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 ?
PC Neil Horner, from Coulby Newham Neighbourhood Team, said: "Typically, once people have shoulder surfed they have someone's pin number and they can then attempt to get their bank card in order to steal money.
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.
Currently, motorists who wish to pay for petrol using credit or debit card, must either give petrol station attendants their PIN number or exit their vehicles and enter the four-digit code themselves.
Martin Scott, head of Churchill Home Insurance, said: "In an increasingly digital world it can be difficult to keep track of all of the PIN numbers and passwords required to access our personal information.
Talat Hafiz, secretary-general of media and education for Saudi banks, said it was impossible for such fraudsters to encroach on the banking system unless account holders willingly reveal their secret passwords and pin numbers.
The scammers also watch the client to get their PIN number, and afterwards they duplicate the data stored in the original card on another card, allowing them to use it to access the client's account.
We do require customers to re-enter their pin numbers again when they complete additional transactions.
Lloyds TSB Middle East customers can change their PIN numbers at any Lloyds TSB ATM in Dubai.
It is the first time such a device, which can copy bank details and also video people entering their pin number, has been seized in Swansea.
A CASHPOINT machine has become the perfect target for card thieves - because a "security" mirror shows Midland customers typing in their pin numbers.
The police probe is focusing on two or three petrol stations in the county where it is understood customers have had their credit cards cloned and Pin numbers filmed.