Is Kuda Bank Legit and Safe to Use?

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Is Kuda Bank Legit and Safe to Use?

In this article, I address the topic, “Is kuda bank legit or a scam?” If you’re looking for an honest response to this question, you’ve come to the correct spot.

kuda bank is an excellent option when you need to make a quick transaction online without having to locate a POS or ATM. Kuda provides exceptionally high levels of financial and transaction security.

Is Kuda Bank legit?

Now you ask, is kuda bank legit? kuda bank is both legit and secure. It is monitored and regulated by CBN. Your savings are protected against fraudulent transactions.

In contrast to the majority of commercial banks in Nigeria, which impose unnecessary costs for card maintenance, credit and debit notifications, ATM application fees, etc., digital banks such as Kuda will never charge such fees and will instead help you save money.

They launched kuda bank in order to remove unnecessary bank fees and the stress associated with banking.

You can skip travelling to a commercial bank and waiting in line for an ATM card by using the kuda bank app, which has a 4.3 rating on Google Play and multiple positive reviews (Collection or application).

In Nigeria, 0 naira can be used to open a kuda bank and even apply for an ATM. You will receive the ATM two weeks after submitting your application.

Not only are all of the Kuda bank’s mobile banking services capabilities free, but they also help to save money. Every time a purchase is made, they help their customers save money.

Kuda bank’s Zero account

Even if you have no cash on hand, opening an account with Kuda is relatively simple.

To open an account with kuda bank, the following information is required:

Access to the app requires your full name, bank verification number (BVN), email address, password, optional referal code, phone number for verification, and a login PIN to open an account.

No monthly fees are charged for the card or account.

With an annual interest rate of up to 15%, it can help you create wealth.

Free text message notifications

There are no sms alert fees, which is something that sets kuda bank unique from regular banks.

If you’re looking for a means to save money without wasting your hard-earned cash to unneeded alert fees, this is an excellent alternative.

Are my funds secure with Kuda bank?

kuda bank will safeguard and protect your funds. Traditional banks utilise the same high-security encryption to protect all accounts.

Each deposit you make to your Kuda account is insured for added security.

If all banks are destroyed by a natural disaster or other incident, the Deposit Insurance Fund of the National Deposit Insurance Commission (NDIC) would compensate you with N200,000.

Has CBN licences Kuda Bank?

I’ve used it for years without trouble, plus it’s CBN and NDIC registered, which helps to insure all deposits. Currently, mobile banking and microfinance services are permitted.

Conclusion

I hope this post has answered your question on the legitimacy and security of kuda bank. Thanks for visiting my blog.

If you have any questions, please leave a comment below and I will respond.

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