A Personal Identification Number (PIN) is a four-digit code that is assigned to each ATM card and serves as a crucial security feature in ensuring that only authorized users or account holders can conduct transactions. Without activating the PIN, the ATM card cannot be used for any transaction. However, it is recommended that you change your ATM PIN periodically – every 3-6 months or, at a minimum, once a year – to enhance the security of your bank account and protect yourself from fraudulent ATM or online transactions. By doing so, you add an extra layer of protection to your financial assets and safeguard yourself against any unauthorized access or theft. It is important to remember that you should never share your PIN with anyone, including family members or friends, to maintain the utmost security of your account.
How to get a PIN?
When an individual opens a new bank account, the bank provides a temporary PIN code that enables them to access their ATM account. However, for security purposes, it is recommended to change the temporary PIN to a new one as soon as possible. One can generate a new PIN through different ways as explained below:
Paper-mailed Temporary ATM PIN Banks send the temporary ATM PIN to the account holders via paper mail, which is enclosed in an envelope. After receiving it, one should change it as soon as possible to enhance security. To do this, the temporary PIN can be used to log in to the ATM, and the instructions displayed on the screen should be followed to generate a new PIN.
Green PIN sent via SMS To reduce environmental waste and enhance security, banks now send Green PINs via SMS instead of paper mailers. When requesting to change the PIN at an ATM, the temporary PIN is sent to the registered mobile number. The Green PIN is then used to create a new PIN by visiting the nearest ATM and following the prompts.
ATM PIN received through SMS Similar to the Green PIN method, an individual can generate an ATM card PIN through an OTP sent via SMS. By sending an SMS from their registered mobile number to a specified number provided by the bank, they can receive an OTP that is valid for a few hours/days. The OTP is used to log in to the ATM and generate a new PIN.
Internet Banking The net banking portal provides the option to change/reset/generate PIN for the ATM card. To generate a new PIN, one has to enter the existing PIN and follow the instructions on the screen to set a new PIN. In some cases, security questions may be asked, and an OTP may be sent to the registered mobile number to ensure that the process is secure.
In conclusion, it is highly recommended to change the PIN provided by the bank as soon as possible for enhanced security. It is also essential to keep the PIN confidential and not share it with anyone to safeguard the account from unauthorized access.