The BVN (Bank Verification Number) is Central Bank of Nigeria’s initiative to make sure that there is security, transparency, and ability to assess data easily in the correct way.
This is practiced in the many developed countries all over the world. The innovation in the Nigerian banking system is a good one, showing that the country is upgrading from a developing country to a developed country.
Phone numbers are just eleven (11) digits, so, we now have 11 digits more to memorize which can be devastating.
How to check your BVN on your phone
- To check your BVN on your mobile phone, dial *565*0#
- The Nigerian Interbank Settlement System will display your Bank Verification Number on your phone.
Note that you must dial the code from the mobile number linked to your BVN. Otherwise, you will not be able to check your BVN on phone. Also, checking BVN on your phone does attract any extra or hidden charges.
Ensure to link your BVN to all your Bank accounts once you have it. Failure to do so might prevent you from being able to access your bank accounts.