Are you a Nigerian looking to send money home from abroad? Several banking institutions have been introducing ways to simplify overseas transfers, and with this, you may also create a pound Account on the Kuda Bank App.
After expanding to the United Kingdom, Kuda is now offering foreign exchange services through its app. You can now transfer money to relatives and friends in Naira by converting monies from your UK account or balance.
We’ll go over the expansion in detail in this post, including everything you’ll need to set up the Pound (GBP) account and how to do so directly from the Kuda app. Continue reading to find out more.
Expansion of Kuda in the United Kingdom
Kuda plans to expand to the United Kingdom in November 2022. According to its CEO, Africans in the United Kingdom face barriers to accessing inclusive financial services.
From opening a business account to dealing with a plethora of laws and various transfer fees. So, with this development, Kuda intends to remove many of the barriers that Nigerians in the diaspora face when moving money back home.
Although Nigerians can only send money home, Kuda plans to expand its remittance business to other African countries such as Ghana and Uganda for the time being.
What Information Do I Need to Open a Kuda Bank Pound (GBP) Account?
Because the expansion is intended solely at Nigerians in the United Kingdom, there are certain prerequisites. The following items are required to get your account up and running:
- Check that you have a valid UK phone number.
- In your name, a legal residence location in the United Kingdom
- A valid UK ID, such as your BRP or another national identification card.
- Unfortunately, if you are a Nigerian resident in Nigeria or another nation, your only options are Grey or Chipper Cash.
If you meet all of the conditions, you can open a pound or GBP account on Kuda by following the steps outlined below. Remember to update your app to use this feature when you log in.
How To Open A Pounds Account On Kuda
- Launch the Kuda Bank app (iOS or Android).
- On the homepage, click the three-dash icon.
- Touch the “Add New Currency” button in the pop-up chat.
- Choose “British Pound (GBP)” as the currency.
- By clicking Continue, you agree to the terms and conditions.
- Fill out the verification form and upload a clear photo of your valid identification.
- Allow a few business days for the activation of your new account.
Kuda Bank is simple to use and offers handy services, but it also offers competitive interest rates and has no hidden costs. So, why not open a pound account with Kuda Bank today and begin managing your money wisely?