It’s been a such a great time recently for the tech ecosystem in Nigeria. Especially for KudaBank as they have been in the news for reaching new milestones.
I celebrated these milestones when they were announced on social platforms and i was proud to have contributed to these successes as i have used KudaBank as my main bank for a while now. Their mobile app clearly better works better than most Traditional banks and thinking about the queue at the banks whenever i have a complain, it just made sense to use KudaBank more and traditional banks less.
However i don’t think this gives them the right to be scam-like or to start siphoning money from people’s accounts without explanations.
So i was debited at a POS and my payment was declined, before writing this article, and after many attempts to recover my money through the channels KudaBank provided i did some research online and i saw that many people people were having complains and KudaBank couldn't explain how their money disappeared. I posted below, a few screenshots of tweets i found on twitter after only 30 minutes of research i could have found more but i needed to get back to other things.
So back to my own case, wwas debited twice at a pos but got declined both times. Summing up to over 17k Naira. I collected the receipt but waited for the money to be reversed as usual, but nothing happened. After 24 hours I opened a ticket.
They acknowledge my ticket after another 24 hours, and after approx. 48 hours I was told I will be refunded. This is where it gets interesting. They told me I will be refunded “but I will not see the refund in my transaction records, I will only see that my funds increased.”
This got me suspicious so I paid attention throughout that day, and there was no increase for the amount I was expecting to be refunded.
So I complained again, this time all they could say was sorry and that the process was taking sometime. New queries i have created have been met with total silence as if to say i should just forget about the money and move on. It’s been almost two weeks now.
A few question i have on my mind though is why tell me to expect the money at a particular time (in a questionable manner) and not refund me at that time or communicate a new schedule for my refund? Was I expected to be deceived into thinking they have refunded me and i just didn’t notice? or am I expected now to be frustrated and stop asking for my refund?
For a bank that is fully online with no physical structures one could walk into and claiming to be bank of the free, i feel this is just crazy and feels like a broad day robbery. The funny thing is, i may not have listened if anybody told me they had such experience but i guess as they say, you think it will not happen to you until it happens.
So all i can say is be wise, when Nosa from Kuda tells you they will refund your account please check to confirm, Nosa from Kuda might just be lying.
I have reported this event to the cbn through this online form https://www.cbn.gov.ng/Contacts/Complaints/ and now i can only sit and pray i get my money back.