In Nigeria, the Central Bank developed a biometric identification system that generates a unique 11-digit number known as the Bank Verification Number (BVN). Every Nigerian bank account holder must have a BVN code to operate a bank account, and it’s a crucial step towards curbing fraudulent banking activities. In this article, we will discuss what BVN is, why it is important, and how to check it on Access Bank.
What is BVN?
BVN is an acronym for Bank Verification Number, which is an 11-digit unique number generated by the Central Bank of Nigeria’s biometric identification system. The BVN captures biometric data, including fingerprints and facial features of individuals with bank accounts in Nigeria. It is an initiative aimed at providing a unique identity that can be verified across the Nigerian banking industry, thereby curtailing illegal banking activities and increasing the efficiency of banking operations.
Why is BVN Important?
BVN is essential for bank account holders in Nigeria for several reasons, including:
BVN is a tool designed to combat fraudulent banking activities such as identity theft, money laundering, and unauthorized access to bank accounts. BVN links all bank accounts of an individual in Nigeria to one unique identity, making it easier to monitor and verify transactions.
Ease of Transactions
BVN simplifies banking transactions as customers can access their accounts from anywhere, and it helps to reduce the need for multiple registrations with different banks. Bank account holders can link their BVN to different bank accounts, and it serves as a means of identification for all banking transactions.
Regulating the Financial System
BVN is an integral part of the regulatory framework of Nigeria’s financial system. It helps the government to monitor financial transactions, improve accountability, and reduce fraudulent activities in the banking sector.
Protection of Account Information
BVN is confidential and must be kept safe. With BVN, bank account holders can protect their account information from unauthorized access, keeping their funds and identity safe.
How to Check BVN on Access Bank
Access Bank is one of the banks in Nigeria that makes it easy for customers to check their BVN code. You can check BVN on Access Bank using two methods: USSD code or Access Bank mobile app.
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Check BVN on Access Bank using USSD Code
To check BVN on Access Bank using USSD code, follow the steps below:
- Dial 5650# on the phone number linked to your Access Bank account.
- Your BVN will show on your phone screen.
- Copy the BVN code from the screen.
- Note that a fee of N20 Naira will be charged for using this service, so make sure you have airtime on your line before proceeding.
Check BVN on Access Bank using the Access Bank Mobile App Online
To check BVN on Access Bank using the Access Bank mobile app, follow the steps below:
- Download the Access Bank mobile app from Google PlayStore or Apple AppStore on your internet-enabled device.
- Register for Access Bank mobile banking if you haven’t already done so.
- Log in to the Access Bank mobile app using your login details.
- Click on the Profile option.
- Click on Show Details.
- Your BVN will be displayed alongside your email address and phone number linked to your Access Bank account.
If you do not have access to the phone number linked to your bank account, you can visit the nearest Access Bank branch to request your BVN. However, you will be required to provide some information such as a verifiable ID and your bank account number.
BVN is an essential requirement for every bank account holder in Nigeria, and it is crucial for ensuring the security and integrity of the banking system. Access Bank customers can easily check their BVN using the USSD code or the Access Bank mobile app. It is important to keep your BVN safe and secure, as it contains sensitive information that can be used for fraudulent activities.
What is BVN?
BVN is a unique 11-digit number that is generated by the biometric identification system developed by the Central Bank of Nigeria.
Why is BVN important?
BVN is important in Nigeria’s banking system as it helps to curb fraudulent activities in the banking sector. BVN links all your bank accounts and financial transactions in Nigeria to a single unique number.
Can I have multiple BVN codes?
No. You can have multiple bank accounts in Nigeria, but only one BVN code will be used for all your accounts.
How can I check my BVN on Access Bank?
Access Bank customers can check their BVN using the USSD code or the Access Bank mobile app.
What should I do if I forget my BVN?
If you forget your BVN, you can check it on Access Bank using the USSD code or the mobile app. Alternatively, you can visit the nearest Access Bank branch to request your BVN.