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How can I open a PayPal account in Nigeria, Is PayPal available for Nigerians, Can I send and receive funds using PayPal in Nigeria A lot of queries related to “PayPal Nigeria” are trending on search engines till this moment.

And I’m sure it is because you are among these smart entrepreneurs who are earnestly in need of a PayPal account in Nigeria, that’s why you landed on this page either from social media or a search engine.

But whatever the case may be, I will teach you right in this blog post how to create your own PayPal account in Nigeria that sends and receives funds.

In case you’re just hearing the term “PayPal“, it’s the world’s most popular method of payment used and accepted by many countries across the globe.

With a PayPal account, you can receive money from people living abroad (US, UK, Canada, India, etc.) and you will not provide them details of your Nigeria bank account. All you need to do in order to receive money from people through PayPal within and outside Nigeria is to provide them with your email address as used in the PayPal Account creation.

Unfortunately, PayPal doesn’t support users from Nigeria and this has become a major threat to making money online in the country because most of these online business requires PayPal for funds withdrawal.

But PayPal is gradually considering us but many of us in Nigeria still face some difficulties opening a PayPal account that sends and receives money efficiently.

PayPal’s consideration of Nigerians is not that okay because most Nigerians with PayPal accounts are unable to make money online due to the fact that a Nigerian PayPal account can not send or receive money conveniently and accurately.

Although there are ways to bypass this by using VPN etc..

But, this post seeks to enlighten Nigerians who intend to make money online on the official procedure for opening a PayPal account in Nigeria that sends and receives money.

Let’s talk about it right now…..

How to Open a PayPal Account in Nigeria

1.      Define your purpose

Before going on to set up your Nigeria’s PayPal account, you’ll need to have a well-defined purpose for opening.

This is what I mean, Are you a merchant, freelancer, affiliate marketer, or an internet marketer who wishes to accept payment through PayPal, you’re good to go.

Although PayPal isn’t made primarily for online businesses only, you can still make payments if you’re into the analog (offline) business world, but it’s not recommended.

Simply put; if you do digital business, accept digital payments through PayPal in Nigeria. If on the other hand, you’re on the analogue side of the divide, it’s best you stick with your conventional mode of payment.

The bottom line is knowing what you need for the PayPal account but, before thinking of opening a PayPal account in Nigeria.

The requirements to open a PayPal Account in Nigeria?

You don’t need much in order to get a verified PayPal account in Nigeria. But you’ll need the following:

  • An active email address
  • A government-issued ID card (National ID card, Voters card, Driver’s license, etc.)
  • Your debit card (MasterCard or Visa)
  • And your computer (or smartphone) with a data connection.

If you have gotten those items listed above, then let’s start creating your PayPal account together.

2.      Visit PayPal’s official website

Make sure you’re doing this on a PC or a good smartphone in “Desktop Mode” using a good browser like Chrome, Firefox, or Safari.

Then, Go to www.paypal.com and you will be redirected to https://www.paypal.com/ng.

PRO TIP: PayPal Nigeria has a lot of limitations, I recommend opening a PayPal account in other countries.  For instance, Lesotho’s PayPal works perfectly and without a VPN. Got to https://www.paypal.com/ls.

3.      Click on SIGN UP

After visiting the official PayPal account website, at the homepage (the header), choose sign up since you’re creating a new PayPal account.

Afterwards, fill in the following details:

  • Choose your country (Nigeria)
  • Fill in your first name
  • Fill in your last name (Your Surname)
  • Input your valid email address. I’ll advise you to create a new email for this purpose (you’ll be asked for a phone number later on).
  • Choose a suitable password. Note that Passwords should include alphabets, decimals, and special characters like !?&-*;:#@.
  • Re-enter your password to CONFIRM and
  • Select NEXT.

4.      Fill In Your Correct Personal Details

The next page will request your personal contact details. It’s a common trend among Nigerians to provide incorrect details while filling out forms either online or offline. Some do this on purpose to scam or to hide their privacy while others do it due to an error of some sort.

When it comes to filling out information on sites like when you’re trying to open a PayPal account in Nigeria, using correct/official details is important as a little mistake could lead to you not being able to add a card for receiving payment or make payments yourself.

Be sure to use official details when filling out forms on payment sites like this. Data like Full name, date of birth, residential address, and postal code should be correct as any discrepancies noticed may invariably render your account useless.

NOTE: What I mean by using your official personal details is to use the information provided in your government-issued means of identification such as your National ID card, Voter card, Driving license, or international passport.

To correctly open a PayPal account in Nigeria, do the following

  • Choose your nationality. (Which should be Nigeria)
  • Your residential address comes next. You’re provided with two lines, ‘Address line 1’ and ‘Address line 2’. Make sure your address matches the address used in your ID card or the means of identification you’ll be using.
  • Your city and postal code is the next option. You already know your city but you probably don’t know your postal code. It’s easy to get any information we need these days via the Internet. So you could Google “State postal codes“, Let’s say you live in Lagos State, just Google “Lagos State postal codes” and you’d have a complete list of postal codes for various areas in Lagos State.
  • After filling out your city and postal code you’d need to input your state. This isn’t your state of origin, rather it’s your state of residence which should contain your city above. If your city is Port Harcourt, it means your state will be Rivers State.
  • Your date of birth. This also should be the same as what’s on Government issued ID card you’ll be using
  • Lastly, you will have to input a valid phone number. The mobile number of choice should be an active number because PayPal will send an OTP to confirm you’re the real owner of the account.

5.      Accept the PayPal Terms

After this, you’re left with two unchecked boxes, the first one being “Stay logged in for faster checkout“, Once checked, you don’t need to log in each time you want to pay or receive money as long as you don’t change the browser.

The second box lets you confirm PayPal’s ‘User agreement’ and “Privacy statement’. Though it’s quite lengthy, reading these terms and policies helps in reducing future issues. After reading the agreement and statement, accept and click on the blue “Agree and Create Account” tab.

Congrats, you’ve successfully opened your new Nigeria’s PayPal account! But hey, don’t get too excited as you can’t send or receive payments yet.

No worries, you did nothing wrong but just continue with the steps below;

6.      Verify (and Activate) Your Nigeria’s PayPal Account

After the first steps above (Opening an account), it’s now time to verify the PayPal account in Nigeria and you will do so by first adding a card to it.

Your email address will be used to make payments directly to your PayPal account and in order to activate this you need to first of all confirm your email address.

Go to the email you used to register for PayPal and on getting to the email, you will see a new message (from PayPal) asking you to confirm your application.

A four-digit PIN will be sent to your email, After confirmation, you’ll be able to send and receive payments and more using your Nigerian PayPal account. You’d also be assigned a unique ID called “Merchant ID” which is a 15-character key used in identifying your PayPal account.

Happy? Cool but you need to do something to perfectly set up your PayPal account in Nigeria. Here is what you need to do:

After confirming your email address, you’ll be taken to a new page where you are asked to “Add a card to your PayPal account“. You can decline, if you wish to add your card later.

But, if you choose to add a card to verify your PayPal account as a Nigerian, note that Verve cards won’t work!

You’re to use either Visa or MasterCard which should work perfectly with your Nigerian PayPal account. Your bank of choice also plays a role in determining if your card will work on PayPal. UBA, Zenith Bank, Access Bank, and GT Bank MasterCard are among the top cards that work perfectly for international payment and they’re acceptable by PayPal.

Update: These cards no longer work, kindly use a virtual card provider like Chipper Cash.

So contact your bank to see if your card is compatible with international online payments.

How to Add a Card to Verify PayPal Account in Nigeria

If your card is compatible, go ahead and link it to your PayPal account. Here is what you need to note:

  • Credit Card Number: This is the sixteen (16) digit number you usually see on the back of your debit card
  • Expiring Date: The month/year that your debit card will expire. It’s like 12/30, 12/19 etc.
  • CVV (or CSC): This is the 3-digit number usually seen at the back of your card, above the signature. It’s very important, it serves as your password to access your card. Don’t let people see it at all because scammers are scavenging everywhere.

If you have added your card details to the recent PayPal page, your card has been successfully linked to your PayPal account and you can now send or make payments. You need to complete your card linking as follows;

Get 3 3-digit numbers to finally complete your PayPal account opening.

But Note: You need to have approximately $2 in your bank account which is equivalent to around N500.

PayPal will deduct $1.95 (let’s say N750) but don’t worry as this money will be sent back to your account after verifying that you’re the real owner of the account.

Your bank will send you the notification that it was deducted from your account (as usual credit alert) and a few hours later when you’re refunded, you will see another notification on your phone with some random text consisting of alphanumeric data.

The data looks like PP*5685CODEkhgdkmg and so on.

You just need the 4-digit number after that PP* to complete your PayPal account verification and card linking.

After entering the 4-digit number sent to your phone in the PayPal account verification, congratulations as you have perfectly completed everything!

What next? Start transacting with your account!

This is how you can open a PayPal account in Nigeria and get verified. Kindly share this article with your friends on social media and don’t forget to ask any question you have below.

Related Topics:

Stephen is a Frontend engineer, technical writer, owner and part-time blogger here at Gbolamedia, incoming data scientist, an enthusiastic cynophilist, and a curious introvert. Stephen is currently available for full-time, part-time or contract-base role. Contact him here: on WhatsApp or check him on Linkedin

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          Banking

          Chipper Cash vs PayDay — Which one should you choose?

          Published

          5 months ago

          on

          May 15, 2023

          By

          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.

          #1. Usability

          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. 

          Winner: PayDay.

          #2. Fees

          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).

          PayDay Swapping Fee

          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:

          For PayDay:

          • 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.

          Winner: Draw

          #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!

          PayDay Customer Support

          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).

          PayDay Deducts Money

          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.

           

          PayDay CEO tweet to celebrate milestone

          As seen in the screenshot above, he asked for my PayDay tag and immediately, the magic happened. I got my $15 refunded!

          PayDay refunds customer

          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.

          PayDay has:

          • 100k+ Downloads
          • 3k+ reviews
          • 2.1 out of 5 average ratings.
          • Most rated 1 stars 

          PayDay Play Store Review

          Chipper Cash has:

          • 5M+ Downloads
          • 109k reviews
          • 4.1 out of 5 average ratings
          • Most rated 5 stars.

          Chipper Cash App Review

          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

          #6. Downtime

          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.

          Chipper Cash downtime screenshot

          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.

          Winner: PayDay

          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.

          Continue Reading

          Banking

          5 Best Dollar and Virtual Card Providers in Nigeria

          Published

          5 months ago

          on

          May 8, 2023

          By

          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/

          #2. PayDay

          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/

          #3. Cardtonic

          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.

          Continue Reading

          Banking

          Kuda Overdrafts: Eligibility and How to Qualify to Borrow Money from Kuda Bank

          Published

          2 years ago

          on

          November 17, 2021

          By

          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.

          How Kuda Overdrafts Work - Image Credit: Kuda bank

          How Kuda Overdrafts Work – Image Credit: Kuda bank

          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!

          CHECK: Top Apps to Manage Your Finance in Nigeria

          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:

          1. Become a User of Kuda Bank (Register and Verify your account)
          2. Use Kuda Bank regularly (to transfer, receive, pay bills, buy airtime)
          3. 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.

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