How To Check BVN (Bank Verification Number)
Wondering how to check BVN?
Don’t panic you’re in the right place.
In this article, I’ve compiled a guide that’ll help you check your BVN.
What is BVN?
Before we jump on the subject, I was thinking, breaking the term down for you will be really helpful.
Incase you’re one of those who don’t know the full meaning of BVN, don’t worry I’ll explain better before we proceed.
The Bank Verification Number commonly called BVN is a biometric identification system implemented by the Central Bank of Nigeria.
This system was implemented to curb or reduce illegal banking transactions in Nigeria.
Moreover, it is a modern security measure in line with the Central Bank of Nigeria Act 1958 to reduce fraud in the banking system.
Going further, I’ll also like to answer some frequently asked questions concerning the above subject.
Hey I know you may feel bored a bit, I understand, I believe you’ll need this someday.
Don’t worry, I’ll make it brief and concise.
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How can I open BVN online?
If you’ve been asking if BVN can be open or done online, the answer below should satisfy you.
The first step which is the BVN Enrollment, cannot be done online.
You can’t do the whole procedure online because to complete your enrollment, your bank or the registration center will capture your passport photograph, your biometric data, and your signature.
How do I get a BVN?
To get your BVN you must enroll at any branch of a bank where you have an account or intend to open an account.
Is BVN Compulsory?
Yes it is.
How long does it take to get a BVN?
In most cases it takes up to 24hrs to 48hrs after Enrolment to get a BVN.
Why should I enroll for a BVN?
BVN helps to reduce fraud, increases the efficiency of banking operations, and also enables customer access to future credit facilities.
Can I Enroll in one bank and get the BVN from another bank?
No. You can only pick up your BVN at any branch of the same Bank you enrolled.
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When does my BVN expire and how do I renew?
BVN expires after 10 years.
After 10 years of the issuance of the BVN, you’ll go back to your bank to re-enroll.
If a person steals another customer’s BVN and comes to the bank what happens?
The person’s live fingerprint will not match what is stored on the customer’s record.
After the BVN has been generated, what next?
Your identity can now be verified against your BVN.
Do I have to be physically present to Enroll?
Yes, because your physical features e.g. fingerprints have to be captured.
Can someone steal my money using my BVN?
Nigerian Banker says disclosing your BVN to any person or group does not pose any threat to the funds in your bank account.
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How is my BVN mapped?
Your BVN is mapped to your biological traits, namely:
- Fingerprint
- Signature
- Facial photograph captured at the point of enrollment.
What are the benefits and uses of BVN?
Below are the benefits and users of BVN:
- BVN is accepted as a means of identification across all banks in Nigeria.
- It offers the verification and validation of the customers’ identity seamlessly across multiple electronic platforms.
- With your BVN, Financial institutions can track you, especially in loan repayment.
- BVN limits Cyberfraud.
- The BVN database is searched to display relevant information about an individual
- It helps reduce queues in Banking Halls.
- BVN helps in the Standardized efficiency of Banking operations.
BVN enrollment process
Below is the step-by-step guide on how to enroll for your BVN in Nigeria.
- Walk into any branch of your bank.
- Get the BVN enrollment form.
- Fill in and submit the BVN Enrolment form.
- Present yourself for data capturing (i.e Fingerprint, facial Image, etc.)
- An acknowledgment slip with the transaction ID will be issued to you.
- Within 24hours, the system will confirm your application, your BVN will be generated, and you’ll receive a confirmation SMS for pickup.
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How to Check BVN on MTN, Glo, Airtel and 9mobile.
If you’ve lost or forgot your BVN there’s no need to worry.
To check your BVN on MTN, 9mobile, Airtel and Glo, follow the steps below:
On your sim card used in BVN enrollment, dial *5650# your BVN will display in some minutes.
Cost of checking BVN on MTN, Airtel and others.
The cost of checking BVN on all network is the same.
You will be charged at least N20 to check your BVN.
Conclusion
Trust you now know how to check your BVN.
Please kindly drop your contribution in the comment box below.
