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Kuda For Business: Kuda Banking App – Kuda Business Account Requirements

If you want to use the Kuda banking app for business, then this article on Kuda Business account requirements is what you should read carefully to get started. Kuda app is one of the best fintech companies when it comes to quick money transactions, and using it for your business is a very good idea if you meet the requirements.

When it comes to digital banking, Kuda Bank has emerged as one of the best platforms that offers a range of services tailored to meet the needs of modern businesses.

Kuda Bank’s business account stands out as a tool for entrepreneurs and enterprises. It has a lot of benefits that will truly interest you. Also, there are various features put in place to make sure you can provide the best service for your business.

Opening a Kuda bank business account is as simple as A, B, C, and D. All you have to do is read this article carefully to see the basic requirements needed to get started.

SEE NOW: Understanding the Difference Between Personal And Business Bank Accounts

Kuda Business Account Benefits

Check out some of the benefits below;

  1. One of the most attractive benefits of the Kuda business account is the absence of monthly maintenance fees.
  2. Kuda Bank offers free transfers to other Kuda accounts and a specified number of free interbank transfers each month.
  3. You will simply get real-time notifications on all account activities which is aimed at keeping business owners informed about their transactions.
  4. Kuda’s platform integrates smoothly with various accounting software, aiding in efficient financial tracking and reporting.
  5. It provides a highly accessible platform via its mobile app. That is to say, you can manage your account even when you are on the go.
  6. Kuda Bank offers business loans with competitive interest rates, providing financial support for business growth and expansion.

Features Of Kuda Business Account

Below are some of the features you’ll find on the Kuda Business account.

  • Multiple Sub-Accounts
  • Detailed Analytics
  • Secure Transactions
  • Automated Expense Management
  • Digital Wallet
  • 24/7 Customer Support

Kuda Business Account Requirements

Below are the requirements to open a Kuda business account.

  • Certificate of Incorporation issued by the Corporate Affairs Commission (CAC) or the relevant authority
  • Form CO7 (this form lists the details of the directors of the company)
  • Form CO2 (this form lists the company’s registered address)
  • Utility bill showing the address and is not older than three months.
  • Government-issued ID (National ID card, International Passport, Driver’s License, or Voter’s Card of the business owner(s) and authorized signatories)
  • Tenancy Agreement or Rent Receipt If the business operates from a rented space.
  • A recent bank statement showing the address.
  • A Tax Identification Number (TIN) is required to ensure that the business is tax-compliant.
  • Recent passport-sized photographs of the business owner(s) and authorized signatories.
  • For limited liability companies, a board resolution is needed.

In addition to the above, the details of the individuals who will operate the business account will be needed, the details include the following:

  • Full Name
  • Date of Birth
  • Contact Information (phone number and email address)
  • Residential Address

Kuda App Download

Downloading the app is simple and free. When it is downloaded, you can create your business account from there.

  1. Visit your Google Play Store or App Store
  2. In the search bar, type and search for “Kuda”
  3. Select the official Kuda app and tap on Install or Get
  4. The app will be downloaded successfully on your device

How To Open A Kuda Business Account

Opening a Kuda business account is simple and free. Provided you meet the requirements given above. Below is the step-by-step guide to open an account.

  1. Open the downloaded app and sign up for a new account by providing your basic information, including your email address and phone number.
  2. During the sign-up process, select the option to open a business account and you will be prompted to enter additional details about your business, such as the business name, registration number, and type of business.
  3. Upload the necessary documents to verify your identity and business registration.
  4. Then follow the on-screen instructions to complete the registration process.
  5. Once all the required information and documents have been submitted, Kuda will review your application. Your business account will be approved and activated if everything is in order.

Upon approval, you can start using your Kuda business account to manage your finances, make transactions, and access the various features offered by Kuda Bank.

Opening a Kuda business account is a simple process if you know the Kuda business account requirements needed and the steps you need to take. Simply follow the guidelines here and you’ll be very much good to go.



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