The BIN database or bank identification number database is a very important system. The BIN can also be referred to as the IIN which stands for issuer identification number. When you use your debit or credit cards at a retail store there is something that is tracking your purchase. It is the BIN database. How does this work you might ask? Well it works like this, when you receive a credit or debit card your card is issued to you with a series of numbers. The first 6 numbers located on the front of your card is the BIN or IIN. These numbers are important because they let the database know where the card was issued from. This makes for better networking because it allows your transaction to be completed fairly quickly. The last series of numbers located on your card are referred to as the card identification number. The BIN or IIN database makes it harder for credit card scammers to be able to commit credit card fraud. Before the BIN or IIN database it was fairly easy to commit these crimes because the credit card system was not yet sophisticated enough to quickly access the information from the issuer of the card. Nowadays you have the BIN or IIN database to help and monitor these transactions a lot faster than before. If a credit or debit card is reported lost or stolen the BIN or IIN database will suspend the use of the card so virtually eliminating the possibility of it being used for fraudulent purchases.
Now we have access to the BIN or IIN lookup. This is where you can lookup information on a card from simply entering the first 5 digits of the series of numbers located on the card itself. It is perfectly legal because you cannot commit credit card fraud with just the first 6 digits of a credit or debit card. The BIN or IIN lookup is just for indentifying the issuer of the first 6 digits of the credit or debit card that is being looked up. To lookup a particular card you need to do a BIN number search. It is just entering the 6 digits of the card and the BIN or IIN lookup will provide you with the card issuers information, a phone number for the card institution and the card type. This is helpful because you get a general idea of the card that is being used but not enough information to commit credit or debit card fraud. The card identification number is not used in the bank identification number or issuer identification number lookup. This is because it would be a way for scammers to get information about the owner of the card and be able to fraudulently use the credit or debit cards. Using the bank identification number database or issuer identification database is supposed to be a secure way to do a BIN or IIN lookup.
The card identification number is unique to the cardholder themselves. This is the series of numbers followed by the first 6 BIN or IIN that is at the beginning of the card number. The BIN or IIN database uses this information along with the bank identification number or issuer identification number to speed things along when you are purchasing something with your credit or debit card. The BIN or IIN database is rapidly being utilized and very common by the seller and the purchaser. Credit and debit cards are being used more and more each day and we depend on these cards for purchasing products every day.