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Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks - Business - Nairaland

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Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by GreaterFuture(m): 11:15am On Aug 23, 2021
I keep coming across people online, here on Nairaland, twitter, Group chats and other Social media / online Spaces, Saying that they are a lot more effective than the regular commercial banks.
Some advantages of these institutions I have seen Several times are;
** Little to No charges
** Free transfers & bill payments (I've experienced this personally on Fairmoney)
** Excellent and Quick responding Customer Care
** It's easier to get stuff done, you know cos it's primarily online and all

What's your experience with these relatively New Fintech Banks? They are obviously out to capture the masses and Capitalise on the Common failings of the offline Physical institutions.
I also hear you can get physical ATM Cards from some of them, And they offer Current account, domiciliary foreign accounts etc.
Pls let's discuss, also those who have experience can outline their Disadvantages if any

1 Like

Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by GenAbacha(m): 11:19am On Aug 23, 2021
They’re MFBs with a tech infrastructure.

2 Likes

Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by obi4eze(m): 11:42am On Aug 23, 2021
Kuda bank is doing well.

3 Likes

Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by Blaqstick: 12:18pm On Aug 23, 2021
Vbank is the best imo. Free transfer and at the end of the month dey do give interest on money saved.
Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by Elmaaq: 12:23pm On Aug 23, 2021
GreaterFuture:
I keep coming across people online, here, in twitter, NL, Group chats and other Social media / online Spaces that they are a lot more effective than the regular commercial banks.
Some advantages of these institutions I keep hearing over and over again are but not limited to these;
** Little to No charges
** Free transfers (I've experienced this on Fairmoney)
** Excellent and Quickly responding Customer Care
** It's easier to get stuff done etc.

What's your experience with these new Banks? They are obviously out to capture the masses and Capitalise on the Common failings of the offline Physical institutions.
I also hear you can get physical ATM Cards from some of them
And they offer Current account, domiciliary foreign accounts etc.

Which offers foreign currency account?
Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by Elmaaq: 12:25pm On Aug 23, 2021
Blaqstick:
Vbank is the best imo. Free transfer and at the end of the month dey do give interest on money saved.
Heard kuda does same
Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by GreaterFuture(m): 1:19pm On Aug 23, 2021
obi4eze:
Kuda bank is doing well.
Does Kuda Give out ATM
Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by GreaterFuture(m): 1:21pm On Aug 23, 2021
Elmaaq:


Which offers foreign currency account?
I have stumbled on a twitter Post then, where the lady, an online business person, freelancer mini-importer or something like that praised the Dollar card services that one Fintech financial institution gave her.
Me myself don't know much about it, hence why I ask
Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by Blaqstick: 1:26pm On Aug 23, 2021
Elmaaq:

Heard kuda does same
They are doing good
Saving us from this foolish bank charges

3 Likes

Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by nelcliff(m): 2:11pm On Aug 23, 2021
GreaterFuture:

Does Kuda Give out ATM


Absolutely yes. They send it to you free of charge anywhere in Nigeria

From my dashboard, I have been giving an option to request for it.

1 Like

Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by engrksa(m): 4:52pm On Aug 23, 2021
My concern that that they have very poor KYC. They are used to penetrate fraud since everything is online.

People identity are stolen and can be used to open an account with them. I think Kuda has improved this aspect as they will send OTP to the mobile number attached to the BVN registration and this is how KUDA stepped up but OPay is VERY worst
Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by GenAbacha(m): 5:51pm On Aug 23, 2021
engrksa:
My concern that that they have very poor KYC. They are used to penetrate fraud since everything is online.

People identity are stolen and can be used to open an account with them. I think Kuda has improved this aspect as they will send OTP to the mobile number attached to the BVN registration and this is how KUDA stepped up but OPay is VERY worst

*Perpetrate not penetrate.

You must be talking of another country’s services cos these guys have top notch KYC.

There’s usually a live selfie involved when opening these accounts and from my experience in cyber security, you can’t cheat through a live sefie verification and that’s if you manage to get your hands on every other important document that’s required.

1 Like

Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by GreaterFuture(m): 7:08pm On Aug 23, 2021
nelcliff:



Absolutely yes. They send it to you free of charge anywhere in Nigeria

From my dashboard, I have been giving an option to request for it.
But Vbank charges 1k for their own, just like regular commercial banks
Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by Elmaaq: 8:00pm On Aug 23, 2021
GreaterFuture:

I have stumbled on a twitter Post then, where the lady, an online business person, freelancer mini-importer or something like that praised the Dollar card services that one Fintech financial institution gave her.
Me myself don't know much about it, hence why I ask

Na to ask the lady for Twitter
Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by GreaterFuture(m): 8:27pm On Aug 23, 2021
Elmaaq:


Na to ask the lady for Twitter
You will have to Search and trace the Tweet
Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by Elmaaq: 9:05pm On Aug 23, 2021
GreaterFuture:

You will have to Search and trace the Tweet

No p, what exact phrase from the tweet can you recall
Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by GreaterFuture(m): 7:03am On Aug 24, 2021
GenAbacha:
They’re MFBs with a tech infrastructure.
Okay....
So How's your experience been with them
Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by GreaterFuture(m): 12:50pm On Aug 24, 2021
Elmaaq:


No p, what exact phrase from the tweet can you recall
Ok, I found out that the Fintech Bank is WalletsAfrica

1 Like

Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by Elmaaq: 4:31pm On Aug 24, 2021
GreaterFuture:

Ok, I found out that the Fintech Bank is WalletsAfrica

Fantastic, Heard their dollar rate is on the high
Though
Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by Premiumwriter2: 12:37pm On Aug 25, 2021
All dollar cards are on the high side. It's not their fault. Naira is too sh*tty nowadays. @Elmaaq

Back to the thread,

Kudabank has been very wonderful so far. Can't believe first bank will charge us for internet transactions. It's so low for them.

Sha I hardly use any of those mainstream banks nowadays. All my money is with kudabank. If I need to withdraw, I do transfer to my first bank.

Just wish kudabank will resume their card again

1 Like

Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by GreaterFuture(m): 3:36pm On Aug 26, 2021
Premiumwriter2:
All dollar cards are on the high side. It's not their fault. Naira is too sh*tty nowadays. @Elmaaq

Back to the thread,

Kudabank has been very wonderful so far. Can't believe first bank will charge us for internet transactions. It's so low for them.

Sha I hardly use any of those mainstream banks nowadays. All my money is with kudabank. If I need to withdraw, I do transfer to my first bank.

Just wish kudabank will resume their card again
Ok, they've cancelled out cards for now Abi?
No more issuing Physical ATM Cards
Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by Premiumwriter2: 8:14pm On Aug 27, 2021
The've not been issuing cards for long... something about problem with their card partner
GreaterFuture:

Ok, they've cancelled out cards for now Abi?
No more issuing Physical ATM Cards
Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by GreaterFuture(m): 11:33pm On Aug 27, 2021
Premiumwriter2:
The've not been issuing cards for long... something about problem with their card partner
Okayyy...
Which one make I Kon register with now, wey go give me Card
Re: Kuda Bank, V Bank, Branch and co. Lets Talk About These New Digital Banks by GenAbacha(m): 9:45am On Aug 28, 2021
GreaterFuture:

Okayyy...
Which one make I Kon register with now, wey go give me Card

Alat

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