Bank Verification Number (BVN) is an 11-digit number that serves as an universal ID in all banks or financial institutions in Nigeria. One of the need for BVN was to curb all forms of financial fraud and theft. The BVN also allows one to carry out transactions at any point of banking operations.
It was introduced on February 5, 2015 by the Central Bank of Nigeria (CBN) to ensure transparency, security and easy assessment of data. It is peculiar because it gives customers a unique identity that can be verified across the banks in the federation
Benefits Of Having A BVN
- To prevent and expose corrupt or fraudulent transactions
- It secures your bank account
- Only one BVN can be linked to all your bank accounts and you can also use this same BVN to monitor all the activities in your multiple accounts.
- Easy and convenient enrollment process
- It is absolutely free of any charges
- Gives you a unique identity that will help to ensure eady identification and confirmation in all banks within Nigeria
- Lastly, the BVN is perfect for the elderly and semiliterate since their facial recognition and fingerprints will serve as signature for them
How To Check Your BVN Online Using Your Mobile Phone
Regardless of your mobile network and type of mobile device, you can check your BVN on your mobile device with and without a data connection. Just dial *565*0# on all networks and your BVN will be displayed on the screen of your mobile.
How To Register For BVN
- Go to any bank branch where you have an active bank account
- Request for the BVN enrollment form, fill the form correctly and submit
- Your biometric (Facial picture, finger print) will be taken
- You will be given an acknowledgement slip containing a transaction ID and within 24 hours you will be sent your BVN through a text or mail.
Requirements Needed For BVN Registration
- Valid means of identification ( Voter’s card/driver’s license/National ID card/International passport)
- Photocopy of birth certificate
- 2 recent passport sized photographs
How To Correct And Update Your BVN Information
You can choose to correct one or two details on your BVN profile, examples of such details are:
- Change of surname probably due to marriage
- Correct date of birth
- Correction in name due to error in spelling
You May Need Some Of These Documents
- Your birth certificate to correct date of birth
- Marriage certificate or affidavit to correct change of name. You can also use an international passport/driver’s license/National ID card showing the correct name
All you need to do is to visit the nearest branch of your bank with the necessary proof relevant to your issue that is if you want to change your name, go to the nearest branch of your bank with either a court affidavit/marriage certificate or international passport/National ID card showing the correct name then fill the BVN update form and present the necessary proof for verification.