Bank Identification Numbers Database For Bin Search

A bank identification number is the first four to six digits of the card allowing

unique identification and verification of financial cards easy, flexible and reality. A bank identification numbers database stores a large number of such bank identification numbers and allows for the comparison of bin when needed.

The bank card numbers are specially designed ISOIEC 7812 numbers with special format. It consists of a single digit MII Major Industry identifier along with next IIN or Issuers identification number and a variable length individual account identifier. This is followed by a single check digit which is based on the Luhn algorithm.

Bank identification numbers database allows for checking of credit card frauds. When you enter the Bank identification number into the bin database, the system compares it with the available information and any mismatches are flagged and warnings issued. The American Bankers Association maintains the bank identification numbers database of all the bin numbers irrespective of the service provider.

But the database is accessible only to members and does not contain all the necessary fields needed for checking of data. The bank identification numbers database maintained by American Bankers Association is updated on a monthly basis. ABA issues IIN s to various networks.

Validation of financial cards are done using bank identification numbers database. Extra vigilance is required if the verification results in the billing address and address in bank identification database being different. Such cases are checked again to confirm the authenticity of the transaction.

If the merchant feels like the transaction is somewhat suspicious as suggested by Bank identification numbers database verification, he can choose to stop or cancel the transaction at once.

Different MII indicates different industries to which the card belongs to. In other words it shows the type of the card.

For example

0 - Represents ISO industry assignments

1& 2- Airlines industry

3- Travel Industry

4 and 5- banking and finance

6- merchandizing

7- petroleum

8- telecommunications

9- national assignment

Uses of bank identification numbers database

A bank identification numbers database is another way of preventing frauds especially those of the financial nature. It reduces charge backs by identifying and allowing the merchant to prevent such transactions in advance. The bank identification numbers database also helps in check of unnecessary financial fall backs. A high charge back ratio above 2.5 is undesirable at the international economy and bank identification numbers database is a great way to prevent such fall outs.

Quality and reliable services are available from private or commercial bank identification numbers database or ensuring complete prevention of credit card frauds. Whether you run a small store or a large firm supplying goods overseas, a bank identification numbers database is a good tool to identify the potential threats that can affect your business. By a little check and caution you save your e-commerce platforms from encountering major drawbacks. Recognition of credit card frauds is the first step in securing the finance and a bank identification number database is your first companion in achieving the target.

by: Gen Wright

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