Key Takeaways

1
Credit Cards Numbers Aren't Random.
Credit card numbers aren't totally random. All cards issued follow a specific format, and have a unique 16 digit number, generated via the Luhn Algorithm.
2
The Bin Number.
The first 6 digits on a credit card are the BIN number. They contain information about the card such as which bank issued the card.
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Hello, David here at Merchant-Accounts.ca. This will be a pretty short one today. What is a Bank Identification Number BIN for a credit card? Stay tuned. We'll dig in in one second.

In credit card processing the BIN is the Bank Identification Number.

Credit Card Numbers

Credit card numbers are not random. Every credit card issued has a specific but unique set of numbers, generated by an algorithm called the Luhn Algorithm. If you've ever been filling out a website and it's validating the card number as you're typing it in, that's the Luhn algorithm in action. It's a basic check to see if the card appears valid.

What is a BIN number?

BIN Number stands for Bank Identification Number. Credit card numbers are 16 digits long, and the first several digits of number contain a whole bunch of information about the card. Specifically, it's the first six digits of the number that are known as the BIN, and that is what we're talking about.

If a credit card starts with a 3, it's an Amex or a Diner's Card. If it starts with a 4, it's a Visa. If it starts with a 5, it's a MasterCard. If it starts with a 6, it's a Discover. The next several digits are going to give more information.

The first thing it will identify is the issuing bank. For example, a Visa that starts with 4520. That's going to be a TD Canada Trust Visa card, meaning TD Canada Trust issued that Visa card. It can also identify, sometimes, the type of card, for example, a Visa Infinite card or a Visa Business card. In some cases, it can also indicate whether it's a debit card, a prepaid card, or a credit card, but not always. It depends on the bank because not all financial institutions build the card out in the same way.

Credit card BIN lookup example.

Bin Check

If you have the first 6 digits of a card you can use a BIN check service to find out more about that card. There are a lot of free online services that you can use and just type in the number. It will tell you who the issuer is.

In some cases, it's really good as an anti-fraud tool. For example, if you have a customer and they typed in their shipping address to the US, but the card was issued in Malaysia, then that's a pretty good indicator. It doesn't mean that it's fraud, but it's worth investigating. To look up the BIN, you can go to Google, and you can use any number of online services. I'm not sure which ones are the best, so I'm not going to recommend one over another.

There are some services where you can sign up for an API, and every time you run an order, you can do a bin lookup for that transaction, and it will tell you who the card issuer is. If desired, merchants can build it into their anti-fraud system, but that's probably only for larger or more sophisticated merchants, but it is an option.

Summary

In summary, a credit card BIN, or more accurately, a bin range refers to the first six digits on a credit card. It indicates the brand of the card, Visa or MasterCard, which bank or financial institution issued that card, in what country, and possibly what type of card it is (like an infinite card or reward card, a debit, or a credit card).

With that, I don't think there's much more I can say except that if you would like a quote for payment processing for your business, we work super closely with our clients at Merchant-Accounts.ca. We'd love to hear from you. Reach out to us on our website. Other than that, thanks for watching and have a nice day. Bye now.