Woke up to an email from Kuda this morning saying they’re now applying 7.5% VAT on all transaction fees - transfer fees, USSD charges, payment charges, all of it. No opt-out. No grace period. Just a polite little email saying “this is happening, deal with it.”
The funniest part? They actually wrote *“It’s not income for us at all”* as if that’s supposed to soften the blow. Bro, I don’t care who gets the money — I care that I’m paying MORE now and nobody asked me anything.
Yes, I understand VAT is a regulatory thing. But the complete lack of any alternative or choice is what stings. They’re a bank that built their whole identity on being different, on being the “free transfer” guys. Now it’s fee on fee on fee.
These days it’s starting to feel like every other bank with a nicer UI.
Is anyone else considering moving to a different neobank, or are the options just not there yet?
