Kuda operates as a financial technology company, offering mobile banking services in Nigeria. Just like PalmPay and Moniepoint, the bank doesn't utilize a traditional sort code. However, Kuda does have a 090267 NIBSS code which can also be refers to as Kuda Sort Code.
A sort code is a unique identifier for a specific bank branch within a country, essential for various domestic banking activities. It facilitates the smooth processing of electronic funds transfers, direct debits, and other financial transactions. In Nigeria, the Nigeria Inter-Bank Settlement System (NIBSS) is responsible for managing these codes, ensuring uniformity and accuracy across the banking sector.
Kuda does not have a traditional banking license (that's commercial banking license), which is a requirement for having a sort code in Nigeria. Nonetheless, Kuda facilitates transfers through electronic networks built for FinTech companies. These networks operate differently than the interbank system used by commercial banks, and therefore don't require sort codes.
In a nutshell, Kuda Bank NIBSS code is 090267. Yes, Kuda Bank does have a code that functions similarly to a sort code, but it's called a NIBSS code. The NIBSS code for Kuda Bank is 090267. This code can be used for transfers to your Kuda Bank account from other banks in Nigeria.