Before you learn how to check your BVN online, let’s find out what exactly BVN is.
Bank Verification Number also known as BVN is an 11 digit number. The BVN serves as your universal ID in all the banks or financial institutions in the country.
The need for BVN came up when the Central Bank of Nigeria (CBN) implemented its cashless policy. One of the reasons for the BVN was to curb all forms of financial fraud and theft. Additionally, your BVN also enables you carry out transactions at any point of banking operations.
Here’s the statement released by the CBN with regards to the BVN
“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 in 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”
Overall, the BVN can be said to be an initiative by the CBN to ensure transparency, security and easy assessment of data in accordance with best practices in developed countries. These are the benefits of having a BVN:
- Secures your bank account
- Exposes fraudulent transactions, theft and blacklisted customers
- Provides with a unique ID that you can use in any bank
Once you register, the BVN is attached to your name across all banks or financial institutions in the country.
Despite being an 11 digit number, you don’t neccesarily have to memorise your BVN. There are ways to check the number on your mobile phone anytime you need to even if you don’t have an internet connection.
How to check your BVN online
So the question you’re obviously asking is how do I check my BVN online?
Well, it’s quite straightforward.
All you have to do is to simply dial *565*0# using the mobile phone you used for your account registration. But it comes at a cost. You will be charged N20
If you’re yet to register you’ll receive this information, “Sorry your number is not enrolled on the BVN platform. Thank you for using BVN service. You have been charged N20 for this service.”
In this case you can register by following the steps below;
- Enter any Nigerian bank of your choice
- Request and fill the BVN enrolment form
- Submit the form
- Your biometric data will be taken i.e facial, thumb print
- You will be given an acknowledgement slip with a transaction ID
- Within 24 hours you’ll receive your BVN
Apart from the code *565*0#, some banks also have their specific shortcodes to allow their customers check their BVN on their phone. For instance, if you’re a GTBank customer, you can dial *737*6*1# to check your BVN.