Kuda Bank Review: How They Work And Everything You Need To know

Kuda Bank is one of the biggest fintech companies in Nigeria. It has been gaining a lot of customer base in Nigeria, that is why we choose to review them. In the course of this Kuda Bank review, we will be learning whether they are legit, their USSD code, customer care number and lots more. Without further mouthing, let us delve in.

How Does Kuda Bank Work In Nigeria?

Kuda Bank works just like every other bank in Nigeria. However, one thing that separates them from other conventional banks is that their banking operations are solely online. It is important to note that the financial transactions that occur in the Kuda bank app are licensed by the central bank of Nigeria. 

For newbies, one exciting question that will ring in their mind is: “how does Kuda bank work?” here are some interesting perks:

Kuda Bank Offers Nigerian Users A Conditionally Free Debit Card 

With the Kuda Bank app, you will get a debit card for free, and a certain amount of free bank transfers per month. 

There is no big fuss in getting a Kuda bank debit card. However, you have to, first of all, hold a balance of up to 1000 Nigerian naira before applying for one. Then, you will apply for your Kuda free ATM card to be delivered to you for free at your preferred location. 

It is important to note that Kuda bank offers two types of cards; the physical plastic ATM card and the virtual card. 

 Most of you who do not know how kuda bank works might be wondering whether the debit card is free or not. Well, here is a conditional answer for you: when you upgrade your account with your BVN and valid means of identification, you can get the card for free. Without an account upgrade, you will need to maintain a 1000 naira Kuda account balance before applying for the Kuda debit card. 

Kuda Bank Is A Non-Physical Bank That Offers The USSD Functionality

One of the things that Kuda uses to best other conventional banks is that they have a USSD functionality. You can check your account balance, and even perform robust financial transactions with the USSD code on the phone number linked to your Kuda account.

Free Transfers And Other Finance Options On The Kuda App

Every month, a Nigerian is eligible for 25 free transfers. With this app that comes with a lot of finance incentivised perks, you can save money, earn interest in savings and do lots more. Lastly, one interesting way that the Kuda bank app works are that you can use the app to enjoy loans. However, they come in the form of an overdraft. These overdrafts are short-term and need some qualifications in order to access it. 

Kuda Bank Review: Is Kuda Bank Legit?

The short answer is yes, Kuda bank is legit! According to our Kuda bank review, they are a banking app that allows Nigerians to perform financial transactions seamlessly. They offer loans, a free debit card, and a USSD banking functionality. 

Pros And Cons Of The Kuda Banking App

Everything that has an exciting perk, can have a downside. In light of this, we will be reviewing the pros and cons associated with the use of the Kuda bank app. 

Kuda Bank Pros

  • The Kuda bank app gives its users 25 monthly free inter-bank transfers. 
  • Kuda bank has integrated USSD banking functionality. 
  • Kuda bank offers a conditionally free debit card that they can bring to you on delivery. 
  • The customer service of the Kuda bank app is fast and dependable. They can help you resolve your transactional issues from within the app. 

Cons Of Kuda bank App

  • The major downside of the Kuda bank app is that they do not have a physical location in Nigeria. The only physical location is their headquarters, which is not used for banking activities, but for administrative use. 

Kuda Bank Branches In Nigeria 

As stated earlier, the only branch of Kuda bank is used for administration and non-banking purposes. They do not have branches littered all over Nigeria like most conventional banks. The only branch of the Kuda Microfinance bank according to a Google Map search is 151 Herbert Macaulay Way, Yaba 101245, Lagos, Nigeria. 

Who Owns Kuda Bank?

Kuda bank was founded by two persons namely; Babs Ogundeyi and Musty Mustapha. However, the person running the company, who is the CEO, is Babs Ogundeyi. Kuda bank was formerly known as Kudi Money and started in the London-United Kingdom. However, it is now a leading fintech company in Nigeria. 

A Review Of The Kuda Bank USSD Code Functionality

This Kuda bank review will definitely shed some light on the USSD banking functionality of this personal finance app. 

First off, it is important to note that the Kuda bank app does not have its independent USSD code functionality. However, it is in a partnership with other big-name brands in Nigeria that support the USSD banking functionality. Here is a quick bite of what USSD banking with Kuda bank looks like:

  • To transfer money to GT Bank using the Kuda USSD code, dial  *737*50*amount*416# with your Kuda phone number.
  • To transfer money to First Bank with Kuda account number, simply dial *894*amount*kuda account number# with your Kuda phone number.
  • To transfer money to your Zenith Bank account from Kuda with USSD banking, dial *966*amount*Kuda account number#.

What Is The Kuda Bank Customer Care Number?

Kuda Bank Customer Care Number?
Kuda Bank Customer Service

No matter the issue you have with the Kuda bank app, their customer support has the capacity to solve it. They do not leave their customers hanging with their issues. 

Kuda Bank Customer Care Number?

The phone number to call if you have any issues with your Kuda bank transaction is 01 633 5832. If you do not feel comfortable sending them a phone call, you can reach out to them with an email via; Email: help@kuda.com.

How To Open Kuda Account In Nigeria 

If this Kuda bank review struck you, you might want to start off your free banking journey by opening an account. Here is a quick guide on how to go about it. 

  • Head to Google Play Store or Apple Store and download and install the Kuda bank app. 
  • Follow the on-screen prompts to register your account with a few details. 
  • Input your email address and password, phone number, and gender, then tap next. 
  • Key in your phone number, and ensure that it is linked with your BVN. You will get a prompt to key in the code for verifying that the number you inputted belongs to you.
  • Head to your email inbox and verify your Kuda email address. 
  • Enjoy your Kuda banking journey.


The Kuda bank app in Nigeria is facing stiff competition with other alternatives such as Opay, Palm Pay and Jumia Pay. However, our Kuda bank review was able to point out that they stand with their friendly fees and other interesting perks. 

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