Red Flags

An updated guide to avoiding imitators of Kuda.

Kuda App
3 min readFeb 19, 2021

Scammers are running wild, stripping unsuspecting people of their money.

To help you differentiate imitators with bad intentions from the Kuda you love, we’ve put together some red flags, facts and eye-openers.

Please, pay close attention.

1. Kuda is not on Telegram, WhatsApp, 2go (or Tinder).

If anyone contacts you on any of these apps claiming to be us or from us, block them immediately.

Also, don’t join any online forum or group chat claiming to represent us even if the profile picture used is the Kuda logo (more on logos later).

2. We don’t give loans by email, text messages or through social media.

Any offer of a loan, known as a Kuda Overdraft, from us will be made exclusively on the Kuda mobile and web apps.

In fact, Kuda Overdrafts will be given automatically to anyone who uses their upgraded Kuda account regularly. Learn more about this fact here.

3. We don’t ask for payment (or collateral) to give loans.

If you’re being asked to pay to get a loan, any loan at all, run!

This isn’t normal anywhere on earth.

4. We don’t upgrade accounts through a link.

To request an account upgrade, confirm your BVN and add a valid ID — both on the app.

If you need help with that, please follow this guide.

Please, never tap any ‘account upgrade link.’ There’s no such thing.

Read that again, please.

5. We’re not an investment company.

Anything called “Kuda Investments” today isn’t by us. Please, read that again.

If we ever design an investment product, you’d be one of the first people to know.

6. A logo is not proof of anything.

Anyone can download a logo off the internet and use it. Sadly, we can’t control that but you can choose what to believe. Don’t let anyone rip you off with good graphic design.

7. Our office is not a branch.

We’re branchless (which is the point of being digital), and you’ll never have to walk into a building to use your Kuda account or to get help with it.

We work from our Yaba office (and remotely) but that’s not the same as having a branch.

Our office is currently closed to visits to help limit the spread of COVID-19.

PS. There’s no vault for cash at our office.

8. We don’t send account information through text messages (SMS).

We may use text messages to deliver codes (like an OTP) or to run a public promotional campaign but we don’t currently use them to send you information about your account.

The rule: Credit and debit alerts are sent as push notifications and emails, account statements are sent by email.

9. We’ll never ask you to share your password, sign-in PIN, card PIN, card security code (CVV), transaction PIN or answers to your security questions.

This can’t happen, ever.

If you can’t sign in to your account, you’ll have to reset your password yourself. We won’t ask you to tell us the last password you used.

Anyone who asks for these details is dangerous and must be blocked online and in real life.

Most importantly, ask questions if you’re ever in doubt.

Is there something you’re not sure of? Do you have a funny feeling about an offer you got from a so-called Kuda? Please, ask us before you take any other action.

Chat with us on the app, tweet us or send a message to

Stay safe. 💜