What Is a PIN and How Does It Work?

In the process of securing your finances? You’ll need to start by opening up a bank account. Once that’s done, you’ll receive a debit card, which allows you to access your money instantly via ATMs and to make in-store purchases. The first thing you’ll be asked to do when you set up a credit or debit card is to choose a PIN (Personal Identification Number). This security code is a unique number used to verify your identity so you can withdraw cash, purchase goods and services in stores, and even send funds abroad. 

Your debit card PIN consists of four numbers that are usually assigned by the bank and activated immediately at the time the card is issued. Depending on the bank's security and authentication system, a PIN can be up to six digits long. Read on to learn the benefits of having a debit card PIN.

Requirements for Obtaining a PIN

To obtain the PIN, all you need is to open a bank account. Once you provide the necessary documentation, you’ll be assigned an account number and issued a debit card. To complete the process of obtaining your PIN, you’ll need to take the following steps:

  • Check your email to see if a PIN was created when you received your card. 
  • If you received an email, request your PIN through the financial institution's website. Some banks may require you to answer security questions to confirm your identity and then send the PIN via email.
  • If you’re unable to do this online, you can call your bank’s customer service line. You will likely be assigned a temporary PIN that will then have to be changed in-person at an ATM.

Keep in mind: Phone requests made to obtain PIN codes typically apply to credit cards. Generally, before a new debit card can be used, you’re required to choose a PIN right away. 

Benefits of Having a Credit Card with a PIN

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Using a credit card with a PIN code has many benefits. It provides you better access to funds immediately through cash advances and also enables you to purchase goods and services from international stores. A credit card with a PIN also allows you to support your family back home by sending money via remittances or transfer.

A credit card is an important tool to build your credit in the United States and reach financial stability.  Don’t miss out on the chance to apply for one! Banks are much more selective when issuing credit cards. To qualify for one and access its benefits, you’ll need to complete a more thorough process.

Let's take a closer look at the benefits of having a credit card: 

Cash advances

A cash advance is when you withdraw money using your credit card account. This operation provides easy access to your funds in case you need to make cash payments or send money overseas. The total available amount is determined by your bank and linked to your card limit. 

Note that this transaction comes with costly fees. It does, however, come in handy in case of an emergency or a situation where cash payment is the only option. You’ll need to have activated your credit card PIN beforehand so you can make a cash withdrawal at an ATM. 

Making purchases abroad

Many countries require a credit card PIN to make purchases to prevent fraud or illicit transactions. Buying items or paying for services while abroad is infinitely easier when you have a card with an active PIN. It also allows you to have access to funds in case of an emergency or unforeseen event.

Getting Your Card’s PIN Is Quick and Easy! 

Obtaining your card's PIN is a quick and easy process. There’s no need to wait! Follow our tips to help you complete this important step on your financial journey.

Remember, SABEResPODER is proud to offer the PODERcard, an accessible and secure way for you to manage your finances. PODERcard allows you to receive payments quickly and gives you access to more than 19,000 ATMs in the network at no extra cost.