Why are Kuda Business account requests declined, and how can issues be resolved?
Kuda Business account requests, including account creation and upgrades, may be declined due to incomplete, unclear, or missing documentation. To help you understand the potential reasons and guide you towards resolving these issues, here’s a complete breakdown: Incomplete upgrades may also lead to issues such as restricted functionality or bounced transactions, impacting your account's usability.
Common Reasons for Rejection
Incomplete Documentation: - Missing pages of important legal documents like the Memorandum of Association. - Partial Corporate Affairs Commission (CAC) status reports.
Unclear or Low-Quality Submissions: - Uploaded documents that are blurry or illegible can cause delays or rejection.
Missing Proof of Address: - Failing to upload acceptable proof of address such as utility bills or rent agreements.
Restricted Functionality: - An incomplete account upgrade could cause limited access to account features, transaction restrictions, or lower limits.
Payments Bouncing Back: - Rejected or under-review documents during the upgrade process could lead to funds being bounced back. Users should check for application status updates on their dashboard for more clarity.
How to Resolve These Issues
If your request has been declined, follow these steps to address and correct the issue:
Clarify the Specific Reason: - Review the rejection notice sent via the app or email to identify the missing or problematic document.
Ensure Accurate Documentation: - Upload a complete CAC status report, ensuring all sections are included. - Provide the full Memorandum of Association, including all pages.
Improve Document Quality: - Avoid low-resolution or unclear scans. Ensure all document uploads are legible and properly formatted.
Submit Valid Proof of Address: - Acceptable documents include: - Power, water, or waste bills (not older than 6 months) - Rent receipt or agreement for the current year - Proof of tax remittance - Bank account statement - Ensure the address on the proof of address matches the one submitted during registration.5. Check Your Application Status: - Use the notifications or dashboard in the Kuda Business app to verify whether your application is still under review or requires additional inputs.
Resolve Errors During Upgrade: - If technical issues arise during the process, capture screenshots or screen recordings and share them to assist in troubleshooting.
Checklist for Document Submission
Full CAC Status Report
Complete Memorandum of Association (All Pages)
Clear and Legible Scans of All Documents
Valid Proof of Address (e.g., utility bill, rent agreement)
Tips for Successful Submission
Double-check all uploads on the app for completeness and clarity.
Cross-reference all addresses to ensure consistency.
Use a scanner or a high-quality camera to prepare digital files.
Keep your documents updated to meet current validity standards.
Following these guidelines will improve your chances of a successful business account request on Kuda Business. If issues persist, you can reach out to customer support for further assistance.
Additional Support
If all necessary steps have been followed and your account is still not fully upgraded, consider contacting Kuda support. Use the in-app chat or send an email to the support team and include any necessary documentation or error screenshots to expedite the resolution process.