Kuda Bank is a digital bank that was founded in 2019 by Babs Ogundeyi and Musty Mustapha. It is a licensed microfinance bank in Nigeria and is also available in the UK. Kuda offers a variety of banking services.
- Account opening and management
- Deposits and withdrawals
- Transfers
- Bill payments
- Investments
- Loans
- Insurance
Kuda is a mobile-only bank, which means that you can only access its services through its app. The app is available for download on both Android and iOS devices. Kuda is known for its innovative features and its commitment to providing affordable and accessible banking services to Nigerians.
Does Kuda Have Dollar Account ?
Kuda does not offer a dollar account. It only offers a naira account. This means that you can only hold and operate in Nigerian naira (NGN) in your Kuda account. If you want to receive money from abroad, it must be in US dollars. You must open a US dollar account with a traditional Nigerian bank to receive international payments.
However, Kuda does allow you to send and receive international transfers in US dollars. When you send money from your Kuda account to a US dollar account, Kuda will convert the naira to US dollars at the prevailing exchange rate. When you receive money in US dollars in your Kuda account, Kuda will convert the US dollars to naira at the prevailing exchange rate.
If you need to hold and operate in US dollars, you can open a domiciliary account with a traditional Nigerian bank. A domiciliary account is a type of bank account that allows you to hold and operate in foreign currency. To open a domiciliary account, you will need to visit a branch of a traditional Nigerian bank and provide some documentation, such as your passport and your BVN.
I hope this helps! Let me know if you have any other questions and please don’t hesitate to comment below, i will reply as soon as possible.
