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Old 17 August 2005, 16:36   #13
OddbOd
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Join Date: Jul 2005
Location: Australia
Age: 40
Posts: 663
Quote:
Originally Posted by redblade
Your encrypted pin is stored on Track 3.
This is highly unlikely despite being a suggested use when magcards were first standardised, the intention was to use it for offline ATM transactions which funnily enough never eventuated, I can't imagine why . Track 3 is actually a read/write track and is not used on any financial service card that I have ever heard of because the layout is not standardised and most card readers are incapable of reading it.

In financial services the PIN number is never stored on the card only a verification code (along with some other stuff), in fact your PIN is not stored anywhere only a derivative which is why if you forget what it is you have to pick a new one, the bank can't tell you what it is because they never knew to begin with.
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