Accepted! Kuda is a Neobank in Nigeria. It’s was licensed by the Central Bank of Nigeria (CBN) as Microfinance Bank (MFB). But can it receive money from abroad? This question brought about Kuda Swift Code or BIC Code. If Kuda can receive payment from abroad, then the finance app has to have a swift code.
In this article, I will walk you through everything you need to know about Kuda Bank Swift Code and how and where to use it. In my previous article, I talked about OPay Swift Code, you can learn more about the wire transfer feature here.
A Swift Code or BIC Code is an unique identifier for international standard Business Banking. In other words, it can be refers to as a unique identifier for business institutions, approved by the International Organization for Standardization (IOS).
The Swift Code work in the sense that it can be used of identifies a bank account’s country and branch where the account is registered to. In essence, a Swift code can be used to receive wire transfer from abroad.
Kuda Bank Swift Code
Kuda is not a commercial bank, hence, it cannot receive International Money Transfer (IMT) Deposit. However, the Kuda once had a SWIFT CODE. There was a time Kuda Bank partnered with Payoneer to allow Nigerian freelancers to receive payment from their clients abroad. At this time, Kuda use to receive Payoneer funds with SWIFT Code.
The Kuda SWIFT Code in question is KUDANGBA234. According to Kudabank, the Swift code is temporary and can only be used to transfer Payoneer funds to your Kuda Bank Account.
Currently, Kuda Bank has discontinue the Payoneer to Kuda services. The feature is no longer working on the Kuda app.
Nevertheless, Kudabank introduced Domiciliary Account in GBP and USD, allowed Nigerians to open a foreign account and save money in foreign currencies. But not quite long, the bank discontinue the service with no genuine reasons.
In a nutshell, Kuda SWIFT Code (otherwise known as Kuda BIC or Kuda Bank IBAN Number) is KUDANGBA234 and it’s no longer working again in Nigeria. Hence, if you’re seeking to receive money from abroad, you can explore other options like Chipper Cash Dollar Account or ALAT DOM Account.
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