1.1. Why do I need to open an account?
Opening an account with VBank gives you access to a wide range of digital banking services such as transfers, bill payments, airtime top-up, savings, and more, all from your phone.
1.2 What do I need to open an account?
To open an account, you will need:
• A valid phone number (to receive OTP for authentication)
• A valid email address (you’ll be required to verify it)
• Your Bank Verification Number (BVN)
1.3 Do I need the phone number linked to my BVN?
Yes, during onboarding you will be required to input the phone number linked to your BVN. However, this phone number does not need to be active or valid for OTP purposes. It is only required to consent to the use of your BVN information.
1.4 Will I receive an OTP during onboarding?
Yes. You will receive OTPs to verify your phone number.
1.5 Is my BVN alone sufficient to open an account?
At Tier 1 level, your BVN is sufficient for opening a basic account. Additional details may be requested for higher account tiers.
1.6 Will I be able to receive money immediately after opening an account?
Yes, you can receive and perform basic transactions right after opening a Tier 1 account.
1.7 Who do I contact if I experience issues during onboarding?
You can reach our support team through any of the following:
• In-app chat
• Email: support@vbank.ng
• Phone: +2342012271396.
VBank Onboarding FAQs Updated
1. Getting Started
Q: How do I open a VBank account?
You can open an account directly from the VBank app. Download the app from your app store, tap Sign Up, and choose your preferred identification method, BVN, NIN, or BVN & NIN. Follow the prompts to set up your account in a few minutes.
Q: What information do I need to open a VBank account?
You’ll need your BVN and/or NIN, a valid phone number, email address, and a clear selfie during onboarding.
We may also ask for your residential address and source of income to meet regulatory requirements.
Q: How long does the onboarding process take?
On average, it takes less than 10 minutes if your information is ready and your network connection is stable.
2. Verification and Security
Q: Why do I need to provide my BVN or NIN?
Your BVN or NIN helps verify your identity, keep your account safe, and comply with Central Bank regulations.
If you provide both, your account automatically upgrades to a Tier 2 account with higher transaction limits.
Q: What happens if my BVN or NIN verification fails?
You’ll see a message letting you know verification couldn’t be completed. You can still continue onboarding and try again later.
Q: What if my BVN and NIN names don’t match?
If the names don’t match, the system will flag an error. You’ll need to update your BVN details at your bank or visit a NIMC enrolment centre to correct your NIN before retrying.
Q: I don’t remember the phone number linked to my BVN. What can I do?
Our system automatically fetches your BVN-linked phone number in the background. You can keep it or add a different number you use regularly. Both will be stored safely per CBN requirements.
Q: Is there an age limit for opening a VBank account?
Yes. You must be at least 16 years old to open an account. If you are younger, you’ll need a parent or guardian to open a Child Account on your behalf.
3. OTP (One-Time Password) Verification
Q: How will I receive my OTPs during onboarding?
You’ll receive 6-digit OTPs via SMS and Email.
The phone number OTP arrives first.
The email OTP comes next.
Q: My OTP didn’t arrive. What can I do?
You can tap Resend OTP (after 60 seconds),
Q: Can I use the same OTP for both phone and email verification?
No. Each channel; phone and email has its own unique OTP.
Q: How long before my OTP expires?
Each OTP is valid for 2 minutes. After that, you’ll need to request a new one.
4. Liveness Check (Selfie Verification)
Q: Why do I need to take a selfie during onboarding?
We use a liveness check to confirm you’re the same person linked to your BVN or NIN photo record.
This helps prevent identity theft and ensures your account is secure.
Q: My selfie verification failed, what should I do?
Try again in a well-lit area, ensure your face is clearly visible, and keep the camera steady. The system will prompt you if anything needs to be adjusted.
5. Residential Address Verification
Q: Why do you need my address?
Your address helps us verify your identity and comply with financial regulations.
Q: What if I don’t want to share my location?
That’s okay. If you deny location access, we’ll use the address from your BVN/NIN records. You can also review and edit the address before saving.
Q: How is my address verified for Tier 3 accounts?
For Tier 3, you can verify your address using either of two options:
OkHi Verification (e-verification) - the system automatically verifies your live location.
Upload a Proof of Address - like an electricity bill, waste bill (not older than 3 months).
6. Password and Transaction PIN
Q: What are the password requirements?
Your password must have:
At least 8 characters
One uppercase letter
One number
One special character (like #, $, or @)
Q: How do I set up my Transaction PIN?
After creating your password, you’ll set up a 4-digit Transaction PIN.
Choose a PIN that’s easy for you to remember but not easily guessed (avoid using your date of birth).
7. VTag (Username)
Q: What is a VTag?
A VTag is your unique username that identifies you across the VFD Group ecosystem, for example, @Tobi123.
Q: Can I change my VTag?
Yes. You can edit your VTag during onboarding or later from your profile settings.
Q: What happens if my preferred VTag is already taken?
You’ll get suggestions like john_doe, john123, or john001 to choose from. Once confirmed, your VTag will be saved and unique to you.
8. Account Tiers and Upgrades
Q: What are the different VBank account tiers?
Q: How do I upgrade from Tier 1 to Tier 2?
Provide the second identification (BVN if you used NIN first, or NIN if you used BVN first). Once verified, your account upgrades automatically.
Q: How do I upgrade to Tier 3?
Go to Profile → Upgrade to Higher Limit, then verify your address via OkHi or upload a recent proof of address document.
9. Drop-offs and Session Recovery
Q: What happens if I exit the app before finishing onboarding?
Don’t worry, your progress is saved.
When you reopen the app and tap Sign Up, the system recognizes your previous identifier (BVN/NIN) and takes you back to where you stopped.
Q: Will I lose my data if I close the app mid-way?
No. Your data is securely saved, and you can pick up right from your last completed step.
10. General and Support
Q: How do I contact VBank for help during onboarding?
You can reach us through:
Live chat in the app
Email: support@vbank.ng
Call: 0700 8226 5226 or 0201 227 1705
Q: How will I know when my account is successfully created?
You’ll see a confirmation message:
“Congratulations! Your account number is [XXXXXXXXXX].”
You’ll also receive your account details via email.