How Kuda Protects You

We ask everyone who opens a Kuda account to give us their BVN (Bank Verification Number) and a valid ID issued by the government (driver’s license, voter’s card, national ID card or NIN slip). This helps us prevent identity fraud by confirming that everyone who uses Kuda, including you, is who they say they are

It’s mandatory for anyone opening a Kuda account to take a photo of their face during the account opening process so that we can confirm they’re opening the account themselves. This also helps prevent identity fraud.

When you’re opening your Kuda account, we ask that you create a password (with any combination of letters, numbers and special characters) to secure your account. We may ask for your password to authorise any changes you make to your account information.

Every Kuda account is secured with a unique six-digit PIN that only the account holder should have access to. You can’t use your Kuda account without first setting your sign-in PIN. Your transactions on the app are also secured with a transaction PIN, and your Kuda Card has its own four-digit PIN.

The Kuda app is enabled for biometrics (fingerprint and Face ID options) to add an extra layer of security when you’re signing in to the app or authorising transactions, if your device has a fingerprint scanner or Face ID.

When you’re sending money to a beneficiary you haven’t saved, we ask you to confirm that you’re sure you want to make the transfer. We do this to give you some time to double check that you’re not being scammed - completed transfers are almost impossible to reverse.

We send you real time alerts (in the form of app notifications and emails) for transactions on your account. This keeps you up to date on what’s happening with your money.

On the Kuda app, you can choose where your Kuda Card works - POS, online and/or ATM. If your card is missing or you suspect that it has been stolen, you can block or cancel your card on the app so that no one can use it.

3D Secure is an extra layer of security for card payments you make online. When paying with your card online, we’ll send you a code by SMS and/or email to authorise the payment.

We use the highest level of encryption to protect your personal information including your identity and confidential account details. We don’t share your information with unauthorised third parties, we would never sell your information and we don’t use your BVN to access any other bank account(s) you may have.

We insure all deposits you make into your Kuda Microfinance Bank account with the National Deposit Insurance Commission (NDIC).