How To Add Money In Your Kuda Account With A Bank Card
How to add money in your Kuda account with a bank card is the key even if you’re just testing to see if they’re the real deal, you’re going to need to add some money to your Kuda account, and doing that is pretty easy.
Adding money to your Kuda account with a bank card is not a difficult task, because everything you need to know about how to add money into your Kuda account with a bank card is started here from the beginning to the end.
If this is the case, you’ll be learning how to add money in your Kuda account with a bank card in three ways.
Also Read: How To Check Kuda Bank Account Number.
How to add money in your Kuda account with a bank card
There are three ways you can add money in your Kuda account with a bank card, they are as follows:
- Transfer from any other bank account with a banking app or internet banking.
- Deposit cash at a partner bank.
- Move it from a local or international bank card.
Kuda gave you these options to make your life easier, but there’s one that can make ours pretty difficult which is adding cards.
Adding money with a card on Kuda account seems straightforward:
To get started, you open Kuda app, tap Add Money on your dashboard then tap Add By Card and follow the prompts on your screen to complete the process.
This seems simple enough on the surface, but there are two things you probably don’t know which are:
1. It’s free for you because Kuda are paying for it
Every time you add money with a card, Kuda are charged a fee by the payment gateway (eg. Paystack, Flutterwave, Interswitch etc) that connects any bank card to your Kuda account.
2. It can easily become a security nightmare
Since it’s really hard to trace the source of the money being moved from a card, so fraudsters love using this method to cover their tracks and transfer stolen money.
For these reasons, Kuda bank has made three new rules they need you to know. The rules are:
Rule 1: You must upgrade your Kuda account to add money with a card
To keep everyone and their money as safe as they can, Kuda cannot compromise on this.
So, without a Bank Verification Number (BVN) and a government-issued ID, you can add money to your Kuda account strictly by transfer or cash deposits.
To achieve this, login to the Kuda app, tap “More” on the app menu then tap “Identification” to add your BVN and ID.
Rule 2: Kuda Bank will stop paying the payment gateway fee after you’ve added up to 100,000 naira to your Kuda account with a card
This simply means that once you’ve hit the 100,000 naira limit for free top-ups, you’ll have to pay the payment gateway fee every time you add money to your Kuda account with a card.
Note that the payment gateway fee for local cards is 100 naira + 1.5% of the amount you’re adding. Also, do note that this fee isn’t from Kuda bank but they will let you know how much it is before you move money from your card to your accounts.
While cash deposits and transfers to your Kuda account are always free. Kuda will make sure they send you a message when you’re approaching the free limit.
Rule 3: You will pay the payment gateway fee whenever you top up your Kuda account with an international card.
The payment gateway fee for international cards is 100 naira + 4% of the amount you’re adding. I.e if your card is from a bank outside Nigeria, you will have to pay the payment gateway fee every time you use it to add money to your account.
Remember Kuda said they’ll never charge you without letting you know first? That will never change.
Still Ask, What Is Kuda Bank? How To Know About Kuda Bank.
Summary
Adding money to your Kuda account with a bank card has never been easy but am sure that after reading this guide, you now find it very easy and can implement it with one click right?
And you now know how to add money into your Kuda account with a bank card?
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