3 Tips On Finding What Bank A BIN Is Associated With
If you have a BIN (Banking Identification Number) with your credit card, then you can actually do a lot of things with it, especially if you are looking for more information about the bank that the BIN is associated with. But how do you find a BIN in the first place, and what makes it so important?
Well, a BIN is the first 6 digits of a credit or debit card number. For example, if your credit card number is 1234 5678 9000 0000, then the BIN would be 1234 56. Now, these numbers have a purpose because they can identify the issuing bank, card brand, card type, card level, and country of a credit card. Now that you know what a BIN can identify, how do you use it?
1. Use A BIN Checker
There are several online BIN checkers that can check your BIN code and give you all the information you need. Since the BIN is only information about the bank, and the rest of the numbers on the credit card are numbers for your account, you don’t need to worry about your data being breached.
Just look for a BIN database and see what comes up, and then type in your first six numbers to collect all the information you need. You can check here to find a good bank identification number search service, and start learning more about where your card came from.
2. Analyse The Numbers Yourself
If you don’t want to put information from your credit card online, then you can focus on analysing the first number yourself to find some of the information. The first digit of the BIN on your credit card shows the card issuers industry, or where the card came from. Most banking and financial cards have 4 or 5 as the first digit, so you should have that as well.
Sadly, the remaining numbers of the BIN cannot be understood yourself, and you will need to use some type of online checker.
3. Talk To Your Bank
Of course, you can go back to the bank where you have set up your account(s) and ask them for help in figuring out your BIN. The staff will be happy to help you find the information you need, and then you can continue your transactions.
What Do Bank Identification Numbers Do For You?
The BIN number is actually your first line of defence against fraud and it ensures that all of your transactions go through. The electronic payment processing system uses the BIN to help connect the merchant you are buying from, the payment processor, the issuing bank, and then the merchant’s bank. The BIN is checked and if it is verified, then the payment goes through.
The rest of the numbers on your card is your bank account number, which is then accessed to draw money out of the card and complete the transaction.
If you type in your BIN wrong whenever you are making an online transaction, then the payment can be declined because the processing system detects fraud. Nearly every single type of card has them, and they help you out every single time you make a payment. Because no card issuers have the same BIN numbers, it is very easy to tell if fraud is happening with that specific card.
The BIN Is Easy But Important
Taking the time to enter your BIN into an online checker is going to help you out because you will find everything you need within a few seconds, and then you can have more information about your bank and your card.