A user sent us a mail asking how she can add her BVN (Bank Verification number) to her Piggyvest account. Although we have replied via email, we will love to make this public so that everyone having this issue can rectify it with ease.
In this article, we will show you how to link your BVN to your Piggyvest account.
Before now, adding a Bank verification number to Piggyvest was a seamless process until CBN struck with a policy. Then, all you had to do was enter your BVN number in the Piggyvest app or website and it will be verified automatically.
The BVN automatic verification service was provided by Paystack before the Central bank of Nigeria banned fintech and non-financial institutions from performing BVN validations.
Here we go;
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How to Add BVN to Piggyvest
There are two different methods to verify your BVN on Piggyvest. Both methods involve sending a mail to Piggyvest;
Screenshot the part the contains your Bank verification number. Most bank mobile apps have the bank verification number displayed in the app.
Armed with the screenshot, send a mail to email@example.com with the screenshot and a clear copy of a valid identity card. You must take a selfie holding the identity card.
Visit the NIBSS BVN validation portal.
Enter your Bank verification number in the space provided and click search.
On the next page, you will be requested to pay a BVN search fee of 25 Naira.
Choose your mode of payment from the list of options and make your payment.
If the payment is successful, you will get a search result containing your BVN and full name.
Screenshot this page and send it in a mail to firstname.lastname@example.org with a valid means of identification.
It is best if you can send the mail with the email you used in registering Piggyvest.
Once your BVN validation is approved, it will be manually added by a Piggyvest to your account and every limitation on your account will be removed.
Five Reasons Why you Should Add your BVN to Piggyvest
Withdrawals: You cannot withdraw money from Piggyvest if you do not add your BVN. It is a mandate from the central bank of Nigeria for Fintech companies like Piggyvest to collect BVN from customers before providing financial services.
Flex Account Number: Piggyvest has a feature that provides you with a personal account number that you can share with anyone. This would allow family, friends or colleagues to transfer money to your Piggyvest account from any bank account in Nigeria.
The Piggyvest flex account number is domiciled with Wema bank Nigeria.
Transfer funds to other users: Piggyvest allows you to transfer funds from your flex account to other Piggyvest users. Transfers on Piggyvest flex accounts are free and instant. To enjoy this feature, you must add your BVN to Piggyvest.
Thank you for reading this article. We hope this article helped you solve your problem on adding BVN to Piggyvest. If you have questions, you can drop a comment below.
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