What is a Standard Life Transaction (Authorization) PIN?

The Transaction PIN for Standard Life is a 4-digit number that you will need when applying for or paying off a loan. This PIN is different from your password because it is specifically used to confirm any transaction activities within your Standard Life account, whereas your password is used to log into your account.

The Transaction PIN serves as an additional security measure to ensure that all transactions made from your account are authorized by you. It is essential to keep this PIN confidential and secure to prevent unauthorized access to your financial activities.  If you suspect that someone else has gained access to your Transaction PIN, it is crucial to change it immediately to protect your account and prevent any potential fraudulent activities.

Here are some detailed points to consider regarding your Transaction PIN:

1. Usage of Transaction PIN:
   • The Transaction PIN is required for activities such as applying for a loan, making loan payments, and other financial transactions within your Standard Life account.
   • It acts as a second layer of security, ensuring that only the account holder can authorize these activities.
2. Difference Between Password and Transaction PIN:
   • Your password is used primarily to log into your Standard Life account. It grants access to your account details and personal information.
   • The Transaction PIN, on the other hand, is specifically used for verifying and authorizing transactions. This ensures that even if someone gains access to your account, they cannot perform financial transactions without the Transaction PIN.
3. Security Recommendations:
   • Do not share your Transaction PIN with anyone. Keeping it confidential is the best way to protect your account from unauthorized access.
   • Use a unique 4-digit number that is not easily guessable, avoiding common patterns like "1234", or your birth year.
4. What to Do if Your Transaction PIN is Compromised:
   • If you suspect that someone has gained access to your Transaction PIN, change it immediately. Standard Life provides an easy way to change your Transaction PIN through your account settings.
   • Regularly updating your Transaction PIN can enhance your account's security.
5. Forgotten Transaction PIN:
   • If you forget your Transaction PIN, don't worry. Standard Life offers a straightforward process to reset it.
   • You can reset your Transaction PIN yourself through the account recovery options available on the Standard Life website or app.

For more clarification, or if you need any support with our services please contact our Support number: +250788195000 / +250794426634.