One of the worst places you can borrow money from is these loan apps organizations in Nigeria.
They will give you the money, but that might turn out to be your worst nightmare.
In this article, we’ll be looking at the topic of the day and which entails blocking BVN from a loan app.
But the question is, how possible is that?
I see lots of people ask how can i block my bvn from loan app? I’m here to explain that to you.
Let’s proceed.
Blocking bvn from loan app
Here’s the truth: you can’t block your BVN from any loan app company or organization.
It’s not just about loan app companies; you can’t block your BVN.
Bank Verification Number is not a bank account or a debit card that you can easily block. You cannot block your BVN.
That is the simple truth.
If you’re afraid that a third party has seen your BVN or any of these loan apps have your BVN and they might use it to steal your money, I’m telling you that’s not possible.
Someone cannot just use your BVN to steal the money in your bank account just like that.
Absolutely no way.
Most times when someone’s bank account gets hacked, it is because they gave a third party a code sent to their phone or clicked a link sent to their phone.
This is why banks will always advise you not to give any code sent to your phone to a third party, especially if you did not initiate the code.
In the case of these loan apps, you will see them threatening a debtor that they will expose their BVN or block their BVN.
Come on, it’s just a meaningless threat.
I want you to know that no loan app company or organization can block your BVN. That is not possible at all.
You bank verification number can only be blacklisted by banks if they deemed it to be fishy.
What you need to know
In Nigeria, you cannot obtain a loan from a bank, non-bank financial institution, loan apps, etc., without a BVN.
Bank Verification Number is very much mandatory to obtain a loan.
No BVN, no loan for you.
So, if what you are asking is how you can restrict or hide your BVN from these loan apps, I am telling you it is not possible.
Once you enter your BVN in their app, they have your BVN, especially the loan sharks.
Even if you proceed to remove your BVN or delete the app entirely from your phone, they will still have your details.
This is why I said you can only ignore them, especially if they become aggressive and abusive.
Dont Miss:
Don’t listen to loan apps companies
First, I don’t advise people to borrow money from loan apps due to the way they threatened and insult their debtors.
In the case of bank verification number, I see lots of them threatening to block a debtors bvn.
Whenever I see this, I just laugh.
I do not borrow money from loan apps, but I have seen quite a few people who have borrowed money from them and defaulted when it comes to repaying the money.
I see these loans apps haul insults and threats to their debtors, but the one that caught my attention is blocking a debtors bvn because it’s just funny though.
This is why I came up with this topic of how can i block my bvn from loan app and I want you to know that you cannot block your bvn from loan app.
Once they have your BVN, they have your BVN, and that’s it.
But that shouldn’t scare you at all because there’s absolutely nothing they will do with your BVN.
Why you should avoid loan apps
Honestly, I don’t see the need why you should borrow money from these loan apps especially with their uncivilized manner of approach when it comes to requesting funds from their debtors.
From what I have seen, these are the reasons why you shouldn’t borrow money from loan apps:
- They are uncivilised.
- Their apps will have full access to your phone, especially your phone contacts.
- You will be exposed to your contacts if you default.
- They threatened and hurled insults at their debtors.
As I mentioned earlier, loan apps can be your worst nightmare. If you default, you will realize that you are dealing with uncivilized people.
I hesitate to even call them a company or organization because most of them are not registered or do not have a physical office and address.
You may see them list an address, but if you go check it, you will find out that it is fake.
One major reason why I would advise staying clear of loan apps is because they will have full access to your phone.
There’s nothing like Privacy.
Why would you want to do something with an app that will have full access to your phone and contacts, even without you giving permission for that?
In a developed country, the loan app will be sued for breach of trust.
Without my consent or permission you have full access to my phone contacts, that’s very wrong.
This is the main reason why I advise people not to bother downloading these loan apps onto their mobile phones.
Once they have full access to your contacts, they will copy the whole contacts on your phone.
Here’s the worst part;
Once you defaulted, these loan apps will start sending unsolicited text messages to your contacts.
Especially on WhatsApp.
With your picture or probably your ID, you will be tagged as a debtor, and this will be sent to many of your WhatsApp contacts.
Don’t you ever use your WhatsApp number for these loan apps.
Aside from this, they will begin calling you, hurling insults and threats. It will worsen, as they will begin calling your contacts and threatening the debtor.
Like seriously I ask myself this question;
Why should I download an app that will have access to my contacts without my permission or consent?
I can’t just do that, even if I’m desperate.
That alone looks highly suspicious and uncivilized.
Seriously, it is better to be hungry than to borrow money from these loan apps unless you are sure you will pay back before the due date.
For me, never, never borrow money or download an app that will steal my contacts.
No way.
How do I remove my BVN from a loan app? You cannot remove your BVN from loan apps, they are the ones to remove your BVN.
However, I will advise you to delete your account if possible and afterward delete the app from your phone to have your sanity because these loan apps can make someone go insane.
And that’s all I have to explain in this article of blocking bvn from loan apps. It’s quite unfortunate that you can’t block your bvn from loans apps.
All you have to do is to delete your account if possible and delete the app as well.
Don’t go about thinking about the BVN you have already given them. I’m telling you that it shouldn’t bother you because they won’t do anything to it.
If you have any questions regarding this topic of how I can block my BVN from a loan app or the loan app itself, I welcome your comments.
I understand that they cannot block ones BVN but can they deduct money from one’s bank? And if they can, how can one go about blocking them from being able to do so??
Yes of course, the likes of FairMoney will surely deduct money from your account. The only solution is to block and remove your debit card, or freeze your bank account.
Freezing a bank account will only restrict debit transactions but allow credit transactions.
Thanks so much for dis article
but my question is can there trace someone using the address on the BVN?
You mean if the loan app can trace you via your bvn?
I dont think loan apps can do that. But banks can easily do that, theybonly thing the loan app will do is to report your bvn to credit union.
With this, you can’t borrow money from banks and non-bank financial institutions.
I mean registered loan applications and not loan sharks.
can late payment or overdue payment cause a visa to be denied by the embassy if your credit score is low?
Credit score for visa?
I haven’t seen that happen. But please, try to repay your loan.
easy buy is a loan mess ma, they were used by the devil to destroy their own reputation and not me, I came here reading helpful tips, God bless you ma, ma can you imagine this @Easybuy thieves approved a loan for me without my consent? by 50k for just four weeks with 71k .I have paid for three weeks Making sure my 50k is complete. I am not going to pay any dime to them again. I don’t even have any in sight
They approved a loan without your consent?
How possible is that?
As long as there’s no transparency in dealings, don’t stress yourself.
If you linked your debit card to the app, please block the debit card and request a new card.
As long as you have repaid the loan, do not stress yourself or get a headache because of them. Just move on with your life.
In this type of situation, I will not pay them a dime if I did not request such services from them.
good day ma,am released reading your article,am a victim of online loan sharks and couldnt pay in time,have been thretned that they have my bvn and will debit money from my account withoit me know and iremember when they asked me to link my debit card,o did not do it before they gave me loan,reaching payment i paid half before the dye date,only to get to the due date was unable to pay,they threaten to debit money from my account using my bvn,its well
They cannot debit your account via your BVN.
If you linked your debit card to the loan app, kindly block the debit card and request a new one.
All these loan apps can only bark, but they won’t bite. However, please repay your loan if you owe them
Good day ma.
I’m a victim of one of these loan sharks. I applied for #146,000 and #326,000 was disbursed which made my bank to freeze my account as it was beyond the limit. It happened on Friday and on Monday when my account was unfreezed, I returned their #326,000 sent to me. I emailed them. But they were telling me to repay their interest of what I did not enjoy.
Pls, how do I go about this?
You applied for N146k and N326k was given to you?
Typical loan shark.
Please don’t worry yourself about this issue because this was not the agreement.
They expect you to pay interest for the N326k, which was not the agreement? Very laughable indeed.
Since you have repaid the N326k that was given to you, just move on with your life.
Hope they didn’t have access to your contacts because the worst thing they could do is start their usual harassment.
Good afternoon ma, I’m very delighted with this article but my question is how can i block this people from accessing my contact again if possible ma ?
Simply restrict all permissions for the app. This feature is available on Android and iOS.
Good afternoon ma read your article gave me some peace. I borrowed money for palm credit and plenty cash to enable me pay my school fees cause I was in final year, I had intentions to pay back but things didn’t work out the small money I’m gathering for my project palm credit debited me this morning from my bank though my card is linked to it. am at the verge of commiting suicide they already sent text to some of my contacts at this moment I don’t know what to do
Palm Credit is a well-known loan shark app that should be avoided unless you don’t mind its aggressive approach when it comes to loan repayment.
Get your mind off that suicidal thought Please, doesn’t worth it.
What you need to do is to block your debit card and request a new one.
Again, do not give these loan apps permission to access your contacts; this is available on both Android and iOS.
Lastly, notify your contacts to ignore messages or calls from any loan apps; it can be quite painful, but that’s all you have to do.
When you have the funds, please repay the loan.
Thanks for your peaceful article ma,
I run out of funds for my project and some other needs…
Which lead me 225k towards easimoney loan app
Which I wasn’t able to pay on a due date due to their devil interest
And I’m having my visa interview coming up soon..
Hope it’s won’t affect me on it….Ma?
No, I don’t think it will affect your visa interview.
You’re scared they will report your bvn?
If it’s all those banks or big financial institutions, I will be like “Hmmm” go repay your loan because you can’t get away with it.”
For loan apps, they won’t unless they are fully registered with the CBN.
But all the same, I believe it will not affect your visa interview.
I am really at peace of ma. Today i think i can breath well for this information. i applied for a loan of 40k from frimoni and what i recieved in my account was 35k and i was ask to payback 50k in less than a month. I reach out to them that the money sent is not complete and also the loan interest is high. They told me that there is nothing they can do about it . for me, i told them I won’t pay them until they send me the balance.
Thanks for your peaceful article ma,
I run out of funds for my project and some other needs…
Which lead me 225k towards easimoney loan app
Which I wasn’t able to pay on a due date due to their devil interest
And I’m having my visa interview coming up soon..
Hope it’s won’t affect me on it…..
And hope it won’t shown up a defaults on my bank statements….Ma?
Bank statement is different from credit report.
This will not affect your visa interview unless you borrowed the money from your bank.
Oh thank you so much with your response Ma….
good afternoon ma, as a result of some financial issues I borrowed from okash and I’m yet to repay, and according to the agreement form they said they will deduct from my bank account which I linked to the app via my bvn.
please ma I don’t have the means to repay yet, how can I stop them from deducting from my account as I didn’t link any ATM card.
thank you ma
This is all I have been seeing in this comment section, and it looks like this is now the norm in Nigeria: people borrowing money when they know they will not be able to repay their loans.
Because these loan apps don’t request for a collateral.
Just block debit transactions from your bank account. This will also affect you, in terms of cash withdrawals, transfers, and other debit transactions.