The Bank Verification Number(BVN) was set up by the Central Bank of Nigeria (CBN) as a security measure. The BVN is to curb the menace of fraud and illegal bank transactions as only the verified bank owner has access to the number and is, therefore, the only one that can make approved transactions on the bank account.
The BVN also makes it easier for the appropriate authorities to trace illegal activities on a bank account and the person behind these activities as the bank has all the necessary details connecting each bank account owner to an account.
How to retrieve your BVN on Union Bank
If you registered your BVN with Union Bank, even if you don’t have an account with the bank, retrieving your BVN is not a complicated task to undertake. To retrieve your BVN, simply follow any of these two methods.
One, you can retrieve your bank verification number by visiting the customer care office of any Union Bank branch in whatever location is closest to you. At the bank, you will be required to provide a valid identification card such as an unexpired driver’s license, permanent voters card(PVC), National identity card/number, or even a valid student’s ID card. You will also be required to provide bank details like your account number, name, phone number, and any other necessary information. You’ll be given a printed slip at the bank containing your bank details as well as the bank verification number. You should know that you cannot retrieve your bank verification number online or over the phone with a customer care agent for security purposes, you’ll have to visit the bank physically.
Two, you can retrieve your bank verification number by using the USSD code *565*0#. This USSD code works across all mobile networks and banks and so you need not worry about whether the code will go through on an MTN mobile network or an Airtel mobile network. However, you need to dial the code using the number that is linked to your BVN when you initially registered for the BVN.
Once you dial the code your bank verification number will pop up and can be immediately written down or screenshot. However, it is important that wherever you choose to keep your BVN, whether written or not, is safe and can’t be accessible by other people. Also, delete all screenshots after to prevent the chance of your BVN getting into the wrong hands. When you dial the USSD code to retrieve your bank verification number a small charge of #20 will be made for every transaction.
FAQs about BVN
Question: Can I correct my name and date of birth on BVN details if it’s wrong?
Answer: Yes, you can. To make corrections to your name and date of birth, go to the customer care office of the bank where you registered your BVN and make the request for a change. You’ll need a valid identification bearing the correct name(with the right arrangement) and date of birth. You might also need a sworn affidavit that attests to the fact that you’re the same person and not a fraud. Any other detail required or instructions will be passed along by the bank staff.
Question: Will my BVN ever expire?
Answer: Yes, the BVN is only valid for 10 years after which it expires. However, even when you renew it after 10 years the number doesn’t change and remains the same.
Question: Can I link my BVN to all bank accounts?
Answer: Yes, you can. It is very necessary and compulsory to link your BVN to every bank account registered under your name.
Question: How do I link my BVN to ally bank accounts?
Answer: You can do this by using the USSD code unique to your bank account, SMS, or via your bank’s BVN portal or by using your bank’s internet banking site. You can get guidance on how to do this from the bank in question.
Question: Is it safe to share my BVN number?
Answer: No, it isn’t. Your BVN should be guarded carefully and not shared with anybody even bank staff will never ask you to share it with them. This is because fraudsters with access to your BVN can clear out the funds in your account and even use your account for fraudulent activities.