Kuda Bank account tiers refer to the various levels or categories of accounts offered by the financial institution. Each tier comes with different features, benefits, limits and requirements. Kuda often design these tiers to cater to the diverse needs of their customers, ranging from basic services to premium offerings.
In other banks and fintechs in Nigeria, their accounts tiers usually lineup from Tier 1, Tier 2 and Tier 3. But Kuda own is different. Kudabank Account's Tiers are lined up like this: Tier 0, Tier 1 and Tier 3. So, there's no Tier 2. The Tier 2 on Kuda is usually refers to as Tier 1 and the Tier 1 is Tier 0.
However, in this article, we are going to walk you through the processes of upgrading your Kuda account Tiers to increase your transactions limits. But before that, let's look at the features, benefits and transactions limits Kuda bank Tiers are offerings.
Kuda Bank Account Tiers
At Kuda, bank accounts are categorized into three distinct tiers, each with its own set of rules and limitations designed to balance security, access, and regulatory compliance.
Tier 0 (T0)
Tier 0 is the most basic level of account, intended for users who have not yet confirmed their Bank Verification Number (BVN) and do not have a valid form of identification attached to their account. Accepted forms of ID include a driver's license, voter’s card, international passport, national ID card, or NIN slip. Accounts in this tier are significantly restricted, with stringent limits on transaction amounts and the total balance that can be maintained. These limitations ensure security but also mean that users at this level have access to only the most essential banking services and features.
Tier 1 (T1)
Tier 1 accounts are for users who have a confirmed BVN but have not yet attached a valid ID to their account. While these accounts offer more privileges than Tier 0, they still come with certain restrictions. Users in this tier enjoy higher transaction limits and fewer restrictions on account features compared to Tier 0. This tier allows for more comprehensive access to Kuda's banking services, enabling users to perform a wider range of transactions and manage their finances more effectively, though some limitations on maximum balances and transaction volumes remain.
Tier 3 (T3)
Tier 3 represents the highest level of account at Kuda, reserved for users who have both a confirmed BVN and a valid form of identification attached to their account. This tier offers the fullest range of Kuda’s banking services and features. Users with Tier 3 accounts benefit from the highest transaction limits and can maintain larger account balances than those in lower tiers. They have unrestricted access to all of Kuda's financial products and services, providing maximum flexibility and convenience. This tier is designed to offer a comprehensive banking experience, ensuring that users can fully leverage Kuda's offerings.
| Feature | Tier 0 | Tier 1 | Tier 3 |
|---|---|---|---|
| Can you add money to your account with a card? | No, you can't. | No, you can't. | Yes, you can. |
| Can you receive money? | No, you can't. | 50,000 naira at a time. | Unlimited. |
| Can you send money from your account? | No, you can't. | 50,000 naira at a time. | 1 million naira at once. |
| Can you send money to other banks? | No, you can't. | Yes, you can. | Yes, you can. |
| Can you pay bills from your account? | No, you can't. | Unlimited. | Unlimited. |
| Can you buy airtime from your account? | No, you can't. | Unlimited. | Unlimited. |
| Can you request a Kuda Card? | No, you can't. | Yes, you can. | Yes, you can. |
| What’s your maximum account balance? | Zero. | 300,000 naira. | Unlimited. |
Each tier at Kuda is thoughtfully structured to enhance user experience progressively, encouraging customers to provide necessary identification and verification to unlock more advanced banking features.
In addition, if your account is on Tier 3 (T3), you have the ability to set your daily transfer limit, allowing you to control the maximum amount you can send from your account each day. If you have a BVN and a valid ID, we encourage you to upgrade your account now to take advantage of this and other enhanced features.
How to Upgrade Kuda Bank Account Tiers
Upgrading your Kuda Bank account allows you to access more features and higher limits. Follow the steps below to upgrade your account from Tier 0 to Tier 3:
Tier 0 to Tier 1
- Verify Your BVN:
- Open the Kuda app and log in to your account.
- Navigate to the account settings or profile section.
- Look for the option to add or verify your BVN.
- Enter your BVN and follow the prompts to complete the verification process.
- Review:
- Ensure your BVN has been successfully verified.
- Your account should now be upgraded to Tier 1 with the following limits:
- Maximum account balance: 300,000 naira.
- Can receive up to 50,000 naira at a time.
- Can send up to 50,000 naira at a time.
- Ability to send money to other banks and request a Kuda Card.
Tier 1 to Tier 3
- Requiremnts: Provide a Valid ID
- Open the Kuda app and log in to your account.
- Navigate to the account settings or profile section.
- Look for the option to upload a valid ID.
- Acceptable IDs include:
- Driver’s license
- Voter’s card
- International passport
- National ID card
- NIN slip
- Follow the prompts to upload and verify your ID.
- Confirm ID Verification:
- Wait for Kuda to verify the provided ID.
- You will receive a notification once your ID is successfully verified.
- Set Daily Transfer Limits:
- Once your ID is verified, your account will be upgraded to Tier 3.
- You can now set your daily transfer limit to control the maximum amount you can send daily.
- Enjoy Enhanced Features:
- Your Tier 3 account will have the following benefits:
- Unlimited maximum account balance.
- Unlimited amount that can be received at once.
- Can send up to 1 million naira at once.
- Unlimited spending on bills and airtime.
- Ability to request a Kuda Card.
General Tips for a Smooth Upgrade
- Ensure Accuracy: Double-check all information before submission to avoid delays.
- Contact Support: If you encounter any issues, contact Kuda’s customer support for assistance.
- Keep Documents Handy: Have your BVN and ID documents ready before starting the upgrade process.
By following these steps, you can seamlessly upgrade your Kuda Bank account and enjoy the full range of banking services and higher transaction limits available at Tier 3.
The Bottom Line
Upgrading your Kuda Bank account is a straightforward process that significantly enhances your banking experience by unlocking additional features and higher transaction limits. Starting from Tier 0, you can progressively move to Tier 1 by verifying your BVN, and then to Tier 3 by providing a valid ID. Each tier offers greater flexibility and convenience, culminating in the comprehensive services available at Tier 3, including the ability to set daily transfer limits and access unlimited account balances.
Ensuring accuracy and having your documents ready can facilitate a smooth upgrade process. Should you encounter any issues, Kuda's customer support is available to assist you. By upgrading to higher tiers, you can fully leverage Kuda’s robust banking services, making your financial management more efficient and seamless.
Taking these steps not only improves your account’s capabilities but also aligns with regulatory requirements, ensuring a secure and optimal banking experience. Enjoy the enhanced benefits of your upgraded Kuda Bank account today.