How Does Kuda Work

In recent years, financial technology has revolutionized the way we handle our money.

One such innovation is Kuda, a digital banking platform that has gained significant popularity in several African countries.

With its user-friendly interface and convenient features, Kuda has become a go-to choice for many individuals seeking hassle-free banking solutions.

In this article, we will explore how Kuda works and the benefits it offers to its users.


Kuda is a digital-only bank that operates primarily through its mobile application.

It is designed to provide a seamless banking experience, enabling users to manage their finances conveniently from their smartphones.

Unlike traditional banks, Kuda does not have any physical branches, which allows them to offer cost-effective services and pass the savings onto their customers.

Account Creation and Verification

To get started with Kuda, you need to download the Kuda app from the Google Play Store or the Apple App Store.

Once installed, you can sign up for an account by providing your personal information and verifying your identity.

The verification process typically involves submitting your identification documents and taking a selfie for facial recognition purposes.

Features and Services

Kuda offers a range of features and services that cater to the diverse needs of its users. Here are some key highlights:

• Zero Fees

Kuda aims to make banking affordable for everyone by offering zero fees on transactions such as transfers, card maintenance, and ATM withdrawals.

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• Budgeting Tools

The app provides budgeting tools and spending insights that help users track their expenses, set financial goals, and save money more effectively.

• Instant Notifications

Kuda sends real-time notifications for every transaction, ensuring that users are always aware of their financial activities.

• Savings and Investments

Kuda allows users to create savings goals and automatically save a certain amount from their income. Additionally, it offers investment opportunities through partnerships with other financial institutions.

• Airtime and Bill Payments

Users can conveniently purchase airtime, pay bills, and make transfers to other bank accounts within Nigeria using the Kuda app.

• Card Control

Kuda provides users with the ability to freeze and unfreeze their debit cards instantly, ensuring enhanced security and control over their funds.

Security Measures

Kuda prioritizes the security of its users’ accounts and employs various measures to protect against unauthorized access and fraud.

These include two-factor authentication, biometric login options, transaction limits, and encryption technologies.

Additionally, Kuda is licensed and regulated by the Central Bank of Nigeria (CBN), which further ensures the safety of users’ funds.


Is Kuda a licensed bank?

Yes, Kuda is a licensed bank in Nigeria and operates under the regulation of the Central Bank of Nigeria (CBN).

Can I use Kuda if I don’t have a smartphone?

Unfortunately, Kuda is a digital-only bank and requires a smartphone to access its services. It is recommended to have an Android or iOS device to use the Kuda app.

Are there any fees associated with Kuda?

Kuda does not charge any fees for most transactions, including transfers, card maintenance, and ATM withdrawals. However, there may be certain fees associated with specific services, such as international transfers.

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Can I earn interest on my savings with Kuda?

Yes, Kuda offers interest on savings held in the Kuda app. The interest rate may vary based on prevailing market conditions.

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