Question 1

Is KoboVault a bank?

Accepted Answer

KoboVault is a digital banking app. Customer funds are held by a licensed financial institution, and the details of that arrangement are published in full before accounts open to the public.

Question 2

What do I need to sign up?

Accepted Answer

An email address and a phone number. That opens a Tier 0 account you can send and receive on straight away, up to ₦10,000 a day. Adding your BVN or NIN raises that to ₦50,000, and it takes about five minutes.

Question 3

Why do you need my BVN or NIN?

Accepted Answer

Nigerian regulation requires verified identity before an account can move money at any real scale. Your BVN or NIN is used to verify who you are and to raise your limits — nothing else.

Question 4

How much does it cost?

Accepted Answer

Opening and holding an account is free. Transfers and bill payments carry the fees shown on screen before you confirm — you always see the exact figure before anything moves.

Question 5

What happens if a transfer fails?

Accepted Answer

A failed transfer is reversed to your balance automatically, and the transfer keeps its own status and reference in your activity so you can see exactly what happened and when.

Question 6

Can I use it for my business?

Accepted Answer

Yes. A Tier 2 or Tier 3 account takes business payments to a real account number, and every payment keeps a shareable receipt. Dedicated business banking — multiple users, roles, and approvals — is on the roadmap and not built yet.

Question 7

Is my money safe if I lose my phone?

Accepted Answer

Sign in on a new device requires verification, and every payment needs your transaction PIN regardless. From any other device you can open your Security Centre and revoke the lost phone's session immediately.

Question 8

Does it work without internet?

Accepted Answer

No. Balances and payments need a connection. The app tells you when it's offline rather than letting you start something that can't complete.

Question 9

When are cards and savings coming?

Accepted Answer

Virtual cards, physical cards, savings, investments, lending and business banking are all on the roadmap and none of them have shipped. When they do, they'll show up on this site as things that exist rather than things that are coming.

The things people actually ask

The things people actually ask

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