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Kuda Bank

29.08.2024 Featured Kuda Bank Leaves Sick Student Helpless After Last N22,000 Disappeared From His Account

Published 29th Aug, 2024

By Olayide Soaga

It has been over 48 hours since N22,000 disappeared from the Kuda Bank account of Kazeem Ayoola, a student of the University of Ilorin, without his authorisation. Yet, the bank has failed to assist the undergraduate in retrieving his funds.

Ayoola told FIJ on Wednesday that he had gone to a pharmacy to purchase some medicine for his ill health only to realise that the funds in his account had disappeared.

unauthorised transaction on Ayoola's Kuda Bank account
unauthorised transaction on Ayoola’s Kuda Bank account
unauthorised transaction on Ayoola's Kuda Bank account
unauthorised transaction on Ayoola’s Kuda Bank account

“At about 11 am on Tuesday, I went to a pharmacy close to the university I study to get some medicine and, as I was about to make a transfer so I could pay for the medicine, I noticed someone had made an online payment without my authorisation,” he told FIJ.

“I was shocked and contacted Kuda Bank immediately. I received an automated response instructing me to send an in-app message. I did so, but they failed to respond to my complaints.”

READ ALSO: Ile-Ife Chef Loses Over N1m in Mysterious Kuda Bank Account Theft

Around 4 pm that day, Ayoola received a message from Kuda Bank on X informing him that the transactions were initiated with his Kuda ATM card on the web platform.

“Please note the transactions were initiated with your Kuda card on the web platform and we will reach out to the transaction processor to provide us with the destination/beneficiary details to enhance our recovery efforts on this,” Kuda Bank wrote Ayoola on Tuesday.

Instead of helping the undergraduate recover his missing funds, the bank temporarily restricted his account to “keep it safe”.

Kuda’s message to Ayoola.
Kuda’s message to Ayoola.

Again, the bank emailed Ayoola on Tuesday, informing him it could not reverse the transaction.

READ ALSO: How Kuda Bank’s Delayed Response on X Cost Student His School Fees

Receipts of the unauthorised transactions.
Receipts of the unauthorised transactions.

“We don’t have the authority to reverse a completed transaction, but we will attempt to get your money back by reaching out to the merchant involved and the beneficiary bank. In the meantime, we have deactivated your card to stop any more unauthorised transactions,” Kuda’s email read.

FIJ emailed Kuda Bank on Wednesday, but the bank had not responded at press time.

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Published 29th Aug, 2024

By Olayide Soaga

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