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Bank Verification Number (BVN)
A Bank Verification Number (BVN) is an 11 digit number that is unique to each individual in the Nigerian banking system.
Bank verification numbers are linked to each individual by fingerprint and photograph documentation. This biometric identification system was implemented by the Central Bank of Nigeria in 1958 to enhance the security of banking in Nigeria and to curb fraudulent activity.
How To Get a Bank Verification Number
Here are the instructions to register for your unique BVN in Nigeria:
- Enter any branch of your bank;
- Fill out and submit a BVN Enrollment form;
- Submit biometric details (fingerprints, facial image, etc);
- Receive Ticket ID, which acts as a confirmation receipt;
- Receive your BVN by SMS within 48 hours.
A BVN will be issued to you when you open your first bank account in Nigeria. Your BVN will always remain the same with you and will be used the next time you open another bank account in Nigeria.
How To Check a Bank Verification Number
You can easily check your BVN by dialing the USSD code of your Nigerian bank. Your bank's USSD code is the best code to check your BVN. Follow the instructions from the system to access your unique BVN anytime.
If you misplaced your SIM card or mobile phone, you may go to your bank to ask for your BVN information.
The Monito Glossary
When it comes to moving money, don't let yourself be bogged down by all the jargon. Explore The Monito Glossary to get up to speed with everything you need to know about money transfers.
Other Popular Money Transfer Definitions
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