BIN Checker is designed to instantly verify, validate & check the BIN (Bank Identification Number) on the updated free BIN database. The tool fetches the card issuer details and facilitates in identifying the issuing bank by the card. It tells which bank and its branch issued that card.
The Bank Identification Number (BIN) is the numbering system designed by the American National Standards Institute (ANSI) and the International Organization for Standardization (ISO) to identify the financial institutions issuing the payment cards. It's a pivot point that binds the card's issuer with its transaction.
BIN is the first four to six-digit number on any payment card issued by the bank or other financial institution, also referred to as INN (Issuer Identification Number). It's embossed on each credit, debit, gift, stored value, or similar card in circulation and also appears in print just below it.
Here, each card number is regulated under international standards (ISO/IEC 7812) to ensure that no two cards on the planet share the same card number.
The cardholder generally does not know much about BIN, but it's essential to know.
The first digit of the BIN identifies the industry in which the card is mainly used, called Major Industry Identifier (MII). The MII ranges from 0 to 9, representing different industry categories. For example, the number 0 represents the ISO / TC 68 and other industry duties. The number 4 represents the Banking and Finance industry.
The following five digits of BIN represent the issuing bank or financial institute that issued the card.
Overall, BIN helps identify the financial institution that issued the payment card. It identifies the issuer authorized to receive the request to verify if the card or account is valid and the requested amount is in the account or not. That means if the card was issued for the USA and represented in another country for the processing. It will be readily recognizable by its BIN. Overall, the system helps financial institutions identify stolen payment cards and prevent identity theft.
As per ISO/IEC 7812, the Credit & Debit Card number can be up to 19 digits in length. For example, we have a credit or debit card format generated by a credit card generator that looks like 3703 5165 4675 858.
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With time our living standards have changed. Due to technological exposure, there were dramatic changes that affected our lives. The modern system leads us to a more convenient payment system. But the flip side is that now we are more exposed to criminality and theft. One of the safety features simulated is the Bank Identification Number (BIN).
Our BIN checker tool offers the following benefits.
Suppose a customer uses their payment card at a fuel filling station to fill their tank. As soon as the customer swipes the card, the system detects its BIN and identifies the card issuer institution. The system will forward an authorization request to the customer's account and be authorized within a few seconds. The transaction will be approved if the customer has sufficient balance or declined if not.
For the BIN search and BIN lookup, perform the following steps.
Due to technological advancement and the shift from manual payment to digital, the usage of BIN will likely expand. That means, in the future, we need more unique BIN numbers. However, currently, there is no shortage of account numbers. But because in the future, we may be drained out with that. Therefore, in 2016, the International Organization for Standardization (ISO) announced changes to the BIN/IIN, including expanding it from six digits to the first eight digits.
Here, the fraudster takes the card's first four to six digits (BIN or INN code) and uses some software or online tools to generate the remaining card number. These generated card numbers are tested to check which one is active.
The fraudster does small transactions, usually less than 1$, through online stores. They also developed software that runs the generated card numbers through the website. The cards being tested range from several per day to thousands of cards in a matter of hours. That practice continues unless the fraudster finds the active card number.
Remember, your bank will never call or text you to inform you that your bank account information has been compromised. So if you receive any call or text about that, do not engage with the scammer. Better to inform your bank about such activity or the official platform provided by your government.
Some online customers use VPNs or other software to mask their IP. That practice is followed to unlock some websites, products, or features that are not available by the websites or stores because of the customer's location as checked by IP. However, the e-commerce store owner can filter them out with the help of a BIN & IP check. First, get the BIN of the payment card the customer enters for a transaction. Now check the customer's IP address. After getting both:
If the BIN and IP address are directed to the same country, then there's the probability that the transaction and person behind that are genuine.