Bank Identification Number (BIN): All You Need To Know

Updated on: 6 Dec 2024

The bank number on a card is the first 4 to 6 digits mentioned on all payment cards. Also known as the Bank Identification Number or BIN for short, it is an essential component of your card number. It helps track stolen cards and reduces the chances of theft.

You’ll find the Bank Identification Number on various types of payment cards. These include:

Credit cards
Gift cards
Debit cards
Charge cards

Read on to learn what is BIN, where you can check BIN and more.

What is a Bank Identification Number on a Card?

The Bank Identification Number is a security measure that helps protect consumers as well as merchants engaging in transactions. It compares the data received from BIN to the data of the cardholder and hence, helps avoid identity theft, stolen card issues and credit card fraud.

Consider a bank card number example of 5656 3825 2209 1124. Here, the first set of four to 6 numbers is the BIN or the issuer identification number. A successful online transaction needs authorisation and clearance. This bank number on a card helps authorise the payment and identify the card issuer entitled to get the authorisation request for further verification.

The authorisation process includes a thorough check of the numbers against a third-party service provider. The payment processors of most e-commerce retailers check BIN against the maintained BIN lists.

What are the Benefits of a Bank Identification Number?

Here are a few advantages of this crucial bank number on a card:

It helps verify the identity of the purchaser
It helps avoid identity theft and other financial fraud
It confirms the validation of the transaction by requiring the purchaser to provide their credit card number and the card type
It saves time by checking whether an online merchant accepts a credit card before the authorisation request

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What is a Bank Identification Number Scam?

In a BIN scam, fraudsters pretend to be from your bank and say that your account information is compromised. They may provide your personal and financial details to gain your trust. Once they get you involved, they can extract additional details of your bank account.

Once they get this information, they will give you your BIN and request you to confirm the remaining digits of your card and other information. Remember, these fraudsters can also generate numbers from a valid BIN and test them to carry out online transactions to find an active number.

How to Prevent a Bank Identification Number Scam?

Merchants can avoid such scams by verifying transactions with the help of the BIN. They can identify potential fraud by checking the billing addresses and bank locations. Merchants can also contact the issuer for verification if they suspect any suspicious transactions.

Example of How a Bank Identification Number Works

To help you get better clarity on how BIN works, here is an example. Say you need to purchase a dress from an offline store in a mall. After choosing the dress, you decide to make the payment through your credit card. To do so, you need to swipe your credit card in their machine.

Once you swipe the card, the system determines the specific credit card issuer through BIN. The merchant then sends an authorisation request to your credit card account. The transaction gets authorised after the approval of the request. If the purchase amount is higher than your credit card limit, the request gets declined.

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FAQs on Bank Identification Number (BIN)

How do I find my Bank Identification Number?

The Bank Identification Number, or BIN, is a part of the bank number on a card. It is the first 4 to 6 digits of the number.

For instance, consider a bank card number example 3582 6674 3823 0191. Here, the first digit starting from 3 up to the digit 6 is referred to as BIN.

What is the Bank Identification Number in the passbook?

A Bank Identification Number, or BIN, is a set of 4 to 6 numbers that help identify the credit card issuer. You can check BIN on your credit, debit or other payment cards.

How many digits constitute a Bank Identification code?

A Bank Identification Number, or BIN, includes 4 to 6 digits.

What is a bank card number?

A bank card number is the unique identification number of a card issued by the bank. Credit cards, debit cards, and other such payment cards have a unique bank card number.

What is a Bank Identification Number?

A Bank Identification Number includes 4 to 6 digits that identify the credit card issuer. You can easily check BIN on your credit, gift or other payment cards.