How to transfer money from Kuda bank to other banks in 2021.
Transfer of funds has never been this easy. Imagine sending money to family and friends miles away with only the click of a button. You do not need to go to branches to send money. Well, you already know Kuda bank does not have a physical branch but only a head office.
Transfers to Nigerian banks other than Kuda bank is usually free to a certain limit. That is, you can send money to other banks without getting charged by Kuda bank. This is very different from the everyday culture in other Nigerian banks.
Every month, Kuda bank gives all her customers 25 free transfers to other banks for 30 days. This means that, you can get as much as 25 charge-free transfers for that month. Want to know what happens if you get to or exceed this limit? I will let you know in the next paragraph.
On reaching the 25 free transfer limit, you will be charged a token of N10 for every transaction made to other banks. Irrespective of the amount you want to send, the charge is always fixed at N10. Unlike other Nigerian banks who charge transfer fees in variation with the send amount.
Okay, let me cut short the long story. Do you want to transfer funds from your Kuda bank account to other banks? You are in the right place. I will teach you how to transfer funds to another bank without going through much hassle and instead, saving time.
To make this more comprehensive, I would have loved to show you screenshots of how to do it, but you should know by now that Kuda bank app does not support screenshots on Android devices.
- 1 How To Transfer Money From Kuda Bank to other Banks
- 2 Frequently Asked Questions
How To Transfer Money From Kuda Bank to other Banks
Like I mentioned earlier, it is very easy to send money from your Kuda bank account to other Bank accounts. Let us move through the procedure and see how easy it is.
- Open your Kuda bank app. Before we move to the next step, I believe you have already created your Kuda bank account. If you have not done so, click here to know how to create your Kuda bank account.
- On arriving at your dashboard, locate the “payments” icon amongst the other icons at the bottom of the app. Tap it.
- Four options will appear in the next page. Select the “Send Money” option. You will automatically be redirected to another page.
- Now, choose the recipient’s bank from the banks in the list. Certainly, this can not be Kuda bank anymore.
- Enter the amount of money you want to send out.
- Enter the bank account number of the recipient. Immediately after doing this, the name of the bank account will pop up at the bottom. This will serve as a confirmation before sending.
- Done that? Let’s keep moving. Click the “Next” icon by the top right corner of the screen. You will be taken to another page.
- Here, you will be given a final opportunity to review your transaction before approving it. If you have confirmed it, you will be asked to authorize the transaction with either your 4 digit PIN or a fingerprint.
Note: You are advised to cross check every transaction well before authorizing them. Any transaction that has been authorizing can never be reversed. Be aware!
Frequently Asked Questions
If you have successfully opened your Kuda bank account, this should not be an issue. At the point of opening your Kuda bank account, you will be promoted to create a 4 digit PIN. I believe your question has been answered.
I sent money to a bank account, but it has not been received for a while now, is anything wrong?
Please be aware that every transfer made must follow the chain that has been created for that particular time. Let me explain myself in a Layman’s language. Every transaction is approved one after the other.
However, this should not be up to 30 mins, except in rare occasions. If this happens, the problem could be network issues or could be an issue from the recipient’s bank. If the problem persists, you can write a mail to Kuda bank and you will know the reason why the transaction has been delayed.
Does Kuda bank add my remaining free transfers with that of the New Month?
This is a big No. Kuda bank does not do this. Let’s take for example, you were offered 25 free transfers for the month of January. If at the end of January, you had 15 free transfers remaining.
On the first day of February, the 15 will be overwritten, and all you will have is the 25 free transfers. I hope that answers your question.