- Every time you add money with a card, we are charged a fee by the payment gateway (eg. Paystack, Flutterwave, Interswitch) that connects any bank card to your Kuda account.
- It’s really hard to trace the source of the money being moved from a card, so fraudsters love using this method to cover their tracks and transfer stolen money.
For these reasons, we’ve made three new rules we need you to know:
Rule #1: You must upgrade your Kuda account to add money with a card.
- To keep everyone and their money as safe as we can, we cannot compromise on this.
- Without a Bank Verification Number (BVN) and a government-issued ID, you can add money to your account strictly by transfer or cash deposits.
- Tap More at the bottom of your Kuda dashboard then tap Identification to add your BVN and ID.
Rule #2: We will stop paying the payment gateway fee after you’ve added up to 100,000 naira to your account with a card.
- This means that once you’ve hit the 100,000 naira limit for free top-ups, you’ll have to pay a payment gateway fee every time you add money to your Kuda account with a card.
- The payment gateway fee for local cards is 100 naira + 1.5% of the amount you’re adding.
- Please, this fee isn’t from us but we will let you know how much it is before you move money from your card to your accounts.
- Cash deposits and transfers to your account are always free.
- We’ll make sure we send you a message when you’re approaching the free limit.
Rule #3 — You will pay the payment gateway fee whenever you top up your Kuda account with an international card.
- The payment gateway fee for international cards is 100 naira + 4% of the amount you’re adding.
- If your card is from a bank outside Nigeria, you will have to pay the payment gateway fee every time you use it to add money to your account.