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kuda Bank USSD Code for Money Transfer, Bill Payment, Deposit

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Kuda Bank - Investors King

Kuda Bank USSD code for bank transfers, sending or adding money to your Kuda microfinance bank account. 

Here is a detailed breakdown of how to use the Kuda Bank USSD Code to transfer or add money to your Kuda Bank account

Transfer money to Kuda Bank account from First Bank with USSD Code

1. Dial *894*amount*Kuda account number# from the phone number linked to the account.

2. Follow the prompts on your screen to complete your transfer.

Send Money to Kuda Bank account from Wema Bank With kuda bank USSD code

Dial *945*Kuda account number*amount# from the phone number linked to the account and follow the prompts on your screen or follow the steps below.

1. Dial *945# from the phone number linked to the account.

2. Type in 3 for Send Money.

3. Send 2 for Other Banks.

4 Type in your Kuda account number.

5. Send 9 for Next.

6. Send 1 for Kuda Microfinance Bank and complete your transfer.

To add money to Kuda Bank from Zenith Bank, GTBank and Polaris Bank using kuda bank ussd code follow these steps.

1 Open Kuda.

2. Tap Add Money on your dashboard.

3. Tap Add By USSD.

4. Type in the amount you want to send.

5. Tap the right USSD code to dial it and follow the prompts on your screen.

To add money to your Kuda Bank via Bank Deposit follow these steps

1. Open Kuda.

2. Tap Add Money on your dashboard.

3. Tap Cash Deposit then tap the partner bank you prefer.

4. Follow the instructions on your screen to deposit cash into your Kuda account at the partner bank’s branch.

To add money to Kuda Bank account with GTBank

1. Dial *737*50*amount*416# from the phone number linked to the account.

2. Follow the prompts on your screen to complete your transfer.

To send money from Kuda Bank account with Kuda Bank USSD code

Move money around, buy airtime and pay bills with the Payments button at the bottom of your Kuda dashboard.

Tap the Payments button.

Tap Send Money.

Fill in the details of the transfer.

Confirm the transfer.

To add money to Kuda Bank account with cards

Each time you add money with a credit or debit card, Kuda Bank charges a fee through a payment gateway (eg. Paystack, Flutterwave, Interswitch) that initiates the transfer between your bank card and kuda account.

However, because it is hard to trace the source of credit or debit card funds, fraudsters prefer this method to cover their tracks when transferring stolen money.

Therefore, Kuda has made adjustments to its rules for security reasons:

Rule #1: You must upgrade your Kuda account to add money with a card.

To keep everyone and their money as safe as we can, we cannot compromise on this.

Without a Bank Verification Number (BVN) and a government-issued ID, you can add money to your account strictly by transfer or cash deposits.

Tap More at the bottom of your Kuda dashboard then tap Identification to add your BVN and ID.

Rule #2: Kuda Bank will stop paying the payment gateway fee after you’ve added up to 100,000 naira to your account with a card.

This means that once you’ve hit the 100,000 naira limit for free top-ups, you’ll have to pay a payment gateway fee every time you add money to your Kuda Bank account with a card.

The payment gateway fee for local cards is 100 naira + 1.5% of the amount you’re adding.

Please, this fee isn’t from Kuda Bank but Kuda Microfinance Bank will let you know how much it is before you move money from your card to your accounts.

Cash deposits and transfers to your account are always free.

Kuda Bank will make sure we send you a message when you’re approaching the free limit.

Rule #3 — You will pay the payment gateway fee whenever you top up your Kuda account with an international card.

The payment gateway fee for international cards is 100 naira + 4% of the amount you’re adding.

If your card is from a bank outside Nigeria, you will have to pay the payment gateway fee every time you use it to add money to your account.

kuda Microfinance Bank USSD Code, Kuda Bank code, Kuda USSD transfer code.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Mobile Money Transaction Values to Exceed $870 Billion in Emerging Markets by 2026, as the Payments-as a Platform Model Accelerates

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A new study from Juniper Research has found that the total value of mobile money transactions in emerging markets will exceed $870 billion in 2026, up from $555 billion in 2021; respresenting growth of almost 60%. Mobile money in emerging markets includes microinsurance, microloans, microsavings and mobile money transfer.

This growth will be driven by the transition of mobile money vendors, such as M-PESA, to the PaaP (Payments-as-a-Platform) model. This model enables mobile money vendors to offer their users access to third-party services such as eCommerce; creating additional revenue streams. The research identified PaaP as critical to increasing revenue for mobile money vendors, as smartphone adoption and user expectations grow. The new research recommends that mobile money vendors focus on building their ecosystems now by agreeing merchant partnerships to correctly leverage this opportunity.

For more insights, download the free whitepaper: The New Wave of Fintech Innovation in Emerging Markets

Microloans Represent Fastest-growing Segment

The new research, Mobile Money in Emerging Markets: Segment Analysis, Vendor Strategies & Market Forecasts 2021-2026, found that microloans will be the fastest-growing segment within mobile money, with growth of over 180% over the next five years. The research identified microloans as a key way in which mobile money service providers can increase their revenue by delivering banking-like services.

Research co-author Damla Sat explained: “While microloans are, by their very nature, small-scale, they are growing rapidly in significance, by enabling users to access credit as financial inclusion rises. By offering these services to users, mobile money services can pre empt competition from banks, while increasing their average revenue per user; creating a virtuous circle.”

Africa & Middle East Leading Mobile Money Development

The research found that Africa and the Middle East will dominate mobile money transaction values over the next 5 years; accounting for 56% of the global emerging markets value by 2026. It recommends that vendors in Africa focus on expanding sophisticated mobile money services, such as microinsurance and microsavings, in order to best address this rapidly growing opportunity.

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Kuda Microfinance Bank, Nigeria’s Neobank Hits 2 Million Customer Milestone

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Just six months after celebrating a one million customer base, Nigeria’s leading Neobank, Kuda Microfinance Bank announced it has attained a 2 million customer milestone, even with the numerous reports that customers between 18 and 30 years of age are moving their savings to other banks because of Kuda Bank’s adherence to CBN’s cryptocurrency policy.

Founded by Babs Ogundeyi, Co-Founder & CEO, and Musty Mustapha, Co-Founder & CTO, Kuda has been on a consistent growth trajectory since 2020. Largely due to its aggressive marketing and improved overall offerings.

Speaking on the milestone, Bradley Want, Head of Growth & Analytics at Kuda said: “Nigerians seem to be more open to skipping the queues and the hassles that come with being at a physical bank. Everyone knows that it can be quite uncomfortable. We’re taking advantage of this positive change in perception by being where people are all the time and offering them the value they can’t ignore.”

He added that the digital-led bank was also recently in the news for winning the coveted ‘Neobank of the Year’ award at the 2021 BusinessDay BAFI (Banking and Financial Institutions) Awards.

According to him “Kuda picked up that prize just weeks after winning the ‘In-House Legal Team of the Year’ award at the 2021 ESQ Nigerian Legal Awards. The bank’s Head of Legal, Dolapo Akinola, also received an individual ‘40 Under 40’ honour at the same event.

On the back of these successes, Kuda has rolled out its independent Visa debit cards, both physical and virtual, with free delivery nationwide.”

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Jack Dorsey’s Square Undergoes Name Change, Now Referred to as Block

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Block

Jack Dorsey, the co-founder of Twitter stepped down as the Twitter CEO only a few days ago, and a few days later announced a huge name change for Square. The company which is highly payment-focused will now be referred to as Block, which underlines Dorsey’s interest in the cryptocurrency scope.

Twitter Chief Technical Officer Parag Agrawal was called upon to take Dorsey’s place on the very popular social network, although Jack will remain on the Twitter board until at least the next shareholders’ meeting. There were speculations at the time of Dorsey’s resignation that he had prioritized Square over Twitter.

Jack Dorsey had been operating as the CEO of both Square and Twitter, and had been encouraged to step down from at least one of the companies.

Dorsey is a public supporter of bitcoin, as well as other cryptocurrencies. He recently announced a new business initiative for Square known as TBD5456697, in which the company will deliver decentralized financial services. After this, Jack’s decision to step down from Twitter makes sense given all the existing buzz around blockchain and cryptocurrency.

Square’s name change to Block is also quite logical, considering that the blockchain is the fundamental technology that will power some of Square – now Block’s – businesses. It’s not only the TBD, but also the crypto initiatives and Square payments.

In a press release, the company stated that the new name has a lot of associated meanings which include building blocks, a blockchain, neighbourhood blocks and their local businesses, communities coming together at block parties with music, a section of code and obstacles to overcome.

This name change is similar to what happened with Facebook and Meta, except this one does not come with any negative press. Facebook’s name change was announced by Mark Zuckerberg and others in the middle of a huge scandal concerning the ‘toxicity’ of the company.

However, just like Meta, Block will be a controlling entity over several other businesses. Block will oversee Square, Cash App, Tidal, and the new TBD54566975. There will be no organizational changes and the businesses will not lose their brands. Square’s payment services will still be offered, just like Facebook still exists as a social network.

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