Kuda is a free mobile-only bank fully licensed by the Central Bank of Nigeria. Kuda gives you a spending account, a debit card accepted worldwide and the option of saving every time you spend. In a lame man’s tongue, you can see Kuda as an online wallet to save money and withdraw.
Kuda is referred to as a mobile-only bank because it operates as a bank, you will get a card with which you can withdraw the money in your Kuda account, and unlike other banks, there is no card maintenance fee. It is one thing that makes people like and prefers to use Kuda to their regular bank. Here are some features of this Kuda banking system.
Features of Kuda mobile banking
- No card maintenance or account maintenance fees
- 40 free transfers every month (10 Naira each for extra transfers)
- No minimum balance
- Free withdrawals at over 3,000 ATMs across Nigeria
- Request, activate, block and unblock your debit card on the app
- Grow your savings automatically when you spend
- Up to 25% interest on fixed savings
- Free debit and credit alerts
- Responsive customer support
- Simple tools for managing your money better
With this app, you get to spend smarter, save better and get the most out of your money. All of this is good, but the truth is told, we are not here to listen to all this, knowing full well who we are. We are only interested in the profit that we can make while using this app.
Kuda has a referral program where you invite friends to download and open an account with them and then make money from it. You get to make at least N200 per referral, meaning you can make N1000 from referring five persons to try out the app.
Before now, Kuda used to give ten free transfers for bringing a friend to join their community. It seems as if they saw that this didn’t work out, so they’ve opted in to pay N200 for you to bring someone to join their platform. There are rules to the referral program, and here are the rules;
- Everyone you refer must sign up with your referral code. Tap More at the bottom of your Kuda dashboard, then tap Invite & Earn to see your code and share it.
- You must add your Bank Verification Number (BVN) to get paid for referrals.
- For referrals to count for you, everyone you refer must add their BVN when they’re signing up. They must also add a minimum of 100 Naira to their new Kuda account.
- You will be paid 200 Naira for each of your referrals every Monday.
How to join the Kuda referral program
- Download the latest version of Kuda on Google Play or the App Store.
- (Sign up and use this as your referral code – TAJISORK) add your BVN.
- Tap More at the bottom of your Kuda dashboard, tap Invite & Earn, and share your referral code with people you know. Make sure they sign up with their BVN and add at least 100 Naira to their new account.
- Wait to get paid every Monday. This means you’ll be paid for all the referrals you make in a week at the end of that week.
One thing you should also take note of on this Kuda referral program is, you won’t get free transfers for referrals but anybody who opens a Kuda account through your referral link will get ten free transfers.