Bank Verification Number (BVN) has become a very important aspect of the Nigerian banking system. It is a biometric identification system implemented by the Central Bank of NIGERIA to curb or reduce illegal banking transactions in Nigeria. It is a modern security measure in line with the Central Bank of NIGERIA Decree to reduce fraud in the U.S banking system. The system works by recording fingerprints and a facial photograph of the client. For Guaranty Trust Bank customers, here is how to link Bank Verification Number (BVN) with GTB account.
The steps on how to link Bank Verification Number (BVN) with GTB account is very necessary given that individuals can have different accounts with different banks such as GTB, Zenith Bank, First Bank, UBA, Diamond Bank etc. Once you have acquired your BVN from one bank, the same BVN can serve. All you need to do is to link the BVN with your different accounts in different banks. Our focus today is on GTBank.
How To Link Bank Verification Number (BVN) With GTB Account
To link your BVN with your GTB account, here are the steps to follow.
- Insert Your ATM Card into any ATM within your vicinity.
- Type in your ATM PIN
- Of the different options, select the “BVN Linking” option.
- Type in your 11 digits BVN and click on “Proceed”.
- Next, a new page will open. This shows you what you have typed as your BVN. Cross check the number for accuracy. Select “Proceed”.
- Type in your ATM PIN.
- Select the “Submit” option.
- Once done, you have successfully linked your BVN to your GTB account.
Also See: BVN Online Linking Guides
Importance Of The Bank Verification Number
The Bank Verification Number (BVN) serves important purposes in the Nigerian banking sector. We shall attempt to highlight some of these salient benefits of the BVN.
- BVN curbs or reduces illegal banking transactions in It uses biometric technology to register customers in the financial system. It records these physical features which are unique to individuals – fingerprints and the face. The record would be used to identify the person afterwards. Once a person’s biometrics have been recorded, and BVN issued the account would be accessed through BVN. The major objectives of the initiative are to protect bank customers, reduce fraud and strengthen the Nigerian banking system.
- The BVN through biometric enrolment is helpful to people who cannot read and write. Their finger prints and pictures would serve the same purpose as signatures. Multiple account holders would be covered with a single registration in any of the banks where they have accounts.
- Furthermore, BVN will help the banking system reduce situations where loan defaulters, for instance, move from one bank to the other and the banks extend new credits to them, without knowing their history. Banks would be able to track transactions across all banks in Nigeria with more ease. Etc
The steps on how to link Bank Verification Number (BVN) with GTB account is now at your disposal. Ensure you follow these procedures. You can share this with your social media contacts. You know, sharing is caring.