1. What is Reward on Deposits?
Reward on Deposits is a programme that gives eligible businesses a bonus for keeping money in their main Kuda Business accounts. Rewards are determined at Kuda’s discretion and may be paid monthly. Payments are not guaranteed.
2. Is Reward on Deposits interest?
No. Reward on Deposits is a discretionary bonus from Kuda. It is not interest or a guaranteed return on your account balance.
3. Which businesses qualify for Reward on Deposits?
Businesses classified as Mid-size, Small or Micro on Kuda Business are eligible.
Businesses classified as Enterprise or Growing are not eligible. The programme applies only to main Kuda Business accounts.
4. Do expense account balances qualify?
No. Reward on Deposits applies only to your main Kuda Business account. Money held in expense accounts does not qualify.
5. Do I need to activate Reward on Deposits?
No. Eligible businesses are automatically included in Reward on Deposits. There is no registration or activation required, but inclusion does not guarantee a payment.
6. Is there a minimum balance requirement?
No minimum balance is required to be included in Reward on Deposits. However, rewards are discretionary, so inclusion does not guarantee that you will receive a reward.
7. How much can I receive?
The current maximum Reward on Deposits payment is ₦10,000 per eligible main account per month. This is a cap, not a guaranteed amount. Kuda determines your reward, and the amount may vary each month.
8. How is my reward calculated?
Kuda determines Reward on Deposits amounts using its programme criteria, including balances maintained in eligible main accounts. The calculation criteria is not publicly disclosed, and no specific reward amount is guaranteed.
9. When will my reward be paid, and where can I find it?
When a Reward on Deposits payment is made, it is generally credited within the first few days of the following month. You will receive a notification and can view the credit in your transaction history and account statement.
10. Why did I not receive a reward?
Reward on Deposits payments is discretionary and is not guaranteed every month. If your business is eligible and you believe a reward credit is missing, contact Customer Support so your enquiry can be referred to our Business Banking team for review.
11. Why is my reward lower than last month?
Reward on Deposits amounts may vary from month to month because Kuda determines them at its discretion. The programme does not guarantee a fixed monthly amount.
12. Can I withdraw or spend money from my account?
Yes. You can continue using your main Kuda Business account as usual. Reward on Deposits does not restrict access to your money.
13. I received a notification, but I cannot find the reward. What should I do?
Check your transaction history and account statement for the Reward on Deposits credit. If you still cannot find it, contact Customer Support so our Business Banking team can review the issue.
14. What should I do about an unexpected or duplicate reward?
Contact Customer Support if you notice an unexpected or duplicate Reward on Deposits credit. We can refer the payment to our Business Banking team for review.
15. How do I opt out of Reward on Deposits?
Contact Customer Support and ask to be excluded from Reward on Deposits. It is a discretionary bonus, not interest, but you can choose not to receive it. Your request will be forwarded to our Business Banking team, and exclusion will be confirmed once completed.