The technology of money transfer and banking through electronic gadgets requires a PIN for authentication. If you are using your bank’s official application for the civil banking task, the MPIN would be borrowed for the authentication. But, the MPIN is different from the UPI PIN which is utilized in UPI Fund Transfer.
Presume, You wish to check the statement of your concerned Bank Account. You can perform this using the official bank App. But to utilize this app, you have to type the MPIN number. In this application, your ATM PIN or UPI PIN wouldn’t work. MPIN is only required if you use the NEFT, IMPS, or RTGS policy for the fund transfer through your phone.
|What Is MPIN Number, Generate MPIN For Your Bank Account||Discussion|
|A few facts on MPIN||There are a few civil concerns about the MPIN. Like, what is MPIN, how can a person generate it and what is the purpose of it, etc.|
|How to generate MPIN?||Generate mobile banking using 3 ways that include doing it at the bank, ATM or online|
|What is the MPIN number?||You can set your MPIN utilizing UPI app and USSD banking. This service is favorable to the registered mobile number with the banks|
|How to generate MPIN Numbers?||It will require steps like visiting the MPIN link, typing account number and setting the OTP|
|What if you forgot your MPIN||You can reactivate it utilizing net banking, mobile application, or ATM. The procedure for generating the MPIN utilizing net banking is different in all the banks.|
1#) A few facts on MPIN:
There are a few common concerns about the MPIN. Like, what is MPIN, how can a person generate it and what is the purpose of it? To get the answers to all these questions, keep reading the blog.
1. About MPIN:
The MPIN full form is the Mobile banking Personal Identification number. It functions more like a password when you conduct trade using a mobile. It is a four-digit or six-digits number depending on some banks, and a secret code related to the ATM PIN.
MPIN is unique from the ATM PIN. It is utilized only when we transact through our mobile phones. For your reminder, it is a delicate code. You should protect it as a secret. Don’t write it down casually, banks provide this code to their customers when they enlist for mobile banking. As you may already know that registration is compelled for utilizing the mobile banking facility.
2. The requirement of MPIN:
The RBI has demanded a two-way authentication for banking commerce. It implies a person has to generate two personal information or tools for the authorization. For instance, you need a Debit Card and a PIN for a transaction inside an ATM. But, for UPI Payments, you require the registered mobile and UPI PIN. Likewise, mobile banking required 2-way authentication.
In mobile banking, the initial authentication will be your mobile number. That’s the reason you can do mobile banking only through the registered mobile number.
The next authentication will be your MPIN. You have to learn and remember it and only you should know it. It makes your mobile transaction safe. If there’s not an MPIN set in your device, anyone can do the mobile transaction utilizing your lost mobile.
You may be thinking that ATM PIN could also be utilized as the MPIN. Nevertheless, RBI doesn’t expect to uncover the ATM pin. Furthermore, several PINs would keep both the services autonomous and secure.
3. Usage of MPIN:
As mentioned earlier, MPIN is only used in mobile banking. Let’s elaborate on it more. The following are the services where MPIN is utilized for authentication.
- Mobile Banking App – Such as banks including SBI YONO, HDFC Bank Mobile Banking, etc
- SMS banking – You can perform some transactions through the SMS as well. This technique of the transaction similarly compels MPIN. Still, this method is no more common.
- IMPS/NEFT/ RTGS – These are a few fund transfer procedures other than the UPI. If you employ these methods through mobile banking, you have to enter the MPIN instead of the commerce password.
- IVR – You can conduct some of the banking acts through the IVR or Interactive Voice Response. In this technique, you pursue the instruction of a recorded voice to do the banking. This method instructs you on the last transaction, bank balance, and mini statements as well. But this too obliges MPIN for the authentication.
Still, most of the time, you have to utilize MPIN while disseminating the fund through mobile applications.
4. How to get MPIN:
The MPIN is an essential element for mobile banking that is why it is given along with mobile banking gear. When you unlock a savings account and ask for mobile banking, the banks provide you with a welcome kit. This welcome kit similarly includes the mobile banking user ID and MPIN. But if you are a former account holder and did not assign for mobile banking then you have to apply for it.
2#) How to generate MPIN?
You can generate mobile banking using 3 ways. You would further get the mpin number through these ways.
- At the Branch- It is an easy process. All you have to do is visit your branch and apply for mobile banking. The bank would provide you with a mobile banking activation form. Fill that and submit the form. Most of these banks provide the mobile banking user ID and PIN the same day. The activation of mobile banking may take two days.
- At The ATM- You can similarly use the ATM to generate mobile banking. The MPIN can be also developed through the ATM. But to do that, you have to visit the ATM of your bank.
Go inside the ATM and inject the Debit card. Select the mobile banking option. If you can’t see this option, select the other services. Then, in the mobile banking menu, you would notice the option for mobile banking enrollment. There may be choices for the MPIN generation as well. Note down the MPIN would be sent to your registered mobile number. You wouldn’t see it on the display.
- Online- Some other banks offer the option to activate mobile banking online for instance ICICI Bank. But a few banks do not allow this option, for example, the SBI.
When you finally log in to your internet banking services, you would see the menu for online services. Among the assistance, there would be a service of mobile banking. Pick that option to generate mobile banking or activate the new MPIN.
3#) What is the MPIN number?
You can set your MPIN utilizing UPI applications and USSD banking. This service is acceptable to the enrolled mobile number with the banks. It is not accessible for customers whose mobile number is not registered for mobile banking to their concerned banks.
If your mobile number is not enrolled in your bank account, then do not bother. Call or visit the nearest bank branch & ATM, and you can enroll your number and utilize this service on your mobile device.
4#) How to generate MPIN Numbers?
- Visit the MPIN generation link.
- Type your account number.
- Enter the OTP that will be sent on your mobile number which is registered with this account.
- Enter One Time Password carefully and set your four-digit MPIN.
- Assess the transaction utilizing grid card values as suggested.
5#) What if you forgot your MPIN:
Well, You do not need to feel worried if you ever forgot your MPIN. You can generate a new MPIN anytime using a few steps. You can develop it utilizing net banking, mobile application, or ATM. The procedure for generating the MPIN utilizing net banking is different in all the banks. Yet, the process is however similar to USSD banking and UPI apps.
All the mobile applications of the banks provide you with the option to shift or reset the MPIN. To Reset the MPIN, all you have to do is enter your debit card details.
In this blog, we have told you all about the MPIN and its job. Do remember that MPIN is used only for mobile banking. This PIN is completely different from the ATM PIN and UPI PIN.
Mobile banking Personal Identification number or MPIN means it is a necessity for online banking services, and certainly an important one. Most people are very used to this technology for online money transactions. Still, if there is any confusion that you may face in understanding MPIN properly, we hope this information was helpful. Do use your MPIN sincerely, and never ever share the PIN with an unknown person to avoid unfortunate situations.