Personal identification number

(redirected from PIN numbers)
Also found in: Dictionary, Thesaurus, Encyclopedia.

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 ?
"During the last 24 hours a number of people in Bahrain have received fraudulent SMS about winning an NBB cash prize and requesting them to use their ATM cards with a special pin number," said the bank's advisory to its customers.
"It is important for people to be extremely careful when they are entering their pin number in public.
A MAN who was arrested for suspected drug offences in Warwickshire has been jailed - for refusing to tell the police the pin number to his iPhone.
When Bentley's bag was searched, they found one of the stolen cards with the PIN number written on the back.
He tricked her into handing over her card and PIN number, which was picked up shortly afterwards by a man claiming to be a courier and PS400 was later taken from her account.
These do not require PIN numbers or any additional information, ADNOC officials said.
One said: "I do look for bankcards and PIN numbers for bank cards you can take them straight to the cashpoint."
The Bank advised against entering PIN numbers while anyone is watching and to ask them to maintain distance while entering the number, in addition to writing down the number of the clients services number to report the loss of the card immediately, keeping the card somewhere other than a wallet, and keeping an eye on account statements and invoices.
The court heard how Miller had correctly guessed that the owner would use her date of birth as her pin number.
The banks said all their customers would have to change their PIN numbers before they could have access to their accounts through ATM machines.
A scam which encourages the public to use their PIN numbers in reverse has resurfaced again, the First National Bank (FNB), said this week.
However, after sending the recharge coupon pin numbers, there will not be any communication.