Find My Bin has developed a service to identify bank card details by BIN. Based in Dallas, Texas, the company was founded in 2016 by a group of young programmers and has been providing a great service to anyone for free ever since. Our service is available worldwide.
Few bank card users know what a BIN card is. To transfer money between accounts, the card number, the name of the bank, the recipient's details and other details are used. The Bank Identification Number, also known as the BIN, contains the first 6 digits of the card number. It is a cipher that contains certain information about the bank.
What information does the BIN number contain?
This number is assigned to all credit and debit cards issued by any financial institution. There is no need for this information when making ordinary payments and settlements, it is much more useful to know about the BIN will bring when paying by credit.
Many banks do not consider the bank's BIN important and do not track its use. For this reason, a credit card can turn out to be a debit card, and vice versa. In some countries there is no significant difference when paying with a debit or credit card, but in the U.S. or European Union countries the fees are much higher when paying with a credit card. In this regard, many stores have requirements for the type of payment instrument.
Some low-cost airlines charge a higher fee if you pay with a card whose BIN is read as a credit card. In some European countries it is impossible to pay by credit card in stores intended for customers with low income.
How to decipher the BIN of the card
Any client who knows the purpose of the BIN can decipher it. The BIN data reveals:
- The type of MPS payment system. The most famous systems are Visa, American Express and MasterCard.
- The issuing bank of the card.
- Type of card (debit or credit). With a debit card you can pay or transfer money without limits, credit cards have limitations. For example, sometimes it is impossible to transfer money from it.
- Type of card (Maestro, Electron, Classic, Gold, Standard, Platinum).
- The country where the card is issued and its code. If the card is paid abroad the card can be erroneously defined as a foreign one.
- Hot line number. The service allows you to get a number to contact the bank's specialists.
If the card is lost, the BIN will allow to return it to the legal owner. It is necessary to determine the bank, then the bank will find its client. When making payments, in addition, the issuing bank is determined. When buying goods on the sites the payment form appears, where it is necessary to specify all the information.
How does the BIN of the card work
When identification takes place using a card reader, the data of the chip and magnetic stripe are read. They are used to transmit data on various details, among them are the BIN numbers. All transactions are tracked by the type of payment instrument, type and cardholder. This way of reading information reduces the risk of fraud and speeds up data processing.
Previously it was impossible to find out any information from the bank's BIN. Now, thanks to the World Wide Web, there are various services: one has to know the BIN of the bank, enter it into search and get the data. The only disadvantage is that the information in such databases is rarely updated.
For individuals the information about what the BIN is and what it needs to be used for is not important. It is necessary to have an understanding of these figures, so as not to get lost in communication with bank employees or meeting this definition in the text of the contract. The bank's BIN is necessary only for the financial institutions and payment systems. This data helps them to make mutual settlements and adjust joint work.
If a bank customer pays for goods in an online store or books a service (tickets, hotel rooms, etc.), it is better to know the BIN information. You can find it on the front of the plastic card or go to a bank branch. In addition, clients of some banks have the opportunity to find out the BIN through online or mobile banking. But not for everyone. That's why there is a service Find My Bin.
To conclude
We would like to tell the whole world about our service, so we registered on Startus. We hope that we can bring more usefulness to our users, because nowadays such service is very demanded.
