How to Use Kuda for Daily Banking: A Beginner’s Guide

How to Use Kuda. Let’s talk about managing money. It can be a bit of a headache, right? Especially with traditional banks and all their complicated processes.

But what if I told you there’s a simpler way? A way that puts banking right in your pocket, making it easier than ever to handle your daily finances? I’m talking about Kuda, a digital bank that’s changing the game.

This article is your complete walkthrough on how to use the Kuda app. Whether you’re just starting out or looking to get more out of it, we’ll cover everything from setting up your account to using all the cool features.

We’ll talk about how to use the Kuda app for everyday transactions.

Think of this as your friendly handbook to navigating the Kuda app and making the most of what it offers. We’ll explore the ins and outs, making sure you’re comfortable using it for all your banking needs.

So, whether you’re curious about how to use the kuda app for sending money to friends, paying bills or just keeping track of your spending, this guide is for you.

What is Kuda?

Kuda is a digital bank that operates entirely through its mobile app, making it accessible to users without the need for physical branches.

Launched in Nigeria, Kuda aims to provide a seamless banking experience by eliminating common banking fees and offering innovative features tailored to the needs of modern users.

The key features and benefits of using Kuda include:

No Monthly Fees: Unlike traditional banks that impose monthly maintenance fees, Kuda offers free banking services.

Free Transfers: Users can enjoy up to 25 free transfers to other banks each month, making it cost-effective for regular transactions.

User-Friendly Interface: The Kuda app is designed with simplicity in mind, allowing users to navigate effortlessly through various features.

Automatic Savings: Kuda encourages saving by allowing users to set up automatic savings features that help them save as they spend.

Customer Support: The app provides 24/7 customer support, ensuring that help is always available when needed.

Getting Started with Kuda

Before diving into daily banking with Kuda, it’s important to understand how to get started with the app.

Creating a Kuda Account

To open a Kuda account, follow these steps:

1. Download the App: Search for “Kuda” in your device’s app store (available on both iOS and Android) and download it.

2. Sign Up: Open the app and click on “Sign Up.” You will need to provide personal information such as your name, phone number, and email address.

3. Verification: After entering your details, you’ll receive a verification code via SMS. Input this code to verify your phone number.

4. Set Up Your Profile: Create a secure password and set up your profile by following the prompts in the app.

5. Complete Your Profile: You may need to upload an identification document (like a national ID or driver’s license) for verification purposes.

Downloading the Kuda App

The Kuda app can be downloaded from Google Play Store for Android devices and Apple App Store for iOS devices.

Simply search for “Kuda” and follow the installation instructions.

Navigating the Kuda App

Once you have installed the app and created your account, it’s time to familiarize yourself with its interface.

Overview of the App Interface

The Kuda app features a clean and intuitive dashboard that provides an overview of your account balance and recent transactions. Key sections include:

Dashboard: Displays your current balance and quick access to essential functions.

Transactions: View all incoming and outgoing transactions in one place.

Savings Features: Access different savings options such as “Save Frequently” and “Spend+Save.”

Settings: Manage your account settings, including security features and personal information.

How to Use Kuda App for Daily Banking

Now that you understand how to navigate the app, let’s explore how you can use it for daily banking tasks.

Making Transactions

1. Sending Money Within the App:

Open the Kuda app and navigate to the “Transfer” section.

Enter the recipient’s details or use their Kuda username if they are also a user.

Input the amount you wish to send and confirm the transaction by entering your PIN or using biometric authentication.

2. Transferring Money to Other Banks:

Select “Transfer” from the main menu.

Choose “To Other Banks” and enter the recipient’s bank details (bank name and account number).

Confirm all details before completing the transaction.

3. Free Transfers:

Remember that you can make up to 25 free transfers each month. After that, each transfer incurs a small fee of ₦10.

Saving with Kuda

Kuda offers several innovative saving features designed to help users manage their finances effectively.

1. Saving Features Overview

How to Use Kuda for Daily Banking: A Beginner’s Guide

Save Frequently Pocket: This feature allows users to create specific “Save Pockets” where they can automatically save a percentage of their income or spending.

To set this up, navigate to the savings section in the app and follow prompts to create a new Save Pocket.

Spend+Save Feature: This feature allows users to save a portion of every transaction automatically.

For example, if you spend ₦1000 on groceries, you might choose to save ₦100 from that transaction automatically into your savings pocket.

2. Managing Your Finances

Effective financial management is crucial in today’s economy, and Kuda provides tools that help users stay on top of their finances.

3. Budgeting Tools

Kuda includes budgeting features that allow users to track their spending habits. Users can categorize their expenses and set monthly budgets.

The app provides insights into spending patterns, helping users make informed financial decisions.

4. Interest on Savings

Kuda offers competitive interest rates on savings accounts compared to traditional banks.

Users can earn interest on their savings, which helps grow their funds over time. The interest rates are generally higher than those offered by conventional banks, making saving more rewarding with Kuda.

How to Check Account Number on Kuda App

To check your account number on the Kuda app, follow these simple steps:

Open the Kuda app on your smartphone and log in with your details.

Tap your profile picture located at the top left corner of the screen.

Scroll down to see your account number displayed below your name.

Alternatively, you can check it by selecting “Add Money,” then “Bank Transfer,” where your account details will appear on the screen.

How to Change Profile Picture in Kuda App

To change your profile picture in the Kuda app, follow these steps:

Open the Kuda app and log in to your account.

Tap your profile picture at the top left corner of the screen.

If the option to change your picture is not available, you may need to contact customer support for assistance, as this feature might be temporarily disabled.

For further guidance, you can also check Kuda’s help center or their official support channels

How to Change My Name on Kuda App

To change your name on the Kuda app, follow these steps:

Open the Kuda app and log in to your account.

Tap on your profile picture at the top left corner of the screen.

Select your name and look for the option to edit it.

If you cannot change it directly in the app, you may need to contact customer support or send an email to support@kuda.com with your request for a name change.

Ensure to provide any required identification documents if requested.

How to Borrow Money on Kuda App

To borrow money on the Kuda app, follow these steps:

Open the Kuda app and log in to your account.

Tap on “Borrow” from the main menu.Select “Get your Overdraft.”

Enter the desired loan amount and click “Done.”

Verify your identity using your transaction PIN, face ID, or fingerprint.

Confirm the transaction by tapping “Okay.”

Once submitted, Kuda will review your application, and you will receive a notification regarding approval or denial shortly after.

How to See My Bvn on Kuda App

To see your BVN on the Kuda app, follow these steps:

Open the Kuda app and log in to your account.

Tap on the “More” option at the bottom of the screen.

Select your name at the top right corner.

Scroll down to “Identification.” Here, you can view if your BVN is verified or not.

If you haven’t added your BVN yet, you can do so by tapping on the option to add it and following the prompts to input your details.

Accessing Kuda’s Customer Support

If you encounter any issues while using the Kuda app or have questions about its features, customer support is readily available:

You can access help directly through the app by navigating to the support section.

Contact options include live chat support within the app or sending an email for assistance with more complex issues.

Kuda’s Security Features

Security is paramount when it comes to banking apps. Here’s how Kuda keeps your account secure:

Biometric Login: Users can enable fingerprint or face recognition for quick access without needing passwords every time.

Two-Factor Authentication (2FA): This adds an extra layer of security by requiring a second form of verification when logging in or making significant transactions.

Keeping your account secure involves regularly updating passwords and being cautious about sharing personal information online.

Conclusion

Using Kuda for daily banking offers numerous advantages including no fees on transactions, easy money management tools, and competitive interest rates on savings.

By understanding how to use all features available in the app, from sending money easily with just a few taps to setting up automated savings, you can take full control of your finances.

Explore all that Kuda has to offer; it could very well transform how you manage your money.

Frequently Asked Questions

1. What do I need to open a Kuda account?

To open a Kuda account, you’ll need a valid ID (like a national ID or driver’s license), a phone number for verification, and an email address.

2. Are there any fees associated with using Kuda?

There are no monthly fees or minimum balance requirements. You get 25 free transfers each month; after that, transfers incur a small fee of ₦10 each.

3. Can I use USSD codes with Kuda?

Yes! You can use specific USSD codes provided by Kuda for quick access to certain services if you’re unable to use the app at any time.

4. How does saving work in the Kuda app?

You can create Save Pockets for specific savings goals or use features like Spend+Save where a portion of every transaction is automatically saved into your designated pocket.