How to Block Loan From Accessing Your Bank Account and Withdrawing Money


Can loan Apps block my bank account or BVN? This was the question I receive from someone who got depressed from loan app calling her contacts just because she default in payment only for two days. This is very bad and I also decided to use this medium to educate people especially defaulters on what to do and how to go about their life Incase loan app mess things up for them. 

The fact is that when it comes to loan, people can default but you calling friends and relatives that someone owe you isn’t the right way to retrieve your money despite the fact that you have no collateral. 

I heard someone call me from Lcredit that they have blocked a user bank account as well as her BVN that if such person don’t pay before 4pm. Couple with the fact that there are many kind of harassment on people by this loan app with different threat of blocking BVN.

The fact is that the Government made it known to people that some of these apps aren’t even registered that some of them are operating illegally under the influence of internet and Google play download. As I am writing this, I saw so many people talking about their harassment from loan app through hashtag like #banonlineloanapp or say no to Sokoloan and many more. 


Now back to the question, can loan app access your bank account, block your bank account and withdraw money from it? 

Yes it is very possible for loan app to access your account, withdraw money from your account but can block your bank account or BVN. I have seen situation where money enters an account and it get deducted immediately. This can happen and money can be deducted illegally because you have granted them permission to do so as at the time of registration.

Not only that, loan Apps can’t block your account or BVN but can deduct your money at anytime because as at when you receive your first loan from them, you input your card details like card pin, card number, cvv and transacting pin. This makes it possible to withdraw your money at anytime they feel like. 

Someone even said he’s not owing any loan app but he saw debit alert from one of the online loan app deduct almost 5k from his account. He complain to the customer care but nothing happen because they don’t even have a physical office. Some loan Apps like Gocash will tell you to seek more loan and the money be returned back to you after expiration and till now, no money was refunded. 


It shows clearly that online loan Apps can withdraw money from your account but can’t block the account. The highest they can do is to report you to credit bureau which may reduce your credit score but not always. If you have borrow money in the time past or you still have a pending loan with these loan Apps, do the following:

1. Change account password: If you have issues with loan Apps probably you default in loan payment, they will access your bank account and withdraw your money. Inorder to prevent that you need to change your card password as soon as possible. 

This you can do through your app which is very easy, through ussd or go to the nearest atm center to that do. If you change your card password the safer and better is become. Go through your bank app menu and you will see change password there.

2. Change card: In some situation, you need to change the card entirely if you owe so many online loan app and couldn’t pay back. I have seen some loan Apps like Lcredit use deduct money through powerful software that can withdraw money from any account even if you change your password but they won’t have access if you change the card. Card renewal is just 1k and this one thousand will save you a lot of stress and unauthorized withdrawal.

3. Change transaction pin: Inorder not to fall for illegal deduction or withdrawals from your account, you need to change your transaction pin of your card so that you don’t fall victim of unauthorized deduction. 

It’s also very easy to change the transaction pin of your card because of these loan app access on your card. You can be charged or overcharged for this without payback and it can be very painful.

4. Move on: After changing your account password, changing your transaction pin and change of card, the next thing to do is to move on with your business and find a way of paying back your loan. 

But if any loan app defame you or call your contacts that you owe them, then you need to judge that yourself but for other, no payment for them no matter how small.

These are the things you can do to block these loan app from accessing your account or withdrawing money from your account. You may not need to change your bank account because of these but you need to change your password, transaction pin or change the whole card. 

Do these and you will be free from illegal deductions and unwanted issues regarding your card. There is something that usually happen,  this time it’s unnecessary deduction even you are not owing. This shows the extent at which most of these loan Apps are scam and keep scamming people. 


2 thoughts on “How to Block Loan From Accessing Your Bank Account and Withdrawing Money”

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  2. Thanks I just did. These loan apps are on my neck and their harassment is too much. I'm happy some have been delisted on playstore

  3. Someone called from Sokoloan telling me he has blocked my BVN and shutdown my account. I laughed because I know he can't do nothing. Don't be scared of these loan Apps, block them and forget about

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