What Is a Bank Identification Number (BIN)?

A bank identification number (BIN) is a six-digit number used to identify issuers of payment cards. Bank-issued debit cards, credit cards, prepaid debit cards, gift cards, and electronic benefit cards may have bank identification numbers.

Bank identification numbers allow the tracking of electronic transactions, since the numbers are unique for each card. This can be useful for tracking identity theft and fraud cases. If you use payment cards, it helps to understand what a BIN is and why it is important.

Definition and examples of bank identification numbers

A bank identification number is a set of digits used to distinguish one payment card from another. Specifically, a BIN is the first six digits printed or engraved on the front of a payment card. Bank identification numbers can also be called Issuer Identification Numbers (DCI).

You can find BIN in:

Debit cards linked to a checking or money market account
Credit cards
charge cards
Prepaid debit cards
Gift cards
Electronic benefit cards
Health payment cards (such as a health savings account (HSA) debit card)

This numbering system was developed by the American National Standards Institute (ANSI) and the International Organization for Standardization (ISO).

These organizations create business and industry standards in the US and internationally, respectively. These standards include the issuance of bank identification numbers and issuer identification numbers.

Bank identification numbers serve an important purpose. They are used to connect card-based transactions with card issuers.

Issuer identification numbers are unique, as no two card issuers have the same number. This is what makes it easier to differentiate card issuers if you are familiar with how BINs work.

Alternative name: Issuer Identification Number (DCI)

Acronym: BIN

The sequence of digits in a BIN is important in determining where the card comes from and what type of card it is. If you have the BIN of a card, you can use an online survey tool to determine:

Who is the card issuer (i.e. Visa, Mastercard, American Express, Discover)
Either a debit or credit card
Be a prepaid card
Where the card issuer is located
The sender's phone number.

Here are some examples of how a BIN works. Let's say you have a debit card with this BIN: 413572. If you type this into a BIN lookup tool, you will find that this card was issued by Bank of America. It is a Visa brand debit card issued in the USA.

Now suppose you have a card with this BIN: 37618. If you enter this in the BIN lookup tool, you will see that this card is issued by American Express. Specifically, it is a credit card issued in Japan.

Bank identification numbers ensure that the correct account is debited or credited when making a card transaction, helping to prevent fraud.

How Bank Identification Numbers Work

The Bank Identification Number or Issuer Identification Number System is a global numbering plan used to identify card issuers.

When you use your debit or credit card to make a purchase online or in a store, BIN is used to determine the issuer of the card. The remaining digits on the card are used to process the transaction.

All of this happens through an electronic payment processing system. This system involves the merchant, their payment processor, the issuing bank, and the merchant's bank.

BIN is used as a marker to verify the authenticity of the transaction. In other words, this is how each party ensures that no fraud occurs.

If you enter the bank identification number incorrectly when shopping online, the transaction may be declined.

Traditionally, BINs have the first four to six digits of a payment card number. Starting in April 2022, this should change.

Due to the unavailability of new INNs, bank identification numbers will begin to use eight digits. This won't change the way your card works, but it has implications for payment processors and card issuers.

Card issuers and payment processors will continue to support six-digit BINs, but new cards are expected to use the eight-digit system.

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