Sometimes when you go to the bank for transaction, your BVN is requested by the customer service representative or the cashier. Most times the next question is How do I check my BVN?
What is BVN?
Bank Verification Number otherwise known as BVN is a modern security measures adopted by the Central Bank of Nigeria to curb financial crimes and reduce illegal banking transactions in Nigeria.
BVN is a biometric identification system introduced in February 2014. The system works by recording facial photography, fingerprints as well as the data of the client. A unique 11 digit number is issued to the customer.
Why The BVN is Important
Bank accounts of customers are protected from unauthorized access.
It tackles cases of identity theft and consequently cuts out the exposure to fraud.
The biometric identification system employed to increase the odds of the Banking Industry in being able to fish out blacklisted customers.
It exposes fraudulent accounts and unusual financial activities on an individual’s bank account.
The BVN system standardizes the efficiency of banking operations.
Great reduction in banking hall queueing
Individual bank customer will under the system posses a unique BVN which is accepted as a means of identification across all Nigerian banks.
How to check your BVN
Checking of BVN is very simple and the process is fast. You can check your BVN using the general USSD code. The USSD code works for all network providers. With your Registered Sim
A unique 11 digit code will display on your screen
Proceed to the bank with it
You will be charged N20 for the service
Note: its important not to give out your BVN to anyone who might pose as a worker from your bank. This is because fraudsters have adopted the use of BVN to phish out account details of customers and possibly defraud them
DISCLAIMER: The above information is sourced from various websites/media reports. The website does not guarantee a 100 per cent accuracy of the figures