Kuda Bank Review: Is Kuda Bank Legit?

Kuda Bank’s Advantages

The following are some of the essential advantages of choosing Kuda Bank

Account Opening: Kuda Bank prides itself on offering an easy account opening process.

The bank provides three tiers of accounts based on the information you provide: Lite, Basic, and Premium.

The flexibility caters to a wide range of customers, allowing them to choose the level of identification they’re comfortable with.

Services and Offerings: Kuda Bank offers two primary account types: personal and business accounts. The personal account is designed to empower users to save, spend, borrow, and budget their money efficiently.

It includes a free Kuda debit card and eliminates maintenance fees.

The business account, on the other hand, extends its benefits to business owners with features like bulk bank transfers, higher transaction limits, and account management tools.

Customer Care and Communication: While Kuda Bank operates primarily online, they ensure customer support through various channels.

These include live chat through their app, a comprehensive help center on their website, a dedicated phone line, and an email address for inquiries.

Their physical location in Lagos further reinforces their commitment to customer service.

Transfers and Fees: Kuda Bank offers users the convenience of 25 free domestic transfers each month, beyond which a nominal fee is applied per transfer.

The bank stands out by offering no hidden charges for top-ups, bill payments, online spending, or ATM withdrawals.

Also, their transparent fee schedule ensures users understand the costs associated with their transactions.

Read: How Do You Block Your Bank Account When Your Phone Is Stolen?

Savings and Financial Management: Kuda Bank’s app empowers users to save through flexible, fixed, and spend-and-save options.

The budgeting feature helps users plan their finances effectively, setting them on the path to financial freedom.

Additionally, the bank provides microfinance loans with reasonable terms, enabling users to access short-term credit seamlessly.

Now let’s get into answering “Is Kuda Bank review: Is Kuda Bank legit or not?”.

Kuda Bank Review: Is Kuda Bank Legit or Not?

Kuda Bank is a digital financial platform founded by Babs Ogundeyi and Musty Mustapha.

The brand leadership comprises individuals with a vision to help individuals prevent unnecessary bank charges and simplify financial transactions for individuals.

Babs Ogundeyi serves as the CEO, driving the bank’s mission to enhance customer experience through seamless digital services.

What affirms Kuda Bank’s legitimacy is the fact that the bank – Kuda proudly boasts its status as a registered and licensed digital bank, overseen by the Central Bank of Nigeria.

This significant endorsement provides a solid foundation for their legitimacy. It was previously established in 2019 as Kudimoney, the bank rebranded as Kuda, with an aim to reshape traditional banking norms.

Their operations have garnered trust from millions of Nigerians, despite their relatively short period of existence.

Another thing that affirms the legitimacy of Kuda Bank is the number of downloads from app stores such as Google Play and Apple app store.

In these two platforms, the bank got mixed reactions from both satisfied and unsatisfied customers.

However, despite the mixed reaction, Kuda Bank has a 4-star rating, a confirmation that ascertains the legitimacy of Kuda Bank.

Is Kuda Bank Legit Or Scam?

Just as I’ve mentioned earlier, As Kuda Bank has been existing a while now and doing really great in the financial industry.

This bank has already proven itself as a legitimate bank but it’s important the customers abide by every term and condition to avoid any glitches while using the app.

FAQs On Kuda Bank Review: Is Kuda Bank Legit Or Scam?

Here are some frequently asked questions related to the Kuda Bank review, “Is Kuda Bank legit or scam” with answers respectively:

Is Kuda legit or scam?

Kuda Bank is definitely a legitimate digital bank in Nigeria founded by Babs.

It is fully registered and licensed by the Central Bank of Nigeria (CBN), making it a reliable and regulated financial institution you can go for.

What are the disadvantages of Kuda Bank?

While Kuda Bank offers numerous benefits, some potential disadvantages include its primarily digital presence, limited physical branches, and the need for an internet connection to access services.

Additionally, as with any financial institution, users should be mindful of potential transaction fees and limits.