Is it really possible to save in US Dollar in Nigeria?
If yes, is it legal and safe? How and where can I start? Those are the questions I’m going to answer in this blog post. But let’s start answering the first question;
Why Should I Save in US Dollar in Nigeria?
Because Nigeria inflation rate is getting worse!
Naira was one of the strongest currencies in the world, even it was once stronger than the famous US Dollar. But now, reverse is the case.
Nigerian Naira (NGN) is becoming one of the weakest (cheapest) currencies in the world.
Although Naira is not among the top 10 weakest in the world for now, but the current state of Naira is not something to be happy about. It’s affecting our cost of living.
If you have saved N500,000 in the bank last year (2020) when $1 was N410, it simply means you saved approximately $1,220.
But now in 2021 when a US Dollar is closing at N522, that your N500,000 will now be $958 approximately.
By saving in Naira, you’ve lost about $262 which is equivalent to N136,764.
But you may be thinking that; ehn, I still have the N500,000 I saved since last year till date. Nothing has been deducted.
Yes, you’re right. That N500,000 is still there but let me tell you this;
That your N500,000 is now N363,764 ?
You can calculate that yourself using the US Dollar rate when you saved the money and the current US Dollar rate.
If a plot of land in your area cost N500,000 that last year, how much will it be by now? Probably it will increase to something close to N700,000.
Remember, you can afford to buy that plot of land for N500k last year, but now, you can’t!
Same thing applied to most thing you buy and use at home such as vegetable oil, rice, and so on. The prices are increasing every day.
Because those industries calculate their prices with respect to US Dollars’ exchange rate.
The price of everything is increasing and Nigeria’s Naira is losing its value, that’s a big disaster and the reason you should learn how to save in US Dollar in Nigeria now!
You should start saving in US Dollar as that will put you on safer side, thereby making money in the process.
ALSO READ: How to Smart Ways to Save Money in Nigeria
The next question you might be curious about is;
Is it legal and Safe to Save in US Dollar in Nigeria?
First, it is 100% legal to save in any type of currency in Nigeria as long as you’re not scamming or engaging in money laundering.
Second, it is safe depending on which platform or how you’re saving your US Dollar in Nigeria.
Now, let’s talk about where and how you can start saving US Dollar in Nigeria.
How to Save in US Dollar in Nigeria (and Earn Money)
1. Piggyvest FLEX Dollar
Piggyvest has been around for a while, and it’s currently the best platform to save money in Nigeria. Although there are other competitors like Cowryrise but Piggyvest seems to be undefeated.
Well, we are not here to praise Piggyvest.
But how can you save in US Dollar in Nigeria with Piggyvest?
It’s simply by using the “Flex Dollar” feature on the platform. Piggyvest’s Flex Dollar lets you save in US Dollars even though you are in Nigeria. Here is how to do it;
How to Save in US Dollar in Nigeria Using Piggyvest
- Click here to Sign up for a new account;
- Verify your email address, phone number (under Account Tab >> Account Setting);
- Add your Debit card(s) linked with your BVN (under Account Tab >> My Cards and Bank Settings);
- Note that Piggyvest will give you a new account number (Go to Account Tab, you’ll see Flex Number by WEMA) copy that number;
- Make transfer from your Bank account to that FLEX number you copied earlier;
- If the transfer was successful, you should see the money in your Piggyvest Balance now (Confirm it)
- If the money is now in your Piggvest account, it’s time to buy the US Dollar;
- Click on SAVINGS on your dashboard, then scroll down to click on Flex Dollar;
- Click on “Save in Dollars”;
- Check the current dollar rate, if it’s okay by you, type in how many DOLLARS you want to buy;
- Then proceed to pay with the Balance in your Piggyvest (the one you transferred earlier) or pay with your ATM Card
That’s how to easily save in US Dollar in Nigeria with Piggyvest.
Here’s a big deal about Piggyvest;
You can make money while you’re saving on Piggyvest by interest, investing or referring your friends to join Piggyvest.
If you join Piggyvest with this link, I will earn N1,000 for referring you, and you’re also earn N1,000 for joining. But you must complete all registrations and start saving money before the money will be released to us.
Now, let’s talk about another way you can save in Dollars in Nigeria;
2. Get a Domiciliary Bank Account
Getting a Domiciliary account in Nigeria is another way to save money in US Dollars.
And also, a double win for you if you will like to receive US Dollars from your family members or clients outside Nigeria.
Getting a domiciliary account in Nigeria is easy but the requirement might be a problem. For instance, some banks require minimum deposit of $100 (N52,000).
That might not be a problem tho, but you MUST bring two current account users of that bank (e.g. GT Bank, Zenith etc.) as referees.
Because of these two current account users, many of us were left with no choice than to give it up.
But oh oh, there’s a solution ?
The solution requires no minimum deposit, and you don’t need to bring any current account user.
Will you like to know?
Well, we rise by lifting others ?
How to Get Free Domiciliary Account in Nigeria
- Open a new account at WEMA Bank;
- Get the ALAT by WEMA app on Google Playstore;
- Login to the ALAT app using your WEMA Bank details;
- On the homepage, click on “Accounts”;
- Then click on “Create Account”;
- Finally, click on “Domiciliary Account”;
- Click on “Proceed” and,
- Your Domiciliary account will be created in less than a minute!
You can maintain maximum of $2,000 on the ALAT’s domiciliary account. If you think you may need more, go to WEMA Bank to lift the limit.
But isn’t that amazing? You can create a DOM account without leaving your house and it’s FREE. People sell this kind of information but to me, sharing is caring. Enjoy!
3. Cryptocurrency (Save in USDT)
Cryptocurrency is a life saver for many of us. Although we may not be trading, but saving in cryptocurrency has been one of the passive ways to make money in Nigeria.
I’m not saying you should that saving in all other type of cryptocurrencies but if you’re looking for another good option to save in US Dollars in Nigeria, then buying and keeping USDT is the best.
What is USDT?
USDT are coins issued by Tether, currently the third largest digital coin.
USDT is just like the US Dollar, but the difference is that;
US Dollars are held by banks and can be transfer between banks to banks, use physically as means of exchange.
But USDT is a stable digital coin tied to US Dollar which can be used as means of exchange between crypto wallets ($1 = 1 USDT).
If you buy 100 USDT, it also means you have $100.
Currently, you can’t buy USDT from any bank (it’s a digital coin like Bitcoin). But you can buy as much as possible of USDT on almost all cryptocurrency exchange platforms.
How to Save in US Dollar in Nigeria with “USDT”
- Use or Get a crypto exchange platform;
I recommend Buycoins, it will be very easy to add funds from your Naira bank account to Buycoins and then buy USDT.
You can use Binance too (the easier one for you).
- On your crypto account, create USDT wallet if it hasn’t been created for you;
- If you are using a Nigerian crypto exchange like Buycoins or Bundle, you can easily buy USDT with your bank account (Kuda, GT, Zenith, FCMB, Access are mostly accepted)
- If you’re using an exchange platform like Binance, you will have to buy the USDT using P2P method (risky) or convert your coins like Bitcoin to USDT (if you have).
- That’s all.
Buying and storing USDT is same as keeping the US Dollars, but can only be done on cryptocurrency wallets.
4. Buy and Sell Foreign Currencies
This is my second-best choice when it comes to saving US Dollars in Nigeria.
All you have to do is to buy foreign currencies from those who want to sell and you keep or sell later. The reason why this is a good option is because you’ll be saving money and at the same time earn money.
Let’s say you bought $100 at the rate of N450 per dollar, that means you spent N45,000 to buy that dollars.
But later, you might sell the $100 at the rate of N470 or even N510 per dollar, that is N47,000 or N51,000… You used a stone to kill two birds; saving in US Dollar and making small profits.
Note that the earning potential here is unlimited, the more you buy, the more the profit.
I’ve once earned over N70k in a day by just buying and selling US Dollars.
This sound like what you like to do, right?
But there’s a problem.
You will need all or any of the following payment accounts;
PayPal is the most famous and widely-used payment gateway in the world, then followed by Payoneer.
You can get Payoneer and Skrill in Nigeria without any issue, you need to verify with your real ID and you’re done.
You can also register a PayPal account in Nigeria, but you’re only limited to receiving money. You can’t send or withdraw… such a bad thing!
But what if I show you how to create a PayPal account that can send and receive funds in Nigeria, will that be great? I have a YouTube video where I show people how to do that.
So click here to got to my YouTube channels, (and subscribe please) the video is waiting for you there.
Forget others, you can’t create an account as someone residing in Nigeria (except you do it the criminal ways).
If you have PayPal, Payoneer and Skrill accounts, you can start buying and saving US Dollars in Nigeria (and other foreign currencies like EUROS) and make money in the process.
JUST IN CASE: I buy Payoneer, PayPal and Skrill funds. CONTACT ME if you want to sell $50 minimum.
Conclusion: How to Save in US Dollar in Nigeria
The four different ways explained above are working for me perfectly, and I know it will work for you too.
If you know any other way, we can save in US Dollars, kindly put it in the comment box below and I will check it and maybe update this blog post after testing it.
I know you might skip the paragraph I mentioned that I can teach you how to create a working PayPal account that can send and receive funds in Nigeria. It’s on my YouTube channels, click here to check it out.
If you have any question, please let me know through the comment box below and I will reply as soon as possible.
But this article might be helpful to someone else, don’t you think so?
If you think so, kindly share with your friends by clicking on the floating social media icons below. AND, don’t forget to subscribe in other to receive helpful blog posts like this.
Thanks for reading.
This post “How to Save in US Dollar in Nigeria” first appeared on https://gbolamedia.com
Chipper Cash vs PayDay — Which one should you choose?
Chipper Cash vs PayDay – Who do you think will win?
I know that you have heard about these two platforms before now and might have used one or two of them. In this head-to-head review, we will compare the two famous dollar and virtual card providers, Chipper Cash and PayDay, to help you determine which one is better suited for your needs.
We will examine various aspects such as usability, fees, features, and customer support to provide you with a comprehensive analysis.
Kindly note that this is just a blog post from my personal experience and what I see on social media, not sponsored content by any of the companies I’m reviewing here.
If we’re clear on that, let’s start.
Of all features that make an app stand out, Usability is very important and this means how easy it is for users to navigate the app.
Chipper Cash has a very basic design and experience, while PayDay has the nicest design and it’s very easy to navigate.
A use case for why this is important:
Chipper Cash would never show you the exchange rate unless you want to “Send” or “Request” funds, which you’re not likely to see. But on PayDay, you know how much a dollar costs before a purchase.
And another use case on this usability part is the overview screen which is (normally) meant to show your recent activities or overview of what you can do.
Every human is a business person by nature, so in most cases, we tend to look for the cheapest option and such happens when it comes to choosing a Dollar or virtual card provider.
A lot of people complain that Chippers Cash has the most expensive exchange rate and this seems to be true.
For instance, as of yesterday, I bought a dollar on PayDay at ₦742 while it cost ₦781.
But before we agree that Chipper Cash is not the “cheaper”, let’s break down the rates.
To create a VISA or Mastercard virtual card on PayDay, you’ll pay $5 as a creation fee while you’ll pay ₦2,000 on Chipper Cash.
And before you can buy anything with dollars on PayDay, you have to swap the naira in your wallet for a dollar, then top up your card… They charge 0.5% of how much you’re swapping (maximum of $5).
While you don’t pay any swapping fee on Chipper Cash.
Let’s assume I need a virtual card of $10, here is the breakdown:
- Creation fee – $5
- Top up – $10
- Swapping fee – $0.075 (0.5% of $15)
- Total ⇒ $15.075
This converted to Naira in PayDay’s rate would be: ₦742 x 15.075 => ₦11,185.65
For Chipper Cash:
- Creation fee: ₦2,000
- Top up: $10
- Total: $10 + ₦2k
Let’s convert this to Naira in Chipper Cash’s rate: (₦781 x 10) + ₦2,000 ⇒ ₦9,810
It’s clear that Chippers Cash is “cheaper” but for the first time, you are creating the card.
If you already have a card but want to top up, PayDay is cheaper but the difference is not up to ₦40 (781 – 742).
In this case, there’s no winner.
#3. Customer support
Because we are human and we are not perfect, what we manufacture, create, or produce as well will not be perfect.
That’s why there is customer support for businesses in case things go south and this is very important if you’re thinking of choosing a Dollar or virtual card provider.
PayDay has the worst customer service, although they’re active on Twitter busy creating awareness for the product, but put zero to meager effort into their customer support service.
I once had an issue on February 16, I sent them a message but they replied on March 2nd… that’s 2 weeks!
The recent issue I have with them which I’ll explain later took them 18 hours to send an “automated” response and since then, I’ve not heard anything from them and the issue hasn’t been solved. They immediately close the conversation without resolving it.
The evidence of their poor service is on Twitter, just visit their page to enjoy the comments.
Chipper Cash, they have a faster response rate when it comes to Customer service… I had an issue creating a dollar card and I reached out on Twitter, immediately I received a response and the issue was solved before I see the response.
And I’ve not yet seen any trend where people complain about Chipper Cash’s support.
Winner: Chipper Cash.
#4. Success Rate
Still, on the imperfection, anything can happen at any time but you definitely don’t want to put your money on a platform that’s more likely to fail.
To be frank, Chipper Cash has the highest success rate while you may need to go to the nearby mountain to pray and fast before using PayDay.
This is the top reason why a lot of people are trying to contact PayDay’s support and I think the messages are too much for their support to handle.
I personally have an ongoing issue with them. I want to renew my domain names and I decided to use PayDay, I deposited some Naira, swapped to USD, and decided to get a virtual Dollar card with $34.74.
I expect PayDay to deduct the Money, give me a dollar card with $29.74 as a balance, and remember their $5 card fee.
I tried to buy the card, no response if it failed or it’s successful, I guess it’s a service… I keep on trying until I’m tired.
So I checked my balance $15 has been deducted ($5 in 3 times).
I had no idea why because up till now, no card has been issued to me… I had $19.74 left which I quickly sent to my Chipper Cash before PayDay got angrier.
I top up my Chipper cash with some Naira, purchase my dollar card and I got it immediately
Up till now, PayDay hasn’t issued the card to me or refunded me. People are complaining a lot about this same issue.
The only (trending) complaint about Chipper Cash is the fee which I’ve explained already.
Update on 16th of May, 2023
The founder of PayDay tweeted to celebrate their milestone of having over 600k customers and I replied with my complain.
As seen in the screenshot above, he asked for my PayDay tag and immediately, the magic happened. I got my $15 refunded!
I hope they PayDay improves on their infrastructure instead of having multiple card creation failure and refund.
But for now, Chipper Cash wins here.
Winner: Chipper Cash
#5. Downloads & Reviews
So far, I’ve been referencing my experience with both platforms and it’s high time we see how people are reacting to both apps.
I’ve mentioned that PayDay doesn’t have good reviews on Twitter compared to Chipper Cash but let’s check the Play Store to see what the users are saying with figures.
- 100k+ Downloads
- 3k+ reviews
- 2.1 out of 5 average ratings.
- Most rated 1 stars
Chipper Cash has:
- 5M+ Downloads
- 109k reviews
- 4.1 out of 5 average ratings
- Most rated 5 stars.
This is evident that average people would prefer to use Chipper Cash instead of PayDay.
Now, I’m not talking about the number of downloads or reviews, but the average ratings… That shows how satisfied customers are.
Winner: Chipper Cash
Most of the time, we want to get something done as quickly as now. This is why I include this point to let you know how far.
Currently, Chipper Cash is down and I’ve updated the app maybe it’ll be resolved but still down… imagine if I need to pay for something now and Chipper Cash is my only option, my faith on candle sticks.
People complain about this, but to be honest it’s not like that every day as it’s mostly working… I would say the uptime is around 95%.
I have never seen a PayDay app crash or have downtime and people don’t complain about that as well.
Conclusion: Chipper Cash vs PayDay –Which one is the best?
In the battle between Chipper Cash and PayDay, both platforms offer impressive features and services. PayDay stands out for its user-friendly interface, app’s uptime, and lower exchange rate, while Chipper Cash excels in Customer support, success rate, and user feedback.
Ultimately, the choice between the two dollars or virtual card providers depends on your specific needs and preferences.
I recommend you assess the fee structures, available features, and usability of both platforms to make an informed decision that aligns with what you need the platform for.
As mentioned earlier, this is not a sponsored post but an honest review from my personal experience and the trend on social media platforms.
If you think something is missing or would like to drop any feedback regarding your experience on any of these apps, kindly use the comment box as it’ll be helpful to everyone reading this blog post.
Don’t forget to share if you think this review is good enough, for people to be informed.
5 Best Dollar and Virtual Card Providers in Nigeria
Are you a Nigerian but it’s quite difficult to make international payments online? What you need is one of these dollar or virtual card providers!
As the world is becoming a global village, the way we make payments is also changing, and thanks to Technology for that. We have the likes of PayPal, Square, Venmo, and gift cards that make payment so fast and easy for people in developed countries like the United States.
But in some African countries like Nigeria, it’s a very different story as nothing seems to be working for us when it comes to making borderless payments.
A few months ago, we received announcements from the banks that our Mastercard and VISA would be unable to pay for international transactions.
So, does that mean we should stop shopping on Amazon, eBay, or on any international sites?
In Nigeria, many people are turning to the dollar and virtual card providers to meet their international payment needs.
Here are the top 5 dollar and virtual card providers in Nigeria
#1. Chipper Cash
Chipper Cash is a mobile payment platform that allows users to send and receive money across Africa. The platform also offers dollar and virtual card services to its users. With Chipper Cash, users can easily create and link a virtual card to their account.
In addition to its dollar and virtual card services, Chipper Cash also offers a range of other features, including the ability to buy airtime, pay bills, and save money. The platform is available for both Android and iOS devices, making it accessible to a wide range of users.
Many users complain that the Chipper Cash exchange rate is higher than other card providers, but they all agree that the card works anytime and any day, which is still good, I mean, we don’t have a choice for now.
To get started with Chipper Cash, visit their website at https://chipper.cash/
PayDay is another popular dollar and virtual card provider in Nigeria. The platform offers a range of payment solutions, including virtual cards, and foreign accounts. With PayDay, users can easily create virtual cards and use them to make online purchases.
In addition to its dollar and virtual card services, PayDay offers a range of other features, including the ability to send money and receive payments. The platform is available for both Android and iOS devices, making it accessible to a wide range of users.
Elon Musk’s company, Starlink recently choose PayDay as one of their payment processors in Nigeria which is a huge partnership proving that PayDay gat some levels too.
Oh, of all the platforms listed here, PayDay has the best User Interface, well maybe this is not valid but I love the design personally.
To get started with PayDay, visit their website at https://www.usepayday.com/
Cardtonic is a platform that allows users to buy, sell, and exchange gift cards, as well as provide dollar and virtual card services. The platform offers competitive rates for its services, making it a popular choice for those who need to make international transactions.
Cardtonic also offers a range of other features, including the ability to buy and sell Bitcoin, pay bills, and transfer funds.
How does it work?
Let’s say you want to buy an item that costs $200 on Amazon, you can head over to Cardtonic to buy an Amazon gift card of that amount, and you’re good to go.
The platform is available for both Android and iOS devices, making it accessible to a wide range of users.
To get started with Cardtonic, visit their website at https://cardtonic.com/
#4. Barter by Flutterwave
Barter is a virtual card service provided by Flutterwave, one of the leading payment platforms in Africa. The platform offers a range of payment solutions, including virtual cards, physical cards, and dollar accounts. With Barter, users can easily create virtual cards and use them to make online purchases.
In addition to its dollar and virtual card services, Barter offers a range of other features, including the ability to pay bills, send money, and receive payments. The platform is available for both Android and iOS devices, making it accessible to a wide range of users.
To get started with Barter by Flutterwave, visit their website at https://barter.flutterwave.com/
#5. Flip by Fluidcoin
Flip is a virtual card service provided by Fluidcoin, a cryptocurrency exchange platform. The platform offers a range of payment solutions, including virtual cards and dollar accounts. With Flip, users can easily create virtual cards and use them to make online purchases.
In addition to its dollar and virtual card services, Flip offers a range of other features, including the ability to buy and sell Bitcoin, pay bills, and transfer funds. The platform is available for both Android and iOS devices, making it accessible to a wide range of users.
To get started with Flip by Fluidcoin, visit their website at https://useflip.app
Enjoy Cross-border with Virtual card providers in Nigeria
The rise of digital payment platforms has made it easier for people to transact across borders. The dollar and virtual card providers listed above offer a range of payment solutions that make it easy for Nigerians to make international transactions.
These providers offer competitive rates and a range of features that make them a popular choice for those who need to send and receive money across borders.
I will advise you to get 2-3 of these card providers in case one fvck up. I have 5.
Which of these providers have you used before? Mind sharing your opinion? Okay, you have the floor in the comment section.
Kuda Overdrafts: Eligibility and How to Qualify to Borrow Money from Kuda Bank
You’ve heard the popular anthem on YouTube, Streaming apps, or where that says: “No shame in borrowing when you can easily take Kuda Overdrafts” and you wonder what’s this all about? How can I qualify to borrow money?
I will quickly talk about that in this blog post. And I assume you don’t have an account with Kuda bank yet, but if you already have one, you can navigate to the right part for you by using the table of content below.
What are Kuda Overdrafts?
Kuda Overdrafts are money borrowed for a short period of time to take care of urgent issues. You can say Kuda Overdraft is a “short-term” loan, that’s how Kuda Bank describes it.
It’s not like a loan that you have to request before it’s disbursed, but the process is automatic, hence, it is called “Overdrafts” and not technically “loan”.
How Kuda Overdrafts Work
Assuming you have N50,000 on your Kuda bank, and you need to pay school fees of N100,000, you can withdraw that N100,000 to pay your school fees and your account will be -50,000 (If you are qualified already for overdrafts).
Just understand it as the way you borrow airtime or data from MTN when you need it urgently. You don’t need to visit the MTN office or fill any form before you borrow. Once you’re a regular user of MTN, you can borrow anything on the SIM and pay on your next recharge.
That’s how Kuda Overdrafts work – Just like using a credit card in foreign countries).
Learn More: What is Kuda Overdraft?
Because some Nigerians are victims of embarrassment resulting from taking loans online, you may think that Kuda Overdraft is in that caliber of embarrassing their customers. But Kuda Bank is not!
I’ve been using Kuda Bank for a few years and I enjoy their banking service. When I qualify for overdrafts, I took it (without shame) to see if they’ll frustrate my life but till now, I’ve never been embarrassed or stalked because I borrow money from Kuda bank.
Kuda Overdrafts Vs Other Loan Apps
- Low interest: Kuda Bank takes a very small interest. I mean very low as 0.3% daily interest. That is just N30 daily if you borrow N10,000 – If you pay up within 10 days, you’ll pay just N300, or let’s say you pay after a month, you’ll pay just N900. Crazy. Right?
- No Paperwork: You’re not filling any form either online or offline before you can qualify for Kuda Overdrafts.
- No Collateral: This may sound like an invalid reason why borrowing money from Kuda Bank is the best, but it is a valid reason. Those who said they don’t take collateral are right, but they’ll use the contacts on your phone as their collateral. You gerrit?
- No Embarrassment: As I said above, these loan apps will copy all the numbers on your contact list for special embarrassment later. Kuda bank doesn’t do this at all, you pay when you’re financially buoyant.
- I will also say borrowing money from Kuda bank will give you peace of mind, they will never call or email you to repay.
To borrow money from Kuda bank is not a “squid game” unlike fake loan apps that run after people’s life. If you want to know more about these loan sharks and how to avoid them, read this blog post.
How to Qualify for Kuda Overdrafts
There are steps you must take before you can be able to borrow money from Kuda Bank. They are:
- Become a User of Kuda Bank (Register and Verify your account)
- Use Kuda Bank regularly (to transfer, receive, pay bills, buy airtime)
- You’ll qualify automatically (Again, you don’t need to fill any form)
#1 Become a User of Kuda Bank
All you have to do is to download the Kuda Bank app on either Playstore or Appstore (for iOS), register, verify your BVN, phone number, and email address.
You may also need to upload your NIN slip, and you’re good to go. This is the first step to qualify for KUDA overdrafts.
#2 Use Kuda Bank Regularly
After becoming a user, the next step is to become a frequent user and this is what will qualify for Kuda’s “short-term” loan (overdrafts).
But you may want to ask how often or regularly should you use Kuda Bank?
Well. I don’t have a straight answer, but In my case, I use Kuda for 80% banking that I want to do. I use it to receive money, send money, bill data, and airtime. I don’t just keep N1,000 there, I keep most of my Naira in my Kuda bank account.
#3. You’ll Qualify Automatically
The system has been programmed to upgrade regular users to have access to Kuda overdrafts. So, you don’t need to request approval or whatsoever. Just use Kuda Bank regularly and you’ll get your own “lunch” from Kuda.
PS: The first time I received a notification that I’m qualified for Kuda Overdrafts, I can only borrow N30,000 but later, I think after 2 months, I can get up to N75,000.
I believe the more you keep using the Kuda for banking, the more they’ll increase how much you can borrow on the app.
How To Borrow Money on Kuda App?
On the home screen of your app, simply swipe to, or click on “Borrow”, adjust the range element to how much you need and click on “Get your Overdrafts”. That’s all.
What the video below to see how to do that:
Borrow Money Without Shame, Take Kuda Overdrafts
This is the first time I will see something like this aside from borrowing from telcos. Kuda Bank is really stepping up its game and it has been a great experience for us (customers).
I enjoy taking Kuda overdrafts without shame, no harassment, no room for getting stranded on cash. Just become a regular user, and you’ll enjoy the same experience.
But some people do ask; what if they fail or refuse to pay back the money they borrow from Kuda Bank? Well, I don’t know what will happen, but I’m sure Kuda Bank has a way to sort it out amicably or legally.
You can’t outsmart Kuda Bank if you’re thinking of taking the overdrafts “japa”. You can’t japa because security agencies will nab you. This is not a threat, remember I said Kuda Bank will never embarrass you like some loan sharks used to do.
But don’t be like those who plan to run away with Kuda Overdrafts without payment back, it’s not fair, you know.
This post “Kuda Overdrafts: Eligibility and How to Qualify to Borrow Money from Kuda Bank” first appeared on https://www.gbolamedia.com – Do not copy without permission.