Kuda
The bank of the free
3.8(380K+ reviews)
Founded 2019Lagos, NigeriaUsers
7M+
Rating
3.8/5
Founded
2019
KYC
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About Kuda
Kuda is a licensed microfinance bank offering fee-free digital banking to Nigerians. Known for its clean app design and generous free transfer policy, Kuda has attracted over 7 million users who appreciate transparent, no-hidden-fee banking.
Features
25 free transfers per month
Spend tracking & budgeting
Savings with interest
Kuda card (Visa debit)
Overdraft facility
Bill payments
Salary advance
USD virtual card
Kuda Business POS
Kuda POS instant settlement
Business sub-accounts
Fee Structure
| transfers | 25 free/month, then N10 each |
| maintenance | Free |
| cards | Virtual card free. Physical N1,500 |
| other | POS charges: 0.5% per transaction. Kuda Business POS terminal available for merchants |
| Savings Rate | 5-8% per annum |
Pros & Cons
Pros
- No maintenance fees ever
- 25 free transfers monthly
- Clean, intuitive app design
- Good budgeting tools
- Licensed microfinance bank (CBN)
Cons
- Customer service issues reported
- Occasional app downtime
- Lower savings rate than competitors
- Limited loan products
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