Transferring money with your Kuda Business account is quick and easy. Here's what you need to know about sending money to any bank in Nigeria or to other Kuda users:
Start your transfer • Open your Kuda Business app • Tap Send • Enter the recipient's details and amount
Behind the scenes • We send your transfer request to NIBSS (Nigerian Interbank Settlement Scheme) • NIBSS processes the transfer between banks
Transfer confirmation • You'll get a notification once the transfer is complete • The money should appear in the recipient's account immediately
If something goes wrong:
Failed transfers are automatically reversed to your account
This usually happens within minutes
If you sent money and did not receive a reversal within an hour, the transfer was likely successful, and the recipient should check with their bank. If the recipient hasn’t received the funds, the sender should also check for a reversal.
In rare cases:
Delays can also occur due to system-wide issues with the Nigeria Inter-Bank Settlement System (NIBSS), which processes inter-bank transactions. These issues usually resolve themselves as pending transactions are settled or reversed once reports are available.
If we don't get a clear response from NIBSS, we'll try to complete or reverse the transfer for up to 2 hours
After 2 hours, if the transfer isn't resolved, it'll be queued for manual reversal
Remember:
Always double-check recipient details before sending
Keep your app updated for the smoothest experience
We're working hard to make every transfer quick, safe, and hassle-free for your business.