An updated guide to avoiding imitators of Kuda.
Scammers are running wild, stripping unsuspecting people of their money.
To help you differentiate imitators with bad intentions from the Kuda you love, we’ve put together some red flags, facts and eye-openers.
Please, pay close attention.
1. Kuda is not on Telegram, WhatsApp, 2go (or Tinder).
If anyone contacts you on any of these apps claiming to be us or from us, block them immediately.
Also, don’t join any online forum or group chat claiming to represent us even if the profile picture used is the Kuda logo (more on logos later).
2. We don’t give loans by email, text…
The challenger bank for Africa has gained significant traction since its beta launch in September 2019.
London — February 19, 2021
Kuda Technologies, the digital-led challenger bank for Africa, recently revealed that its Android app has been downloaded over 1 million times.
The London-headquartered startup, which launched in Nigeria in 2019 and operates under a microfinance banking licence from the Central Bank of Nigeria, has witnessed significant growth since the beginning of the COVID-19 pandemic having firmly positioned itself as a safe alternative to brick-and-mortar banks at a time when social distancing rules have made visiting banking halls a challenging experience.
The latest from Kuda.
We have news, the good kind, but first, how was your week?
Ours started with a token of our appreciation to you for standing with us in January, and we hope you’re enjoying your 25 extra free transfers.
So, what’s new with Kuda?
Virtual Cards Are Real
We know this particular feature has been a long time coming but we’re quite excited that you can now create a virtual Kuda Naira Mastercard on the app!
Virtual cards are free to create on Kuda and they work online in Nigeria.
Everyone is entitled to one virtual card. If you delete yours…
Three ways COVID-19 may be altering perspectives on money in Nigeria.
The second wave of COVID-19 is sweeping across Nigeria, possibly giving deniers a rethink that maybe, just maybe, this disease that is recorded to have taken millions of lives around the world is quite real after all.
Somehow, it feels like the first half of 2020 is happening all over again but things are not exactly the same.
Last year’s wave caught many people mentally and financially unprepared.
We have since learnt and, hopefully, adjusted our behaviour or at least reconsidered how we live.
While we’d love to remind you that stocking up on masks and hand sanitisers is now…
You’re not this careless person.
Let’s act like you don’t care about red flags, warnings and appeals to look out for yourself and your money.
That’s probably not you but let’s assume it is.
This is what that version of you would do.
1. You’d believe a text message that isn’t from us.
Even though we’ve never sent you information about your account by text message, you’d follow the instructions in a random SMS and get into trouble.
The fact: For now, we send credit and debit alerts as push notifications and we send account statements by email.
2. You’d assume that we give loans…
How to avoid recycling last year’s bad money habits.
Happy New Year, for the hundredth time.
(The greeting doesn’t get old till around March or when the last Christmas decorations have disappeared, whichever comes first.)
Like they always do at this time of the year, resolutions are trending. But maybe setting such goals is not your thing.
Don’t worry, we understand.
Resolutions are notoriously hard to keep anyway, so rather than try to nudge you toward making them, we’re suggesting something different: anti-resolutions.
As the name hints, anti-resolutions are the opposite of grand New Year goals.
Let’s break it down a bit further with an example.
First, think of…
Three things you must never share with anyone to protect your Kuda account.
We’ll say this plainly, it’s the time of the year when scams go viral and people get swindled.
But that’s not going to be you because you’re careful and you pay attention.
We previously sent you some red flags and pointers to look out for, but criminals are clever and you must stay several steps ahead of them.
This is a reminder.
If anyone asks you for any or all of these details, they’re up to something:
1. Your Kuda login details.
That’s your password and your login PIN. These two, like everything else we’re about to mention here, are…
A change to our social media profiles and a scheduled Kuda upgrade.
This will only take a minute or two.
We’re making a couple of changes this weekend and like we always do, we’re giving you a heads-up.
What’s In A Username?
To help clarify our corporate identity in Nigeria, we’ve updated the usernames on our Twitter and Instagram accounts to Kuda MFB (short for Kuda Microfinance Bank).
Our handles remain @kudabank (and our personality has definitely not changed).
You can still tweet us whenever you like and we’ll reply you with answers or our favourite emoji (you know the one).
Stepping Up Services
In case you missed the app notifications we…
The Central Bank’s ‘new’ rule and how it affects your money.
The rumour making the rounds is that you (and the rest of us) will now be charged for failed debit transactions.
Um, no. That’s not right.
Let’s break down the facts.
1. Yes, there is a charge.
But this charge is for failed direct debits, not all debit transactions.
You won’t be charged if a bill payment, airtime (or data) purchase, outward transfer, ATM withdrawal or card payment fails. 🚫
You get the picture.
2. A direct debit needs your permission.
For a direct debit to be made on your account, you have to give your bank a written and…
The next phase of our journey begins now.
In a year that has been particularly trying for most people including myself, I am humbled by the fact that Kuda has raised $10 million in seed round funding from some of the world’s most respected institutional investors led by Target Global, with participation from Entrée Capital and SBI Investments.
The Kuda journey began with what seemed like an impossible mission: To give all Africans on the planet access to the best banking services at prices they can comfortably afford.
With determination, a team of dedicated people and a lot of faith, we have taken several steps toward making that…
