Originally Posted by
patrick211
I am sure, that the PIN code is written on the magnetic stripe.
That is, most definitely, not the case.
PIN-based transactions are virtually impossible to dispute, and the cardholder is usually liable for most PIN-based fraudulent transactions. With signature-based transactions, the card issuer is usually liable.
Despite the bank-initiated propaganda ("it's for your protection") campaigns, with "Chip & PIN", the cardholder gains nothing, other than increased liability for unauthorized transactions.