Personal identification number

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Personal Identification Number

Commonly called a PIN. A password that a person uses to access an ATM with one's debit card, though they are increasingly being used for all debit card transactions. A PIN protects the person who owns the card from identity theft as well as the risk that a thief can steal the card and then use it without limit. Assuming the PIN is randomly generated when the card is issued and the potential thief has no other information, the thief has approximately a 0.06% chance of guessing the PIN when using the card. It was invented by James Goodfellow, who was also instrumental in developing the ATM itself.

Personal identification number (PIN).

A personal identification number is a combination of numbers, letters, or both that you use to access your checking and savings accounts, credit card accounts, or investment accounts electronically.

You also need a PIN to authorize certain debit card purchases as well as for identification in other situations, such as accessing cell phone messages.

A PIN is one way to help protect your accounts against unauthorized use since presumably no other person would know the four- to six-letter code you have chosen. PINs are not foolproof, however, if you don't take steps to ensure that your code remains private.

References in periodicals archive ?
After initially lying, he admitted "targeting and stealing bank cards and PIN numbers from customers," said Mr King.
We agree that PIN numbers must be entered by card holder themselves in order to maintain one's privacy and security.
It also recommended that the original envelope containing the PIN number issued with the card not be kept in the same place as the card, and instructed not to swipe the card in any unknown devices attacked to ATMs and never give the card and the PIN number to anyone, regardless who they are.
It is always a good idea to be vigilant of your surroundings and protect your pin number.
Another part of the device contains a pinhole camera which records people entering their pin numbers.
She added: "People should be aware that when using ATMs, they should cover their hand so that no-one can see them putting in their pin number.
But a spokesman for the Association of Payment Clearing Services, which is responsible for Chip and Pin, said: 'Chip and Pin is not going to disadvantage anyone - it's giving them another option, as some people who can't sign find they can use a Pin number.
Keep your PIN number hidden when you use an ATM or public telephone;
And shock turned to dismay when Abbey National told him because he had his PIN number in his wallet, he is liable for the debt.
Remembering one pin number for cash is one thing, asking me to remember more than one is an impossibility.
The thieves work in small groups and single out customers at bank machines where they 'shoulder surf' card users as they key in their four digit pin number.
He somehow got both the ATM card and the four-digit pin number for accounts, mostly at credit unions, Williams said.