Free Vs. Paid Bin Database Services

Bin Database systems are designed to allow business owners of online and brick and

mortar businesses to enter and confirm the details of the account holder, comparing these details with the person that is using the credit card to ensure secure transactions are taking place.

Both paid Bin Database and free database systems are available to business owners. Free database systems allow the owner of the business to enter the first six digits of the credit card number, the bank identification number that is specific to each financial institution, and confirm the account details of the person using the credit card.

Drawbacks to using Free BIN Database Services

Free database services can be used through the internet, allowing the business owner to enter the bank identification number to confirm the account details, but often limit the business owner to the amount of searches that can be completed on a daily basis. Most services allow business owners a maximum of ten searches that can be completed over the course of twenty four hours, limiting the amount of confirmations that the business owner is able to verify - which can be risky for businesses that complete more than ten credit card transactions in one day.

Free database systems are available online for business owners, but the free systems may give access to smaller databases, reducing the effectiveness of bin checker programs. Using paid subscription services, customers have a larger range of numbers that are available and that can be checked, increasing the security for the customers that are using the credit card processing systems.

In addition to smaller BIN Database services, customers that use free services aren't eligible to take advantage of databases that update regularly. One of the benefits to using the paid database services for bank identification numbers is the fact that the databases are updated on a regular basis, allowing the business owner to have constant security features and changes associated with the processing of credit cards. Free services that give the business owner access to database and bin checker services may not be updated regularly and therefore can be out of date while providing security to the customer's credit cards that are being processed.

Saving Money on Paid Bin Database Services

Paid database services are available through a variety of online companies. Customers (business owners) can sign up through the online service and gain access to the database systems for various credit card, debit card and prepaid credit card access to BIN number databases to secure the transactions by confirming the information of the account holder.

Using online coupon codes and promotions to gain access to the database can be a great way to save up to twenty-five percent off of the regular cost of database access. Using these promotions, the business owner can reduce the cost of the subscription without risking the security of the customers buying from the online or brick and mortar store.

by: Gen Wright

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