In this article, you will learn all the necessary ways to change or update BVN information.
Before the introduction of the Bank Verification Number (BVN), there had been lots of fraud that were carried via the banking sector.
As of then, one can simply work into any bank and open an account with any name, as shown on the means of their identification. These accounts can be used for financial crime, and in most cases, they are not traceable.
The means of identification needed by the banks may be a work identity card, which can easily be forged.
The banks may not even be in the position they verify the authenticity of driver’s license and voter’s card, not to talk of the National ID card and International Passport.
Then you will find people with bank accounts having conflict names. Some of these accounts can’t be traced to the source.
All the created a back door for illegal activities within the banking system. Criminals took advantage of loopholes to commit crimes.
In other to curb financial crime that existed then, the Central Bank of Nigeria (CBN) came up with the Bank Verification Number called the BVN.
Since the introduction of the Bank Verification Number, aka BVN, transaction crimes have reduced drastically.
The BVN brought about dual Verification of details provided to the banks. Opening a bank account now is not as easy as it uses to be.
Before one can open a bank account in Nigeria now, they will have to provide their BVN.
If the person doesn’t have a Bank Verification number yet, they will have to first enroll for it.
If at any point, the detail provided to the bank does not tally with what you have your BVN, the bank may not accept it.
Personally, to me, “I see people’s BVN as their account number with the central bank.” Since everyone’s local bank account is linked to the BVN, it can be used to know the sum they all have in Nigerian banks.
The information on your BVN supersedes every other detail the bank may ask you to provide. It is why in many cases, people will want to change, update, or correct the BVN details.
It doesn’t cost anything to update your Bank Verification Number. Simply go to the bank and request the BVN update form. Fill the form with the right information and back it up with evidence, that the information you provided is the correct information.
Likely Mistake to Correct on BVN
1. Change BVN date of birth
To change your BVN date is birth is straightforward. All that is needed is proof in that regard. For the date of birth, your birth certificate is the primary document that will be required.
If you can’t provide your birth certificate, then you can sue an affidavit in that regard.
2. Change your BVN name
The major reason that can make one want to change their BVN name is marriage. In this part of the world, after every successful marriage, wives always want to change their surname to that of their husbands.
If you walk into the bank and request a name change on your BVN details, before this can be executed, you will be asked to provide your marriage certificate as evidence of the marriage. In some cases, it may accompany an affidavit.
3. Correct misspelled BVN name
In most cases of misspelled names, the error always comes from the bank. That is the person who imputed your details.
When you realized this error, you will have to sue an affidavit and take it to the bank together with the BVN update form, before the update will be initiated.
How to Check your BVN
1. Check BVN with USSD code: dial *565*0#
The USSD works on all mobile networks in Nigeria; this includes MTN, Airtel, Glo, and 9mobile. For all mobile networks, it is the same USSD code the is applicable. Once you dial the shortcode, your BVN will pop up on your mobile in a few seconds.
Simply dial *565*0# to get your Bank Verification Number.
Note that the code must be dialed from a mobile number that you use to register your BVN.
2. Get BVN from the bank
If for whatever reason, you don’t want your phone code to check it, you can walk into any of the banks you have an account with and request for your BVN. It will be given to you in no time.
3. Copy BVN
Some people who don’t like stress will write the BVN somewhere. Once they need it, they simply go and copy it from where they wrote it.
4. Memorize BVN
The Bank Verification Number is only 11 digits, which is not hard to memorize. If you trust your brain, why stress yourself!
Simply memorize it and recall it whenever you need it.
Frequently asked questions on BVN
1. How long will it take to change your BVN name?
Once the necessary requirements have been provided, it takes 24 hours for the change to take effect.
2. What is required to change the BVN name?
The only thing that is required to change a BVN name is any legal evidence. In the absence of that, an affidavit will be accepted.
3. Where can I change my BVN details?
The only place to change BVN information is the bank. Simply walk into any commercial bank and request to change BVN details. You will be told how to go about it.
4. My BVN name is different from what is on my ID card, how do I correct it?
First, you will have to know which is the correct one and the wrong one. If the name on the ID is incorrect, you can go and correct it from where the card was provided.
But if the BVN name is the wrong one, walk into any commercial bank, preferably the one you have an account with, go with an affidavit, and request for a change of BVN name.
5. My BVN date of birth is wrong; what do I do?
Go to the bank with your birth certificate. In the absence of that, an affidavit will be required.