In this post, you will learn all the different ways to get and check your Bank Verification Number either online, with your mobile phone or directly from the bank.
Before the introduction of the Bank Verification Number (BVN), there had been lots of fraud that were carried via the banking sector.
As at then, one can simply work into any bank and open an account with any name, as shown on the means of their identification. These accounts can be used for financial crime, and in most cases, they are not traceable.
The means of identification needed by the banks may be a work identity card, which can easily be forged.
The banks may not even be in the position they verify the authenticity driver’s license and voter’s card, not to talk of National ID card and International Passport.
Then you will find people with bank accounts having conflict names. Some of these accounts can’t be traced to the source.
All the created a back door for illegal activities within the banking system. Criminals took advantage of loopholes to commit crimes.
In other to curb financial crime that existed then, the Central Bank of Nigeria (CBN) came up with the Bank Verification Number called the BVN.
What is a Bank Verification Number?
The BVN is an 11 digits biometric identification system that was introduced by the Nigerian Central Bank together with the Nigerian Interbank Settlement System (NIBSS) with the main motive of curbing illegal banking transactions in the country.
The 11 digits Bank Verification Number acts as a universal identity in all commercial banks in Nigeria.
All bank accounts in Nigeria must be linked to a BVN. Without a BVN, you can’t open an account.
To open a bank account for the first time, you will have to first enroll for a BVN, and this can still be done inside the banking hall.
If you already have an existing account before the introduction of BVN, the account will be placed on hold until you enroll for a BVN and link it to the account.
For those that have multiple Bank accounts that are not linked to BVN, all you have to do is to walk into any bank and enroll for the BVN. The same BVN is what you will have to provide to all other banks you have an account with.
How to Check your BVN
1. Check BVN with USSD code: dial *565*0#
The USSD works on all mobile networks in Nigeria; this includes MTN, Airtel, Glo, and 9mobile. For all mobile networks, it is the same USSD code the is applicable. Once you dial the shortcode, your BVN will pop up on your mobile in a few seconds.
Simply dial *565*0# to get your Bank Verification Number.
Note that the code must be dialed from a mobile number that you use to register your BVN.
2. Get BVN from the bank
If for whatever reason, you don’t want your phone code to check it, you can walk into any of the banks you have an account with and request for you BVN. It will be given to you in no time.
3. Copy BVN
Some people who don’t like stress they will write the BVN somewhere. Once they need it, they simply go and copy it from where they wrote it.
4. Memorize BVN
The Bank Verification Number is only 11 digits, which is not hard to memorize. If you trust your brain, why stress yourself!
Simply memorize it and recall it whenever you need it.
Frequently asked questions about BVN
1. How many times can I enroll for BVN?
You only enroll for BVN once. The same BVN is what you will have to provide to all the banks you have an account with.
2. Information on my BVN is not correct; what should I do?
If you have some incorrect information on your BVN, you update it by working into your bank and request to update your BVN information. You will be given a form to fill in this regard. In most cases, you will have to provide reasons and evidence for the BVN update.
For instance, if you have a name change after marriage, you will be asked to provide your marriage certificate as evidence.
In the case of a misspelled name, you may be asked to provide an affidavit.
3. How long does it take to get your BVN Number?
It takes within 24 hours after enrolment to get your BVN. In a few cases, it may take longer. Especially when you enroll for it on Friday afternoon.
4. How many digits is the BVN?
The Bank Verification Number is of eleven digits, no more no less.
5. Why is my BVN less than / more than 11?
You may have copied it wrongly. The Bank Verification Number from every bank must be 11 digits.