Based on recent regulatory requirements from the Central Bank of Nigeria (CBN), we updated our account tiers and made some changes to our terms and conditions. Here’s everything that you need to know:
We added a new account tier — Tier 2 (T2). 🆕
With the addition of Tier 2, these are the account tiers or levels on Kuda along with the required means of identification and limits as mandated by the CBN:
Tier 1 (T1)
An account with a BVN (Bank Verification Number) linked to it is on Tier 1.
Tier 2 (T2)
An account with both a BVN and an NIN (National Identification Number) linked to it is on Tier 2.
Upgrade requirement: To upgrade from Tier 1 to Tier 2, you’ll need to link your NIN to your account.
Tier 3 (T3)
An account with a BVN, an NIN, and a verified address linked to it is on Tier 3.
Upgrade requirement: To upgrade from Tier 2 to Tier 3, you’ll need to add a valid address to your Kuda profile, upload proof of the address, and give us a week or less to verify that you live at the address (more on this later).
Please, see the limits for each account tier below.
