More than half of Canadians share their PIN with friends and family: poll

 

When we set up the pin on our debit and credit cards, the banks always tell us not to share it with anyone, but how many of us take that message seriously?

According to a recent poll, less than half. 

The RBC Fraud Prevention Poll found that 55 per cent of respondents share their banking pin and passwords with others. 

Additionally, 41 per cent of respondents admitted to doing one of the following things, which could compromise their security: 

  • Used the same phone unlock code as their bank PIN
  • Used their birthday as their bank PIN
  • Kept their PIN written down in their wallet
  • Used the last 4 digits of their phone number as their PIN
  • Used the word PASSWORD as a password for websites
  • Set their debit or credit card PIN to something easy like 1234 or 5555
  • Have written their PIN on their debit or credit card

“You should always protect your PIN and passwords and choose one that follows security best practices,” Jason Storsley, Vice-President of Fraud Management for RBC, said in a news release. 

“In the wrong hands, this information could be detrimental to your financial security. Think of it as leaving your house key in the lock, yet expecting that you are protected,” he continued. 

Additionally, in order to protect their account’s security, those who have a PIN (most of us) are strongly urged not to share it with anyone—even friends and family members, change it often, and contact their bank immediately if they believe it has been compromised. 

“RBC invests in emerging and new technologies and maintains rigorous security procedures to ensure our clients can enjoy doing business with us in a safe and secure environment,” Storsley said. 

“Billions of transactions take place safely each year and we believe that working together with our clients is the best way to safeguard against financial fraud,” he added. 

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