When Your Money Seems Stuck

How transfers work and what you can do when ‘they haven’t seen the money’.

Kuda App
2 min readMay 3, 2023
It’s not a long journey.

You know what’s more annoying than a reversed transfer? One that isn’t reversed but isn’t completed. 😫 When this happens, it could seem like your money is stuck somewhere no one can get to.

But is it really stuck? Let’s explain how transfers work and show you what you can do when you have a delayed transfer.

How Transfers Work

1. When you send money from your Kuda account, we debit your account of the amount, hold the money and send you a debit notification. Then we send a request through NIBSS (the Nigeria Interbank Settlement Scheme), which is responsible for moving money between banks, to credit the beneficiary account.

2. NIBSS passes our credit request to the beneficiary bank, then sends us a response from the bank which we then confirm with NIBSS just to be sure.

3. If the beneficiary bank accepts our credit request, we’ll confirm the transfer and send you a notification that your transfer has gotten to the beneficiary bank. If the beneficiary bank rejects our credit request or doesn’t respond in time, we’ll reverse the transfer into your account automatically.

Sometimes, NIBSS doesn’t immediately give us confirmation about the transfer. When this happens, we wait 24 hours until we get a report of all completed transfers for the previous day from NIBSS. If we confirm that your transfer isn’t in the report, we’ll reverse it into your account.

What Can You Do When Your Money Seems Stuck?

1. You can wait for us to complete or reverse the transfer.

2. You can report the transfer by tapping it on your Kuda dashboard then tapping Report This Transaction, or go straight to our Self-Help Centre to report it.

3. You can chat with us about the transfer on your Kuda app.

You have the power at selfhelp.kuda.com.

The next time you have a delayed transfer, know for sure that your money won’t just disappear between your account and the beneficiary’s account. If it seems stuck, we’ll always do our best to sort things out for you as quickly as possible. 💜