How to open Kuda Bank account without BVN

Opening a bank account in Kuda Bank is a simple and quick process. However, a BVN (Bank Verification Number) is still necessary.

The Central Bank of Nigeria (CBN) requires everyone with a bank account to obtain a Bank Verification Number (BVN). It safeguards the financial system in Nigeria by preventing fraud and identifying theft.

But what if you don't have a BVN? Can you still open a Kuda bank account? The answer is yes! Kuda Bank offers a Tier 0 account that doesn't require a BVN. However, there are some limitations to this type of account.

What is Kuda Bank?

Kuda Bank is a fully digital bank that was founded in 2019 by Babs Ogundeyi and Musty Mustapha. It is headquartered in Lagos, Nigeria, and it has over 2 million customers. Kuda Bank is a neobank, which means that it does not have any physical branches. It offers its services entirely through its mobile app.

Kuda Bank offers a variety of features and benefits, including:

●        Zero maintenance fees: There are no monthly or annual maintenance fees for Kuda Bank accounts.

●        Free transfers: You can make unlimited free transfers to other Kuda Bank accounts. You can also make free transfers to other banks, but you are limited to two free transfers per month.

●        Automatic savings & investments: Kuda Bank offers a variety of automatic savings and investment plans that can help you reach your financial goals.

●        Easy to use app: The Kuda Bank app is easy to use and can be accessed on any smartphone or tablet.

●        Customer support available 24/7: Kuda Bank offers customer support 24 hours a day, 7 days a week.

●        Kuda Bank is a great option for people who are looking for a simple, convenient, and affordable way to bank. It is a fully digital bank that offers a variety of features and benefits, all at no cost.

●        Customer support available 24/7: Kuda Bank offers customer support 24 hours a day, 7 days a week.

Requirements to open a Kuda bank account without BVN

The following criteria must be met in order to open an account with Kuda Bank:

●        In order to open a Kuda Bank account, you will be need to provide a phone number that is both genuine and in the country of Nigeria. Both the verification of your identity and the receipt of alerts from Kuda Bank will rely on this information.

●        Valid email address: In order to set up an account with Kuda Bank, you will also be required to have a valid email address. This is the contact information that Kuda Bank will use to send you crucial information, such as your account statements and instructions for resetting your password.

●        Valid identification issued by the government In order to verify your identity, you will be required to present a valid identification issued by the government, such as a driver's license or passport.

●        Selfie: In order to prove that you are in fact the person depicted on the government-issued ID that you give, you will be required to snap a selfie.

●        Bank Verification Number (BVN): In order to open an account with Kuda Bank, you will be required to furnish your Bank Verification Number (BVN). The Bank Verification Number, often known as the BVN, is a one-of-a-kind identity number that is granted by the Central Bank of Nigeria (CBN). Its primary function is to protect individuals from having their identities stolen.

●        To register for a bank account, you need to be at least 16 years old.

How to open a Kuda Bank Account without BVN

Kuda Bank is a fully digital bank that offers a variety of features and benefits, all at no cost. You can open a Kuda Bank account without BVN in just a few minutes, and you can start using it right away.

To open a Kuda Bank account, follow these steps

Download the Kuda Bank App

The first step to opening a Kuda Bank account is to download the Kuda Bank app. Android users can download the app from the Google Play Store, while iPhone users can get it from the Apple App Store. Simply search for "Kuda Bank" in the respective app store, and click on the install button to download the app.

Fill in Your Personal Information

Once you have downloaded the app, open it and click on the "Open an Account" button. You will be prompted to fill in your personal information, including your name, phone number, and email address.

Additionally, you will need to create a username and password that you will use to log into your account. Once you have provided all the necessary details, your Kuda bank sign-up for a basic account is complete. That's how to open a Kuda Bank account without a BVN. 

Upload Identification Documents

After filling in your personal information, you will be required to upload scanned copies of valid identification documents.

This could include a National ID card, NIN Slip, International Passport, or Driver's License. In some cases, Kuda Bank may request additional documents to further verify your identity, such as a utility bill or bank statement.

Verify Your Identity

Kuda Bank will initiate a verification process using the information and documents you provided during the account opening process. The duration of this verification may vary depending on the bank's workload. Typically, it takes a few days to complete the verification process. 

Activate Your Account

Once your identity is successfully verified, you will need to activate your Kuda Bank account. Follow the instructions provided by Kuda Bank to complete the activation process. This usually involves setting up a personal identification number (PIN) that you will use to authorize transactions on the app.

Fund Your Account

With your Kuda Bank account successfully activated, you can now choose to fund it. You have the option to transfer money from another bank account or use a debit card to deposit funds into your Kuda Bank account. Kuda Bank accepts transfers from other Nigerian banks as well as international banks.

FAQS

Can I open an account with Kuda without BVN?

You will not need a BVN in order to create a bank account with Kuda Bank. Having said that, there are a few restrictions that come with this type of account.. Upgrading your account and providing your BVN is required if you wish to access additional features or raise the limit on the amount of money you can move.

How long does it take to open a bank account with Kuda?

The account opening process on the Kuda Bank app often takes only a few minutes. The verification process, on the other hand, can take up to 48 hours.

Which bank can you open without BVN?

There are a few banks that you can open an account with without a BVN. These include:

●        Opay

●        Carbon

●        VFD Bank, etc

Can I use a debit card to finance my Kuda bank account?

Yes, you can fund your Kuda bank account with any Nigerian bank's debit card. To make a deposit, simply enter your card information into the app.

How much can a Kuda account hold without BVN?

The maximum balance that you can hold in a Kuda account without a BVN is ₦50,000. If you exceed this limit, your account will be frozen until you provide your BVN.

Why do banks require a BVN?

Banks require a BVN to prevent fraud and enhance the security of the banking system. The BVN serves as a unique identifier for individuals, allowing banks to verify the identity of their customers and protect their accounts from unauthorized access.

Can I open Kuda bank on my phone?

Yes, you can set up a Kuda bank account on your smartphone. All you have to do is download the app and follow the instructions.

Is it necessary for me to go to a physical bank branch to open a Kuda bank account?

No, Kuda Bank is a digital-only bank, which means that all banking transactions, including account opening, must be completed using the Kuda Bank app.

 

Conclusion

A Kuda bank account can be opened without a BVN through a simple online process. 

Kuda Bank is a free, entirely online bank with several useful features. If you want a cheap, easy, and hassle-free banking alternative, this is your best bet.

You should now be able to open a Kuda bank account online with your phone after reading this guide on how to open a Kuda bank account with a BVN. Goodluck!