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BINs, or Bank Identification Numbers, are used every day by millions of people around the world. Whenever a purchase or sale via credit, debit, prepaid or gift card is made, this number comes into action. So what exactly is a BIN? It is represented by the six digits forming the beginning of the number on any of the above mentioned cards and, as the extended name - bank identification number - suggests, identifies the specific bank or company that has issued the particular card being used. With continually growing use of all kinds of bank cards, incidences of card fraud and theft are also increasing. This can ultimately get extremely costly for business, in particular e-businesses, who rely mostly on card payments. Fortunately, bin checkers are available to check out credit card bin numbers, as well as debit card bin numbers relatively easy. While there are some free bin lookups, which will typically only provide a string of numbers with a fairly generalized bank name, some of the paid for bin bases, such as bindb, or binbase, for instance, will supply companies with software to access their more sophisticated binlists. On these lists, users will be able to check bins for any card, including prepaid card bin numbers and gift card bin numbers, and actually see not only the name of the issuing bank, but also the country in which the card was issued. It is hard to believe, but fraudsters have even figured out how to hack into prepaid or gift cards and use up the money placed onto them before their rightful owners know what is happening. For example, if a card carrying the digits 426534 was to be checked with a free binchecker, the returned result is likely to look something like this: 426534 XXXX Issuing Bank: VISA, or - maybe - like this: 426534 XXXX Issuing Bank: Citibank. Obviously, this makes very little sense to anyone. A result returned from binbase, on the other hand, would look more like this: Citibank, Visa Platinum Card, Australia. Should this card be used for an order to be shipped to India, for example, it may be flagged for further checking before the order is processed just in case this is either a fraudulent or stolen card. Although it is virtually impossible for bin databases to be 100% complete and correct all the time, over 99% of bank identification numbers are stored and regularly updated. Information relating to bank identification numbers provided is kept in such a way that it can be easily filtered, unlike in many free services, where the same bank or country may appear several times with different spelling variations. Companies and banks around the world can therefore prevent being stung by thieves or fraudsters, which often also results in charge backs and all sorts of other complications. The cost of taking the time to do a bin lookup is low in comparison to the potential cost involved in falling prey to card fraud of any kind. Making use of these facilities is a wise move.
You are welcome to visit BIN database website, or try our BIN lookup.
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