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How to Open a Full Business Account with Kuda Business

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Written by Ifeoluwa. A

How to Open a Full Business Account with Kuda Business

Prerequisites for Creating a Kuda Business Account

Before starting the registration process, make sure:

  • Your business is registered with the Corporate Affairs Commission (CAC) in Nigeria.

  • You have valid identification, such as a government-issued ID.

  • You have a BVN (Bank Verification Number).

  • You have access to the email address and phone number you want to use.

  • Your documents are clear, complete, and match the business type you select.

If you already have a Freelancer account, you cannot convert it into a Full Business account in the app. To use a registered business name and Full Business features, add a new Full Business account and complete the steps below.

Step 1: Download the Kuda Business App

  • Visit your device's app store (Google Play Store for Android or App Store for iOS).

  • Search for "Kuda Business".

  • Download and install the app.

  • Alternatively, visit the Kuda Business website and click Get an Account to begin the setup process.

Step 2: Sign Up

Open the app and follow the prompts.

You’ll need to:

  • Confirm your email address and phone number with OTPs.

  • Take a selfie.

  • Confirm your BVN and personal information.

  • Create a password.

  • Create a passkey if your device supports it.

Make sure all details are accurate and up to date.

Step 3: Choose Full Business Account

From your dashboard, start Full Business onboarding. If you already use Kuda Business, tap Add Another Account or Create New Account, then select Full Business.

Choose your business type:

  • Business Name (BN), if your CAC number starts with BN.

  • Limited Liability Company (RC), if your CAC number starts with RC.

  • Incorporated Trustees (IT), if your CAC number starts with IT.

Step 4: Add Business Basics

This is where we verify your business setup.

You’ll be asked to:

  • Enter your CAC registration number.

  • Add your NRS Tax Identification Number (NRS-TIN), if requested.

  • Confirm your business name and registration details.

  • Confirm business ownership.

If you are the business owner, proprietor, trustee, shareholder, or director, you may need to provide:

  • Your NIN.

  • Your home address.

  • Proof of address, where required.

  • Your PEP status.

If another person needs to approve or manage the account, you may need to invite them to complete their part.

Once Business Basics are verified:

  • Your Kuda Business account number is generated.

  • Your account is placed on Tier 1 with starter access and starter limits.

  • You can send and receive money within Tier 1 limits.

At this stage, the account has not been fully upgraded yet.

Step 5: Complete Enhanced Due Diligence

Enhanced Due Diligence helps us verify your identity, business structure, documents, address, and the people connected to the business.

Some checks may happen automatically, while others may require review by our team. You must complete all required steps before the business can be submitted for review.

These steps may include:

  • Business address verification.

  • Know Your Business document upload.

  • More About Your Business.

  • Business owner verification.

  • Account manager or owner consent.

Business Address Verification

Address verification is required before your Full Business account can be fully upgraded.

Utility bill upload is no longer accepted as the default way to fully upgrade your business account. Address verification is completed in the Kuda Business mobile app through OkHi.

When you get to address verification:

  • If your business operates from your home address, you’ll complete digital address verification.

  • If your business operates from a separate location, physical address verification may be required. A verification agent may need to visit the address.

Address verification must be completed in the Kuda Business mobile app. If you start on the web, you may be routed to the mobile app.

You can continue other Enhanced Due Diligence steps while address verification is pending, but your account will not move to the highest tier until address verification is successful.

Upload Know Your Business Documents

Upload all required business documents through the Kuda Business app or dashboard.

Documents sent by email or chat cannot replace the in-app upload process.

For Business Names (BN), you may need:

  • Certificate of Registration.

  • CAC BN/1 or CAC Status Report.

For Limited Liability Companies (RC), you may need:

  • Certificate of Incorporation.

  • CAC Forms or CAC Status Report.

  • Memorandum and Articles of Association.

  • Particulars of Directors.

  • Particulars of Shareholders.

  • Board Resolution authorising account opening.

For Incorporated Trustees (IT), you may need:

  • Certificate of Incorporation.

  • Status Report or IT Form.

  • Constitution or Charter.

  • SCUML certificate, where required.

  • Details for the required trustees.

Make sure documents are complete, clear, and match your CAC records. Incomplete or mismatched documents can delay your upgrade.

Business Owner Verification and Account Manager Consent

Before your business can be submitted for document review, the required business owner, director, trustee, or account manager consent must be completed.

This may include:

  • Submitting BVN or NIN details.

  • Confirming address details.

  • Accepting an invitation.

  • Electronically consenting to the person managing the account.

If there is only one business owner, self-consent may apply.

If consent is not completed, the account cannot be submitted for document review yet. This means the account may remain on Tier 1 even if an account number has already been created.

If the consent or account manager approval step is not opening in the app, contact support through the app so we can check the next required step.

What Happens After You Submit?

Your account upgrade follows this general sequence:

  1. Account number generated: Your business account is created on Tier 1 with starter access and starter limits.

  2. Enhanced Due Diligence completed: You complete all required business details, documents, address steps, and owner or account manager consent.

  3. Submitted for review: Once all required onboarding sections are complete, your application can be submitted for review. At this stage, your account moves from Tier 1 to Tier 2.

  4. Review outcome: After review, we may approve the application, ask you to update specific information or documents, decline the application, or keep it in review while we complete additional checks.

  5. Final upgrade: If your business review is approved before address verification is complete, your account may remain on Tier 2 until address verification is successful. After document review passes and address verification is positive, your account can move to Tier 3.

Why Your Upgrade May Be Delayed

Your upgrade may be delayed if:

  • Required documents are missing or incomplete.

  • Uploaded documents are unclear.

  • CAC details do not match the selected business type.

  • The business owner or account manager has not completed consent.

  • Address verification is still pending.

  • Address verification was unsuccessful.

  • We need additional information from you.

If action is needed, we’ll let you know what to update.

Need Help?

If you get stuck, contact support through the Kuda Business app.

Please include:

  • Your Kuda Business account number.

  • The business name.

  • A screenshot of the step where you are stuck.

  • A short explanation of what happens when you try to continue.

Do not send your BVN, NIN, password, PIN, or passkey details in chat.

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