How do I register for a business account?

  • Go to

  • Tap on ‘Open an Account’

  • Tap Yes (I have a Kuda Account)

  • Sign up with your Personal Kuda Tier 3 email and password login details.
  • Can I link my BVN with my business account on Kuda?

    Yes, You need to have a Tier 3 Kuda account to sign up on Kuda for Business, you’ll have to provide your BVN before you become a Tier 3 customer

    Why is my Business Account upgrade pending?

    We’re reviewing your information and we’ll let you know if it’s approved or not in the next 72 hours.

    Can a business owner have more than one signatory to an account?

    A business account can only have one primary signatory. This signatory has to be the business owner or a director. That signatory can add teammates to operate the account on their behalf.

    What are the requirements to open a business account?

    For Freelancer account

    A personal Kuda account on Tier 3 (upgraded with your BVN and a valid ID). This is needed to open a Kuda Business account.

    For Full Business Account

  • A personal Kuda account on Tier 3 (upgraded with your BVN and a valid ID).

  • Your FIRS Tax Identification Number (TIN).

  • Your CAC registration number.
  • Business Name Registration:

  • Certificate of Incorporation

  • CAC Registration Form - CAC BN/1

  • Proof of Address of your business - This can be a utility bill, tenancy agreement, local government bill, internet bill, waste bill, or a bank statement.
  • Limited Liability Company Registration:

  • Certificate of Incorporation

  • Memorandum and Articles of Association

  • Particulars of Directors - CAC 7/7A or CAC 1.1

  • Particulars of Shareholders - CAC 2/2A or CAC 1.1

  • Board Resolution - This document should list all the signatories (admins) who will use your Kuda Business account. Please have at least 2 signatories on the board resolution

  • Proof of address of your company - This can be a utility bill, tenancy agreement, local government bill, internet bill, waste bill, or a bank statement
  • Can I change my kuda Personal account to a Business Account?

    No, you will need to open a separate business account.

    Can I make foreign Transactions on my Business account

    No, you can only make local transactions on your business account.

    Can I be granted a loan as a small business?

    Not at the moment but we’ll let you know when to get one.

    Can I have Multiple Business accounts?

    Yes you can.

    Can I link my retail account with my business account?

    No, you have to access your retail and business accounts separately at the moment.

    Will there be account officers allocated to specific customers?

    No there won’t, but our customer service team would be available to deal with your enquiries

    Will I be charged any fee for registering a Business account?

    Registering a business account is completely free.

    Does my business have to be registered with CAC to use Kuda Business?

    For a Freelancer account, your business does not have to be registered with CAC, but to upgrade to a Full Business Account, it has to be registered with CAC.

    Is my Business account Tax Incurred?

    No, it is not.

    What are the maximum and minimum limits for transactions?

    There’s no minimum limit for transactions while there’s a maximum 10 million naira daily limit for transactions.There’s a 1 million naira per single transaction limit.

    Is it possible to pay salary to multiple accounts?

    The bulk transfer feature allows you to do this. For now, this feature works for only Kuda accounts.

    What other documents can I provide besides CAC?

    You can only operate a Freelancer account without being registered with CAC.

    What is the best way to Fund my Business Account?

    You can fund your Kuda business accounts via the following:

  • Transfer from a Nigerian bank account

  • Another bank’s USSD

  • Deposit from another bank.
  • How do I change my Online Banking Password, If compromised?

    You can always reset your Personal Kuda account password on your Kuda app.

    Do only Kuda Customers have access to Kuda Business Accounts?

    You need to operate or own a Tier 3 Kuda Account to be able to open a Kuda Business Account.

    Do I need to Endorse the back of my Check?

    We do not provide checks.

    What is a board resolution?

    Board resolution for opening a bank account is a resolution passed in a Board Meeting authorizing certain people in a company to open and operate the Bank account of that company.

    How does one submit my board resolution?

    The board resolution is submitted as part of KYB (Know your Business) on the Kuda Business website when upgrading to a Full Business account.

    Do customers need to submit a reference to set up a business account?

    No, they do not.

    Is there a need for a legal search if yes do customers pay for the legal search?

    We do not charge customers for CAC search.

    Can I change access rights on Kuda for Business?

    Yes, you can change access rights of your team mates.

    Can I update my company’s registered address on the app?

    No, you can’t.

    Can I change or update my company’s name on the app?

    No, you can’t.

    How do I request my bank statement?

  • Click Account then Account Statement

  • Enter the date range

  • Enter the file type

  • Click Get
  • Can I add my employees or team members as users? If yes, what is the maximum number of employees or team members I can add?

    Yes, the admin (primary signatory) can. There is no limit at the moment.

    Can I manage the privileges of my employees or team members?

    Yes, the admin (primary signatory) can.

    Is there any avenue for sub-accounts?

    No, not at the moment.

    What is the minimum opening balance?

    There is no minimum opening balance at the moment.

    What are the benefits to customers?

    Users can:

  • Open a fully functional business account in 5 mins

  • Make and receive payments

  • Add teammates to the account

  • Send invoices to customers to receive payments
  • Does your bank charge Account maintenance fees on corporate accounts?

    We don’t charge any form of fees on your Kuda Business account at the moment but if this changes we’ll notify you

    Can I open two different business accounts with the same Retail information?

    Yes you can.

    Can my CAC be used for more than one Kuda Business account?

    Your CAC No can only be linked to one account.

    Will the normal transfer fee apply to my other bank if I use the Add by bank (Mono) feature?


    How do I create an invoice?

  • Tap on Invoicing on your dashboard,

  • Add Invoice

  • Add the customer you want to send the invoice to (if it’s a saved customer the details will be displayed) else you’ll need to enter the Name, Email, Phone Number and Description.

  • Add the reason for the Invoice (e.g Payment for shoes)

  • Add the due date tap on Continue

  • Add the items (Name, Price and Description) this could either be Goods or Services being paid for (you can search for saved items in your inventory for easy reference) else you can add a new item

  • Tap on Continue to Send this invoice to your customer through email.

  • Once confirmed, the customer receives the invoice on the email entered when creating the invoice.
  • Is there a limit to the number of invoices I can send?

    No, you can send an unlimited number of invoices to your customers

    Can I accept online payments for invoices I send?

    Yes, customers would be redirected to a payment page where they can pay using their kuda account, debit/credit card or via bank transfer. Customers would also be able to settle invoices offline.

    How will I know when a customer has paid for an invoice?

    Each invoice you send will be on your dashboard. When you first send the invoice it will be tagged as ‘Pending’, once payment is made it will be tagged as ‘Paid”, and if invoice passes the due date it will be tagged as ‘Overdue’.

    Will customers get a receipt after settling an invoice?

    Yes, customers will automatically get a payment receipt once an invoice has been settled for their records.

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