A Personal Identification Number (PIN) is a unique numeric personal code or password which is often linked with financial accounts. Banks and credit card companies use PIN numbers to secure financial information, but they can also be found linked with student loans, utility accounts, and other secured systems. A PIN usually has four digits which are known only to the account holder. When the account holder wishes to access information, he or she can enter the PIN along with another form of identifying information such as a password, account card, or name.

Most consumers are familiar with PINs because they are used to access Automatic Teller Machines (ATMs). A client inserts a bank card into an ATM, enters the PIN when prompted, and then makes any account changes, deposits, or withdrawals necessary. By linking the bank card with a PIN, the bank secures the information it contains if the bank card is lost or stolen. Most banks automatically assign PINs to their customers, although a PIN number can also be manually set.

A PIN number is highly useful for gaining quick access to secure information. Assuming a consumer keeps a PIN private, the number can be used to pay bills, check account balances, transfer funds, or perform a variety of other account transactions. Having a PIN also means that the client does not have to use his or her Social Security Number as an means of identification. Since identity theft is a concern for many people, this alleviates a number of fears.

If a pin is randomly assigned to you, memorize it and shred the slip with your PIN on it. If you are concerned about forgetting your PIN or you want people to have access to it in an emergency, you could store it in a secure area like a safe or deposit box along with other vital information. Under no circumstances should you carry your PIN number with other account information, in case your wallet is ever lost or stolen.

When selecting your own pin, try to pick a random number. Do not use your phone number, part of a government assigned identification number, or any other familiar number. Avoid patterns such as 5445 or 1234, because they are easier to guess than random number sequences. If you are having difficulty, use a random number generator to create your PIN, and remember to keep it in a secure place if you need to write it down.