Bank Identification Number (BIN) is the first 6 digits of payment cards number or a bank card number. BIN is also referred to us Issuer Identification Number (IIN). BIN is part of ISO/IEC 7812. Bank Identification Numbers are commonly used in debit cards, credit cards, gift cards, as well as store-value cards among other similar cards.
Merchants widely use Bank Identification Number to check-mate mal-practices such as fraud. BIN is very useful and it helps in determining whether the buyer is the real owner of the card, or whether the buyer is real.
Bank Identification Number (BIN) checker is a tool designed to accurately check the existence of a BIN base on databases. In this modern world, it is very important, if not necessary for merchants to use Bank Identification Number (BIN) checker. Otherwise, fraudsters and money launderers can exceptionally thrive in their dirty businesses. Credit card fraud has become very common in today’s world. The best way of controlling and preventing credit card fraud is by using Bank Identification Number (BIN) checker. Without using BIN checker, you are giving fraudsters an opportunity to steal your money.
There are so many reasons to use Bank Identification Number (BIN) checker. One of those reasons is that it provides regular updates. However, not all BIN checker software you will find out there provides accurate results. For this reason, you should be very careful when picking BIN checker software. Be sure to pick the best BIN checker software that will offer accurate information. Good Bank Identification Number (BIN) checker should provide more than 90 percent accuracy.
Good Bank Identification Number (BIN) checker should be easier to use. The software should be user friendly so that you don’t find it hard to use it. You should actually be able to use it readily immediately after installation without any problem.
Furthermore, a good BIN checker should match the speed of the card payment. Otherwise, it might slow down your operations in terms of payments and identity verifications.
By definition above, examples of some GOOD BIN inputs:
Examples of some BAD BIN inputs: