Opay and Kuda Bank Which is better? - Honest Review

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 The Nigerian digital Banking sector is filled with so many Banks, making it difficult to choose between so many of them. Naija reviews are here for you, Today we will be reviewing Opay and Kuda, and showing you which is a Better option so you can choose between Opay and Kuda, which is better.

    This you should consider when choosing a Bank 

There are a few important things you have to put into consideration when trying to choose between Banks, few are:

• Credibility and Legitimacy

Before settling for any Bank, you must verify its Credibility its owner, is it safe to use?, is it licensed under the Central Bank of Nigeria?. All these are questions you should already have answers to before deciding to use a bank.

• FEES

Banking doesn't have to be so expensive, some Banks exploit customers all in the Name of Charges. Charges should be the second requirement you should keep in consideration when choosing between Banks.

• Stability 

You wouldn't want a situation where you go shopping with friends, and when trying to pay you will discover your Bank app is on downtime, or undergoing one of its unscheduled maintenance, always go for banks that won't turn you down at some point.

• Transaction Speed

This is the first thing I myself consider before deciding to use any Nigerian Bank, you must have been in scenarios where you buy an item, make payment to the seller then you will have to sit and wait Hours for the seller to receive the Payment. This can be disgracing and times force you to pay twice for a single item.

    Or a situation where you're the seller and your Bank takes several minutes to deposit funds transferred to it, which is very Bad.

•  Customer service

This is another very important consideration, i recently had a failed transaction that was Debited wrongly, so i logged in to my Eyowo Bank app to complain and i laid a complaint for over 1 week i wasn't replied to i had to make several requests on their in-app chat and all their social media account to get a reply.

    Always avoid Banks with bad customer service, they will frustrate you.

Let's take an Overview of Opay and Kuda and see which is better 

Paycom or Opera pay as the case may be is one of the top players in the digital banking industry, OPay was founded in 2018 and has since then grown to become very popular, any Lagosian can testify to this. The payment service is also now popular in most major cities in Nigeria. It was founded by the owners of the Opera browser, Opera News, and Opera Mini.

Also, read Best Nigerian digital Bank of 2023

KUDA

Also known as Kuda Technology was founded by Babs Ogundeyi and Musty Mustapha in 2019. It is also another big player in this sector, with a large customer we all have at some point seen their youtube ads 😂.

    Today, we will be doing a %100 Honest review on the both Banks and choosing which will be best for you.

Let the Battle begin:

Functions	Opay	Kuda
Popularity	✅	✅
Customer's trust	✅	❌
Fee	✅	❌
Security	✅	✅
Transaction Speed	✅	❌
Card reliability	✅	✅
Customer Service	❌	✅
Interest on savings	✅	❌
POS	✅	❌
Loans	❌	✅
Overall rating	⭐⭐⭐⭐⭐	⭐⭐⭐

Note!, the tick❌ doesn't mean the app doesn't have the feature, it clearly states the competitor won the aspect.

  This is Honestly a close Battle, see a detailed explanation Below:

• Popularity: Opay and Kuda are Popular Banks with closely Same customer base
• Customers Trust: Lately, Kuda Bank has been very unstable, with customers complaining all around, Network downtimes, etc. Which affected their customer's trust.
• Fees: Opay charges N0  on all transactions it is free to operate, while Kuda charges N10 per transfer when you exhaust your free transfers 
• Security: Both Banks are highly secure and are unpenetrable to hackers unless you help them.
• Transaction speed: Opay deposits incoming transfers instantly, while Kuda deposits in under a few minutes 
• Card Reliability:  Sorry to say both Bank cards are unreliable, they fail severally, so we give them a fair rating.
• Customer service: They Both have a fair customer service rating, not too good and neither so bad.
• Interest on Savings: Opay, as well as I could remember, has the most convenient and pays more interest when you save with them, using their wealth, you can make use of your saved funds and still get interested daily.
• Opay gives out POS to merchants while for now, Kuda doesn't give out POS machines 
• Kuda offers its users Loans, while  Opay recently stopped providing Loans to customers.

There are many more features we didn't mention, but we believe these are the core functions you will need to keep you running smoothly.

        Opay won as a better Bank for the time being, but Kuda isn't a bad Bank as well they are all Good banks.

Advantages of using Opay

• No fees: Using Opay, you won't be charged transfer fees, Account maintenance charges, or notification charges 
• Instant reflection of deposits: As an opay user you don't have to wait hours before seeing money sent to your account, as it reflects in your balance instantly.
• High interest on savings: When you save on your Opay account, you get as much as %18 interest, etc.
• Cashback on bill payment
• Referral Rewards

Advantages of using Kuda

• Access to Loans: Using Kuda Bank consistently will grant you access to Personal Loans 
• Secured App: Kuda is one of  the best when it comes to security, Using Kuda will give you an extra layer of security 
• Customer Support: Kuda also has one of the best Customer services to attend to you at any time and solve your Banking problems

Disadvantages of  Using Opay

• Poor customer service
• unavailability of Loan

Disadvantages of  Using Kuda

• Fees on transactions 
• SMS fees
• No cashback 
• slight delays in deposits 
• No POS 
• Frequent  network downtimes 

CONCLUSIONS 

Everyone has different expectations from Banks, both are overall Good Banks Choose according to your preferences.

 so it's left for you to answer the Question Opay and Kuda Bank Which is better for you?

Use the comment section.

Naija Reviews are not in any way affiliated to either Opay or Kuda, our reviews are %100 from research and customer feedback.