Kuda is one of Nigeria’s best known digital banks, a fully app based microfinance bank offering free and low cost banking to millions of customers, especially young Nigerians.
This complete guide covers everything you need to know about banking internationally and locally with Kuda, including its SWIFT code position, how to receive money from abroad, its USSD code and mobile banking, how to open an account, its contact details, and a full profile of Kuda itself.
A SWIFT code, also called a BIC (Bank Identifier Code), is an internationally recognised code that identifies a bank during a cross border transfer. It is managed by SWIFT, the Society for Worldwide Interbank Financial Telecommunication, the global network banks use to send secure payment instructions to one another.
Does Kuda Have a SWIFT Code?
Kuda does not have its own SWIFT/BIC code. Kuda operates as a licensed microfinance bank that operates as a fully digital, app based bank, and institutions of this kind in Nigeria generally do not hold their own SWIFT code for receiving international transfers directly, unlike the traditional commercial banks.
Any code you may see associated with Kuda online generally relates to a partner or overseas entity, not a SWIFT code for your Nigerian Kuda account, so it should not be used to receive international transfers directly.
What is a SWIFT/BIC Code?
A SWIFT code, or BIC, is the international address of a bank, used to route money across borders to the correct institution. Traditional commercial banks in Nigeria each have one, but payment and microfinance style providers such as Kuda typically do not, which is why money from abroad usually reaches you through one of the routes described below rather than through a direct SWIFT transfer.
How to Receive Money from Abroad with Kuda
To receive money from abroad into Kuda, use a remittance service that pays out to Nigerian bank accounts and select Kuda (Kuda Microfinance Bank) as the destination, or receive foreign currency into a commercial bank that offers a domiciliary account and then transfer the funds to your Kuda account locally.
For local transfers within Nigeria, anyone can send money to your Kuda account by selecting Kuda Microfinance Bank as the destination and entering your ten digit account number.
Because Nigeria does not use the IBAN system, an international sender only needs the destination account details and, where a bank is involved, its SWIFT code. When routing money to you through a commercial bank first, use that bank’s SWIFT code and your account there, then move the funds to Kuda locally once they arrive.
About Kuda
Overview and History
Kuda launched in 2019 as a fully digital, app based bank, and it quickly became one of the most popular neobanks in Nigeria, known for its free transfers, budgeting tools and simple mobile experience.
Kuda operates under a microfinance banking licence and has grown rapidly, attracting millions of users and significant international investment, positioning itself as a leading challenger to the traditional banks.
Leadership
Kuda is based in Lagos, Nigeria, with its head office at 151 Sinari Daranijo Street, Victoria Island, Lagos. It is led by its Chief Executive Officer and co-founder, Babs Ogundeyi.
Services
Kuda offers current accounts, free and low cost transfers, savings and budgeting features, overdrafts and bill payments, all delivered through its mobile app rather than physical branches.
Digital Banking
Kuda is a strongly digital focused institution. Customers can bank through the Kuda mobile app, along with internet banking where available, which together allow transfers, airtime and data purchases, bill payments and account management, in many cases even without an internet connection.
Size and Reach
Kuda serves millions of customers across Nigeria and, increasingly, Nigerians abroad, operating entirely online without physical branches, which keeps its costs low and its services accessible from anywhere.
Kuda Contact and Customer Care
Head office
151 Sinari Daranijo Street, Victoria Island, Lagos, Nigeria
Customer care
Through the Kuda app or help@kuda.com
Email
help@kuda.com
Website
kuda.com
Fees, Exchange Rates and Cheaper Alternatives
Whenever money is sent internationally, the cost is more than the visible fee. Banks and providers also apply an exchange rate when converting currencies, which can include a margin above the mid market rate, and on larger amounts this margin can cost more than the fee itself.
It is always worth comparing the total cost, not just the advertised fee. Specialist services such as Wise often use the mid market rate with a clear separate fee, while a domiciliary account with a commercial bank lets you receive and hold foreign currency directly. Comparing your options before you send or receive can save you money.
Quick Facts About Kuda
SWIFT/BIC code: none (Kuda is a licensed microfinance bank that operates as a fully digital, app based bank)
Full name: Kuda Microfinance Bank
Head office: 151 Sinari Daranijo Street, Victoria Island, Lagos
Founded: 2019
Chief Executive Officer and co-founder: Babs Ogundeyi
Website: kuda.com
Frequently Asked Questions
Does Kuda have a SWIFT code?
No. Kuda is a licensed microfinance bank that operates as a fully digital, app based bank and does not have its own SWIFT/BIC code for international transfers.
How do I receive money from abroad with Kuda?
You can use an in app or remittance option where available, or receive the funds into a commercial bank with a domiciliary account and then transfer them to your Kuda account locally.
How do I open a Kuda account?
You can open a Kuda account through its mobile app.
Does Nigeria use IBAN?
No. Nigeria does not use the IBAN system.
Summary
In summary, Kuda does not have its own SWIFT code because it is a licensed microfinance bank that operates as a fully digital, app based bank. To receive money from abroad you use a remittance or in app option, or route it through a commercial bank with a domiciliary account. For day to day banking, its mobile app let you transfer, pay and open an account with ease.
SWIFT/BIC codes change when a bank restructures, merges, or opens new international operations, and some Nigerian institutions route international transfers through a correspondent bank rather than a code of their own. Before you send money, confirm the code directly with the bank, through its official app or customer care line, or by looking the institution up in the official SWIFT/BIC directory at swift.com. Sending to an incorrect or outdated SWIFT code can delay a transfer by days or route it to the wrong institution, and recovering misrouted funds is slow and sometimes costly. The details on this page are compiled from the bank’s own published information and the SWIFT registry.
