Sunday, March 18, 2012

Multiple PIN for Debit Card

This post is thanks to one more mail in my Inbox for 'Enter your ATM PIN in reverse to alert police', which is a hoax and can't be implemented even if its kind of useful. But here is what Banks can do to provide a little more security, or say more flexibility via ATM card.

Account holders can have option of creating one or more 'partition' in their bank account. This partition is like sub-account to the main account. People can decide how much money they want to put in one or more such account partition. Each such partition will have a separate ATM-PIN.

Now partitions are protected by different PIN but the account is same and any of the partition can be used by the same and single ATM card. Depending on the password you enter or disclose to somebody, only one of the partition is compromised.

So if you are at knife edge, you can show the robber only few Rupees left in your 'account'. Or accidentally show to your boss to remind the pending appraisal !

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