Introduction
To unlock the full split experience, you have to provide your Bank Verification Number (BVN). A question in your head is definitely "Why do you need my BVN".
Before we dive into why, we need to establish that SplitCash is committed to providing you with a seamless and secure financial experience. This is why we request your BVN during registration to verify your identity and create a wallet for you to make easy transactions.
Let's go into detail. Why Does SplitCash Ask for Your BVN?
1. Enhanced Security
At SplitCash, your security is our top priority. We use your BVN to verify your identity, ensuring that you are who you claim to be. This helps protect your account from unauthorized access and fraudulent activities.
2. KYC Compliance
To follow CBN's Know Your Customer (KYC) regulations, financial institutions need to collect and verify certain information about their users. Your BVN is an important piece of information that helps us meet these regulatory requirements.
3. Preventing Financial Fraud
By verifying your BVN, we can detect identity theft, and other forms of financial fraud. This not only protects you but also contributes to a safer financial ecosystem for everyone.
You don't have to enter your BVN. We understand that some users may be hesitant to share their BVN, even with trusted financial platforms like SplitCash.
That's why we offer some features that only need you to verify your identity using your email:
1. During the sign-up process, enter your valid email address for verification purposes.
2. You will receive a confirmation in your email inbox. Open your email and click "verify" and you can start using SplitCash without the need for your BVN.
Please note that while this method allows you to skip the BVN step, it may have limitations on the services and features you can access.
Some advanced features still need BVN verification for security reasons.
SplitCash values your trust and prioritizes your security. We request your BVN to enhance security, follow regulations, and prevent financial fraud.
But, we also offer the option to verify your identity using only your email address for those who prefer not to share their BVN. Your financial safety and convenience are at the core of our services.
We're committed to providing you with a reliable and secure financial platform.
