BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

What is the name for the personalized password that each customer must enter before making ATM transactions?

A	EFT
B	PWD
C	PIN
D	PRT

Explanation:

Detailed explanation-1: -You get three chances to enter your PIN correctly – after that, your debit card will be locked. To unlock your PIN, you need to visit a cash machine. You also need to know the correct PIN.

Detailed explanation-2: -M-PIN or Mobile PIN is like a password and used for authenticating financial transactions.-User can generate One Time Password (OTP) which can be used for different transactions as a second factor of authentication.

Detailed explanation-3: -An Identity Protection PIN (IP PIN) is a six-digit number that prevents someone else from filing a tax return using your Social Security number or Individual Taxpayer Identification Number.

Detailed explanation-4: -A personal identification number (PIN) is a numerical code issued with a payment card that is required to be entered to complete various financial transactions.

There is 1 question to complete.