BVN is a special number that is allocated to every person who operates a bank account. It has become a significant requirement to perform various functions, especially in the bank where it is compulsory for necessary documentation and transactions. As long as you have an MTN SIM Card, if you find yourself in a situation where you need your BVN but find it difficult to access it or you probably forgot the number, this will guide you on how to check your Code for BVN on MTN.
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Understanding BVN and its Significance
The acronym BVN represents Bank Verification Number, this number has about eleven figures and it serves as a unique means of identifying a person in Nigeria. It is specially assigned to an individual and designed to fulfill the purpose of eliminating financial crime, money extortion and laundering, identity theft, and fraud.
The Central Bank of Nigeria initiated this as a means of tightening and strengthening the security system within the financial system. Attached to the BVN is the biometric identification of every individual who owns a personal account, as long as you own a bank account, the BVN can be linked to all other accounts owned in other banks.
Benefits of BVN Code on MTN
There are benefits attached to having your BVN linked and accessed on MTN, these benefits are:
- Security: It is safe a secured from illegal access or any kind of suspicious fraudulent dealings.
- Ability to Recover Account: If there is an unfortunate situation of phone loss or Stolen Sim, your BVN linked to your MTN SIM can help you in the recovery process.
- Fast Access: It is a quick way of getting your BVN within a short period. As soon as you dial the code, your BVN is sent to you.
- Quick Verification: There is no need for continuous repetition of verifying your identity with MTN.
- Reliability: You are assured of gaining access to receiving your BVN as long as you have at least #20 for the service charge.
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How to Check Your BVN Code on MTN
You do not require a lot to check your BVN and you do not need to panic because you have forgotten the numbers that make up your BVN. These steps will ensure you get your BVN Code on MTN.
The Simple tools you need to enable you to accomplish these tasks are:
- Mobile phone
- MTN SIM Card
- Network connection
- A service fee of N20
Steps to Get the BVN Code on MTN
- Get your mobile phone
- Go to your phone’s dialler keypad
- Dial *565*0# and press Call
- A message will be sent to you with your BVN number
Importance and Usefulness of BVN
- It is a valid and accepted means of identifying a person
- Ability to track down Users in case of Fraud, illegal activities, or loan defaults
- Guaranteed verification of users across different banks.
- Ease of banking process which reduces queues.
- Secured database with correct and complete biodata of each individual
Requirements for BVN Enrollment
Before you can get a Bank Verification Number(BVN) which will enable MTN to provide you access to a BVN. You must have a BVN from any recognized commercial bank in Nigeria. The requirements that will validate you to get one are:
Bank Enrollment Form: You can get the bank enrollment form from any recognized financial institution in Nigeria, fill in your correct details and submit the form to the appropriate section.
Data Capturing: To ensure that you get your BVN, you must have a valid passport photograph or other means of capturing your image will be provided as long as you’re present, your fingerprints are also necessary. After all these processes are complete, you will be given a slip showing proof of acknowledgment with transaction ID.
NB: The application and enrollment process is completed and the BVN is successfully activated, you will be sent an SMS stating completion and this takes place within 24 hours.
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Frequently Asked Questions
Q: What is the MTN code for checking BVN?
A: The code for checking BVN on MTN is *565*0#
Q: Is it secure to check my BVN on MTN?
A: Yes, it is secured and safe when you check your BVN on MTN.