‘Pin code overload puts money at risk’

Figures from Abbey show that around 2.4 million Britons have so many pin codes to remember that they often write them down and to be left in a wallet along with the relevant credit or debit card.

And with millions of UK consumers already dealing with debt management issues, these card users are running the risk of making their financial matters worse by giving would-be fraudsters an easy way to steal their money.

“With many of us holding more and more pieces of plastic in our wallets the challenge of remembering all those pin codes is getting greater,” said Abbey’s head of banking Steve Shore.

“But we really do urge you to try and commit them to memory rather than write them down. Otherwise it’s like signing a blank cheque for fraudsters.”

The overall personal debt management mountain in the UK is worth more than £1,335 billion, according to figures form Credit Action.