What is a 'Personal Identification Number - PIN'

A personal identification number (PIN) is a numerical code used in many electronic financial transactions. Personal identification numbers (PINs) are usually used in conjunction with usernames or other passwords. They are also usually required when using bank debit or credit cards, and most banks or financial institutions issue PINs separately from the cards through the mail.

BREAKING DOWN 'Personal Identification Number - PIN'

PINs usually contain four digits. Not all electronic transactions use this number, but cash withdrawals from ATMs invariably require this code. PINs should be known only to the users and never disclosed to anyone else.

RELATED TERMS
  1. PIN Cashing

    A type of fraud in which a stolen credit card or debit card is ...
  2. Bank Identification Number - BIN

    The first four to six digits of a credit card. The bank identification ...
  3. Chip-And-PIN Card

    A credit card that contains data embedded in a microchip and ...
  4. Issuer Identification Number (IIN)

    A numbering system that allows a credit, debit, or other card ...
  5. Standard Floor Limit

    The amount of money that can be charged in a transaction before ...
  6. Carding Forum

    A website dedicated to the sharing of stolen credit card numbers. ...
Related Articles
  1. Insights

    The Evolution Of Credit Card Security

    With the increase in credit and debit card fraud, these measures have been taken to ensure your financial security.
  2. Personal Finance

    Debit Cards: Why They're Not As Safe As You Think

    Ditching your credit card can be a smart move, but debit isn't yet an equal alternative.
  3. Personal Finance

    Should You Pay In Cash?

    Avoiding all forms of plastic payment can do wonders for your stress level and pocket book.
  4. Personal Finance

    Is Cash Or Credit Better For European Trips?

    If you're traveling to Europe, make sure you have a widely accepted credit card that uses chip technology. It doesn't hurt to have some cash, too.
  5. Personal Finance

    10 Reasons To Use Your Credit Card

    There are several benefits to paying with credit instead of debit, if you use a credit card responsibly.
  6. Personal Finance

    3 New Types Of Credit Cards To Look For

    These three types of credit cards are becoming popular with customers looking to pay less fees and build up their credit scores.
  7. Personal Finance

    How To Find The Right Prepaid Debit Card

    Prepaid debit cards are becoming increasingly popular. Here are some tips for choosing the right prepaid debit card.
  8. Personal Finance

    Best (And Worst) Ways To Change Money In Europe

    Which are the cheapest– and most costly – ways to exchange money when you're in Europe? See if you made the right choices on your last trip.
RELATED FAQS
  1. What are the differences between debit cards and credit cards?

    Learn how the major difference between a debit card and a credit card is where the money comes from when a customer makes ... Read Answer >>
  2. What happens when my bank account is debited?

    Understand the process that takes place when your account is debited. A debit to your account happens when you use funds ... Read Answer >>
  3. Are credit cards and debit cards considered debt instruments?

    Consumer debt instruments allow people to borrow money at specific interest rates. In recent years, the credit industry has ... Read Answer >>
  4. Does Walmart take international credit cards?

    Learn how to use your international credit cards at Walmart stores and on Walmart's site, and find out how to ensure your ... Read Answer >>
  5. How do NetSpend cards work?

    Learn how NetSpend prepaid debit cards work and if they are right for you. Protect yourself and your finances by understanding ... Read Answer >>
  6. How do I check the balance on my prepaid credit card?

    Check your prepaid credit card balance quickly using your phone or the Internet. Keeping track of your balance is easy and ... Read Answer >>
Trading Center