What Are bin Use For and what can I use only bin to cash Out
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Bin is the identification number of the card, usually the first 6 digits of the card. Knowing only the bin, you cannot cash out the card.
In order to cash out the card, you need to know the minimum data:
- card number (16 digits)
- card expiration date (month and year)
- security code (CVV)
Verified sellers and stores will provide them in a format that will also include the owner's full name, address, and phone number.
Knowing good bins, you can choose cards with a higher balance or without a security code vbv or mcsc (when paying for which the code is not sent by SMS to confirm the payment).
What is a Bank Identification Number (BIN)?
A bank identification number (BIN) represents the first four to six digits on a credit card. The first four to six digits identify the financial institution that issued the card. The BIN is a security measure to protect both consumers and merchants engaging in online transactions. It can provide useful information to identify cases of identity theft, stolen cards, and fraud by comparing the data obtained from the BIN to the card holder’s data.
In addition to identifying the financial institution, the BIN can track the geographic location of the bank that issued the card. Participants in online transactions can detect cases of fraud and identity theft by matching the geographic location of the cardholder to the location provided by the BIN.
Since other financial institutions aside from banks also issue cards, BIN is also known as an issuer identification number (IIN).
How Do Bank Identification Numbers Work?
The first character of the BIN is called an industry identifier. It is used to identify the industry of the issuing company. For example, cards that start with a 4 or 5 belong to banks and financial institutions. Similarly, other numbers are reserved for other industries, including airlines, entertainment, and hospitality. The remaining five digits of the BIN identify the card-issuing institution.
The first section of the Bank Identification Number identifies the location of the bank that issued the card, while the latter portion identifies the specific name of the bank. BINs are traditionally used by online merchants as a way to detect fraud by matching the geographic area where the cardholder is located to the geographic area identified in the Bank Identification Number. The term Issuer Identification Number (IIN) and Interbank Card Association Number (ICA) also refer to this same collection of numbers. A personal identification number or PI identifies a cardholder.
A BIN helps track the origin of a consumer’s funds. When a credit card is swiped, the card machine scans the BIN and identifies the account associated with it. Once it identifies the account associated with the card, it puts in a request to withdraw funds from the account to complete the transaction.
The issuer of the card takes only a few seconds to approve the request. The process is generally automated. In some cases, for example, the request gets denied if the value of the transaction is greater than the daily withdrawal limit.
The BIN is extremely important because, without it, credit card machines and online payment platforms will not be able to identify the account from which the money needs to be debited, and the transaction will not take place.
Every online purchase that requires a payment is completed through a two-step process: authorization and clearance. A BIN works to complete the first step in the payment process: authorization. The BIN identifies which issuer, typically a bank or credit card company, should receive the request for authorization to determine if the account or card is valid and whether the amount of the purchase is within available limits on the card.
The authorization process happens very quickly behind the scenes as numbers are checked against a third party service provider. For many ecommerce retailers, their payment processor handles BIN checks against BIN lists they manage or subscribe to.
Importance of Bank Identification Numbers
BINs not only identify the card-issuing institution and their location but also make the data known to the person engaging in the transaction. It helps the participants in online transactions to verify the information and identify cases of fraud, stolen cards, and identity theft.
Let us consider an example of a consumer making an online purchase. Once the consumer enters his card number, the online retailer can identify the financial institution that issued the card and their location. While it does not help in itself, the online retailer can match the information to the location on the customer’s profile. It can help in verifying the authenticity of the transaction.
After cross-checking the information, if there is any reason to believe that the transaction is a fraud, the online retailer can investigate further. Similarly, consumers transferring funds to merchants through online banking can verify the merchant’s information before proceeding with a transaction.
In a world where trade and commerce are continuously moving online, BINs play a very important function by protecting both merchants and consumers. They are critical to ensuring that online transactions flow smoothly.
A Bank Identification Number, or BIN, works to protect both merchants and consumers in the online marketplace. Every credit or debit card contains a BIN, typically the first four to six numbers on a bank-issued card. These numbers easily identify the type of card being used, the geographic location of the card issuer and which bank or company issued the card.
A bank identification number (BIN) is used to uniquely identify each bank or financial institution within the card networks. BINs are used to identify both issuers and acquirers.
Since cards can be issued by entities other than a bank–American Express, for example–Issuer Identification Number (IIN) is often a more accurate term.
How are BINs used?
Merchants most commonly use BINs to identify the bank that issued a given card. They use this information to submit authorization requests and ensure payment settlements are routed to the correct institution. Merchants might also analyze chargeback data by BIN to determine which institutions process the most chargebacks.
Major Industry Identifier (MII)
The first six digits of a cardholder’s account number reveal the issuer’s BIN. The first digit in the six-digit BIN is called the Major Industry Identifier (MII) and describes the issuer’s industry. The MII also helps identify the card association the issuer is a member of.
0
Issuer’s Industry: ISO/TC 68 and other industry assignments
1
Issuer’s Industry: Airlines
Card Network: UATP
2
Issuer’s Industry: Airlines, Financial, Other future industry assignments
Card Network: MIR, Mastercard
3
Issuer’s Industry: Travel and Entertainment
Card Network: American Express, Diners Club Carte Blanche, Diners Club International, JCB
4
Issuer’s Industry: Banking, Financial
Card Network Visa
5
Issuer’s Industry: Banking, Financial
Card Network: Mastercard, Diners Club US & Canada, Maestro, Dankort
6
Issuer’s Industry: Merchandising, Banking, Financial
Card Network: Discover, China UnionPay, InterPayment, InstaPayment
7
Issuer’s Industry: Petroleum, Other future industry assignments
Card Network: None
8
Issuer’s Industry: Healthcare, Telecommunications, Other future industry assignments
Card Network: None
9
Issuer’s Industry: Reserved for assignment by national standards organizations
Card Network: None
You can find out in more detail what a bin is in this thread:
In order to cash out the card, you need to know the minimum data:
- card number (16 digits)
- card expiration date (month and year)
- security code (CVV)
Verified sellers and stores will provide them in a format that will also include the owner's full name, address, and phone number.
Knowing good bins, you can choose cards with a higher balance or without a security code vbv or mcsc (when paying for which the code is not sent by SMS to confirm the payment).
What is a Bank Identification Number (BIN)?
A bank identification number (BIN) represents the first four to six digits on a credit card. The first four to six digits identify the financial institution that issued the card. The BIN is a security measure to protect both consumers and merchants engaging in online transactions. It can provide useful information to identify cases of identity theft, stolen cards, and fraud by comparing the data obtained from the BIN to the card holder’s data.
In addition to identifying the financial institution, the BIN can track the geographic location of the bank that issued the card. Participants in online transactions can detect cases of fraud and identity theft by matching the geographic location of the cardholder to the location provided by the BIN.
Since other financial institutions aside from banks also issue cards, BIN is also known as an issuer identification number (IIN).
How Do Bank Identification Numbers Work?
The first character of the BIN is called an industry identifier. It is used to identify the industry of the issuing company. For example, cards that start with a 4 or 5 belong to banks and financial institutions. Similarly, other numbers are reserved for other industries, including airlines, entertainment, and hospitality. The remaining five digits of the BIN identify the card-issuing institution.
The first section of the Bank Identification Number identifies the location of the bank that issued the card, while the latter portion identifies the specific name of the bank. BINs are traditionally used by online merchants as a way to detect fraud by matching the geographic area where the cardholder is located to the geographic area identified in the Bank Identification Number. The term Issuer Identification Number (IIN) and Interbank Card Association Number (ICA) also refer to this same collection of numbers. A personal identification number or PI identifies a cardholder.
A BIN helps track the origin of a consumer’s funds. When a credit card is swiped, the card machine scans the BIN and identifies the account associated with it. Once it identifies the account associated with the card, it puts in a request to withdraw funds from the account to complete the transaction.
The issuer of the card takes only a few seconds to approve the request. The process is generally automated. In some cases, for example, the request gets denied if the value of the transaction is greater than the daily withdrawal limit.
The BIN is extremely important because, without it, credit card machines and online payment platforms will not be able to identify the account from which the money needs to be debited, and the transaction will not take place.
Every online purchase that requires a payment is completed through a two-step process: authorization and clearance. A BIN works to complete the first step in the payment process: authorization. The BIN identifies which issuer, typically a bank or credit card company, should receive the request for authorization to determine if the account or card is valid and whether the amount of the purchase is within available limits on the card.
The authorization process happens very quickly behind the scenes as numbers are checked against a third party service provider. For many ecommerce retailers, their payment processor handles BIN checks against BIN lists they manage or subscribe to.
Importance of Bank Identification Numbers
BINs not only identify the card-issuing institution and their location but also make the data known to the person engaging in the transaction. It helps the participants in online transactions to verify the information and identify cases of fraud, stolen cards, and identity theft.
Let us consider an example of a consumer making an online purchase. Once the consumer enters his card number, the online retailer can identify the financial institution that issued the card and their location. While it does not help in itself, the online retailer can match the information to the location on the customer’s profile. It can help in verifying the authenticity of the transaction.
After cross-checking the information, if there is any reason to believe that the transaction is a fraud, the online retailer can investigate further. Similarly, consumers transferring funds to merchants through online banking can verify the merchant’s information before proceeding with a transaction.
In a world where trade and commerce are continuously moving online, BINs play a very important function by protecting both merchants and consumers. They are critical to ensuring that online transactions flow smoothly.
A Bank Identification Number, or BIN, works to protect both merchants and consumers in the online marketplace. Every credit or debit card contains a BIN, typically the first four to six numbers on a bank-issued card. These numbers easily identify the type of card being used, the geographic location of the card issuer and which bank or company issued the card.
A bank identification number (BIN) is used to uniquely identify each bank or financial institution within the card networks. BINs are used to identify both issuers and acquirers.
Since cards can be issued by entities other than a bank–American Express, for example–Issuer Identification Number (IIN) is often a more accurate term.
How are BINs used?
Merchants most commonly use BINs to identify the bank that issued a given card. They use this information to submit authorization requests and ensure payment settlements are routed to the correct institution. Merchants might also analyze chargeback data by BIN to determine which institutions process the most chargebacks.
Major Industry Identifier (MII)
The first six digits of a cardholder’s account number reveal the issuer’s BIN. The first digit in the six-digit BIN is called the Major Industry Identifier (MII) and describes the issuer’s industry. The MII also helps identify the card association the issuer is a member of.
0
Issuer’s Industry: ISO/TC 68 and other industry assignments
1
Issuer’s Industry: Airlines
Card Network: UATP
2
Issuer’s Industry: Airlines, Financial, Other future industry assignments
Card Network: MIR, Mastercard
3
Issuer’s Industry: Travel and Entertainment
Card Network: American Express, Diners Club Carte Blanche, Diners Club International, JCB
4
Issuer’s Industry: Banking, Financial
Card Network Visa
5
Issuer’s Industry: Banking, Financial
Card Network: Mastercard, Diners Club US & Canada, Maestro, Dankort
6
Issuer’s Industry: Merchandising, Banking, Financial
Card Network: Discover, China UnionPay, InterPayment, InstaPayment
7
Issuer’s Industry: Petroleum, Other future industry assignments
Card Network: None
8
Issuer’s Industry: Healthcare, Telecommunications, Other future industry assignments
Card Network: None
9
Issuer’s Industry: Reserved for assignment by national standards organizations
Card Network: None
You can find out in more detail what a bin is in this thread:
