Your Kuda Business account is designed to support your business’s financial operations with flexible transfer limits. Here’s how limits work, how you can adjust them, and what you need to unlock higher limits.
If you encounter issues with your transfer limits, there are specific steps you can take to resolve them effectively.
Default Transfer Limits
Freelancer Accounts
Maximum Single transfer limit: ₦5,000,000
Maximum Daily transfer limit: ₦10,000,000
Full Business Accounts
Maximum Single transfer limit: ₦25,000,000
Maximum Daily transfer limit: ₦100,000,000
How to View and Adjust Your Limits
The following steps can also help you resolve common issues with transaction limits.
You can view and manage your transfer limits directly in the Kuda Business app:
Open the Kuda Business app.
Tap the More icon at the bottom right of your screen.
Select Account Limits.
To adjust your limits:
Tap Manage Single Transaction Limit to change your per-transaction limit.
Tap Manage Daily Limit to change your daily transfer limit.
Choose your preferred limit.
Confirm the change with your Face ID, fingerprint, or transaction PIN.
Enter the verification code sent to your phone.
Your new limit will be updated instantly.
Maximum Adjustable Limits
You can increase your limits within the following ranges:
Freelancer Accounts
Single transfer: Up to ₦5,000,000 (requires indemnity)
Daily transfer: Up to ₦10,000,000 (requires indemnity)
Full Business Accounts
Single transfer: Up to ₦25,000,000 (requires indemnity)
Daily transfer: Up to ₦100,000,000 (requires indemnity)
For even higher limits:
Freelancers: Up to ₦10,000,000 daily (maximum allowed)
Full Business Accounts: Up to ₦250,000,000 per transaction and daily
Note: Higher limits require Enhanced Due Diligence (EDD) and compliance approval. Only Full Business Account holders can request limits above ₦5,000,000.
What You Need to Increase Your Limits
If your transaction limits restrict your business operations, follow these additional resolution steps:
To unlock higher limits, ensure your registration is complete and all required business documents are submitted accurately. If your limit does not increase after registration, check that all requirements are met or contact customer support.
Additionally, if eligible, consider upgrading your account to access higher limits.
For requests beyond app-adjustable limits, you may need to provide:
This is particularly important for high-value transactions exceeding existing limits.
Proof of Business Income: Documentation of accounts receiving funds, with invoices or contracts as supporting evidence.
Nature of Business Transfers: Description of the transfers’ purpose, recipient details, and, if applicable, paid invoices.
Regularity of Transfers: Information about how often you make transfers and any expected changes.
Reason for Increase: A written justification for the higher limit, such as business growth.
Additional Supporting Documents: Depending on your request, further evidence of income sources or other relevant documents.
Expense Account Limits
Expense Accounts within Kuda Business have fixed limits:
Freelance
Maximum per-transaction: ₦5,000,000
Cumulative daily limit: ₦10,000,000
Full Business
Maximum per-transaction: ₦25,000,000
Cumulative daily limit: ₦100,000,000
Understanding Account Tiers
Kuda Business accounts have transaction limits based on their verification tier:
Tier 1 & Tier 2: Basic registration, lower limits.
Tier 3: Full Business Account, highest limits (up to ₦100,000,000 daily).
Additional Notes
New Devices: Once you’re logged in on any device, you can transact up to your account’s limit.
Eligibility: Only Full Business Account holders can request transaction limits above ₦5,000,000. Freelancer accounts are capped at their specified maximums.
Business Justification: All requests for higher limits must be supported by valid business reasons and complete documentation.
If you need help or have questions, reach out to our support team via the app.