A Guide on Bank Identification Number: BIN List & FAQs

by Dan Sullivan

In this 21st Century, the rise of online transactions has brought about many innovations; one is the use of credit and debit cards for payment. Before now, payments were made by cash or through bank transfers, but credit cards made life a lot better. For every card, there is something particular about them that validates transactions online - the Bank Identification Number (BIN). More details about BIN and services here

While online transaction keeps booming, Fraud and identity theft are limitations to this credit card innovation. Hence, checker services were invented to help verify these cards so people can avoid being defrauded of their hard-earned cash. This guide is a must-read for business owners, merchants, consumers, and several other people who make use of credit cards for day-to-day transactions.

Below is a list of frequently asked questions that will enlighten you better on Bank Identification Number, and everything there is to know. Ensure you read the answers carefully.

What Does Bank Identification Number Mean?

Bank Identification Number, BIN, is the first four to six digits of a card that confirms a user's identity when making transactions online. This identification system was designed by two corporate bodies - the International Organization for Standardization, and the American National Standards Institute. These numbers are also called the Issuer Identification Number that is provided by financial institutions or issuers to enable easy transactions.

Bank Identification Number is not only for credit and debit cards; other cards that are used for financial transactions also have them. For instance, a Virtual Credit Card, Electronic Gift Card, Stored Value Cards, and so on, have this identification number as well. In essence, as long as you have a credit card provided to you by a financial issuer, then you have a bank identification number assigned to you. All you have to do is complete the card registration and receive your card whenever promised.

Remember, wherever you tender this card, your information is provided with the numbers. All information, such as card type, issuing bank, card name, etc., is accurate.

Who Needs a BIN?

WhoNeeds a BIN?
Who Needs a BIN?

Owning a Bank Identification Number comes with being accessible to credit or debit cards. As long as you can obtain a credit card from an issuer, then you get to have a BIN for performing transactions either virtually or physically. Every issuer has a first digit number that applies to their institution for respective clients/customers.

Where To Find The Bank Identification Number?

The first time you came across a credit card, you may have seen a set of random numbers that made almost no sense until you started transacting online. The digits are vital because they provide every information about the cardholder. Now, these numbers are divided into several parts, with each having a specificity. For instance, the first four to six numbers are the BIN, while the rest are individual account identification numbers.

The first number on the card is called the Major Industry Identifier (MII), and it ranges between 0 to 9. Every digit belongs to a financial issuer; 4 and 5 are for banking cards while 8 is for health and telecommunications. A card issuer determines the next 3 to 5 digits. Finally, the last number is called the Luhn Digit - a number generated using the Luhn Algorithm for credit card verification.

Issuer MII
American Express 3
Bankcard 56
InstaPayment 637-639

What Are The Best BIN Checker Services?

With the increase in the number of Fraud and scams during online transactions, merchants are beginning to adopt new methods to verify card details. With BIN Checker services, it is possible to get information about a cardholder and confirm the legitimacy of the card for business.

Below is a list of the best BIN Checker Services online.

Free BIN Checker

FreeBINChecker has one of the most impressive services online to help business people check the validity of a customer's card. This checker has over 700,000 BINs in its database, which is good enough for whatever is needed. There is a basic and premium version of this web-app; in the same vein, an advanced tool setting is present for effective performance.

Bank BIN List

Another incredible BIN Checker Services to patronize is BankBINList. This service has over 300,000 BIN records to help with confirming the validity of a client's credit card. It has BIN Link Up, and IP Search features that both help in providing relevant info about a cardholder. There are over 10 million IP addresses accessible by BankBINList for ultimate satisfaction.


There are a few things about IIN BIN List Checker Services that make a fantastic choice for merchants who want to confirm the validity of a customer's credit or debit card. This checker has over 300,000 BINs in its huge database; also, it makes use of a powerful API and JavaScript for getting results. Interestingly, this checker platform constantly gets updated so that information provided is in real-time.

Dev's BIN Checker Tool

For business owners who want a checker that is user-friendly and effective, CreditCardRush is an excellent option to consider. This service provider is quite responsive with its incredible database to help in confirming card details. Also, CreditCardRush has good control options to enable easy search and provision of relevant results. Additionally, the auto verification system is a feature that makes is different from most checker services online.

Card BIN List

On a PC or mobile device, ExactBins work efficiently to provide all necessary details to confirm a cardholder. This checker service also has a good database that enables quick search and delivers the results needed. It has a friendly UI, which is a vital feature to enable easy use of the platform. ExactBins give merchants a good privilege to either accept or reject a card from performing transactions online.

How BINs Work Against Online Scams?

Online scams are one of the biggest challenges in the world today, as a lot of people are out ready to defraud people. In a way, BIN is an effective tool that will help combat the menace. Identity theft is another problem that needs immediate attention, and identity verification through credit cards should do so much in preventing subsequent cases.

Bank Identification Number goes beyond helping to make transactions faster and better; it is also a way merchants or business people can use to verify card transactions. This verification system will be able to find out loopholes when making purchases or paying for services online.

On how BINs work : They add security to card transactions; thus, protecting a merchant. The transaction is accurately analyzed with details provided so that anything that looks suspicious is pointed out immediately. These merchants often make use of BINchecker services to confirm the validity of a transaction using the numbers on the card.

Most BIN checkers have a great User-interface to make things a lot easier for merchants during confirmation. Also, the sites are incorporated with API to provide accurate information about a cardholder. Additionally, a common feature on the BIN checker site is the Search Tool that gets into the database for BINs.

What Are The Benefits of BINs?

BIN has been helpful in so many ways than those mentioned earlier. Below is a list of the top benefits that extend to both merchants and cardholders.

Secure Transaction

Undoubtedly, Bank Identification Number is a great way to ensure safe and secure transactions. It has a security protocol that helps to make sure money is not lost as a result of fraudulent acts. It doesn't matter if transactions are carried out virtually or physically; the numbers can be verified to avoid worst-case scenarios. As it confirms the identity of a cardholder by providing accurate information, a merchant is allowed to either proceed with or cancel the transaction.

Apart from helping to verify card details for transactions, BINs are also good to know business trends. This number helps a merchant, as well as a cardholder, know what purchasing patterns look like. It is vital to constantly know what these patterns look at the time of the year. These patterns include factors/features such as Card decline rates, Fraud acts, Client demographics, Transition from physical to virtual business, and so on.

Chargeback Ratio

Quite surprising, but BINs are used to regulate chargeback ratios. In business, a chargeback is a smart way to know what merchant to use for payments. It is often said that those with low chargeback ratios maintain a great reputation in the hearts of clients or customers.

Agreeably, a Bank Identification Number is more than what you think it is; the digits are great for virtual and physical transactions, among other things. This guide was put so that you get to know more about how important they are through the frequently asked questions. Moreover, there is a better knowledge of how the numbers came to exist.

Without a doubt, merchants, freelancers, business owners, online shoppers, and several other people who perform transactions daily need BINs for effective operation. In the same vein, they need BIN checker services to help in validating the authenticity of a client's card against Fraud.

About Dan Sullivan

Dan Sullivan is a renowned professor and esteemed education writer with a passion for inspiring students and transforming the field of education. With a diverse background in academia and practical teaching experience, he has become a leading figure in educational research and pedagogy.

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