A Transaction Personal Identification Number (T-PIN) is a unique numerical code used by some financial institutions to authenticate and authorize transactions conducted by their customers through various electronic channels. These channels may include online banking, mobile banking, phone banking, or Interactive Voice Response (IVR) systems. Get to know about what is TPIN in depth.
When a customer wishes to perform certain sensitive transactions, such as transferring funds, updating personal information, or conducting high-value transactions, the T-PIN is required as an additional layer of security. It adds an extra level of protection to prevent unauthorized access to the customer’s account and ensure the safety of their financial transactions.
The process of obtaining a T-PIN may vary depending on the bank or financial institution, but generally, customers need to request it from their bank. The bank will then provide the T-PIN, which is usually a numeric code with a specific length, through a secure communication method like SMS or mail.
It’s essential for customers to keep their T-PIN confidential and not share it with anyone. Memorizing the T-PIN or storing it securely helps ensure that it remains protected from unauthorized access.
T-PINs are just one of the various security measures that financial institutions use to safeguard their customers’ accounts and transactions in the digital era. Other security measures include two-factor authentication, one-time passwords (OTPs), and biometric authentication, among others.