Kuda Bank Review: 5 Ways it Differs from Traditional Banks

Kuda bank was formerly known as Kudimoney until they changed to Kuda bank in 2019 and got licensed by CBN. And has ever since released their mobile app on android and apple devices.

Kuda bank is a mobile-only bank. That should ring a bell as many of us are not familiar with banks with no physical address yet has all the functions of tradition banks. Almost everything is done on the mobile app.

This Kuda bank review will highlight ways the mobile-only bank is different from  our traditional brick and mortar banks, its benefits and why you should give it a try.

Get this straight, Kuda bank still relies on the existing structures to operate  like the use of BVN and automated teller machine (ATM).

kuda bank

Kuda Bank Review

The experience using the Kuda bank app is pleasant even though the app is in it beta test. For me everything worked fine even though some few people have problems with using the app as I have read.

Kuda Bank Founder

The Founder of Kuda bank is Mr. Babs Ogundeyi.

Kuda bank Address

Moore House, 151 Herbert Macaulay Way, Yaba, Lagos.

Kuda Bank Contact

You can reach their customer care line on +2349032200350 and through email with help@kudabank.com.

5 Ways Kuda Bank Differs from Traditional Banks

  • All bank transactions are on the mobile app. Account opening, depositing, transferring etc are all done on the mobile app.
  • ATM card is given free without charge.
  • First 25 transactions in a month are without charges.
  • No monthly maintenance fee.
  • No physical structure serving as a banking premises.

That is it with what to expect from Kuda bank, you can go ahead and download the app. Click HERE to download the app.

Using the bank is divided into 3 tiers: Lite, Basic and Premium.

Lite registration requires Name and Phone number. Basic registration requires Name, Phone number and Bank Verification Number (BVN). Premium registration requires Name, Phone number, BVN and Valid ID (national ID or Driver’s license).

Have any question? Please use the comment box.

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