subject: A Bank Bin Database Holds Important Information [print this page] A bank bin database holds important information related to a credit card that has been issued by a bank in any part of the world. The records in the bank bin database are created around the first six prefix digits of the credit card. These numbers are so unique that no two credit cards can have the same set of numbers.
How to identify the bank?
The first four digits of the bank bin database are unique and help in identifying a bank. So, if you are looking to find out which bank has issued a particular credit card, you can use the bank bin database and look for these four numbers.
Identify card type
At the same time, the bank bin database will also, for example, hold different information related to an ING bank credit card that was issued by a Romanian bank and also to a card from Holland which relates to the same bank. The fifth and sixth digits are very important and are also very useful for those who are using a bank bin database. These numbers help in identifying a card type and to provide essential details related to the card holder.
Users (including online merchants) do not have to worry about finding out how these bank bin database numbers are read or even interpreted. All this is handled by the bank bin database.
Effective tool
The good part about using a bank bin database is that it is an effective tool that helps in preventing credit card which is a huge scourge today with people from the top to the bottom being involved in it in one way or another. Since there are many loopholes that can be used by fraudsters many individuals, officials and even the people at the top have used these loopholes to their advantage.
The end result is that there have been frauds that have cost the ordinary individual and governments a lot of money. When a merchant that accepts credit card payments, it is in their best interests to check that the credit card that has been presented by a customer is genuine. This can best be done with the help of a bank bin database.
It is also important to use the right bank bin database. The right one is one that is large and holds hundreds and thousands of records for banks from different parts of the world. A manual check of a bank bin database is very tiring and generally not very fruitful. It therefore makes sense to use an automated means of checking a bank bin database as it will do the job more effectively and with less bother or fuss.
A good and complete bank bin database can provide details regarding the credit card in an instant and you can easily find out the issuer of the card and the bank that issued the card as well as much more. With the help of a bank bin database, you can easily identify a particular credit card and ascertain its authenticity. The sooner you start using a bank bin database, the better it will be for you and your business.
