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 in their regular bank. Here are some features of this Kuda banking system.
Features of Kuda mobile banking
- No card maintenance or account maintenance fees
- 25 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 that we are not here to listen to all this, knowing who we are. We are only interested in the profit 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 N1,000 per referral, meaning you can make as much as N5,000 from referring five persons to try out the app.
The previous reward for the Kuda referral program was N250 for every person you refer to the banking platform but now that it’s N1,000 per referral, lots of people would indeed look to get into this referral program.
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 – Rf7qy3iV and 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, add their BVN, and a valid ID, and purchase N500 airtime with their Kuda account. You and your friend would get N1,000 each which will be credited into your Kuda bank account.
One thing you should also take note of on this Kuda referral program is, that you won’t get free transfers for referrals but anybody who opens a Kuda account through your referral link will get the free transfers.