Kuda bank Business accounts to pay transfer fees

Are you a fan of digital banking?Which bank application do you patronize and enjoy? Well,if its the widely youths used digital Kuda bank,then I have a very vital information on the updates they have just released.

Read till the end to know the latest development from kuda bank to avoid touching stories.

Sales Mode, Kuda Payroll, and business registration are among the new features that Nigerian finance firm Kuda is adding to its Kuda Business mobile application this year.

The digital bank will also roll out a SoftPoS function that will let users accept card payments via their smartphones.

SoftPoS, also known as Software Point of Sale, transforms your standard smartphone or tablet into a secure payment terminal and enables you to take EMV contactless cards.

Payments can be made using a conventional card or its virtual equivalent, and it can be used with any Android phone running version 8.0 or higher that has an NFC module.

For Kuda Business accounts, the digital bank is ceasing to offer free monthly interbank transactions.

It’s important to keep in mind that in 2019, Kuda provided 25 free monthly transfers, each of which cost an additional $52.50 (11 cents), allowing users to save up to $32.60 ($15) annually.

The corporation declared in 2022 that it would begin adding a 50naira (11 cent) stamp duty fee to any deposits over 10,000 ($21.73).

However, Kuda would stop offering the 25 free transfers each month as of March 17, 2023.

For every transfer, Kuda business accounts will now charge a fixed fee of 10 naira(or $0.022).

Owners of personal accounts can still use the free monthly transfers, though.

What’s your take on this update? You can drop your comments.


Hi,am Khadijah Sulaiman,and I write on tech.related issues like News, training Opportunities, Social media and more.I love to share findings on tips, tricks and latest information about make life more meaningful and educative. Follow me on Facebook @habijtech and YouTube @habijTv

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