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| Can You Open an Online Bank Account Without BVN? |
Can you open an online bank account without BVN? Learn the rules, available options, and step-by-step guide to starting digital banking in Nigeria.
With digital banking becoming more popular in Nigeria, many people are asking: can you open an online bank account without BVN? The answer is both yes and no—depending on the type of account and the bank you’re dealing with.
If you don’t have a Bank Verification Number (BVN) yet, there are limited but practical options for opening accounts online. This guide breaks down everything you need to know, from restrictions to available alternatives.
Understanding BVN and Why Banks Require It
The BVN (Bank Verification Number) is an 11-digit unique identity introduced by the Central Bank of Nigeria (CBN) to curb fraud, track transactions, and ensure financial security across all banks.
Most banks make BVN mandatory for:
- Opening a standard savings or current account.
- Performing transactions above regulatory limits.
- Linking multiple accounts under one secure identity.
Without BVN, banks consider an account incomplete or “tiered.”
Can You Open an Online Bank Account Without BVN?
1. Yes, But With Restrictions
You can open a Tier 1 savings account without BVN. These are low-level accounts meant for first-time users or those still processing their BVN. They have:
- Lower transaction limits (e.g., ₦50,000 deposit limit at a time, ₦300,000 cumulative balance).
- Restrictions on transfers and withdrawals.
- No access to loans or advanced banking services.
2. No, For Full Accounts
For full-featured accounts like current accounts or higher-tier savings, BVN is compulsory. You’ll need to enroll at any bank branch or NIBSS BVN enrollment center.
Banks and Fintech Apps That Allow Accounts Without BVN
Several Nigerian banks and fintechs let you start accounts without BVN—though limits apply.
Traditional Banks
- GTBank: Offers Instant Account via USSD or GTWorld app, later upgraded with BVN.
- Access Bank: Provides Tier 1 savings accounts with limited transactions.
- UBA: Allows instant accounts without BVN but requires BVN for upgrades.
Fintech Apps
- Opay (Google Play Store) – lets you create an account with just your phone number and name.
- PalmPay (Google Play Store) – BVN not required at sign-up, but needed for higher limits.
- Kuda Bank (Google Play Store) – requires BVN for Tier
