Can You Trust Bin Lookups?

By: Gen Wright

If you're looking into BIN lookup lists, you may be wondering whether they are actually worth investing in. Do they work? Are they reliable? Why aren't they better known in the world of business? These are just some of the questions that you may have. The sad truth is, BIN lookup software isn't as well known as it should be. In terms of business it can really save you a lot of money. A BIN lookup can also help you to maintain an excellent business reputation. So why don't more businesses trust them?

How BIN Lookup is designed to Work

A BIN lookup is designed to show you who a credit or debit card belongs to. When you run BIN numbers through the lookup, you are faced with information regarding what type of card it is, who it is registered to and where it is registered. Using this information a business can determine whether or not they should allow a transaction to go through. It is basically a check up to see whether the person buying the goods is who they say they are.

All you have to do is enter the first six digits of the card into the BIN lookup. It will search a BIN database for you and bring back relevant results. Sometimes an error might occur. You may not find the information that you was looking for. As you aren't dealing with an official BIN list, there may be some numbers missing.

On many BIN lookup sites you'll find a message that says you can add your details if they aren't already there. You are allowed up to 10 free BIN number searches on many sites. Search for your own credit card number to see if it's there. If it is you will find it interesting to see what it says about you. If it isn't then you can add it to the system. This will help you as well as the merchant. If a merchant is using a BIN lookup and your details don't come up, they could refuse the transaction. It is often better to be safe rather than sorry in business. A refused transaction is better than a fraudulent one!

How Reliable Are BIN Lookups?

If you are wondering how reliable a particular BIN lookup is then you should see whether it has a demo. That way you can search for various numbers and see whether it recognises them. Get the help of your family and friends if you need to. Just e sure that it is working and that it gives you all of the information that you need.

Sometimes you will encounter errors. This is to be expected from all BIN lookup sites. It's not possible to have every single number in the lookup list. Some will be missing because the issuer hasn't uploaded the details onto the system yet. Or it could be that the BIN lookup doesn't support certain card types. Some may only support MasterCard and Visa. This is something that you need to check before you sign up for any BIN lookup website.

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For more information on how you as a business entity can protect against such like losses check out debit bin lookup or bin database software.

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