Free Bin Databases- Are They Effective?

One of the main concerns for businesses is how to make money without spending too much money

. Profit is everything and therefore many business owners are extremely careful with what they spend on costs. If you have been thinking about getting a BIN database but you are concerned about the cost and whether it is worthwhile, a free trial might be just what you need.

There are plenty of free BIN databases available online. Some are simply demos which show you how the list works and how it could potentially help you. However, there are also proper databases which are always free to use. The question is are they really as good as the paid versions or is it worth investing a little money to get the best results?

Understanding Free BIN Databases

There is typically at least one thing missing from free online BIN databases. It could be that they only allow you to do a set number of checks every day. Or it could be that they only allow you to search for numbers in your own country. Therefore if you offer international shipping and services it might not be ideal.

Always take a look at what the BIN database actually includes. Read the small print. This is something that is recommended to people all of the time, yet still it's easy to ignore the advice. Without reading the small print and finding out what the database does and doesn't include, you could be wasting your time, and potentially your money too! So a few minutes of your time reading through a lot of boring information could potentially save you your business!

Even when you aren't paying anything for a BIN database, you should still take your time to choose the best one. After all it could potentially help you to stop fraud. Therefore choosing the most effective software and BIN services is always worthwhile. You can browse through online reviews and testimonials. Or you could spend time trying out as many free BIN lists as possible. That way you get to see exactly how they work and just how effective they are.

One thing that a free BIN database might be missing is various bits of information. There might not be any contact details for the owner of the card. This will make it difficult to contact them if you do suspect there's a problem. Some free databases also won't tell you which company the card is issued to. This means that you wouldn't even be able to contact the issuer if there's a problem. The more information that the BIN list can tell you, the more effective it will be at helping you to combat fraud.

Overall BIN databases are easily available online. It is possible to find some good free ones, but typically they will all have something missing. Therefore you may like to consider using a paid version if you run a fairly large business. The bigger your business is, the more likely you will be to become a victim of fraud.

by: Gen Wright

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