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Equity Bank Moves from 4 to 5 digits USSD PIN
Equity bank Uganda recently announced that they will be moving from a 4-digit to a 5 digit USSD PIN on their monile banking service. The changes are supposed to take place from December/14th/2023, and they emphasize their customers to update their PIN to avoid any inconveniences. If you have not yet updated your PIN, you may do so by following the step below:
How to change your Equity Bank USSD PIN
- Go to your phone dialer and press in this USSD code *247#
- From the menu, select option 10 “Changing PIN“
- You will be requested to provide your old PIN before attempting to change it.
- Next, if your old PIN is correct, you will be prompted to enter and confirm your new PIN.
- Finally, you will receive a notification that your PIN has been changed successfully.
Why Use a 5-digit PIN instead of a 4-digit PIN?
Using a 5-digit PIN instead of a 4-digit PIN in mobile banking apps can be a security enhancement, albeit a relatively small one. Here are some reasons why a 5-digit PIN might be preferred:
1. Increased Combination Possibilities:
A 5-digit PIN provides more possible combinations than a 4-digit PIN, making it marginally more difficult for someone to guess or crack through a brute-force attack.
2. Enhanced Security Layer:
The additional digit adds an extra layer of security, which can be beneficial in certain scenarios. While it doesn’t make a huge difference mathematically, every bit of complexity can contribute to improved security.
3. Alignment with Industry Standards:
Some security standards and best practices recommend or mandate the use of longer PINs or passwords for enhanced security. Institutions may choose a 5-digit PIN to align with these standards.
4. Mitigating Risks of Common PINs:
Longer PINs may help mitigate the risks associated with users choosing common or easily guessable PINs, as they have a broader set of possibilities to choose from.
Conclusion
It’s important to note that the effectiveness of a PIN as a security measure depends not only on its length but also on factors like how it’s stored, transmitted, and the overall security architecture of the system. If you need more information about your account’s security, kindly contact Equity Bank Uganda.
Frequently Asked Questions
How do I access mobile banking Equity?
On your Airtel, MTN, and other major SIM card in Uganda, you will need to type in this USSD code *247# to access Equity Mobile banking services.
How do I register for Equity mobile banking in Uganda?
In order to register for Equity mobile banking services in Uganda, you will have to visit any nearby Equity bank branch with your national ID, fill the necessary forms and get authentications to access their services.
What is the USSD code for Equity Bank mobile banking Uganda?
In Uganda, Equity Mobile banking services can be accessed using the USSD code *247#
How to check balance on Equity Bank using phone in Uganda?
To check your balance via Equity mobile banking services, dial *247# >> Balance, then Select account >> choose the account >> finally, enter your PIN to complete your request.
How can I change PIN on Equity Mobile Banking?
To change your Equity Mobile banking PIN, you will simply dial this USSD code: *247# >> choose option 10 Changing PIN >> Provide your old PIN >> Type the New PIN >> Confirm New PIN >> complete changing your PIN
