One of the important of opening a business bank account is that you can separate your personal finances from your business transactions. Business bank account also helps build credibility of a company amongst customers.
However, opening a business bank account in Nigeria can be stressful because traditional banks require lots of paperwork and documents. But online banks like Kuda, have made it so easy to create a business account without any hassle.
Digital banks like Moniepoint, PalmPay Business, Prosper, Flutterwave and many others also allows business owners in Nigeria to open a business bank account from the comfort of their home.
In this article, we’ve compiled every guides and details you need to know to open a business bank account on the Kuda Business in 2025.
How to open Kuda Business Bank Account
Follow the steps explained below to successfully create a Kuda business bank account:
1. Create a Kuda business account
Visit "business.kuda.com" to create a Kuda business account. You will need to enter your valid email address and working phone number to register on the platform. If you have Kuda personal banking account, you can use the login details to sign-up for business account.
After activating your business account, you will then need to gather all the required documents to complete your business Know-Your-Customer (KYC) verification.
2. Get the required documents
Of course, the documentation needed to open a business account is different from the one needed to create a personal banking account. For opening Kuda business account, you will need:
- Business registration documents such as certificate of incorporation/registration from corporate affairs commission (CAC) of Nigeria.
- Owner's valid means of identification such as National ID card, National Identification Number (NIN), International Passport or Permanent Voter's Card (PVC).
- Business's Tax Identification Number (Not owner's TIN). You can get TIN for your business on FIRs website.
- Business's proof of address. Documents including utility bills are accepted. If your business is operated remotely, make sure that the document submitted for this requirement carries your business name.
- Business owner's passport photograph.
However, it's important to note that more information or documents may be required depending on the type of business entity you're running (e.g., partnership agreement for partnerships or you just registered a business name).
Kuda Business offers two types of accounts: account for freelancer and account for fully operating business. The Kuda Business's Freelancer account only requires individual information and documents, and the fully operational business account required all the documents listed above.
3. Upload all documents and submit your application
Once you've been able to gather all the documents required, then begin to fill out the business account form on the Kuda business app or via the official website. Once you're done with the filling of your business information, start uploading the demanded documents, and submit your application by clicking on "Review and Submit Application" button.
4. Account review and approval
Typically, it takes 24 business hours to complete the review processes. On a weekend or holiday, it may take up to 72 hours. However, once the account is approved, you will receive your account details via email and in-app notification, and you can start using your account immediately after the activation.
The advantages of opening a Kuda Business bank account
There's more to Kuda Business than just separating your personal finances from your business transactions. It also makes your business looks more legit and gives it credibilities it truly deserve in front of customers, potential partners, clients and other businesses.
Furthermore, Kuda Business gives businesses access to more financing options such as getting business loans and other credit facilities that is not available to an individual/personal account holder.
Tools like expense budgeting, invoicing, and payroll management needed to manage business transactions are also available on the Kuda Business account. You will also have access to POS, payroll, softPOS, expense accounts, and multiple transfers to local banks.
Its customer support team are reliable and always available 24/7 to settle issues faster, especially if you're looking to operate your business more efficiently. In conclusion, Kuda Business bank account is a better option when you're considering online business account in Nigeria.
