Bank Identification Number - BIN

AAA

DEFINITION of 'Bank Identification Number - BIN'

The first four to six digits of a credit card. The bank identification number identifies the institution issuing the card. It is critical to the correct matching of transactions to the issuer of the charge card.

This prefix system also applies to debit cards, charge cards and electronic benefit cards.

INVESTOPEDIA EXPLAINS 'Bank Identification Number - BIN'

Although it is called a bank identification number, BINs are also used by other institutions, such as American Express. As increasing numbers of issuers are opting into the BIN network, the term issuer identification number (IIN) is increasingly used interchangeably with BIN.

The prefix system is also used to help identify potential security breaches or identity theft, by comparing such things as the location of the issuing institution and the address of the cardholder.

RELATED TERMS
  1. Credit Card

    A card issued by a financial company giving the holder an option ...
  2. Charge Card

    A card that charges no interest but requires the user to pay ...
  3. Identity Theft

    The crime of obtaining the personal or financial information ...
  4. Offline Debit Card

    A card that combines characteristics of both a traditional (online) ...
  5. Account Number

    The primary identifier for ownership of an account, whether a ...
  6. Credit Limit

    The amount of credit that a financial institution extends to ...
Related Articles
  1. Insurance

    Identity Theft: How To Avoid It

    Don't be a victim of this disturbing crime. Get insight into how perpetrators commit this form of fraud.
  2. Credit & Loans

    Credit, Debit And Charge: Sizing Up The Cards In Your Wallet

    Not all plastic is equal! Learn the difference between the three kinds, and how each can affect your finances.
  3. Credit & Loans

    Take Control Of Your Credit Cards

    The plastic in your wallet doesn't have to hurt your finances. Learn how to manage it responsibly.
  4. Budgeting

    Should You Pay In Cash?

    Avoiding all forms of plastic payment can do wonders for your stress level and pocket book.
  5. Credit & Loans

    How Credit Cards Built A Plastic Empire

    A decade before Mastercard or Visa existed, the first credit card company was introduced.
  6. Options & Futures

    6 Major Credit Card Mistakes

    Avoid these pitfalls to keep your credit score healthy and your debt under control.
  7. Credit & Loans

    Capital One Cards: VentureOne Vs. Venture Rewards

    Which Capital One rewards credit card offers the best deal for you?
  8. Credit & Loans

    Credit Card Review: The Amazon.com Rewards Visa

    The rewards from
  9. Credit & Loans

    Credit Card Review: Southwest Rapid Rewards Cards

    Do Southwest Airlines' free checked bags make one of their credit cards a good choice for you?
  10. Credit & Loans

    Do lenders offer floating APRs?

    Learn about credit cards with floating, variable and fixed APRs. Explore introductory rates offered by two leading credit card issuers.

You May Also Like

Hot Definitions
  1. Multiplier Effect

    The expansion of a country's money supply that results from banks being able to lend. The size of the multiplier effect depends ...
  2. Command Economy

    A system where the government, rather than the free market, determines what goods should be produced, how much should be ...
  3. Prospectus

    A formal legal document, which is required by and filed with the Securities and Exchange Commission, that provides details ...
  4. Treasury Bond - T-Bond

    A marketable, fixed-interest U.S. government debt security with a maturity of more than 10 years. Treasury bonds make interest ...
  5. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  6. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
Trading Center