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Kuda: Africa’s bank with zero fees on transfers and maintenance.

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Kuda is the first digital-only bank in Nigeria with a standalone license by Central Bank of Nigeria. Kuda was co-founded by Baba Ogundeyi and Musty Mustapha, a former Stanbic Bank software developer in 2018 and officially lauched in 2019.

The digital-only nature of Kuda Bank, implies that they don’t have or need a physical location to provide their banking services. All you need to bank with them is a smartphone and their app.

It’s important to note that, this digital-only bank is not a mobile wallet or simply a mobile app piggybacking on an existing bank. It is an actual bank, it is just a digital-only bank. Before becoming Kuda Bank, they were known as Kudimoney. 

Kuda Bank performs services like any other bank. It allows you to open an account, send money to other bank accounts, deposit money, save money, pay bills, purchase airtime and you can also see a full picture of your spending habits. Asides being a digital-only bank, Kuda Bank has positioned itself as a bank which doesn’t charge its customer’s unnecessary fees.

What do Kudi Bank offer?

Below are some awesome benefits kuda Bank offer their customers:

Fast and easy account opening process. You can open a bank account within five minutes.

Customers can do all the KYC in the app

They don’t charge unnecessary bank charges like card maintenance fees, account maintenance fees etc.

The bank’s debit card is free and comes 1 to 2 weeks after you open your account

They charge N10 when you send money unlike other banks which charge N52.50

The maximum amount you can send at once is N250, 000, while your maximum limit for a day is N1million if you have an upgraded account

You can use their debit cards at over 3000 ATMs in Nigeria.

Withdrawals are free.

How to open an account with Kuda Bank

  1. Go to your app store and download the app.
  2. Once the app is download, launch it
  3. You will be asked to register/ open an account. Information like your BVN, phone number, email address and picture( to verify your identity) and other basic information will be required.
  4. Once you have finished the registration process, you will be given your account number and you can start transacting

If you are an existing Kuda Bank customer you can also upgrade your account by yourself anytime. To upgrade your account you will need to add government-issued identity card.

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Fin-Tech

Carry1st riding on finTech introduction

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In the a long time since its creation, Carry1st has additionally gotten a mode for carrying versatile gaming from worldwide organizations to Africa. The Cape Town-based organization understood that engineers have had issues with dispersion and payments in Africa.

They chose to tackle that by inserting a fintech option, Pay1st, on their foundation. Pay1st highlights well known payment strategies from six African nations, enabling African gamers on Carry1st to pay how they need

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Fin-Tech

Yoco raises new funding

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South African payments and programming stage, Yoco, has gotten $83 million in Series C financing, bringing the complete assets raised to date by the startup to $107 million.

The organization intends to convey the assets to foster more apparatuses that empower little miniature and medium organizations (SMMEs) flourish in the computerized economy. It likewise plans to extend past South Africa as the interest for computerized installments among African independent companies develops.

“Looking forward, this speculation will open limit with regards to us to speed up item improvement for our vendors and forge ahead our development direction in South Africa and past,

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Fin-Tech

Spotify to increase family plan

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The music and digital streaming real time feature is raising the expense of its Family Plan by $1 every month this Friday, the organization affirmed to MarketWatch on Monday. Family Plan clients  started getting messages Monday about the forthcoming value climb, which will see the month to month administration that packs up to six premium records for relatives move from $14.99 to $15.998 every month.

That is the solitary increment that American Spotify SPOT, +4.91% audience members will see for the present. Also, there will be a one-month effortlessness period for existing Spotify endorsers before they see their bills go up.

Stay tuned to Nairainvest for more investment opportunities and do not forget to subscribe to our newsletter for news at your doorsteps.

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