Are you a Nigerian looking for how to send money home from abroad? Well, a lot of financial services have been providing solutions to help make international transfers easier and Kuda recently joined the train.
By expanding to the United Kingdom, Kuda is now offering foreign exchange services within its app. You can now swap funds from your UK account or balance to Naira and send money to your loved ones.
In this article, we’ll share more details on the expansion, what you need to create the GBP account, and how you can do it directly from the Kuda app. Keep reading to find out more.
Kuda’s United Kingdom Expansion
In November 2022, Kuda announced its expansion to the United Kingdom. According to its CEO, Africans in the UK face the challenge of accessing inclusive financial services.
From setting up a functional account to facing the many regulations and inconsistent fees on transfers. So with this expansion, Kuda is hoping to break the multiple barriers, Nigerians in the diaspora have to face with sending money back home.
Although for now, Nigerians can only send money back home, Kuda plans to expand its remittance service to other African countries like Ghana and Uganda.
What Do I Need to Create a GBP Account on Kuda?
Since the expansion is specifically targeting Nigerians in the UK, it means there are a ton of requirements to open one. To get your account started, you’ll need to have the following;
- Ensure you have a valid UK phone number
- A valid UK residential address in your name
- A valid UK ID – usually your BRP or any other national ID
How to Request for a Pounds Account on Kuda
So, if you do meet all of the criteria above, you can get a Pounds or GBP account on Kuda by following the steps outlined below. Remember to update your app so you can get this feature when you log in.
- Log in to your Kuda Bank app
- Tap on the three-dash icon on the homepage
- On the pop-up chat, tap on ‘Add New Currency”
- Tap on ‘British Pound (GBP)
- Agree to the terms and conditions and tap on continue
- Fill out the verification form and upload a clear photo of your valid ID
- Wait for a few business days to get your new account
So what are your thoughts about this new feature on Kuda? Let us know in the comments below. Don’t also forget to share this article with your Nigerian friends living in the UK.