All you need to know about BVN

Having a bank verification number is as important as having an account. This article contains all you need to know about bank verification number. We hope after reading this article, you would enroll for your own bvn.

BVN( bank verification number) is an eleven digital number gotten through biometric identification done in banks which was introduced by the central bank of nigeria which is the apex bank that controls and governs the activities of all commercial banks in Nigeria in order to reduce or rather to eliminate fraudulent or illegal activities on bank accounts.This is done by taking the fingerprint and photograph of the account holder while collecting other vital information.

All you need to know about BVN

Each account holder have their distinctive bvn number . When you open an account, you would also need to enroll for your bvn. Before the introduction of bvn, there were lots of illegal banking activities but now, many fraudsters have been caught.

Technology has made everything easy for us. Even the aged have bank accounts which in turn makes them have bvn, most especially those that have children outside Nigeria, as their children would have to send them money for upkeep so they have to know how to use an account. Once you forget your bvn, you don’t have to go through the stress of going to the bank to check it or canning customer care. All you need to do is to dial the ussd code ‘*565*0#’ on the phone number you registered your account with , though and amount of twenty naira would be deducted from your airtime.

For those that have multiple accounts in different banks, you don’t have to get different bvn for all your accounts. Once you have a bvn from one of your banks, all you need to do is to link the bvn with your other accounts. The most interesting thing is that when you apply for a job and you get employed, you will need to provide your bvn and your account details so that your salary can be paid directly into your account, even when you want to take a loan in any microfinance institution, your bvn will be required.This is to ascertain that the details you have provided are correct. So you can see how important bvn is.

How to Register for your BVN

  • visit your bank i.e where you opened your account
  • ask for bvn enrollment form and fill
  • your photograph would be taken followed by your fingerprint
  • you would be given a ticket as an identification that you have enrolled for bvn and your bvn would be sent to you after some days.

Conclusion

Bank Verification Number ( BVN) is like an identification number that has your full name and other vital information about you. If your account name and your bvn does not tally, it can lead to a very big problem but you can solve it but going to the bank to make corrections.

Your bvn remain a confidential number which should not be given to a third party.

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