Bank Bin Numbers - How They Work?

If you're not familiar with bank bin numbers, they are the first six digits on a credit or debit card. In fact, any charge card with a 16-number setup will have bin numbers available. They are used to help business owners make sure every transaction is safe. The information from the card is cross-checked against information in the bin database.

Anytime there is a discrepancy, the transaction will be declined. This makes the card owner call the credit card company and verify information before a purchase can be made. In the second decade of the 21st century, it's the best way to combat online identity theft and fraud.

However, bank bin numbers affect more than just the consumer. Business owners can end up with costly fees due to chargebacks and raised prices. The banks can end up taking a hit as well, so it's important for a bin database service to be in place.

A bank bin search uses an automatic system to check for fraudulent activity. The only thing a business owner has to do is integrate the software into their website. Then the system will take over and reduce the overall risk of making a purchase on their website.

Over time, business owners get a feel for the numbers associated with credit cards, but first time owners struggle. Here is a little help:

* American Express - Anytime you have an AMEX bin number in front of you, it will start with a 37.

* Visa - Whenever a Visa credit or debit card is used, the bank bin numbers will start with a 4.

* MasterCard - The card numbers with a MasterCard is a little different, because they can start with anything from a 51 to a 55.

* Discover - The major credit card from Discover begins with 6011 in most cases. However, there are times when they will start with 65.

The Biggest Threat

Major credit card companies understand the issues revolving around credit card fraud. While this is true, the biggest threat comes from prepaid cards. Thieves have caught on to the issue, and they are definitely taking advantage of it. When comparing prepaid cards to standard credit cards, they are 3 times more likely to create issues for you.

What do Bank Bin Numbers look like?

Even though there are certain numbers that each credit card company will start with, bank bin numbers focus on the first 6 numbers. So, if your sixteen digit number is 3546 5784 1123 7867 then the bin number will be 3546 57. This is the number that will be found within the bin database.

The bin number reveals information that will help decide whether or not the transaction is valid. It's essential for every business to take advantage of a bank bin numbers business. Without it you could end up dealing with chargebacks and red tape. A successful business doesn't have time to deal with fraudulent transactions. Using a bank bin numbers search will provide the necessary security.