Millions of Britons suffer from pin code overload

Millions of Britons are suffering from PIN code overload according to the latest research from Abbey Current Accounts. Indeed the average Brit carries around at least two different credit or debit card PIN codes in their head. But six million people carry around three, three million retain four and almost two million of us set ourselves the task of remembering five or more PIN codes.

Not surprisingly with all those numbers swimming around in our heads, 22 million credit and debit card owners (55 per cent) admit that they’ve forgotten their PIN recently. 16 million (39 per cent) also admit that they’ve written their PIN numbers down on a piece of paper to help remember them.

Worryingly, 2.4 million of us keep that piece of paper alongside their credit and debit cards in their wallet. And while 9.4 million people said they’d disguised their PIN (for example as a phone number), 1.6 million had taken no steps whatsoever to disguise theirs. Four million others said that they have saved their number somewhere inside their mobile phone.

5.7 million people avoid PIN code overload entirely by using the one number for all their cards. However, should your wallet fall into the wrong hands, especially if you are one of the 2.4 million who keep your number written down with it, this increases the risk of fraud as fraudsters can access all of your accounts.

Steve Shore, Head of Banking, Abbey, said: “With many of us holding more and more pieces of plastic in our wallets the challenge of remembering all those PIN codes is getting greater. But we really do urge you to try and commit them to memory rather than write them down. Otherwise it’s like signing a blank cheque for fraudsters. Also, remember that if your cards are lost or stolen, you must report this immediately.”