Kuda Bank’s customer accounts go to zero as it suffers another technical glitch

Kuda Bank is experienced another major technical glitch causing customers’ money to disappear and transactions to be impossible.
The bank has apologized and said it was working to fix the issue as soon as possible.
This is the second downtime in less than 2 months, following a similar incident in February.
Kuda Bank has apologized to its customers after another technical glitch on its system caused customers’ money to disappear.

The bank said it is working to fix the issue as soon as possible as customers become apprehensive.

The company is experiencing the second major downtime in less than 2 months, having suffered the same in February this year.

Customers of neo bank, Kuda have been thrown into panicky mode as people with money in their accounts are seeing zero balances. This came as the digital bank suffers another major glitch, which makes transactions on the app impossible as of the time of filing this report.

Many furious customers of Kuda are bombarding its Twitter handle of the bank with complaints of their accounts being emptied. The bank has, however, acknowledged the glitch, saying it is working to fix it.

Aside from the customers seeing their account balances as zero, Kuda said the glitch has affected transfers, card payments, airtime and data purchases, and bill payments.

Service downtime

In a message sent to its customers on Wednesday, Kuda Bank said it was having a service downtime.

“We currently have a general service downtime affecting transfers, card payments, airtime and data purchases, and bill payments. While we work to fix this downtime quickly, you won’t be able to make transactions on the app or use your Kuda Visa card if you own one.

“We’re sorry for the inconvenience this week’s downtimes must have caused you. We’re doing our best to find a permanent solution soon.”

Second downtime in less than 2 months

Amid the rush to fintechs for speedy transactions in early February as bank apps failed, Kuda had experienced similar downtime on its system, which made its customers apprehensive over the disappearance of their money. The bank resolved the issue days after. At that time, Kuda said it was working with its cloud service provider to resolve the issue.

“We’re sorry that you still haven’t been able to use your Kuda app. We’re working with our cloud services provider to sort out the downtime, and we’ll let you know when it’s been fixed. Your money remains safe and you’ll be able to access it as soon as services are restored.”

“We know that the ₦0.00 balance error reported by several people is worrying but we assure you that it’s just what the app is displaying because of the downtime, not the amount of money you actually have. We’ll keep sharing updates as we make progress,” the company stated in February.”

What you should know

Industry experts have cautioned that Nigerian fintechs will also need to expand their capacity urgently in other not to suffer the same fate as the traditional banks whose infrastructure collapsed as more Nigerians tried to do online transactions as a result of the recent cash scarcity.