Kuda is a Nigerian digital microfinance bank that provides payment and payroll solutions locally in Nigeria, but can Kuda wallets receive international money transfers?
The short answer is yes, Kuda users can receive dollars from abroad directly deposited into their accounts. This is made possible thanks to the partnership between Kuda and international partners Payoneer and TransferWise. Kuda users can receive dollars and other foreign currencies from both Payoneer and TransferWise but the money will have to be converted into Naira at the prevailing CBN rate before they receive the deposit in their wallet.
How to receive Kuda dollars from Payoneer
Payoneer is one of the most popular apps used by freelancers to receive payments from abroad. The company has been in existence since 2006 with millions of satisfied customers.
- Register an account on Payoneer
- Select send money
- Enter the recipient Kuda account number
- Enter KUDANGBA234 as the swift code
- Enter the amount and send.
Kuda bank has been listed on Payoneer since 2020.
How to receive Kuda dollars from TransferWise
Just like Payoneer, Kuda bank also has a partnership agreement with TransferWise,
- Sign in to your TransferWise account
- Search for Kuda Nigeria as the destination bank
- Enter recipients account number
- Enter amount and send.
The recipient will receive the naira equivalent in their wallet within 48hrs.
Kuda bank swift code
The swift code of Kuda bank is KUDANGBA234, it can only be used on Payoneer to transfer dollars into kuda accounts.
Can Kuda receive money from abroad?
Yes, Kuda users can receive dollars from abroad via Payoneer and TransferWise directly deposited into their Kuda bank account. The dollars will be converted into Naira at the prevailing CBN rate when the transaction was made and the dollar equivalent deposited into their digital wallet.
Does Kuda have a dollar account?
No, Kuda does not currently allow users to operate a dollar account. All transactions on Kuda are settled in Naira.