subject: Bank Bin Search For Better Business [print this page] A bank bin search through the bin databases is a must not only for nascent firms but also for large firms with a global audience. Bank bin search can be conducted with either free or licensed ones
Bank identification numbers form the skeleton of bank bin search and provide a proven way to confirm the cardholders' authenticity.
Difference between free and licensed bin databases
Bank bin search with a free bin database is different from commercially available ones
Cost
Free bank bin database lookup tools are freely available as the name indicates. Licensed ones cost you either once or multiple times depending on the provider policies. Most free bin databases are online tools which can be used freely to check the credentials of the credit card numbers. While selecting the suitable bank bin search tool, affordability is the key parameter.
Number of fields
Usually 11 fields are found in a bank bin search tool. In some free bank bin search tools it can be limited.
License
As indicated free bin databases offer free bank bin search. Some are online while others are freely downloadable. Commercial bank bin search tools require a license key which is to be purchased from the provider. This can be a onetime investment or require you to pay several times on a periodic basis. Some licensed versions limit the updates to further payments.
For example, you may get a bank bin search tool once, but for each update you may be required to pay a certain sum. If the merchant does not choose to pay for updates, he can continue to use the older version.
Free updates are provided for licensed bank bin search tools generally for a period of one year. Licensed bank bin search tools are offered as download links sent via e mail once the payment is realized by the providers. Same is the case with updates and patches also.
Number of searches
A free bank bin search tool limits the number of transactions which can be searched to a maximum of 10 for each computer or internet protocol address with which the network is connected. Licensed versions provide more number of such searches and are generally unlimited. The limitation on the number of searches is the biggest drawback for free bank bin search tool.
Comprehensiveness
Licensed bank bin search databases are more comprehensive than free ones. The liability of payment makes the providers more responsible and hence the completeness of data is high priority for licensed databases.
Free bin databases are usually outdated and sometimes can contain obsolete data. Nevertheless there are a few exceptions.
Format of data
The records may be partially complete or incomplete in a free bank bin search tool. The format does not differ much in both versions. The ideal one suits the requirements of other accounting and security measures in place.
CSV is the most popular format preferred by developers since integrating csv format files to the existing websites is easier. This allows for upgrading the bank bin search tool without the need for revamping the whole website especially in online businesses.
