Are you a Nigerian living abroad who wants to send money back home with ease?
Numerous banks have been simplifying international transfers, and now, you can set up a UK pounds account on the Kuda Bank app.
Kuda has extended its services to the United Kingdom, providing foreign exchange services through its app.
You can seamlessly transfer funds to your loved ones in Naira by converting money from your UK account or balance.
In this article, we will delve into Kuda’s expansion, covering the essentials for setting up a Pound (GBP) account and the steps to do so within the Kuda app.
Keep reading to learn more.
Kuda’s Expansion into the United Kingdom
Kuda is set to launch in the UK in November 2022.
The CEO of Kuda states that Africans in the UK encounter obstacles when accessing inclusive financial services.
From opening business accounts to navigating numerous regulations and transfer fees, Kuda aims to eliminate many of the hurdles faced by Nigerians in the diaspora when sending money home.
Initially, Kuda’s remittance services will only cater to Nigerians, but plans to extend these services to other African countries like Ghana and Uganda are in the pipeline.
Essential Information for Opening a Kuda Bank Pound (GBP) Account
Kuda’s expansion targets Nigerians in the UK, so certain requirements apply. To open your account, you’ll need:
- A valid UK phone number
- A legal residential address in the UK
- A valid UK ID, such as a BRP or another national identification card
- If you’re a Nigerian residing in Nigeria or another country, your alternatives are Grey or Chipper Cash.
If you meet the criteria, follow the steps below to open a pound or GBP account on Kuda. Ensure your app is updated to access this feature when you log in.
Steps to Open a Pounds Account on Kuda
- Open the Kuda Bank app (available for iOS and Android).
- On the homepage, tap the three-dash icon.
- In the pop-up chat, select “Add New Currency.”
- Choose “British Pound (GBP)” as the currency.
- Click “Continue” to accept the terms and conditions.
- Complete the verification form and upload a clear photo of your valid ID.
- Allow a few business days for the activation of your new account.
Kuda Bank is user-friendly and offers valuable services, competitive interest rates, and transparent pricing. So why not set up a pound account with Kuda Bank today and start managing your finances wisely?