Before you learn how to check your BVN here, i want you to know that the Bank Verification Number, BVN, was introduced into the banking system in 2014 and since then it has been made mandatory for every Nigerian to have one.
The BVN consist of an 11 digit number that is unique to every individual and serves as the ID of the customer in any bank. The BVN is also required for transactions and used when you go to the bank to lodge complaints.
The purpose of the BVN was majorly to curb financial fraud, by making sure one individual does not open different accounts under multiple personalities and the central bank of Nigeria released this statement to that effect;
“Identity theft and fraudulent transactions have become a menace to the global banking system in recent times. In order to ensure trust relationship in the Nigerian banking system is not undermined, The Central Bank of Nigeria in collaboration with all Nigerian Banks launched Bank Verification Number (BVN) project on February 14, 2014. The BVN uniquely identifies every customer across the Nigeria banking industry using biometric details. It is a requirement for operating a bank account in Nigeria as no withdrawal shall be made on accounts without validated BVN (customers in diaspora accounts were exempted till January 31, 2016”
The benefits of the BVN are numerous some of them being that they make your account more secure, prevents fraud and identifies exact individuals as a separate entity.
All that needs to be done to register for it is to go to the bank and fill a form, fingerprint scan will also be required and the BVN will either be given to you on paper, sent to you by phone or both will be done.
This article on how to check your BVN is for those who have misplaced this information and requires the number for a transaction.
How To Check Your BVN on Your Phone
All you have to do is to follow the steps below;
With the mobile number, you used to register for the BVN, dial *565*0# and you will receive it.
Although N20 will be deducted from your account. Some other banks have sort codes for checking their BVN numbers, and you can easily do this by finding out the one for your bank.