How To Check Your BVN On Your Phone

It is longer news that you need a BVN to have access to certain financial services in Nigeria, but many people still don’t have access to their BVN, because they have forgotten and don’t have saved it after enrolling. We have however compiled a step-by-step guide on how to check your BVN on your Phone. But before getting to that, what exactly is a BVN and what are the benefits.

What is BVN

BVN is an acronym for Bank Verification Number,  a biometric identification system implemented by the Central Bank of Nigeria to curb or reduce illegal banking transactions in Nigeria. It is a modern security measure in line with the Central Bank of Nigeria Act 1958 to reduce fraud in the Nigerian banking system.

The BVN is a unique 11-digit number allocated to you upon biometric registration which involves capturing unique physical features of an individual, such as passport photograph and Fingerprint. The 11-digit number is unique to each individual, but the same across all bank institutions for the same individual.

The Central Bank of Nigeria (CBN), in collaboration with all Nigerian banks, launched the Bank Verification Number (BVN) as a centralised identification system in  2014. The BVN was needed to address the increasing compromise of customer security data like passwords and PINs, and the challenges banks face with identity management.

It is imperative to note that BVN is a personal security number that should be kept private.

How to enrol for BVN

Below is the step-by-step guide on how to enrol for your Bank Verification Number in Nigeria.

• Walk into any branch of your bank.
• Fill in and submit the BVN Enrolment form.
• Present yourself for data capturing (such as Fingerprint, facial Image etc.)
• An acknowledgement slip with the transaction ID is issued to you.
• Within 24 hours, the system confirms your application, your BVN is generated, and you receive an SMS for pickup.

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Benefits and Uses of BVN

Below are the benefits and uses of the Bank Verification Number in Nigeria.

• BVN is accepted as a means of identification across all banks in Nigeria.
• It is used for the verification and validation of the customer’s identity across multiple platforms.
• With BVN, Financial institutions can track customers, especially in loan repayment.
• BVN limits Cyberfraud  and ensures standardized efficiency of Banking operations

How To Check Your BVN On Your Phone

If you have lost and forgotten  BVN, here is a step-by-step guide on how to retrieve BVN by checking with your phone.

1. Dial *565*0# using the phone number you  used in the BVN enrollment
2. Wait a bit until the 11-digit number pops up.
3.  You can either copy it for immediate use or save it for later.

It is imperative to note that the service is not free and you’ll be charged 20 Naira for the transaction. Also, the process for checking your BVN is the same across all banks.