Why is My Kuda Account Inactive?

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Why is My Kuda Account Inactive?

Kuda Bank is a fintech company that is duly licensed by the Central Bank of Nigeria to provide financial services to Nigeria. It is an online-only saving and lending platform that helps you get the best out of your money without overcharging you.

 

With the Kuda bank app, you can carry out financial transactions such as fund transactions, withdrawals, airtime purchases, and bills. Furthermore, the app offers tools for tracking your spending habits, saving more, and making the right money moves.

 

Recently, many Nigerians have been asking questions online about why their Kuda account is inactive. However, there are several reasons why your account is inactive. Do you want to know the reason why your Kuda account is inactive, then you are in the right post. Let’s dive in….

 

Reasons Why Kuda Account is Inactive

Below are the reasons why your Kuda account is inactive.

 

Suspicious Activity

Suspicious activity is flagged when any transactions that don’t match your usual transaction pattern are carried on your account. However, when suspicious transactions are carried out, you may get a text, call, or an email asking what is going on with your account.

 

Most times, unusual transactions trigger alarm bells at Kuda HQ, and your account is temporarily blocked to avoid losing their money because someone might have grabbed your debit card or found out your transaction PIN.

Read my post on why kuda app is not working 

Insufficient Information

Oftentimes, when creating a digital banking account you are required to provide minimum personal details. Over time, you need to provide more information to secure your account or to upgrade your account tier.

 

This is the major reason why most Kuda accounts are inactive. Recently, the Central Bank of Nigeria requested all digital bank users to link their National Identification Number (NIN) to their account before the end of January 2024 else it would be blocked.

 

Dormant Account

When an account is dormant for a long time it tends to be inactive. It is important to always carry out transactions once in a while to avoid your account being blocked.

 

Fraudulent Activity

Fraudulent activity is another reason why Kuda accounts are frozen. When your account is linked to any fraudulent activity such as money laundering, bad cheque, terrorist financing, etc.

 

 

How to Unfreeze Your Frozen Kuda Bank Account

Below are steps on how to unfreeze your freeze your Kuda Bank account.

 

● Call or mail the Kuda customer care representative and request for your account to be unfrozen.
● The customer representative would request your personal information.
● The reason why your account was frozen would be revealed to you.
● You might be asked to provide any form of identification to verify your identity.
● When the issue is sorted out, you will receive an email from Kuda Customer Care.

 

How to Create a Kuda Account

The following are steps on how to create a Kuda account.

 

● Download the Kuda app
● Click on Create an Account and select your local currency
● Enter an email address and preferred password
● Enter the verification code sent to your email address
● Enter your personal details such as First Name, Last Name, and phone number.
● Enter the OTP code sent to your phone number and create a username to complete the registration.

 

FAQs

Why did Kuda restrict my account?

There are several reasons why Kuda restricts users’ accounts. Oftentimes, it is due to fraudulent activity or dormant account issues.

How can I unfreeze my Kuda account?

Simply contact the Kuda customer care representative and follow the instructions to unfreeze your Kuda account.

Is Kuda Bank shutting down?

Any information about Kuda Bank shutting down is not true. The bank is duly licensed by the Central Bank of Nigeria.

 

Conclusion: Why is My Kuda Account Inactive?

Recently, many digital bank users are having issues with their accounts as a result of not complying with the instructions of the Central Bank of Nigeria. The apex bank issued that all digital bank users should provide their National Identification Numbers before the end of January 2024.

The post Why is My Kuda Account Inactive? appeared first on BankingandFinanceNigeria.

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