By offering remittance services to Nigerians residing in the UK, the Nigerian fintech firm Kuda has announced its entry to the UK.
The firm announced its plans to expand to additional African nations including Ghana and Uganda in 2022 after it obtained a $55 million Series B financing in 2021.
Kuda has opted to debut in the United Kingdom as part of a significant worldwide expansion effort, despite the fact that expansion to these nations has not yet taken place.
The firm was created in 2018 by Babs Ogundeyi and Musty Mustapha to provide financial services to Africans both within and outside of the continent.
The business expects to soon provide direct debits and local transfers to Nigerians in the UK as a result of this development.
In the end, Kuda is creating a one-stop shop for Africans, encompassing additional services other than remittances, said Ogundeyi. And our strategy applies to all Africans, not just those in Africa. The first “outside of Africa” location is the United Kingdom. We want to go to other African nations and increase our remittance services for local clients as well as the diaspora market.
Kuda bank is a Nigerian digital-only bank. The startup was founded in 2016 by Babs Ogundeji and has since then acquired over 1 million customers. The question on many people’s minds is: is kuda bank legit? In this blog post, we will explore the legitimacy of kuda bank and whether or not you should trust them with your money.
Contents
What is Kuda Bank?
Kuda Bank is a digital bank that offers a range of banking services, including a mobile app and a debit card. It was founded in 2016 by Babs Ogundeji and Timi Ajiboye. Kuda Bank is based in Lagos, Nigeria.
Is Kuda Bank Legit?
Yes, Kuda Bank is a legitimate bank operating in Nigeria. It is licensed by the Central Bank of Nigeria and is a member of the Nigerian Deposit Insurance Corporation.
Pros and Cons of Kuda Bank
Kuda bank is a digital-only bank based in Nigeria. It offers a free bank account with no monthly fees, and gives users the ability to send and receive money, shop online, and pay bills. Kuda also has a mobile app that allows users to manage their accounts on the go.
While Kuda Bank may be a good option for some, there are also some drawbacks to using this digital bank. First, Kuda Bank is not yet available in all Nigerian states. Secondly, Kuda does not have physical branches or ATMs, so customers will need to use another bank’s ATM if they need cash. Finally, Kuda’s customer service is only available online, so customers will need to be comfortable communicating via email or chat if they encounter any problems.
How to Open a Kuda Bank Account
Opening a Kuda bank account is simple and can be done entirely online. Here’s what you’ll need to do:
1. Go to the Kuda website and click “Get Kuda”
2. Install and open the mobile app on your phone
3. Enter your personal details including your full name, email address, and phone number
4. Choose a unique username and password for your Kuda account
5. Select the type of account you’d like to open – either a savings or current account
7. Enter the amount of money you’d like to deposit into your account
8. Verify your identity by providing some additional information such as your date of birth and residential address
9. Once everything is complete, you’ll be able to start using your Kuda account!
Conclusion
Ultimately, only you can decide whether or not Kuda Bank is legit. However, we hope that this article has given you some food for thought and helped you to better understand the risks and rewards associated with this new digital bank.
