Bank Verification Number, BVN, is a CBN initiative to check fraud in the banking system by giving every customer in the Nigerian banking system a unique identification number that can be verified across all banks in Nigeria. below are 7 things You Need To Know About the bank verification Number which in past week has caused a huge congestion in our banks Nationwide.
Things You Need To Know About BVN According To A Post On Nairaland.
1.Your BVN gives you a unique identity that can be verified across ALL Nigerian Banks (it is not peculiar to one Bank)
2.Your Bank Accounts are protected from unauthorized access
3.It reduces fraudulent activities on bank accounts
4.Gives easy access to Banking operations
5.Your BVN is accepted as a means of identification across ALL Nigerian Banks
6.Registration in one bank covers all accounts the individual might have in all other banks
7.The deadline for registration is Tuesday, 30th June, 2015.
8. A small temporary registration acknowledgement slip will be issued to you, followed by an email or SMS conveying a similar information.
9.A BVN identification card with a computer chip bearing your embedded personal information will be issued to you for collection at your designated bank branch.
10.BVN registration is for individual account holders for the meantime till further notice.
11.Registration in one bank covers all accounts the individual might have in all other banks.
12. Its free.
According To Ngbuzz.
Is It One ForOne Person?
Listen to this carefully. You are not meant to have more than one BVN. If you do, you’re going to end up on EFCC watchlist. Seriously though, one person – one BVN. Remember the matric number analogy? Yes, it applies here. When you take a course in another department, or you switch faculties, your matric number will not change. The same way, your BVN does not change from bank to bank.
What About Other Of Accounts?.
That’s easy. Let’s say you have three accounts in three different banks. Let’s call them, bank A, bank B, and bank C. Here’s what you do: walk into Bank A with any acceptable form of ID – driver’s license, national ID card, Voter’s card, National passport. Register for the BVN. Wait for 24 hours and get the number sent to you via SMS. Take that number to Bank B. Tell whoever attends to you, I got a BVN and I wanna link my account. Remember to say it with attitude. And a smile. Repeat for Bank C, ad infinitum.
What if I change my address? Or my name?
Go to the same bank where you got your BVN and tell them you need to update your biodata. Your BVN number remains the same.
Biometrics. Sounds like a medical term
Don’t worry. They won’t be placing needles in you or anything like that. The biometrics refer to your unique human features which would make it more difficult for anyone to impersonate you or access your account without proper authorization. It’s an extra layer of security. If you’re thinking retinal and DNA scanners, you’re probably thinking 25 years ahead.
Right now, the only biometrics they need from you are your 10 digit finger prints, your picture (a headshot) and your biodata. Boring, I know. Welcome to twenty first century Nigeria.
Wait, those biometrics aren’t things that can be done over the phone:
Exactly. There’s no registering for a BVN by proxy. You have to be in the bank to do it. In fact, folks who are outside the country had to return to register. Otherwise, no BVN. But the authorities are starting to make concessions on that.
Bank Verification Number, BVN, is part of the Central Bank of Nigeria, CBN’s, cashless policy to capture customers’ data and check fraud in the banking system.
It is an initiative of the CBN to give every customer in the Nigerian banking system a unique identification number that can be verified across all banks in Nigeria.
1.The enrollment process for acquiring your BVN is simple.
2.Visit any branch of the bank you have an account with.
3.Registration by proxy not acceptable.
4.Collect and fill the BVN enrollment form with all personal data about you.
5.Submit the completed form to a designated official at your bank, who would then transfer the information given into a computer data base.
6.The official will take your photograph and finger prints.
You will sign your signature that will be captured electronically into the data system.
7.A small temporary registration acknowledgement slip will be issued to you, followed by an email or SMS conveying a similar information.
8.A BVN identification card with a computer chip bearing your embedded personal information will be issued to you for collection at your designated bank branch.
9.BVN registration exercise is mandatory for all individual customers.
10.Registration must be completed on or before June 30, 2015.
11.After deadline, you may not be able to do any financial transaction in any bank in the Nigerian banking system as you will require your fingerprint for authentication.
12.BVN registration is for individual account holders for the meantime till further notice.
13.Registration in one bank covers all accounts the individual might have in all other banks.
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