More than of Canadians share banking PIN with close ones

Sharing PIN and password is equal to giving the house key to strangers

Canadians share banking PIN

More than of Canadians share banking PIN with close ones. Source: shutterstock.com

According to RBC research, 55% of Canadians share their banking PIN or passwords with friends and family. Regardless of serious implications if PIN or password is exposed, 41% of Canadians have done a range of compromising their security things.

For instance, a large number of people use their birthday as their bank PIN, whereas others keep their PIN written down in their wallets. Canadians set the last 4 digits of their phone number as their PIN, the research reveals. Along with that, Canadian customers use the word PASSWORD as a password for websites.

There are also users setting debit or credit card PIN to 1234 or 5555, whereas some of them are writing their PIN on debit or credit card.

You should always protect your PIN and passwords and choose one that follows security best practices. 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
Jason Storsley, Vice-President, Fraud Management, RBC

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