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Frequently Asked Questions
Sponsors
What countries or regions do you support for money transfers?
For the time being, Kura can only be used by sponsors in the United States.
What payment methods are available for sending money?
Sponsorships can be funded through debit and credit cards as well as directly from a checking account.
How long does it typically take for a sponsorship to be processed?
It takes less than 3 minutes for a sponsorship application to be processed. Beneficiaries can use Kura upon confirmation of sponsorship.
What fees are associated with using your platform for remittance payments?
Sponsors pay a small commission for each payment to be processed. Apart from this, there are no hidden fees.
Are there any transaction limits or restrictions?
Transaction limits are determined by the sponsorship plan. The maximum amount that can be transferred at once is $50 per plan.
Do I need a bank account to use your platform for cross-border payments?
Yes, a bank account is needed to sponsor any payments.
What currencies can be sent through your platform?
Since only US residents can currently sponsor payments through Kura, only US Dollars (USD) can be used at this time.
How can I track the status of my payment?
Sponsors receive instant notifications for each transaction or purchase made by a beneficiary.
What customer support options are available if I need assistance?
Contact us by email at info@kuratek.com.
What compliance measures do you have in place to ensure legal and regulatory requirements are met?
We have due diligence and KYC for each sponsor, vendor, and beneficiary as well as AML compliance for each transaction.
Can I set up recurring remittance transfers for regular payments?
We currently offer only on-demand payments.
Are there any promotions or discounts for frequent users or larger transfers?
The first transfer made through Kura is free of charge. We will announce additional promotions going forward to reward frequent Kura use.
VENDORS
How long does it take for funds to reach my account?
Payments are processed once a week, so you can expect to receive the payment within a week of the transaction.
Can I receive payments in different currencies?
Kura will pay vendors in their local currency.
How can I view and reconcile incoming payments?
Kura provides daily, weekly, and monthly transaction reports to vendors.
Do vendors incur any fees or charges?
Vendors currently incur no fees. After the pilot, however, Kura will charge transaction fees and service fees to vendors for providing access to our direct cross-border payment system and for customer acquisition services.
BENEFICIARIES
How do I receive funds/cash sent through the remittance payment platform?
Beneficiaries can neither directly receive cash nor withdraw cash through the Kura platform. They instead receive digital vouchers to pay for goods and services from vendors that accept payments through Kura.
Can I use the received funds for any purpose?
The digital voucher allows for beneficiaries to purchase goods and services from the category specified by their sponsor (healthcare, education, food & groceries, etc.)
How long does it take for funds to be transferred?
You will receive the digital voucher in the form of a QR code and 6-digit alphanumeric code in less than 5 seconds.
Are there any fees or charges deducted from the funds I receive?
No fees are deducted for the beneficiary.
Can I track the status of the payment sent by the sponsor?
Beneficiaries are notified as soon as the sponsorship is activated and can exercise the Kura payment upon confirmation.
Are there any restrictions on the amount or frequency of the payments I can receive?
Yes, your sponsor will select a plan determining the amount and frequency of payments. See sponsorship plans under Care Plans.
Do I need a bank account to receive transfers?
The beneficiary is not required to have a bank account.
