Can someone hack/steal my money from my bank account with my BVN?

The central bank of Nigeria in collaboration with all Nigerian banks launched a centralized biometric identification system tagged bank verification number (BVN).

The bank verification number (BVN) is an initiative aimed at protecting bank customers and further strengthening the Nigerian banking system.

With the increasing incidents of compromise on conventional security systems (password & PIN), there is a high demand for greater security on access to sensitive or personal information in the banking system. The BVN exercise is mandatory for all account owners.

What is Bank verification number (BVN)?

The bank verification number is an 11 digits’ number that is unique to all bank account owners, and it is usually linked to all of your bank accounts. It was introduced by the central bank of Nigeria to curtail and monitor financial crime, fraud & theft.

The bank verification number usually has information like passport photograph, fingerprint, name, age, Date of birth etc.

Benefits of the bank verification number (BVN)

• BVN gives a unique identity that can be verified across the Nigerian Banking Industry (not peculiar to one Bank)
• Customers Bank Accounts are protected from unauthorized access
• It will address issues of identity theft, thus reduce exposure to fraud
• The BVN will enhance the Banking Industry chances of being able to fish out blacklisted customers
• The Customers unique BVN is accepted as a means of identification across ALL Nigerian Banks

There are lots of people who have been asking if it is possible for someone to hack/steal money from your bank account if they know your BVN.

In this post, I am going to be answering this question, and you should fully have an answer to this particular question.

Remember to leave us a comment after you finish reading and also share with your friends on social media.

Let’s get into it then…

Read my post on how to check BVN on UBA

Can someone hack/steal my money with my BVN?

It is very possible for someone to hack your bank account and steal your money with your BVN, but it is not usually that straightforward.

The BVN in itself cannot be used to get access to your bank account, however it can be the first step the hacker can require to get access to the other details needed to get access to your bank account.

You should know that the BVN contains sensitive details like passport photograph, phone number, fingerprint, name, age, Date of birth etc.

If a hacker can get access to these details, they can use it in tricking you to reveal your sensitive bank details like your card number, PIN etc.

Some hackers have been known to collaborate with greedy bank officials to get your account details and use it to steal your money.

No matter what, you should never reveal your BVN to anybody, and you should know that your bank will never call you and request for sensitive bank account details like your PIN, CVV etc.

Anybody who requests for these details claiming to be your bank staff is most definitely a scammer who wants to steal your money.

What to do if your BVN is compromised?

If your BVN has been compromised, then you can go ahead and block bank account by using your bank USSD code or contacting your bank customer care to do it for you. As a last resort, you can also visit your nearest bank branch.

You should however know that someone knowing your BVN does not mean that they can steal your money, this can only happen if they know your other sensitive bank details like your PIN, CVV etc.

How to check your BVN?

You can check your BVN via USSD easily. All you have to do is dial *565*0# from the phone number that is registered with your bank account.

Once you dial the code, your account balance will be displayed alongside your bank account name, your bank account number and also your BVN.

You should also know that this cost 20 naira i.e. you need to have at least 20 naira in your balance for this to work.

Read my post on how to know if your BVN has been blacklisted

Summary

With the above, you should now know if your bank account can be hacked if someone is able to get your BVN. I hope this post has helped you in answering this question.

If you require further information, then don’t hesitate to visit our contact page and send us an email or leave us a comment in the comment section below.

We will get back to you as soon as possible.

Conclusion

Thank you for reading my post on Can someone hack/steal my money from my bank account with my BVN? If you have any question or comment, you can leave it below in the comment section below.

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