A swift code simply means Society for Worldwide Interbank Financial Telecommunication. It’s a bank identification code (BIC) that is used to identify a specific bank or financial institution globally.
Gone at the days when Kuda Bank can directly be used receive money from Payoneer, its has transactions SWIFT code for it. The SWIFT code for Kuda Bank when used for transactions with Payoneer is KUDANGBA234.
But now, Kuda partnership is not working and the using of Kuda to receive foreign currency from Payoneer has been discontinued. Hence the SWIFT is no longer functioning. Furthermore, Kuda bank closed down it UK bank account offering to focus more on home based business.
This further limit Kuda from performing foreign transactions that would probably bring about usage of a SWIFT code. According to Kuda, “you can only send or receive money in naira with your Kuda account.” This means there’s no more foreign remittances and the needs for SWIFT is no longer needed.
“so we don't have a Swift Code. However, if you need to send money using a Sort Code, here are the details: Sort Code: 9-50211-15-1. Bank Code: 50211,” the bank further emphasized.
In a nutshell, Kuda Bank doesn’t currently have a SWIFT code as the bank is not offering an international money transfer services. You can only use Kuda bank account to receive money from other banks within Nigeria. More so, the locally made interbank transfer can be done using it sort code and bank code.
Kuda Bank Sort Code is 9 50211 15 1 and the CBN Bank Code is 50211.
