What You Should Know About BIN Checking?
Bank Identification Number is also called as Issuer Identification and this is the number that is present in the Primary Account Number of the payment card. First 6 digits of the PAN forms BIN. These 6 digits has the power to reveal so much relevant information for an online vendor. Online vendors need to make use of BIN checker like http://binchecker.com/ for ensuring that they are not missing out any information that can cost a lot to them.
How It Works?
The first digit in BIN is called as Major Industry Identifier and it is something useful for identifying the industry in which the issuer of the card belongs to. The BIN also indicates the issuer of credit card. You need to make use of a BIN checker for finding the issuing organization of a payment card.
BIN Checking also provides the information like type of the card that is debit or credit, the issuer and also the level of the card like platinum, gold, standard etc. The BIN database usually comprises of other information that include the card limit, card can be used only as ATM, prepaid, Maestro, Gift, Electronic or Cirrus. It even reveals the country code of the place where the card issuer operates.