Bin Numbers - How To Check Them

By: Gen Wright

There is a way to prevent fraud and scams, which not many people are aware of. When a purchase is being made, the most common form of payment is to use a card. The card will come with a set of numbers, and those numbers can be checked against a database to show you information on the person holding the card. BIN stands for Bank Identification Numbers, using these numbers you will be able to tell if the purchase stands a high risk of being a fraud case. All you will need will be the first six numbers of the card that is being used.

Information such as the type of card, and what kind of funding this card receives will be shown. Other information that will be shown will be, which country the card was issued in and what type of card this is. You will even be able to find out the subtype of the card, just from these six numbers. This is how we are able to tell if we stand a high or low chance, of falling for a scam or fraud. One thing that raises alarm bells for me will be prepaid cards.

Prepaid cards have been becoming more and more popular, they can be found close to anywhere and anyone that has money will be able to buy them. There is no restriction on age gender or race. All these reasons make them very popular, and that is also why more people have been turning to them. When I see a prepaid card being used, I know that the risk will be higher than usual. This is due to the fact that scams and frauds from these prepaid cards have been on the increase. Criminals have found a way to overcharge the card to spend on items, which have a higher value.

You will be able to find many websites on the internet, which you will be able to check the BIN numbers that you are given. They will range from being free websites to websites, which will need you to pay a fee when you are using their services. I will advise anyone who is checking the BIN numbers to check the website, to see how big their database is. You will want to look for a big database, to be able to find the information that you are looking for.
You will also want to see how often they are being updated. New credit and debit cards are being issued every day, this makes keeping track of them a nightmare.

If you are checking on a website that is not being updated, you might end up having old information, which is not valid. To prevent yourself from fraud, which will end up costing money and time to settle, run a BIN number check on the credit card instead. If you feel that the risk of this being a fraud case is too great, you can always refuse the deal and look for another person to sell too.

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Now you know about the importance of bin numbers. To find out whether it will be useful for your business, try bin numbers search software.

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