Spacelord Apps
Bin Checker Lite - Check BIN 1.0.6
What is BIN? Bank Identification Number (“BIN”) or Issueridentification number (“IIN”) is the first six digits of a bankcard number or payment cards number and it is part of ISO/IEC 7812.It is commonly used in credit cards and debit cards, stored-valuecards, gift cards, and other similar cards. BIN is beneficial toidentify a card brand, issuing institution or bank, country ofissuance, card type, and category of cards. This information isvery useful in the commercial business for fraud prevention,especially in online stores. BREAKING DOWN Bank IdentificationNumber - BIN Bank identification numbers are used by otherinstitutions, such as American Express, as well. The term "issueridentification number" (IIN) is used interchangeably with BIN. Thenumbering system helps identify identity theft or potentialsecurity breaches by comparing data, such as the address of theinstitution issuing the card and the address of the cardholder. HowIt Works The bank identification number is a numbering systemdeveloped by the American National Standards Institute and theInternational Organization for Standardization (ISO) to identifyinstitutions that issue bank cards. The first digit of the BINspecifies the Major Industry Identifier (MII), such as airline,banking, or travel, and the next five digits specify the issuinginstitution or bank. For example, the MII for a Visa credit cardstarts with a 4. The BIN helps merchants evaluate and assess theirpayment card transactions. The BIN quickly helps a merchantidentify which bank the money is being transferred from, theaddress and phone number of the bank, if the issuing bank is in thesame country as the device used to make the transaction, andverifies the address information provided by the customer. Thenumber allows merchants to accept multiple forms of payment andallows faster processing of transactions. When a customer makes anonline purchase, the customer enters her card details on thepayment page. After submitting the first four to six digits of thecard, the online retailer can detect which institution issued thecustomer’s card, the card brand (such as Visa or MasterCard), thecard level (such as corporate or platinum), the card type (such asa debit card or a credit card), and the issuing bank country.Authorization The BIN identifies which issuer receives theauthorization request for the transaction to verify if the card oraccount is valid and whether the purchase amount is available onthe card. This process results in the charge being either approvedor denied. For example, a customer stands at a gas pump and swipesher bank card. Once she swipes the card, the system scans the BINto detect the specific issuing institution that withdraws thefunds. An authorization request is put on the customer's account.The request is authorized within a few seconds, and the transactionis approved. The credit card processing system would be unable todetermine the origin of the customer's funds and would be unable tocomplete the transaction without a BIN. About the BIN Check toolBIN Checker tool is designed to check the existence of a BankIdentification Number (BIN) base on an updated database. Currently,there is more than +365,460 unique BIN in our database. Kindly takenote that, the database is accurate but not perfect. The tool isprovided for informational purposes only. Whilst every effort ismade to provide accurate data, users must acknowledge that thiswebsite accepts no liability whatsoever with respect to itsaccuracy. Only your bank can confirm the correct bank accountinformation. If you are making an important payment, which istime-critical, we recommend contacting your bank first.
