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13 Simple Things Bank Customers Must Know About BVN

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As the deadline for the registration for the Bank Verification Number (BVN) is tomorrow, here are some things you need to know about it.

Bank Verification Number, BVN, is part of the Central Bank of Nigeria, CBN’s, cashless policy to capture customers’ data and check fraud in the banking system.
It is an initiative of the CBN to give every customer in the Nigerian banking system a unique identification number that can be verified across all banks in Nigeria.
1. The enrollment process for acquiring your BVN is simple.
2. Visit any branch of the bank you have an account with. Registration by proxy not acceptable.
3. Collect and fill the BVN enrollment form with all personal data about you.
4. Submit the completed form to a designated official at your bank, who
would then transfer the information given into a computer database.
5. The official will take your photograph and fingerprints.
6. You will sign your signature that will be captured electronically into the data system.
7. A small temporary registration acknowledgment slip will be issued to
you, followed by an email or SMS conveying a similar information.
8. A BVN identification card with a computer chip bearing your embedded
personal information will be issued to you for collection at your
designated bank branch.
9. BVN registration exercise is mandatory for all individual customers.
10. Registration must be completed on or before June 30, 2015.
11. Also, after deadline, you may not be able to do any financial transaction
in any bank in the Nigerian banking system as you will require your
fingerprint for authentication.
12. BVN registration is for individual account holders in the meantime till further notice.
13. Registration in one bank covers all accounts the individual might have in all other banks.


Source: Premium Times