What is NUIB? What is it for? What effect does it have on Mozambicans' bank accounts?

O que é o NUIB? Para que serve? Que efeitos tem nas contas bancárias dos moçambicanos?

Commercial banks are assigning new account codes to their customers. Some banks have already taken care of customer documentation for the assignment and others are requiring updated data for this. As a result, customers are obliged to go to the branches to arrange this.

But what is it? We're talking about the Unique Bank Identification Number (NUIB). Many citizens and customers still don't know what it's for and how it affects their bank accounts?

According to the regulations of the Bank of Mozambique, annexed to Notice No. 10/GBM/2021, of October 28, the NUIB "is the unique numerical identification assigned by the Bank of Mozambique to natural or legal persons for carrying out transactions, including foreign exchange transactions".

This means that any transaction (e.g. a deposit) in a holder's account will, as of June 1st, require the presentation of the NUIB. That's why, in recent weeks, banks have been sending their customers their NUIBs or asking them to update their details in order to assign them.

The NUIB is awarded only once and must be used by credit institutions or financial companies and individuals.

The NUIB has 15 digits, where: the first four (YYYY) correspond to the Ain of creation; followed by a number (T) that identifies the Tipo customer, followed by nine Nnumbers (N) that correspond to the sequence generated; and finally, it ends with the number (D) corresponding to the Dcheck digit. This results in the following NUIB structure: AAAATNNNNNNNNNND.

The NUIB is issued on presentation of an Identity Card (ID) and Unique Tax Identification Number (NUIT) or equivalent, for foreign citizens or non-residents. Financial and banking entities may, if necessary, request biometric information from individuals, and depending on the client's risk profile, other documentary information may be required.

NUIB holders can ask Banco de Moçambique for information on whether or not they have a NUIB in their favor.

In the regulation we have quoted, the Bank of Mozambique assures that "the information on natural and legal persons used to assign the NUIB is covered by banking secrecy, and should only be shared in the cases legally permitted for the confirmation of customer data in the context of the relationship with the credit institution or financial company".

In principle, Banco de Moçambique does not share NUIB data with third parties, except in legally established cases or by court decision; upon reasoned requests, data may be shared with entities subject to monitoring, but for this there must be a relationship between the client and the requesting entity.

It is the responsibility of credit institutions and financial companies to protect and guarantee the security of the customer's personal data identifiable through NUIB.

"The transfer of personal customer data from one computer file to another belonging to different servers or institutions is not permitted, except to Banco de Moçambique, by court decision or order or in other legally permitted cases," it reads.

Access to and consultation of the NUIB platform is free.

Grade: This text is based on the paragraphs of the articles of the Bank of Mozambique Regulation, which you can consult in full here here.

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