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How to open a Kuda Bank Account without BVN

How to open a Kuda Bank Account without BVN

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Are you looking for an easy and convenient way to open a bank account without  BVN?  With Kuda Bank, opening an account without  BVN is very easy and simple.

How to open a Kuda Bank Account without BVN

As a new customer, you may be wondering what sets Kuda Bank apart from the crowded banking industry. Well, first of all, the Kuda Bank app has been downloaded more than 1 million times on the Apple App Store, Google Play Store, and  Huawei AppGallery – that’s an impressive achievement.

But what sets Kuda Bank apart is its commitment to providing simple banking solutions to its customers. Yes, you heard right! You can create a Kuda Bank account without BVN and it is very easy to do. Now you may be skeptical and wonder if it is possible to open a bank account without a BVN. Trust us when we say it’s possible. And the best? You don’t need to go through lengthy procedures or submit tons of documents. Read on to learn how to create a Kuda Bank account without BVN

How to open a Kuda Bank Account without BVN

Opening a Kuda Bank account without BVN is a simple and stress-free process. Here’s how:

  • Download the Kuda Bank application: You can download the Kuda Bank app from the App Store or Google Play Store.
  • Register:After downloading the app, register by providing the necessary details such as your name, email address, and phone number. 
  • Enter reference code: You will need to enter your referral code to proceed to the next step in the registration process. 
  • Identity verification: After entering the referral code, you will be prompted to verify your identity. You can use an international passport, driver’s license, or national identity card.
  • Deposit money to your account: After providing a valid ID card, fund your account with a minimum of 100 Naira. You can do this with a debit card from any Nigerian bank.
  • Active account: Once you have successfully deposited money into your account, your account will be activated and you will receive a Kuda Bank account number.
  • BVN update: You must update your account with a valid BVN within the next 7 days or risk losing your account.
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Now that you have a Kuda Bank account, you can start enjoying all the benefits and features that come with it.

How to update your BVN on the Kuda Bank App

Here is a step-by-step guide on how to update your BVN on the Kuda Bank app:

  1. Open the Kuda Bank application: To access your Kuda Bank account, open the Kuda Bank app on your phone and enter your login details.
  2. Locate the “Add” option: Once logged in, look for the “More” option in the lower right corner of the screen. Click on it to go to “Settings,” then click “Personal Information.” 
  3. Click on ‘BVN’: Once you get to “Personal Information,” scroll down to the “BVN” section and click on it.
  4. Enter your BVN: After clicking “BVN”, the next screen will ask you to enter your BVN number. Enter your BVN number and click “Update BVN”. 
  5. Wait for verification: After clicking “Update BVN”, Kuda Bank will check your BVN based on your personal information. This process may take some time, so please be patient.
  6. Verification passed: Once your BVN is verified, you will receive a confirmation message. Now your BVN has been updated in your Kuda Bank account.

Note: It is important to ensure that the BVN number you enter is correct and up to date. Inaccurate BVN details may result in account restriction or suspension.

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Advantages of opening a Kuda Bank account without BVN 

Benefits of opening a Kuda bank account without BVN:

  1. Open an account quickly and easily: Opening a Kuda Bank account without BVN is a quick and easy process. You can easily complete the registration process within minutes by providing just a few details and documents. This helps you avoid wasting time and having to visit a bank branch or wait for approval.
  2. No need for BVN: If you do n ot have a BVN, opening a Kuda Bank account without a BVN will give you the convenience of opening a bank account without providing a BVN. You can still enjoy many banking services like making transactions, paying bills, and receiving notifications without  BVN.
  3. Enjoy seamless mobile banking: With a Kuda Bank account, you can enjoy seamless banking services directly from your mobile phone without having to visit a bank branch. This means you can easily access your account, transfer money, pay bills, and check your account balance from anywhere. 
  4. Cost proportion: Opening a Kuda Bank account without BVN helps you save a lot of money because you can easily perform banking transactions without having to pay huge maintenance fees and other banking services.
  5. Convenient and safe: Kuda Bank accounts without BVN provide a more convenient and secure way to bank for those who may be concerned about their personal information. With Kuda Bank, you can be sure that your personal and financial information is always kept safe and protected. 

Disadvantages of Opening a Kuda Bank account without BVN.

Although it is possible to open a Kuda Bank account without a BVN, your account may have certain limitations on the transactions you can do. Below are the disadvantages of not verifying your Kuda Bank account with BVN.

  1. Limited trading options: When you open a Kuda Bank account without  BVN, you may not have access to certain features such as depositing or withdrawing over a certain amount or even being able to withdraw money from an ATM.
  2. Account usage restrictions: You cannot fully utilize your Kuda Bank account until you provide your BVN. This means you can’t do things like set up automatic transfers, use the app’s budgeting features, or receive certain notifications. 
  3. Security issues: Without  BVN, your account may be more susceptible to fraudulent activity. Kuda Bank has additional measures in place to prevent this, but having a BVN adds an extra layer of security.
  4. Increase account verification time: If you do not have a BVN, opening an account at Kuda Bank may take longer. This is because Kuda Bank may need to verify your identity and bank account by other means, which may take longer.
  5. Certain services cannot be accessed: Some services require you to have  BVN, you will not be able to access it if you have not provided it.
  6. Legal troubles: Kuda Bank may face legal action if you use an account without BVN. This means that customers can also face legal issues.
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FAQs on How to Open Kuda Bank Account without BVN

1. What do I need to open a Kuda Bank account without BVN?

To open a Kuda Bank account without a BVN, you need a valid means of identification such as an ID card, voter card, or driver’s license, as well as an email address and a working phone number.  

2. Can I open a Kuda Bank account without BVN if I am not a Nigerian citizen?

No, you must be a Nigerian citizen to open a Kuda Bank account without BVN.

3. Is there a limit to the amount I can deposit into a Kuda Bank account without BVN?

The limit for depositing money into a Kuda Bank account without BVN is N50,000. However, you can increase this limit by upgrading your account with  BVN.

4. Can I use a Kuda Bank account without BVN to receive money transfers? 

You can receive a transfer to your Kuda Bank account without BVN. However, the limit for such transactions is N50,000.

5. How do I update my Kuda Bank account with  BVN?  

To update your Kuda Bank account with  BVN, simply login to your account and select the “Update BVN” option.

Conclusion

Kuda Bank has created favorable conditions for new customers to open accounts without BVN. With a valid means of identification as well as a working email address and phone number, you can open an account and start enjoying all the benefits of banking with Kuda. Remember, if you want to increase your deposit and trading limits, you need to update your account with  BVN.

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