Is Kuda a registered bank?
Yes, we have a microfinance banking license from the Central Bank of Nigeria. Our registration number is RC 796975.
How is Kuda different from other banks?
Kuda is a digital-first bank, so almost everything you would queue up for at a traditional bank happens right on your phone. Open an account, send money, pay bills, freeze your card, or speak to our customer services team, all in the app. We'll even deliver your debit card to any address in Nigeria.
Because we run lean and skip the heavy overhead of a branch-on-every-corner model, we can afford not to charge you ridiculous fees and to pay you more interest than most banks. And if you ever want to speak to someone in person, you can visit us in-branch too. We have a physical branch in Lagos, and one opening in Abuja soon.
What fees do you charge?
We’ll give you 25 free transfers every month if you sign up with your Bank Verification Number (BVN) or NIN (National Identification Number).
Extra transfers will cost you 10 naira each. A ₦10 transfer fee applies
7.5% VAT is charged on the ₦10 fee only, not on the transfer amount
If you make a transfer of ₦10,000 or more to another account, you’ll be charged the ₦50 stamp duty as instructed by the Central Bank Of Nigeria
How does Kuda make money?
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.
Do you give loans?
We give overdrafts, and you’ll be eligible to take an overdraft if you use your Kuda account regularly and have a good credit score.
What do I need to open a Kuda account?
To open a Kuda account, you must be at least 16 years old and you must have an email address and a phone number.
What kind of account will I get?
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.
Once you add your NIN, and a valid utility bill and we complete physical address verification, we’ll lift the limits on your Kuda account.
Why do you need my BVN?
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).
Is there a minimum balance?
No, we don’t have a minimum account balance.
Is my money safe with Kuda?
Yes, your money is safe with us. We secure all accounts with the same high-security encryption used by regular banks.
For extra protection, we insure every deposit you make into your Kuda account.
If all banks are wiped out by a natural disaster or something, the Deposit Insurance Fund of the National Deposit Insurance Commission (NDIC) is required to pay you 200,000 naira as compensation.
Does Kuda have a physical branch I can visit?
Yes. Kuda is digital-first, so you can do everything in the app, but we also have a physical branch you can visit at 1-11 Commercial Avenue, Yaba, Lagos.
We're opening our second branch in Abuja in 2026. You can also reach us on Self Help at selfhelp.kuda.com, via email at [email protected], or by phone on 0700 022 555 832.
How will I put money in my 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 most debit or credit cards. Tap Add Money on your Kuda dashboard and choose the Add By Card option.
Adding money to your account by card is free up to a total of 100,000 naira. After that, we will no longer cover the third party payment gateway fee.
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.
What is Kuda's Swift Code?
Currently, you can only send or receive money in naira with your Kuda account, so we don't have a Swift Code. However, if you need to send money using a Sort Code, here are the details:
Sort Code: 9-50211-15-1
Bank Code: 50211
Will I get account statements?
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.
How Do I Recovery My Kuda Account
If you created a Kuda Account before but don’t remember the details, you can now easily recover it and start transacting again. To learn how to do this, please click here
How Can I Change the Phone Number on My Account?
To change the phone number on your Kuda account, please visit the bank where you registered your BVN to update your phone number first. Once that’s done, complete the process in the app 24hours after. Please click here to see more
Please note: As required by the Central Bank of Nigeria, we can only add a new number to your account if it’s already linked to your BVN or NIN.
Where’s your office?
We’re at 1-11 Commercial Avenue, Beside The E-Centre, Sabo, Yaba, Lagos.
What should I do if I need help?
The easiest way to reach us is to tap More on the Kuda app and then tap Chat With Us.
You can also send an email to [email protected] or call 0700022555832 between 8:00 am and 5:00 pm on weekdays.
How can I log into my Kuda account when I've forgotten my Gmail password?
To sign in to your Kuda account, use the email you registered with and your Kuda password. If you’ve forgotten your Gmail password, please reach out to Google Support for help.
If you can access your Gmail but can't remember the password you used for your account, please click here to see the password reset steps.