There was a time when depositing and withdrawing money used to take a long time. Talking about now, there is no need to go somewhere to deposit or withdraw money. This can save us a lot of time. ATM is the biggest achievement in banking history. Through ATMs, you can easily withdraw money from anywhere. Let us know why the ATM PIN is of 4 digits only.
Who invented ATM
John invented the ATM in the year 1969. At the same time, in today's era, people have started using digital payment a lot. Despite this, half of India's population still uses ATMs. Now let's talk about why the pin code of the ATM was kept at only 4 digits.
Why are there 4-digit pins
When John was making an ATM and installing a coding system in it, initially John wanted to make it 6 digits. In such a situation, he asked his wife to use it. In such a situation, John noticed that his wife used to forget the last 3 digits. In such a situation, John kept a 4-digit PIN instead of 6 so that people could not forget the PIN.
How safe is 4 digit pin
After this John removed the 6-digit PIN from the ATM and replaced it with a 4-digit PIN. 4-digit ATM PINs are in the range 0000 to 9999 so that 10000 different PINs can be created. Hacking a 4 digit pin is not that easy. In such a situation, people do not forget the 4-digit PIN easily.
How many total ATMs are there
Today the use of ATMs has increased so much that there are more than 3.2 million ATMs in the world. Most ATMs are in China. At the same time, heavy fees have to be paid for withdrawing money from ATMs. It costs much less to withdraw cash in India as compared to other countries.
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