BVN is an abbreviated version of Bank Verification Number. Do you know that there is a code for checking your BVN online on your mobile phone easily? Read on to find out.
It’s no more news that the federal government through the ministry of finance has ordered banks to block any bank account that is not affiliated to a BVN.
BVN was introduced to Nigeria’s banking system on 14th of September 2014 but it wasn’t popular across the country until late 2015 and early part of 2016 when the federal government made it compulsory for all and sundry who deals with banking and finance in the country.
You must note that BVN is a 11-digit number which will be attached to your bank account details and will be sent to all banks in the country.
One of the good aspects of this system is that all the banks in Nigeria accepted this monetary policy, which means that your Bank Verification Number together with your bank account details are visible to all banks in Nigeria irrespective of the type you deals with.
The main reason behind the introduction of BVN by the government is to stop the increased rate of financial theft and fraud; corruption among politicians and wealthy citizens who are involved in illegal business.
It’s also believed that new innovation will ensure Transparency in the banking sector. It will also helps in immediate and efficient provision of individuals’ bank data should there be any emergency or corruption case.
Another characteristics of BVN is that it can easily be acquired in terms of Money because it comes free of charge.
All you need do is to visit the bank of your choice, bu it is advisable you register at the bank you deal with i.e the bank you have an account with.
Then you must follow these procedures which include:
- Order for BVN enrollment form
- Make sure you enter correctly all the information asked in the form before submitting the form back to enrollment post within the bank.
- Wait till you present your biometric data which include fingerprints and facial appearance to the officer in charge.
- Ensure that enrollment receipt is given to you before you step out of the bank. Enrollment receipt contains all the data you submitted in the enrollment form; date of registration and the bank’s name which you registered with.
- You will get a short message from the bank representative. This message contains your BVN details after 24hours.
How to Check BVN Online Via Mobile Phone
In case you misplaced your BVN and you don’t know how to retrieve it, you don’t need to panic because there’s an easy way to do that.
You can easily retrieve or check your BVN online, using your mobile phone.
Any kind of phone can check BVN online, irrespective of version or brand. You don’t need internet connection, as long as the phone can send and receive messages, you are good to go.
All you need do on your mobile phone, dial *565*0# It works on MTN, GLO, AIRTEL, ETISALAT (9mobile).
*565*0# is the universal code for checking / retrieving your BVN as the case may be, irrespective of the mobile network you are using.
This means that all mobile network subscribers either you an Airtel subscriber, Glo subscriber, 9mobile subscriber, or MTN subscriber, you only need to dial *565*0# to check your BVN online.
For all GTB Customers you can easily dial *737*61# to check your own BVN online.
Here are some things you need to know about BVN and your account
- Without BVN you can’t withdraw any amount of money from POS or ATM
- BVN registration can only be done in a day.
- A bank account can only have one BVN
- CBN endorsed the BVN policy
- BVN is not for children below 18 years of age.
Ensure you update your data at the where you register once there are changes in the data you give during enrollment or registration.