What is a NUBAN?
You know how countries issue unique numbers to individuals as a form of identification? Banks also issue the same to customers. And that is in the form of a NUBAN.
Key takeaways:
- A NUBAN (Nigeria Uniform Bank Account Number) is a standardized 10-digit code that uniquely identifies your bank account in Nigeria.
- It was introduced by the Central Bank of Nigeria to bring uniformity and improve accuracy in financial transactions.
- To get a NUBAN, open a bank account in Nigeria. Each bank account comes with a unique NUBAN.
The Central Bank of Nigeria (CBN) first issued its guidelines for the NUBAN scheme in August 2010. At the time, this scheme only concerned Deposit Money Banks, otherwise known as DMBs. However, the apex bank has since expanded the NUBAN scheme to cover the operation of other financial institutions (OFIs).
The NUBAN scheme outlines a format for structuring Nigerian bank account numbers. Financial institutions existing and operating within Nigeria are obligated to follow this scheme in generating account numbers for their customers.
By doing so, it becomes easier to identify a bank account number as originating from a local bank or belonging to a Nigerian citizen or resident. These bank account numbers themselves are known as NUBAN.
Meaning of NUBAN and How It Works
NUBAN is an acronym for Nigeria Uniform Bank Account Number. As the name implies, the identification system helps achieve uniformity in customers’ bank account numbers.
NUBAN acts as a pointer that tells the sender or initiator of a fund transfer what bank they are interacting with.
Once a transfer has been initiated, the sender’s NUBAN and the receiver’s NUBAN are collected.
Both information give a hint to financial institutions responsible for processing funds transfers. This tells them the exact banks operating the sending and receiving accounts.
The receiving bank also makes use of both NUBAN information. First, the sender’s NUBAN informs them of the bank from which the funds transfer originated. The number also gives precise information on the individual behind the transfer.
On its end, the receiving bank uses the recipient’s NUBAN to determine whose account to credit.
How To Get NUBAN from a Bank
There’s only one way to get a NUBAN number. That is by opening an account with any bank in Nigeria. First-time account owners will have their NUBAN generated by the new bank. This serves as an access and identifier to/for their accounts.
It is worth noting that a customer can have as many NUBAN as possible.
Each NUBAN represents a bank account operated by a specific bank, but owned by the customer in question. Since one individual can patronize multiple banks, it is also possible for them to have several NUBANs.
To get your NUBAN:
Walk into any bank of your choice
Request for the Customer Support Counter
Notify the Customer Support staff that you would like to open an account
Correctly answer the staff’s questions
Correctly fill out any forms issued by the staff
Submit the form, along with any supporting document required
Wait for your account to be created and a corresponding NUBAN issued
Your NUBAN will be sent to the phone number or email address supplied in your account opening form. This makes it important that you submit accurate information to the bank.
How To Check Your NUBAN
Account owners can check their NUBAN in several ways.
Dial Bank-Supplied NUBAN USSD Code:
We’re all probably familiar with Quick Codes, Feature Codes, or “USSD” codes as they are often called. These codes are implemented by telecommunication companies for use by network users.
USSD codes serve the single purpose of enabling network users to interact with certain applications.
Banks - in particular - employ a number of these codes. Each of them allows customers to request and access specific information. An example is the NUBAN USSD code.
Bank customers will use the NUBAN USSD code to check and confirm their NUBAN.
Call Your Account Manager:
A bank account manager is a bank staff assigned to a specific customer(s). They are responsible for helping the customer enjoy a positive experience while using the bank’s services. This will include providing NUBAN information at a customer’s request.
Additionally, bank account managers will offer detailed explanations of a bank’s products and services. They will further also guide customers in initiating banking or financial processes. They will also offer other forms of support, including providing a NUBAN at request.
At Your Local Bank Branch:
The first and most obvious way to check your NUBAN is by asking at your local bank branch. This works for people who require a proper/detailed explanation. For example, those who are confused about what a NUBAN is. Customers who also want to know when and where a NUBAN may be required or used can visit their banks.
You must be sure to make your enquiry at a bank you patronise. Checking your NUBAN in a bank where you are not an account holder would not yield any results.
How To Check If a NUBAN Is Correct
NUBAN Validation Tool
A NUBAN validation tool is a digital software which customers can use to confirm if a particular NUBAN is valid. These software are available on the internet and they are often freely accessible. Users have to type in their NUBAN and click on a “confirm” or “verify” button to validate the NUBAN.
As with any online software, caution is advised in the use of NUBAN validation tools.
Is NUBAN The Same as an Account Number?
The Nigeria Uniform Bank Account Number (NUBAN) is the same as a bank account number. It is safe to say that the former is simply a technical word for the latter.
Final Word
A NUBAN is in some way your banking identity. The 10-digit number is associated with your bank-operated account. This, in turn, is linked to your details such as citizenship and date of birth. It is crucial that you keep this information safe and only use it for trusted transactions.