In order to strengthen our AML/CFT controls and protect your business, we are making changes to the virtual account creation process for all Flutterwave for Business customers. We’re making these changes to ensure that we continue to provide the best quality of service to you at all times.
The change to the virtual account creation process is effective 1st June 2021.
Here’s What’s Changed:
Bank Verification Number (BVN) will now be required for all new static virtual accounts
This means that the user’s Bank Verification Number (BVN) will now be required for all static virtual accounts created from Monday, 1st June 2021.
BVN now required for already existing static account numbers
You will also be required to add a BVN to an already existing static account number. Everything you need to do is in the documentation and you can learn to do it by following this link. We encourage you to review and implement.
Dynamic Account Numbers and Pay With Bank Transfer Account Numbers are unaffected
This change is not applicable to Dynamic accounts or merchants using Pay With Bank Transfer account numbers.
Thank you for trusting us on this journey as we continue to create endless possibilities for you. If you have any other questions, just let us know here, and we’d be happy to help.