Will I be charged for using Vida?

If you're considering using Vida, you may be wondering about the fees involved. Here's a clear breakdown of what to expect!

1. Bank Verification Fee (First Charge)
When you first set up your Vida account, you'll need to verify your bank account. This process incurs a charge that ranges from 600 to 1,000 Naira. The exact fee depends on the duration of your bank statement (usually 6 months). To make the process smooth, ensure that you have at least 1,000 Naira in your income account because this is the account where your statement will be pulled from.

2. Linking Accounts
To use Vida, you’ll need to link two accounts: your income account and an alternative account. Here's what to do:

• Transfer 50 Naira from your income account to a Paystack Titan account generated for you to link your income account.

• Repeat the same process for your alternative account.

3. Service Charge
Once both accounts are successfully linked, Vida will charge a service fee of 4,000 Naira. This fee can be deducted from either of the linked accounts.

4. Access to Your Credit History
After completing these steps, you’ll have access to your credit history. Vida will generate a credit report that you can view, download, and use as proof when you need it.

In summary, Vida charges a 5,100 Naira fee overall. This includes the initial bank verification charges, account linking steps, and the service fee. Once everything is set up, you'll have easy access to your credit history whenever you need it.