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How to Update BVN in GTBank
Are you a GTBank account holder and need to update your Bank Verification Number (BVN)? BVN is a unique identification number that is linked to every bank account in Nigeria. It is a mandatory requirement by the Central Bank of Nigeria (CBN) to curb fraudulent activities in the banking industry. Failure to update your BVN may result in your account being frozen. In this article, we will guide you on how to update your BVN in GTBank.
What is BVN?
BVN stands for Bank Verification Number. It is a biometric identification system that assigns a unique number to each bank customer. This number is linked to all bank accounts of the customer, making it easier to verify their identity. BVN was launched in 2014 by the CBN to reduce fraudulent activities in the banking industry.
Why do you need to update your BVN?
Updating your BVN is important for the following reasons:
- To avoid your account being frozen: Failure to update your BVN may result in your account being frozen by the bank.
- To avoid identity theft: Updating your BVN ensures that your bank account is secured and cannot be accessed by unauthorized persons.
- To comply with CBN regulations: Updating your BVN is a mandatory requirement by the CBN.
How to update your BVN in GTBank
Updating your BVN in GTBank is a simple process that can be done in three easy steps:
Step 1: Visit any GTBank branch
Visit any GTBank branch closest to you with the following documents:
- A valid means of identification (e.g. National ID card, International passport, Driver's license, and Voter's card).
- A recent utility bill (e.g. NEPA bill, Water bill, and waste bill).
Step 2: Fill the BVN update form
Request for the BVN update form from the customer service representative and fill in the required details.
Make sure you fill in the correct information to avoid any errors. Ensure that the information on the form matches the information on your means of identification.
Step 3: Submit the form and wait for confirmation
Submit the completed form to the customer service representative.
Your BVN will be updated within 24 hours, and you will receive a confirmation message from GTBank.
FAQs
- How much does it cost to update my BVN in GTBank?
Updating your BVN in GTBank is free.
- What happens if I don't update my BVN in GTBank?
Failure to update your BVN in GTBank may result in your account being frozen by the bank.
- How long does it take to update my BVN in GTBank?
Your BVN will be updated within 24 hours, and you will receive a confirmation message from GTBank.
- Can I update my BVN online?
No, you cannot update your BVN online. You need to visit any GTBank branch closest to you to update your BVN.
- What documents do I need to update my BVN in GTBank?
You need a valid means of identification (e.g. National ID card, International passport, Driver's license, and Voter's card) and a recent utility bill (e.g. NEPA bill, Water bill, and waste bill).
Conclusion
Updating your BVN in GTBank is a simple process that can be done by visiting any GTBank branch closest to you. Failure to update your BVN may result in your account being frozen. So, it is advisable to update your BVN to avoid any inconvenience. Follow the steps above to update your BVN in GTBank.
