Are you a Nigerian who wants to transfer money back home from abroad? Well, several banking firms have been offering ways to make foreign transfers simpler, and with this, you can also create a pound Account on Kuda Bank App.
Kuda is now providing foreign exchange services via its app after expanding to the United Kingdom. You can now send money to family and friends by converting funds from your UK account or balance to Naira.
In this post, we’ll go through the expansion in depth, including what you’ll need to set up the Pound (GBP) account and how to do so straight from the Kuda app. Continue reading to learn more.
Kuda’s Expansion in the United Kingdom
Kuda announced its expansion to the United Kingdom in November 2022. According to its CEO, Africans in the United Kingdom encounter difficulties gaining access to inclusive financial services.
From opening a working account to dealing with many rules and varying transfer costs. So, with this expansion, Kuda hopes to break down the many hurdles that Nigerians in the diaspora experience while transferring money back home.
Although Nigerians may only send money back home, for the time being, Kuda intends to extend its remittance business to other African nations such as Ghana and Uganda.
What Information Do I Need to Open a Pound (GBP) Account on Kuda Bank?
Because the expansion is aimed exclusively at Nigerians in the United Kingdom, there are several conditions to establish one. To get your account up and running, you’ll need the following items:
- Make sure you have a working UK phone number.
- A legitimate residence address in the United Kingdom in your name
- A genuine UK ID, such as your BRP or any other national ID.
Unfortunately, if you are a Nigerian resident in Nigeria or another country, you should consider Grey or Chipper Cash as alternatives.
How to Open a Pounds Account on Kuda
So, if you satisfy all the requirements, you can open a pound or GBP account on Kuda by following the procedures given below. Remember to update your app to take advantage of this feature when you log in.
- Open the Kuda Bank app (on iOS or Android)
- Tap the three-dash symbol on the homepage
- On the pop-up chat, touch “Add New Currency”
- Select “British Pound (GBP)”
- Accept the terms and conditions by clicking Continue.
- Fill out the verification form and submit a clean picture of your valid ID
- Wait a few business days for your new account to be activated
Kuda Bank is easy to use and has convenient services, but it also has good interest rates and no hidden fees. So why not open a pound account with Kuda Bank today and start managing your money the smart way?