cost you 10 naira each.

We make money by using collective deposits to make investments and issue credit.

We also make money from commission on airtime purchases and from service fees sellers pay us when people like you shop with their Kuda Card.

We give overdrafts, and you’ll be eligible to take an overdraft if you use your Kuda account regularly. Term loans are launching very soon.

To open a Kuda account, you must be at least 16 years old and you must have an email address and a phone number.

If you sign up with your name, phone number and BVN (Bank Verification Number), you’ll get an account limited to a maximum balance of 300,000 naira, a maximum deposit of 50,000 naira at a time and a maximum transfer of 50,000 naira at a time.

If you add a government-issued ID (like your driver’s license, national ID card or international passport) to your Kuda profile, we’ll remove those limits from your account.

We ask you to confirm your BVN so we can be sure no one is pretending to be you.

When you confirm your BVN, we match your details with the information on the national BVN database owned by the Central Bank.

We won’t use your BVN to access your other bank account(s).

No, we don’t have a minimum account balance.

Yes, your money is safe with us. We secure all accounts with the same high-security encryption used by all banks.

For extra protection, we insure every deposit you make into your Kuda account with the Deposit Insurance Fund of the National Deposit Insurance Commission (NDIC).

We’ll deliver your Kuda Card to you anywhere in Nigeria or you can pick it up from one of our branches.

There are several ways to add money to your Kuda account:

You can transfer money to your Kuda account from any Nigerian bank with a bank app or through internet banking.

You can also add money to your upgraded account with a Nigerian debit card. Tap Add Money on your Kuda dashboard and choose the Add By Card option.

If you have cash, you can deposit it into your Kuda account at our partner banks. Tap Add Money on your Kuda dashboard and choose the Add By Deposit option to get instructions.

Yes, you can request an account statement for a specific time period.

To request an account statement, tap More on the app then tap Statements & Reports.

We’re at 1-11 Commercial Avenue, Yaba, Lagos.

The easiest way to reach us is to tap More on the Kuda app then tap Chat With Us.

You can also send an email to  help@kuda.com or call 01 633 5832 between 8:00 am and 5:00 pm on weekdays.

Kuda Business offers two kinds of accounts:

• Freelancer Account
This kind of account is for individuals running very small-scale businesses or freelancing, who need business banking services that can help them set up quickly.

• Full Business Account
This kind of account is for a fully registered company running large-scale operations that requires services to meet their extensive business needs. Kuda currently serves Business Names and Limited Liability Companies.

• Freelancer Account

To open a Freelancer account, you need the following:
• A photo of your face
• Your BVN and a valid, government-issued ID
• Detailed information about your business
• Proof of address of your business
 
• Full Business Account

To open a Full Business account with just your business name, you need the following:
• Your FIRS Tax Identification Number (TIN)
• Your CAC registration number
• Certificate of Incorporation
• CAC Registration Form – CAC BN/1
• Proof of address of your business

To open a Full Business account with as a Limited Liability Company, you need the following:
• Certificate of Incorporation
• Memorandum and Articles of Association
• Particulars of Directors – CAC 7/7A or CAC 1.1
• Particulars of Shareholders – CAC 2/2A or CAC 1.1
• Board Resolution – This document should mention the signatory (admin) who will use your Kuda Business account.
• Proof of address of your company

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.

1. Go to business.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.

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.

1. Go to business.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.

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.

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.

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.

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

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

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

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

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

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

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.

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.

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.

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.

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.

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

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

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.

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.

No, you don’t.

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

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

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.

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.

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.

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.

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

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.

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.

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

Open API provides 3rd party access to the kuda internal system by using a series of protocols, a client_id, public_key, private_key.

The Open API is very secure, before data is sent across the system, developers are expected to encrypt their data in a request to us using a protocol, and decrypt our response using the same protocols.

Open API is a collection of API services custom built for businesses who want to layer financial services onto their products/businesses offerings. The Open API is built on Kuda payment rails, it will enable businesses to do transfers, open virtual accounts and check balances programmatically.

To begin using the Kuda APIs, you will need to register a profile here. Once you register, you can start testing out the APIs in our sandbox.

You will need to be able to provide evidence of a business registration and address, utility bills and all that we can use to do a complete kyc or kyb of your business.

To access the APIs, you will need to read through our documentation here.

We do not have an option to allow developers to “test out applications”. Alternatively, you can register a profile and test out your app in our sandbox.

For the purpose of doing a full kyc/kyb, it is required that a business is registered in the country where the APIs are domiciled.

We provide APIs to allow business layer financial services on top of their businesses/products. The APIs may allow you to layer a disbursement service model as long as you are a registered Nigerian company.

At the moment, we charge for transfers (NIP transfers, transferring from Kuda to another bank)

There are really no limitations when using the APIs. We have set regulations on transfers out of a kuda virtual account.

Once you are done testing out the processes of the APIs, you will need to connect your Kuda business account number and then toggle to live.

Please visit the Kuda for business website to register your business and obtain a business account number.