Details About The Bank Identification Number Search Services

If you have ever wondered how some businesses keep their losses low then you are in for a great surprise

. The simplest method of reducing credit, debit and even gift card fraud is through the help of a bank identification number search. These are specialized search services which can verify just about any type of issued electronic credit/cash card. The Main deal with the bank identification number search is the fact that it uses a very simple number combination to pull the validation information.

Validation with a bank identification number search is done by pulling the information associated with the first six numbers on the card. You will have access to information about the bank that the card is designed to work with, the issuer of the card, the brand of the card and the card type just with the simple number combination. If any number inquiry comes back without results on the bank identification number search, then you know that there is a 99 percent chance that the card is fake or no longer valid.

Preventing Money Loss with a Bank Identification Number Search

So the main reason why you would need to use a bank identification number search is simple. The bank identification number search allows you to flag and blacklist numbers that are simply too risky to run through verification.

A fraudulent number can actually get through the system, making the electronic fund transfer artificially occur and process into your sales account. Of course once the system back tracks the funds, there will be no existing account where there should be one. The process will then cause a reversal of the funds and create a loss by incurring fees for running a fraudulent charge. If the number gets through the system and into a real account, the funds may be removed from an account that never authorized a transaction, prompting a chargeback. These additional costs can really set any business back.

The bank identification number search can reduce the risks associated with accepting online payment through card transaction by a hefty amount. By reducing these risks, businesses can feel confident that they will be able to pull ahead, especially against their competition that does not use such protective services.

The Ease of Running a Bank Identification Number Search

Any business owner that is interested in how the bank identification number search works can simply use a service that offers one. To run a bank identification number search, try a service which offers a trial or free daily searches to try the efficiency. By running the first six numbers of any of the cards, the bank identification number search will pull and display any applicable information about the card. The business owner can then determine if the card is valid and whether or not the card will be rejected by the processing services. The bank identification number search will not display any information whenever the number cannot define an existing bank, issuer or other factor. This makes the bank identification number search a useful tool to have on hand when dealing online.

by: Gen Wright

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