Let’s start this article with a brief intro to Kuda…
What is Kuda
Kuda, also known as Kuda Technologies, is a fintech company operating in Nigeria and the UK. It was founded by Babs Ogundeyi and Musty Mustapha in 2019.
It initially begun as Kudimoney or “the bank of the free”, an online-only savings and lending platform. It has since undergone a few funding rounds to transform into what is now Nigeria’s first neobank.
Kuda was listed as one of the seven WEF African technology startups of 2021.
Kuda is valued at $500 million and has raised over $90 million from investors including Target Global and Valar Ventures.
Kuda is a fintech company on a mission to make financial services more accessible, affordable and rewarding for every African on the planet.
In Kuda’s word
“We’ve built the money app for Africans around the world, giving them a better alternative to traditional finance by delivering services including free money transfers, smart budgeting, investments and instant access to credit through digital devices.”
Back to our core topic, that’s the Kuda Transfer Codes, and how it works.
What Is Kuda Bank Transfer Code?
The Kuda Bank transfer code is a USSD code introduced by Kuda Bank to allow customers access banking features without having to show up at the bank. It works on any smartphone regardless of the make and model, and it doesn’t even require an internet connection to work.
With the transfer code, you can access a wide range of functions, including (but not limited to) bill payments, airtime purchases, money transfers, and balance inquiries. Since the transfer code is limited to the phone number connected to your account, you can be sure it’s pretty secure.
To use the Kuda Bank transfer code, you need a functioning phone, a Kuda Bank account, and the number associated with the account. You must also be the legal owner of the account since it’s impossible to access the USSD functions otherwise.
When you dial the general code, you get a plethora of options that let you access many banking functions available with the app. The following section will outline some of the things you can do using the Kuda Bank transfer code and how to go about them.
How to Use the Kuda Bank Transfer Code
Once you meet all the requirements for using Kuda Bank’s USSD code, you can start using it for the bulk of your banking transaction. However, you should note that using the code is only recommended when you use a feature phone; the dedicated app is always better for smartphone users.
With that said, here are some of the functions you can use with the Kuda Bank transfer code and how to carry them out.
With the name “transfer code,” it’s obvious that it has a lot to do about transferring money to others. Most Nigerians only care to use the transfer code for money transfers only, earning it the famous “Kuda Bank transfer code” name.
To complete a transfer using the USSD code, the recipient must have a bank account with any bank in Nigeria. It doesn’t have to be Kuda Bank; as long as they have the 10-digit NUBAN account number, you’re good to go.
The first step to carrying out a money transfer is dialing *894# if you’ve never used Kuda Bank’s USSD code. Then, walk through the setup process to link your account to your phone to enable it to make transactions seamlessly.
However, if you’ve already set up USSD banking on your SIM card, you can always dial *894*Amount*Account Number#. Doing that will instantly transfer the said amount to the specified account number.
Compared to that of other banks where you may have to jump through different menu pages to complete a transfer, Kuda Bank’s transfer code is very intuitive.
Before continuing, it’s crucial to note that there are two categories for airtime purchases using Kuda Bank’s USSD transfer code. There is the “airtime purchase for self” and “airtime purchase for others.”
As you may have already guessed, buying airtime for “self” refers to the act of purchasing airtime for the phone number that’s connected to your Kuda Bank account. To make that work, you only need to dial *894*Amount#, and your line will be credited with the amount.
In most cases, however, you want to purchase airtime for numbers other than yours. To make that work, simply dial *894*Amount*Phone Number#, and Kuda Bank will magically credit the said phone number with the specified amount.
You should note that the appropriate amount for the airtime will be deducted from your account and you can only purchase airtime for numbers based in Nigeria. Sometimes, network issues could delay the delivery of the airtime, but it often works.
One popular function that most people use the Kuda Bank transfer code for is balance inquiry. If you need to know exactly how much you have left in your account, you can do that quickly using the transfer code.
However, you should know that the transfer code isn’t one of the best ways to check your account balance. The only advantage to it is its speed; when you learn that you have to pay around NGN7 each time you request to check your balance, you’ll consider using alternatives.
If you want to check your balance with the transfer code anyway, dial *894# and select it in the options made available. That only works when you’ve set up your Kuda Bank transfer code and we’re assuming that you already have. If you haven’t, dial *894# and walk through the steps.
Alternative ways to check your balance without having to pay any outrageous charges include the bank app or via an ATM. You can also use Kuda Bank’s online banking to check your balance without any charges.
How to add money to your Kuda Bank account via cash deposit
- Open your Kuda Bank App.
- On your dashboard, select ‘Add Money’.
- Select ‘Cash Deposit’.
- Then, select your preferred partner bank.
- Follow the prompts on your screen on how to make deposits in any branch of your preferred selected partner bank.
How to add money to your Kuda Bank account via a debit or credit card
There is usually a charge attached to the use of debit or credit cards to add money to your Kuda Bank account. The fee is usually charged via a payment gateway (Interswitch, Paystack, or flutterwave).
To perform this transaction, it is mandatory that you upgrade your account by adding your bank verification number (BVN) and a government-issued ID. To add this information, tap on ‘More’ at the bottom of your dashboard, and select ‘ Identification’.
There is a limit of #100,000 for free top-up using this means of transfer. For local cards, a payment gateway fee of #100 + 1.5% of the exceeded amount will be charged. For international cards, a fee of #100 + 4% of the exceeded amount is charged for every transaction that occurs through the payment gateway.
PS: It is very obvious that to perform almost any transaction, you require the Kuda Bank App. Hence, it is recommended that you download the application on your device.
Frequently Asked Questions On Kuda Bank Transfer Code
The following are the frequently asked questions:
The Kuda Bank Money Transfer Code And USSD Code Didn’t Work. What Can I Do?
This rarely happens but in case it happens the issue might be caused by the network provider.
If transactions repeatedly fail, please contact the Kuda Bank support.
What transactions can I carry out using the Kuda Bank USSD Code?
You can carry out transactions such as transferring funds, buying airtime and data, paying bills, checking your account balance, and opening a Kuda Bank account using the transfer code.
How do I register for the Kuda Bank USSD Code & Transfer Code?
You don’t need to register for the Kuda Bank Transfer Code or Kuda Bank USSD Code.
Once you have a Kuda Bank account and a mobile phone linked to your account, you can dial the transfer code to start using it.
What is the maximum amount I can transfer using the Kuda Bank Transfer Code?
The maximum amount you can transfer using the Kuda Bank Transfer Code depends on the transaction limit set on your account.
You can check your transaction limit by dialing *919# and following the prompts.
Is there a fee for using the Kuda Bank Transfer Code?
There are no charges for using the Kuda Bank Transfer Code. However, network charges may apply.
What do I do if I forget my Kuda Bank Transfer Code PIN?
If you forget your Kuda Bank Transfer Code PIN, you can reset it by dialing the code, select”Forgot PIN”, and following the prompts to reset your PIN.
Is the Kuda Bank Transfer Code available 24/7?
Yes, the Kuda Bank Transfer Code is available 24/7, and you can carry out transactions anytime, anywhere.
You can visit their website to learn more about their services.