Yes, because the customer’s physical features e.g. The person’s live fingerprint will not match what is stored on the customer’s record.Īfter the BVN has been generated, what next?Ī customer’s identity can now be verified against their BVN.ĭoes a customer have to be physically present to Enrol? If a person steals another customers BVN and comes to the bank what happens? The customer can only pick up his/her BVN at any branch of the same Bank he/she enrolled. After 10 years of the issuance of the BVN, the customer goes back to his/her bank to re-enroll.ĭoes my BVN number remain the same for Life?Ĭan a customer Enrol in one bank and get the BVN from another bank When does my BVN expire and how do I renew? A customer can update his/her information only at the bank where he/she has an account.ĭoes the BVN change when customers update their record The customer goes to his/her bank and follows the bank’s processes for updating customer information. How/ Where can you update customer information e.g. The customer should contact his/her bank where the enrolment was carried out, to retrieve the number. If a customer forgets his/her BVN what should the customer do? Once the BVN is generated, the bank would inform you of your BVN. How is the BVN communicated to the customer? The BVN helps to reduce fraud, increase the efficiency of banking operations and also enable customer access to future credit facilities. What is the Benefit of enrolling for a BVN? It takes up to 24hrs to 48hrs after Enrolment to get a BVN. Must every customer have a BVN, is it Compulsory? The goal of the Bank Verification Number (BVN) is to uniquely verify the identity of each Bank’s customer for ‘know your customer’ (KYC) purposes.Įnrolment is the process of capturing a customer’s details which includes fingerprint and facial image after which a BVN is generated.Ī customer enrolls at any branch of a bank where he/she has an account or intends to open an account. What is the Goal of the Bank Verification Number? Below are some Commonly Asked Questions about the BVN Project.
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