What is BVN: Everything you Need to know

January 9, 2024

What is BVN, and everything you need to know about BVN? BVN is one of the essential requirements that every legitimate bank would require of you to secure your financial information.

Also, it is Bank Verification Number (BVN), which is a biometric identification system implemented by financial institutions to identify individuals within the Nigerian banking system uniquely. What does it entail, or what is it all about? That is what we are going to talk about in this article.

What is BVN?

BVN is the abbreviation for bank verification Number, and it is an 11-digit personalized identity for every individual who uses Nigerian banks. The major use of the BVN is for secured engagement during transactions at any banking operations in Nigeria.

By using BVN, users may be sure that their personal data and financial activities are secure. It was started with the intention of stopping financial fraud as well as identity theft and other illegal activity.

Features of BVN

There are benefits you stand to gain when you have your BVN, and here are a few popular of them;

The security feature:

BVN offers a safe and standardized way to identify clients, which improves the security of financial transactions. Unauthorized users will find it more difficult to access accounts thanks to the additional layer of security provided by the biometric data, which includes fingerprints.

Enrolment Process

Enrollment in BVN is normally completed at the customer’s bank account. The person fills out the required paperwork, submits biometric data, and provides personal information during the enrolling procedure.

Connecting Several Bank Accounts:

Customers can link their BVN to several bank accounts at various banks once they have enrolled in the BVN system. This makes it easier to identify someone, no matter what banking institution they are with.

Special Identification Number:

Every person registered in the BVN system receives an 11-digit number that is specific to them and connected to their biometric information. Facial features and fingerprints are included in the biometric data, which makes for a strong identifying system.

How to Access or Check My BVN

There are different ways to get your BVN, and we are going to provide each means In detailed form.

The Code

You could check your BVN through *565*0# and the short code provided by your bank but note that it only works if you are using the phone number that is linked to your BVN. The short code is the BVN code. You should also have sufficient balance as you could only access your BVN at 20-naira charges.

NIBSS

Another possible means to get your BVN is through the NIBSS website and the NIBSS is the abbreviation for Nigeria Inter-Bank Settlement System that was incorporated in 1933 and it is owned by every licensed bank including the central bank of Nigeria (CBN) and it started operation in June 1994.

You could access the NIBSS options on the NIBSS website through your phone or computer and you would be required to do the following;

Input your name and date of birth in the required space.
Then you would be required to provide the phone number that is linked to your BVN.
Click the submit button and select your preferred payment method and you would be asked to pay the 20-naira verification fee.

The Mobile Banking App

Another medium is the mobile app and the mobile apps are all interactive and user friendly and steps required to get access to your BVN is quite easy as all you have to do is:

Sign in to your account in your mobile banking app if you have not.
If you are logged in then you click on the option “account details”.
Then you would see the identification or BVN settings from the option and you would input any required information.

Note: this process varies with the different banking apps as some bank apps provide the BVN information once you are fully logged in without going through any process or step.

Online Banking

Online banking or internet banking in Nigeria has improved than the way it originally started as many internet banking platforms has become very secured and accurate as they provide you with the page that shows the page for confirmation of all your details and even show you what you are missing for complete verification and this is the process for your BVN verification;

Navigate to your bank official website and sign in to all required details and information.
Search for the “account setting” option or “account details” option and provide all your required information.

Note: Every bank web page would differ would with the process or step.

Where Can I get My BVN?

If you have not gotten your BVN then you would be asking the where question on how to get your BVN, well the possible way to get your BVN is to go any of your bank’s branch close to you and you would be required to fill a BVN enrolment form, after that you would be given an acknowledgement slip with your transaction ID that would be issued to you.

It takes just 24 hours for the system to confirm your application and your BVN would be created and you would be alerted on the arrival but in case you are not alerted you could just return to that branch for pickup.

Conclusion:

Note the process or steps could differ with the bank you use, so it is quite clear that it is impossible to access your loan without your BVN that is why we have provided the means to access your BVN and the different means to check your BVN status.

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