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What is a PIN?
A personal identification number (PIN for short, often referred to as ‘PIN number’) is a secure numeric or alphanumeric password used for authenticated access to a system. A unique PIN, usually consisting of four digits although six are common in some countries, is assigned to each card and only known to its owner. It can be used together with the corresponding card to confirm a payment at a POS or withdraw cash from an ATM. Like the PINs used with the SIM cards of mobile phones, it provides security when a card is lost or stolen. The probability of accurately guessing a PIN in three attempts is one in 3333.
PINs in online banking
A PIN is also usually required in online banking to access an account. A TAN is then required to execute a transaction.