How to exclude the bank verification number (bvn) from loan applications
Learn
how to completely delete BVN from loan applications.
In
Nigeria, there are a ton of lending applications that allow you to quickly
apply for modest loans without putting up any security.
You
will often need to supply information like your name, phone number, and your
Bank verification number before applying for a loan using these applications
(BVN).
The
bank verification number, which consists of 11 digits and is exclusive to each
bank account holder, is often connected to all of your bank accounts. It was
implemented by the Nigerian central bank to monitor and control financial
crime, fraud, and theft.
It
doesn’t matter if you have 10 different bank accounts in 10 different banks,
you can only have one BVN, which will be linked to all your bank accounts.
Now,
it is no news that some of these loan apps offer ridiculous interest rates on
the loans, which make it difficult for people to pay back.
It
is very possible that the loan app can automatically debit the amount owed to
them, plus the interest from your bank account, if they have access to your
bvn.
Continue
reading if you want to learn how to delete your bvn from loan applications.
What exactly is bvn?
The
bank verification number is a one-of-a-kind 11-digit number that is normally
associated with all of your bank accounts. It was implemented by Nigeria's
central bank to prevent financial crime, fraud, and theft, among other things.
How can I delete bvn from loan applications?
If
you wish to delete your bvn from a loan application, you must perform one of
the following:
Remove your account.
Your
bvn will be saved in the loan app's database once you register and submit all
the necessary information, therefore the only way to delete it is by
deactivating your account.
All
of your information, including your BVN, will be deleted from the loan
applications database when you terminate your account.
You
can often delete your account from your profile in loan applications; all you
have to do is browse to it and click.
Message customer service
You
must get in touch with the loan app customer care and ask them to deactivate
your account if you cannot locate the option to do so on the app.
You
can email them a letter explaining why you wish to deactivate your account.
Your
account will be terminated, and their database will be cleared of your bvn at
that time.
Conclusion
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