UK credit card holders have ‘pin code overload’

Britons are struggling with the task of remembering multiple pin codes in an effort to avoid becoming the victims of fraud, it is claimed.

Research from Abbey Current Accounts has revealed that although the average Briton memorises two different pin codes in their head, almost two million face the task of remembering five or more pin numbers.

As a result, the survey found that 22 million debit and credit card holders had forgotten their pin while 16 million Britons said they have resorted to writing a pin number down.

Abbey head of banking Steve Shore was also concerned at the finding that 2.4 million cardholders keep their pin numbers written down with their card.

In addition to the fact that 5.7 million UK cardholders take further risks by using the same pin number for multiple debit and credit card accounts, Mr Shore said: “It’s like signing a blank cheque for fraudsters.”

“We really do urge you to try and commit them to memory than write them down … if your cards are lost or stolen, you must report this immediately,” he added.

Cardholder-not-present fraud costs the UK £212.6 million each year and is now the biggest category of plastic card deception, Personal Computer World reports.

© Adfero Ltd

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