How Kuda Protects You

Your Identity Documents

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.

Your Facial Identity

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.

Your Password

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.

Your PINs

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.

Biometrics

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.

Confirming Your Unsaved Beneficiaries

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.

Transaction Alerts

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.

Card Control

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 (3DS) Card Payments

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.

Your Personal Information

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.

Insuring Your Money

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

If you make an insurance claim on a deposit and the claim is successful, the Deposit Insurance Fund of the NDIC is expected to pay you up to 200,000 naira in compensation.

Frequently Asked Questions

If you’re not sure you made a card transaction you were charged for, please block your card on the app immediately.

Before you reach out to us about the transaction, please take these steps:

1. Confirm that the merchant or vendor’s name isn’t actually correct. Some merchants use a different name on their POS terminals or online payment gateways. Search for the name on the transaction online to be sure.

2. Confirm that you haven’t subscribed to any free trial that has expired and become a paid subscription.

3. Confirm that you don’t have any recurring online payments that you’re charged for automatically. You may have added your card to one or more apps that charge you at regular intervals eg. Netflix, Spotify or Apple Music.

If you’re still not sure about the card transaction, please call 01-6335832 or send an email to fraud@kuda.com or help@kuda.com

Get the app now, dump bank fees for good.

It only takes a few minutes to start enjoying free benefits. Download Kuda on Google Play or the App Store.