subject: List Of Bank Identification Numbers - How They Serve The Purpose [print this page] With a list of bank identification numbers, you can reduce the chances of fraud by a large percent. This has become one of the major challenges for merchants and cardholders, since no one is willing to take the blame of losing plastic currency. In most cases, the cardholders fall into the wrong hands, by sharing their cards reluctantly among banks institutions that do not have enhanced Bin database. Your card issuer matters a lot not only to avoid fraud but to incur benefits from the institution as well. This is why you should have a list of bank identification numbers in your mind, when making your pick.
When seeking for a list of bank identification numbers, there are several features you should emphasize on to avoid fraudulent participants. The first aspect is the bank identity number, which should be the first bolded six digits on the card. This is the first noticeable feature, in the list of bank identification numbers.
List of Bank Identification Numbers - The Numbers & Codes
Card numbers are used to give you an idea about different cards, depending on their use. International List of bank identification numbers has unique numbers, for each category of the cards. The visa cards first numeric digit is always the digit 4, whereas for master cards it extent from fifty one to fifty five. These are international codes, which makes it possible for computers to accept and read the cards globally. With the list of bank identification numbers in mind, you can be able to tell legitimate issuers from fake ones.
The list of bank identification numbers also indicate the origin of the country, the institution that issued the card and the type of card it is. Electronic cards have become versatile nowadays than before. Each bank has their own plastic money that they offer to their clients. Some are well Bin database managed, while others are not. The list of bank identification numbers plays a major role to merchants.
List of Bank Identification Card Numbers - The Purpose They Serve
List of bank identification numbers also validate the Api address of the institution that offered the card to the cardholder and limit standards of the card. Meaning that, whether the card is internationally used or locally. It may as well be a debit card or credit card. Although, master cards starts with two units, the list of bank identification numbers still serve the same purpose as that of Visa cards.
List Of Bank Identification Numbers - Plastic Money Vs Paper Money
The list of bank identification numbers can encrypt a bin database with approximately seventy five thousand usage records of cards for domestic use. This means that most people prefer plastic money rather than paper money; after all, it is much more secure since you can use it at any point of sale. The list of bank identification numbers also adhere to the same terms and rules, which govern the subscription of every card. There is another brand, which has become globally used and features in the same category of master cards. This is the American express, which also possess a list of bank identification numbers of the card issuer, point of sale and origin.
