Akudo is India’s first learning-focused neobank for teenagers and the term “Akudo” means ‘Peaceful Wealth’. The Akudo app caters to the young population of the country and goes ahead with the mission of empowering teenagers (or young adults) with financial independence. With this neo banking app, teenagers will also get a customized Prepaid Card to spend anywhere under the guidance of their parents. The Akudo app makes it possible for parents to supervise their child’s expenses to evade or avoid overspending.
Also, this app motivates its teen users to inculcate the habit of savings and gives amazing rewards and offers under a gamified ecosystem. In brief, Akudo is a digital bank for teenagers in India in which they can manage their expenses and also they’ll get their customized Prepaid Card which they can use for multiple transactions. In this article, we’ll be going to discuss how you can apply for the Akudo Prepaid card.
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About Akudo App:
This start-up company was founded in August 2020 by IIT Roorkee and BITS Pilani alumni – Lavika Agarwal, Sajal Khanna, and Jagveer Gandhi. It offers customizable Prepaid Cards which are specifically designed for their young teen users. The main objective of this Prepaid Card is to educate young adults about savings their expenses. With this card, they can easily save their money and also get amazing rewards on various transactions under a gamified setup.
The startup company provides one-stop technology solutions to the three dimensions of learning about fund management, that is, awareness of fund management, its practice, and habit building. It has associated with Visa and RBL Bank to facilitate simple banking for teenagers.
Anyone in the age group of 11 to 18 years can join Akudo app. The Akudo app is associated with RBL Bank and VISA to deliver you an end-to-end encrypted and 100% safe and secure experience to its users. The Akudo Prepaid Card is free of cost which means that you don’t have to pay any hidden charges or extra fees for this prepaid card.
How to Apply for Akudo Prepaid Card?
You can apply for the Akudo Prepaid Card for yourself (as a teenager) or your child (as a parent). The weird thing is, you can only access Akudo as a parent if you are above 35 years, that is, if your child is old enough to access the card. So, if you are someone who has passed their teens and yet to become a parent, you cannot access this app, sorry!
For Parents:
- Download the Akudo app from Google Play Store or Apple App Store and install the application on your Smartphone.
- Now, an interface will open on your screen with two options – Parent and Teenager. Now, select the Parent option on the app and then click on the Continue option.
Now, enter your parent’s mobile number and click on the Confirm option. A One-Time Password (OTP) will be sent to your parent’s mobile number for verification purposes.- Enter the OTP on the Akudo app and then it will redirect you to the new page.
Now, you’ve to enter your 4-digit Login Pin for the Akudo account and then again click on the Continue option.- Now, the parent has to enter his/her full name along with their gender and then click on the Akudo Me option.
If you’ve any referral code, you can also enter that referral code and click on the Confirm option otherwise click on the Skip this and Proceed option.- After the registration process is completed, the main interface of the Akudo app will open on your Smartphone.
- Now, you’ve to create your child’s account on the Akudo app. Click on the Get your child started option on the Akudo app.
- Now, a new interface will open on your Smartphone’s screen, and click on the Select Child option to add your child account on the Akudo app. Now, simply add the mobile number of your child on the Select Child option and click on the Proceed option.
- Now, you’ve to complete your KYC verification process on the Akudo app. Click on the Proceed to KYC option on the app.
- Now the parent has to enter his details on the app like First and Last Name, Mobile Number, Date of Birth, etc. After that, click on the Proceed option.
- Now, the parent has to enter his PAN Card Number for Mini-KYC Verification and again click on the Proceed option on the app.
- Now, a declaration form will open on your screen. Read the form, fill in the details and then click on the Confirm option.
- Again, an OTP will be sent to the parent’s mobile number for final verification. And your KYC process will be completed.
For Teenagers:
- Download the Akudo app from Google Play Store or Apple App Store and install the application on your Smartphone.
- Now, an interface will open on your screen with two options – Parent and Teenager. Now, select the Teenager option on the app and then click on the Continue option.
- Now, you’ve to enter your number (which is linked with your parent’s account on the Akudo app) and click on the Continue option. The number will be automatically verified with an OTP.
- Now, the user has to create a 4-digit Login Pin on the Akudo app and click on the Continue option.
- Now, you’ve to enter your Full Name and Gender on the app and click on the Akudo Me option. The main dashboard of your account will open with multiple features.
- Now, click on the Visa Virtual Card banner on the app to unlock the Visa Prepaid Card.
- When your virtual card is unlocked, it will ask you to enter your name which will be displayed on the physical card. Enter your name on the box and click on the Continue option. And your virtual Visa Prepaid Card will be activated.
If you want to order the physical form of your virtual card, then you’ve to pay ₹149 for the card and it will be delivered to your address through the postal service.
Final Words:
Through this step, you can easily get your Akudo card through which you can get a free Visa card and 7% cashback on the offline transaction as well. We’ve tried our best to explain all the steps precisely in simple words so that you can easily understand the procedure to apply.
Thank you for reading. If you have further queries you can drop a comment below. I will be happy to help. Keep visiting HiTricks. Don’t forget to join our FinTalks Facebook Group for financial discussions and our Telegram Channel for getting the latest tech updates.
Anuj is a passionate blogger from Bareilly, Uttar Pradesh. Currently pursuing B.sc in Programming and Data Science from IIT Madras. Apart from being an avid learner and a tech enthusiast, he loves playing PC Games and likes to keep himself updated with the latest trends in the tech industry.
