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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
"As communicated earlier, please refrain from sharing your account details and your pin numbers with anyone and report all suspicious communication immediately on 17214433."
After initially lying, he admitted "targeting and stealing bank cards and PIN numbers from customers," said Mr King.
Mohammad said, for him, he always has to give out his PIN number but that's only because he has no other option.
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.
However, after sending the recharge coupon pin numbers, there will not be any communication.
Bank customers swipe their card, and then are asked for their PIN number. The machine does not take the card until transactions are completed, as is the case at many other machines.
Det Inspector Hughes added, "Make sure you shield the keypad with your free hand when you enter the pin number."
Any kid on the street knows that their mobile phone messages can be retrieved by anyone if they haven't set up a personal pin number, but not the royals.
* Keep your PIN number hidden when you use an ATM or public telephone;
By authenticating customers twice, first with a PIN number and then palm vein, the system can increase the level of security to prevent crimes such as unauthorized withdrawal and credit card skimming.
I wasn't asked to sign, I was asked to type in my pin number. Remembering one pin number for cash is one thing, asking me to remember more than one is an impossibility.
Never write your PIN number down or disclose it anyone else.