PiggyVest is one of Nigeria’s most popular online savings and investment platforms. When you create an account, you provide your Bank Verification Number (BVN) for identification purposes.
However, you may later decide you want to delete your BVN from PiggyVest’s systems to increase privacy and security. Here is a step-by-step guide on how to fully remove your BVN from PiggyVest and some extra tips to further safeguard your identity after detachment.
Overview of PiggyVest and BVN
For context, let’s briefly recap what PiggyVest and BVN are:
- PiggyVest is a fintech platform founded in 2016 that offers Nigerians online savings accounts with attractive interest rates, options to invest in securities and mutual funds, and more.
- BVN stands for Bank Verification Number. It is the unique 11-digit identifier issued to all bank account holders in Nigeria. Banks use BVNs for identity verification when opening accounts.
During signup with PiggyVest, you need to provide your BVN. This links their system to your banking identity for authentication and security purposes.
Key Reasons to Remove Your BVN from PiggyVest
While linking your BVN makes the initial account setup process smoother, here are some top reasons you may eventually want to detach it:
- Enhanced Privacy – Removing your BVN prevents PiggyVest from directly accessing your banking information, biometric data, and other identity details, giving you greater control and privacy.
- Compartmentalization – Detaching your BVN silos it just to your bank rather than exposing it across platforms, limiting risk if any one system is breached.
- Flexibility for New Accounts – Taking your BVN off PiggyVest gives you a clean slate if you need to open savings or investment accounts on other platforms in the future.
- Peace of Mind – You may feel more comfortable not having your sensitive banking identity data continually shared with a third-party fintech without ongoing explicit consent.
Step-by-Step Guide to Removing Your BVN from PiggyVest
If you are ready to delete your BVN, here is a step-by-step walkthrough:
1. Contact PiggyVest Customer Support
Reach out to PiggyVest’s customer experience team via in-app chat, email, or phone call. Explain that you want to delete your BVN from their system. This starts the removal process.
2. Submit a BVN Removal Request
PiggyVest support will provide you with a data deletion request form. Fill in your registered account details and confirmation that you want your BVN detached. Sign and return the completed request form.
3. Wait for Confirmation
The PiggyVest team will process your BVN removal request within 1-3 business days typically. Wait for an email confirmation once the deletion is fully completed.
4. Try BVN Verification
In the PiggyVest app, try taking any action that requires BVN verification, like adding a new bank connection. If you get an error, the removal was successful.
5. Inform Your Bank
Additionally, contact your bank and ask them to revoke PiggyVest’s access privileges to your BVN data for extra security.
By completing these five key steps, you can fully delete your BVN from PiggyVest’s systems and records.
What to Do After Removing BVN from PiggyVest
Once your BVN is detached from PiggyVest, here are some extra precautions you can take:
- Immediately change your PiggyVest account password to something strong and unique.
- Review your bank account statements regularly for any suspicious transactions.
- Beware of potential phishing attempts claiming to be from PiggyVest asking for personal info.
- Monitor your credit reports frequently for any unauthorized activity.
- Compartmentalize accounts and data across different platforms and devices.
- Enable two-factor authentication on your PiggyVest account for extra security.
- Contact PiggyVest support if you have any other concerns about your account privacy or security.
Reconnecting Your BVN with PiggyVest in the Future
If you change your mind down the road, you can re-link your BVN to your PiggyVest account by:
- Contacting their customer support team and asking to re-verify BVN.
- Completing their consent form to reconnect BVN.
- Inputting your valid 11-digit BVN when prompted to relink it.
- Checking that the re-verification was successful by testing a BVN-linked action.
- Informing your bank that you have reauthorized PiggyVest to access your BVN data again.
Removing your BVN from PiggyVest requires a few simple steps but can meaningfully improve your privacy and security. While detaching your banking identity takes some initial effort, it allows you to compartmentalize your data and take back control. Follow this guide for a smooth BVN removal process.Sharing Is Caring: