PIN explained - moneyland.ch

English

The acronym PIN stands for “personal identification number”. This is also commonly referred to as a “PIN code” or “PIN number”.

A PIN is comprised of numbers and, increasingly, also alphabetical characters.

In banking, PIN codes are used as authentication for online banking, mobile banking, at ATMs and at point-of-sale terminals.

The illegal practice of skimming involves criminals using various methods to steal PIN numbers.

Also take a look at the definition of: TAN

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Benjamin Manz is CEO of moneyland.ch and an independent expert on banking and finance.

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