Kuda denies customer access to account
Kuda Bank, Nigeria’s first mobile-only bank, is currently mired in a financial mess for allegedly withholding the sum of N42, 000 owned by a customer known as Wasiu Oseni. The mobile-only bank was accused of denying Mr. Oseni access to his account on the basis of insufficient funds.
According to the customer, the said money was sent to him by his brother as a repayment of a loan lent to him, which his brother paid back into his account since December, last year.
He stated that Kuda Bank placed a restriction on his account, claiming that he had insufficient funds.
“I kept receiving messages saying I had insufficient funds in my account before the incident. Kuda had once sent a statement of account to me, saying someone had used my ATM card to make withdrawals from my account. I found the message absurd because when the message was sent, I didn’t even have enough money in my account. So, there was no way anyone could have withdrawn from an insufficiently funded account. The only significant event I could say happened during that period was the fact that I had lost that card a long time ago,” he said.
The concerned customer said he contacted Kuda Bank Customer Service on the matter, and was told that a background check would be conducted, as he was directed to submit necessary details for proper investigation to be carried out.
However, he was shocked to receive a message that read: “Zenith, our card settlement partner recently sent a message to all banks to help them recover the money from undebited payments made with your Kuda MasterCard. Unfortunately, the message was sent without our consent. To correct this error, we placed a lien on your account to cover the amount that was debited. We will reach out to you by email in the next 48 hours to give you details of the exact transaction so that you can confirm them and give us the approval to debit your account.”
Although Wasiu revealed that he had never carried out any transaction with his debit card, he also indicated that he had lost the card since May last year.
“Apart from all this, my account has not even been funded for a long time. So, how is that even possible? Kuda promised it would reach out to Zenith Bank for further investigation,” he said.
Since then, it has become a case of a dog eating the bone that is hanged on its neck as he has neither accessed the money in his account nor received any hopeful information from the Kuda Bank.
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