DaBullIT:
Good Job, that covers it all

Yahoo guys or not , No one else can cash out from your bank account without banker's complicity meaning Inside Job, also instead of forcing BVN, how about removing corruption completely from banking systems and / or Investing in Banking system security

Otherwise even if you cut your finger and keep it at the bank, as long as you access your bank account online, You are prone to getting hacked by hackers , not just yahoo boys

my dear, hackers can install Kellogg erst to get ur pin from a remote location, but when ur print is ur password, if we get to that stage, the hackers can't access it and thus cloning your card wohkd be useless, the truth is that the Bvn is not against hackers, it's against local fraud, because out banking system looses more to local fraud than to hackers, with Bvn people can't open fake accounts with fake information again because their biometrics would bring out their real info, and thus all the fake accounts used to perpetrate fraud woukd be lost, and that type of fraud greatly reduced, some kind of frauds need an insider but not all, if a local spammed get hold of ur account information through spacing, with the present bank practice all he has to do is open a dummy account and transfer your funds there, but with Bvn the dummy account is eradicated

But really all the had to do was request all customers to provide nin, with that u can't provide two nin at different banks because the verifier would bring out ur real info, it makes the whole Bvn paint the Jonathan team look like they are not working together, how can ur cbn governor be touting Bvn when u have already set up the NiN, it means the cbn doesn't trust ur own programs as d head of state, that paints the picture of a house divided, what is d coordinating minister doing about it, all arms of government should work together in harmony and not a house divided on itself... Next

USAutoBuy:


BVN is a very good thing if you must know. While no system is 100% secure, the next best thing is to attain perfection as close as possible. In the States, you obtain your bank account with Social Security Number (Like a tax ID). I assume same in the UK. You can only obtain 1 Social security in a lifetime (i am not saying that there are no cases of fraud). But for 99% of the people its one per person.

If you mess up your banking relationship, you wiull be reported to a general bank database and you wont be able to open another one.

But in Nigeria, the BVN is better. It will get to a point that they will compare your fingerprint to the BVN before you can withdraw.

If someone cash a check by fraud, the fingerprint can be matched with the database and he will be caught.

Only the bank has the incentive and resources to combat fraud. At least in Nigeria.

Long live BVN

tiamiyukunle69:
Did mine a long time ago yet I didn't receive any BVN from GTB

go back to the bank with ur small ticket they gave you after registration, they can always check and write out for you

amywonda:
some kind of frauds need an insider but not all, if a local spammed get hold of ur account information through spacing, with the present bank practice all he has to do is open a dummy account and transfer your funds there, but with Bvn the dummy account is eradicated

You have made sense but I still don't agree with you, what you are saying in essence is that bank PHB, Skye, Gtb, Fbn, diamond, unity wema. E. T. C will have a common data pool which they would compare to verify? Even that's more dangerous for customers and banks themselves, Besides the real fraudsters engage cmd's and bank managers to clear out funds from illegal sources, I heard of a case where manager used a live account to clear out $800k , how would bvn prevent that?

Furthermore almost all the banks are asking you to create account online, although the accounts will be limited to certain amount per transaction it doesn't stop fraud

Finally Nigerian banks are skipping important steps they want to move directly to perfect banking, for this to happen we need population management database, Citizens identification number which would be issued at birth to babies and updates frequently like the west's Social Security number even that does not work effectively. Man makes a rule, Man breaks the rule, I agree with you partially but the Nigerian approach can not work


Period

amywonda:
But really all the had to do was request all customers to provide nin, with that u can't provide two nin at different banks because the verifier would bring out ur real info, it makes the whole Bvn paint the Jonathan team look like they are not working together, how can ur cbn governor be touting Bvn when u have already set up the NiN, it means the cbn doesn't trust ur own programs as d head of state, that paints the picture of a house divided, what is d coordinating minister doing about it, all arms of government should work together in harmony and not a house divided on itself... Next

Not exactly. The data collected is different for different purposes. Not everyone that register for NIN has bank account and vice versa. People living overseas will not have NIN but might have bank account. So the NIN database is useless.

Second, you have to worry about pairing the NIN database with account numbers which might create errors. Its better, faster and easier for the bank to just record your data against your fingerprints one time.

Lastly, is the issue of ownership. CBN DOES NOT OWN the NIN database. They cannot just have access to it even if they want to. Its better for banks to just make their own and use it as they see fit cos all the info they need will be there when setting up

Caracta:


No. You get it done in one bank and it covers for all your accounts.

...but you ll still have to take the BVN to other Banks

shollynoob:

...buy you ll still have to take the BVN to other Banks

Verification

franciskaine:
This verification stuff is just not necessary.

Says who?

Hope you're not among #Team-MarkOf666

Go do your verification

stepo707:
Well how long does it take before am issued a BVN.I registered 3weeks ago?

It shouldn't take more than 24 hrs .
if you don't get it after 24hrs,it means your verification was most probably unsuccessful.You have to go register again.

funsho75:

www.vanguardngr.com/2015/03/importance-of-bank-verification-number/

begining of the mark of 666

hedonistic:


Funniest thing I have read this year. Even America's banking system loses billions of dollars every year to fraud (and our Naija boys - all the "elegushi spenders" and co - partake in this annual feast in the millions of dollars). If Fraudulent transactions have not been eliminated in the United States, it is laughable to even suggest that it is possible in Nigeria in the next 20 years. Get real.

where there is a problem, an opportunity to proffer solution, solution is value and men will pay for value. #teamWhiteHat

That is setting us up for identity theft. Who is going to manage the data? How can I trust CBN to manage my bio data based on the Nigeria public sector history. Good part is that it is not mandatory. If they have refused to use RC Number (for companies) in managing corporate credit performance across several banks, will they use BVN? Some specific companies have been recognized for their biodata technology. Good luck to them and their bank accounts.

engrhorla:
I doubt u sir...1st bank, 2weeks!
Anyway, d normal thing is u'll get ur bvn under 24hours by sms. If u dnt, go back 2 d bank with the slip or ticket with you
That's all!

.


It took me two weeks to get my own BVN from First Bank. But if it varies from customer to customer, that is not my fault o.

Stored my money at home. No verification required.

End time preparations, quote me

USAutoBuy:


Verification

Take ya tym

End time things

If this is fully actualised, internet payment merchant such as paypal will allow us all Their features as people sending money to us, and not only us sending to them. Our repution in the internet will be a bit okay,its just too hard to make online payment even with Nigeran paypal. I drop my hat!

Politicians with multiple accounts under different names and Sex are done for.... Civil servants can no longer open account wi5h their child's name to hide billions.

Kudos to Jonathan... The man wey sabi.

Southark:
That is setting us up for identity theft. Who is going to manage the data? How can I trust CBN to manage my bio data based on the Nigeria public sector history. Good part is that it is not mandatory. If they have refused to use RC Number (for companies) in managing corporate credit performance across several banks, will they use BVN? Some specific companies have been recognized for their biodata technology. Good luck to them and their bank accounts.

My advice to you : Register while it is still easier.;after June you will be the one to beg to do it unless there is an extension

It is a protective measure on the part of depositors, and good working platform for the bankers. A veritable economic tool for the government at large.

I have done mine already.

slimyem:
It shouldn't take more than 24 hrs .
if you don't get it after 24hrs,it means your verification was most probably unsuccessful.You have to go register again.

i went to the bank and then they retrieved it for me.Thanks

wordcat:


Says who?

Hope you're not among #Team-MarkOf666

Go do your verification

not at all brother, I even castigate those who preach such around me. My dislike for the program stems from the fact that our existing details are with the banks. The BVN ish is a repetition of what has already been done before.

franciskaine:
not at all brother, I even castigate those who preach such around me. My dislike for the program stems from the fact that our existing details are with the banks. The BVN ish is a repetition of what has already been done before.

Yeah, but now they're taking our FINGER prints which makes it different from others.

wordcat:


Yeah, but now they're taking our FINGER prints which makes it different from others.

Sir, u win.

USAutoBuy:


BVN is a very good thing if you must know. While no system is 100% secure, the next best thing is to attain perfection as close as possible. In the States, you obtain your bank account with Social Security Number (Like a tax ID). I assume same in the UK. You can only obtain 1 Social security in a lifetime (i am not saying that there are no cases of fraud). But for 99% of the people its one per person.

If you mess up your banking relationship, you wiull be reported to a general bank database and you wont be able to open another one.

But in Nigeria, the BVN is better. It will get to a point that they will compare your fingerprint to the BVN before you can withdraw.

If someone cash a check by fraud, the fingerprint can be matched with the database and he will be caught.

Only the bank has the incentive and resources to combat fraud. At least in Nigeria.

Long live BVN

American banks as you agreed uses Social Security NOT fingerprint or any other biometric data. Nigeria should have created a Social Security number system which would have also done the job.

In the U.S. no organizationn or company or institute has the right to obtain your biometric data except police ONLY when you commit crime!

Banks shouldn't have your biometric data for any reason. It just doesn't add up.

franciskaine:
Sir, u win.

As an Atheist, I don't argue to win; rather I argue to learn.

In this case, there's No winner and No loser.

Sir, pls stop that notion. God exists!

engrhorla:

Yes!
And may I say that this is a first in financial industry in d whole wide world! I pray we get it right.

Doesn't make sense to me at all..

NobleG1:

American banks as you agreed uses Social Security NOT fingerprint or any other biometric data. Nigeria should have created a Social Security number system which would have also done the job.
In the U.S. no organizationn or company or institute has the right to obtain your biometric data except police ONLY when you commit crime!
Banks shouldn't have your biometric data for any reason. It just doesn't add up.

But in Nigeria, if you implement something like social security number, it MIGHT be riddled with fraud, but you only have one fingerprint. And for your info, several years ago, to combat fraud in the US, if you want to cash a check and you don't have an account with that bank, they will ask you to fingerprint on the check. Just an index finger.

By that if there is any issue, they turn it over to the police. Granted there is a database in the states. Fraud dropped almost 90%. Nigeria lacks any database hence the banks are beginning this.

For your info, there are some companies that requires the workers to clock in with fingerprint. Reduces the issue of someone clocking in for another worker. The fingerprint database is kept with the company in those cases

Regards