What You Learn From A Bin Number Lookup?

By: Gen Wright


All over the Internet, you may find websites, which offer search engines and databases for a BIN number database. This means looking up a Bank Identification Number, the first six digits of a credit card number, to verify that the number is real, and to find out about the bank that issued the card. Businesses, especially merchants who do a lot of their business online, use BIN number software, both on the Internet and on their computers, to cross check credit card numbers.

There are several different types of information you can learn from a BIN lookup.

1) Card brand: American Express, Discover, MasterCard, Visa.

2) Account type: credit, debit, prepaid.

3) Card type: personal, business, commercial.

4) Card level: gold, platinum, etc.

5) Country of issue: a thorough BIN lookup database will include banks in countries outside of North America. The European banking system is complicated, and their BINs often obscure; if you have a lot of European customers you need to look for a BIN lookup online service that specifically seeks out their numbers.

6) Bank name: The specific bank, which issued this card.

7) Bank contact information, usually meaning a phone number.

Businesses do debit BIN lookups, but most especially, they focus on credit cards. This information is used primarily to screen out suspicious purchases that might be examples of card number theft or fraud. The more information you have, the more there is to compare and crosscheck. In particular, they are suspicious of transactions that involved addresses in different countries from the country that first issued the card. Of course, people do move around, and they may be purchasing for a friend or family member who lives elsewhere, but many times such a discrepancy is the result of a stolen number that has been sold. If that is the case, then allowing the purchase will just result in a loss when the credit card company discovers the fraud and refuses to pay.

Unfortunately, no BIN number database system can guarantee that a card isn't stolen, so chargebacks are just a fact of life for such businesses. It is still the best thing currently available and far superior to accepting credit card numbers at face value. There are several other ways to use BIN searches to aid your finances. If you are a business owner, whether you've already broken into the vast global online marketplace or are just considering it, then you should realize that without the means to do a BIN number lookup, you are leaving yourself vulnerable to frauds and thieves.

Look for a website, service or download that keeps lists of BINs for all the card types you accept. You should also verify how often their lists are updated to include both new BINs and old ones that are expiring. If you purchase a database, the website should provide you with regular updates to keep your own records current.

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Now you are aware of the importance of bin number lookup. To assess the quality of data, try online bin number look up.

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