Kuda Bank is a mobile-only bank available in Nigeria. It can also be called a Neobank and Bank of the Free simply because it offer her services at cheaper rate, zero fees and without the need to visit a particular banking location.
In this article, I will talk more about Kuda Spend and Save Feature. This platform designed that special feature for it users to save money with easy transactions.
How does Kuda Spend and Save works
This works in the sense that you will be getting some certain percentage on every transactions performed on in your account. This include money transfer, cards transactions and bills payment.
The percentage that will be deducted on every transactions will be set by you. You can make it low, and you can also make it high depending on your wish and budget. However,you spend and save money are stored in your savings wallet and you will be able to withdraw it at anytime.
How to Activate Your Kuda Bank Spend and Save Feature
Activating the spend and save on your Kuda Bank Account means you want to start savings small amount from the transaction carried out on your Kuda Account. To do so, follow the below step by step instructions.
- First of all, if you're new to Kuda, download the app and open an account.
- Login to your Kuda Account Dashboard and Click "save" icon on the homepage.
- On the next page, click "save now" that is located at the top right corner of the screen.
- From the options available, click "spend and save" then turn on the toggle at the right corner of your screen.
- Next, click the pencil icon under the percentage to save to set the percentage to be deducted when you spend on your Kuda account.
- And click "checkmark" to complete the process.
After you've completed this process, you can then begins to see your total savings on the save section of your dashboard along with all income transactions histories.
How to withdraw your money from savings wallet
As I said earlier that you can withdraw your spend and save savings at anytime. Here's how you can do so.
- Login to your Kuda Account Dashboard
- Click "save" >>> "saved" >>> "withdraw"
- Enter amount
- Then TAP withdraw at the top right corner of your screen.
- Finally, your savings will be automatically transferred to your Kuda main account.
Kuda bank Spend and Save Feature is a great service by Kuda to save more. You can withdraw your funds at anytime and set your percentage to low or high. Let us know your opinion, would you try this savings method or there's other methods better than this?