Using Free Bin Database Search Websites

Business owners that accept credit card transactions through their online interface

or even through traditional point of sale machines in stores should take measures to ensure that the credit card transactions taking place are as secure as possible throughout the transaction. One of the ways to ensure that secure credit card transactions occur is to compare the account holder's information with the records through the credit card, debit card or prepaid credit card company - using the information stored through the bank identification number on the card.

The bank identification number, or the BIN number, is the first six digits on the card and can be searched through a BIN Database to ensure that the information being presented is accurate and not fraudulent, resulting in fees accrued through charge backs that are made to the business owner from the credit card company.

How to Use Free BIN Database Websites

Rather than paying upwards of several hundred dollars to gain access to the Bin Database systems that are available, business owners can access free database information online for the leading financial institutions, reducing the instance of fraudulent charges that are made using credit cards and prepaid credit cards.

These free systems enable the business owner to compare the card digits of the bank identification number and verify the account holder's information to reduce the fraudulent transactions taking place. Free of charge, these services are often limited in the amount of the searches that can be completed each day, limiting the business owner to a maximum of ten searches in a twenty-four hour period from computer or network - perhaps a feasible choice for small business owners that complete fewer than ten transactions on a daily basis.

The Benefits of Using Free Bin Database Services

Business owners that have made the choice to use the free services do not accrue the hundreds of dollars in charges that come with the services. The expensive services can drain the budget - especially for small business owners and therefore using the free options can enable the business owner to gain the sense of security needed to process credit card transactions to reduce potentially fraudulent transactions - without breaking the business budget.

In addition to reducing the expenses for the business, the business owner that has chosen to use the free services is not locked into the expensive Bin Database contracts that require the owner to sign up for a specific period of time, for example, monthly fees that are accumulated every six months to one year.

Free database services are available through multiple websites. This gives the business owner choice when it comes to the services that are going to be chosen from. The business owner can determine which databases are updated regularly to provide the most secure credit card transactions and determine which websites offer the highest amount of free searches.

Using this information, the business owner can reduce the cost of the business expenses that come with processing credit cards, without reducing the security of the transactions being made.

by: Gen Wright

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