WHAT YOU NEED TO KNOW ABOUT YOUR BVN AND EASIEST WAY OF CHECKING IT
THE CONCEPT OF BVN
WHY YOU MUST KNOW YOUR BVN
- THINGS YOU MUST CONSIDER BEFORE DIALING THE CODE
- HOW TO KNOWKNOW YOUR BVN IF YOU ARE USING Guarantee Trust Bank (GTB)
- LIMITATIONS OF USING THE MOBILE PHONE APP OPTION
THE CONCEPT OF BVN
Bank Verification number popularly known as BVN was introduced in 2012 by the federal government for the purpose monitoring financial accounts for security against money laundering and other financial crimes. Today it has become mandatory for everyone that has a bank account in Nigeria to register for BVN otherwise the account may not be fully functional.
This idea has brought a drastic change to the modern banking system in Nigeria making it possible for the Central Bank of Nigeria (CBN) to monitor every account name irrespective of the bank that operates the account. To make it simpler, an individual with multiple bank account accounts operating in different banks has one financial record before the CBN due to the BVN that linked to those accounts. This implies that total money owned by the individual could be seen by the CBN thus making it very easy to fulfill the goal the system was setup.
WHY YOU MUST KNOW YOUR BVN
The need to know your BVN is as important as the need to know your mobile phone number. The reason being that you will be required to write it while filling some official forms relating to government agencies and banks within and outside Nigeria. Unlike the National Identification number, the BVN is gradually becoming a vital number you need to know and memorize in your brain. It is an 11 digits number similar to that of mobile phone number.
There are only few ways you can use to know your BVN but the popular one among them is the dialing of code. Another method is using your mobile app.
After its invention and operation, the central Bank of Nigeria brought out a major idea that will enable individuals to know their BVN by simply dialing a code with their mobile device.
- Using your mobile phone that has GLO SIM Card registered with the bank account you are operating, dial *565*0#
- Using your mobile phone that has MTN SIM Card registered with the bank account you are operating, Dial *565*0#
- Using your mobile phone that has Airtel SIM Card registered with the bank account you are operating, Dial *565*0#
- Using your mobile phone that has 9mobile SIM Card registered with the bank account you are operating, Dial *565*0#
From the above, you can obviously see that you need only one code (*565*0#) irrespective of the SIM Card you are using. Therefore, ensure you know this code ‘off-head’.
THINGS YOU MUST CONSIDER BEFORE DIALING THE CODE
- Was the phone number registered with your bank account?
- Was the bank account actually registered with your BVN if you have not done BVN before?
- Do you have enough credit in your SIM Card to enable your telecommunication company debit your SIM Card the stipulated charges?
- Check if you are dialing the right code especially if your bank is GTB.
- Ensure you don’t have any problem with your BVN.
If all these considerations are put in place, obviously your BVN wouldn’t be difficult to fetch out irrespective of your location.
Please note that the code also applies to all the banks. This simply means that UBA, ACCESS, and others make use of the same code. However, GTB uses a different code for its BVN.
Among all the Nigerian banks using *565*0# as their BVN dial code, GTB uses a different dial code. To check your BVN if you registered it with GTB account, dial *737*6*1# on your mobile phone. Your BVN will be shown instantly on your screen.
This option is available for those using mobile phone app from the intended bank. For instance, if you are using Fidelity Bank or Ecobank mobile apps you can check your BVN in them by simply logging into the mobile app and click on the menu bar at the upper part of the mobile app, you will see lists of items on the menu. Click on the part written ‘BVN’ it will display your BVN on your screen.
LIMITATIONS OF USING THE MOBILE PHONE APP OPTION
- You will need internet connection and data to be able to use the service.
- You need to download and signup with your bank’s mobile app.
- You will need to have a good Smartphone that has the ability of handling the banking apps.
- This option is not for those that are less digitally-inclined.
- Some banking apps may vary, meaning that you may find it difficult to see the ‘BVN’ option in the mobile app.
Based on what I have just explained, if you are finding it difficult or impossible to do, please drop your comment for further technical assistance.