BIN act as one of the preventive measures developed to prohibit the credit card frauds. BIN stands for Bank Identification Number, which is now termed as Issuer Identification Number. BIN refers to the first 6 digits of a credit card.
Credit cards comprises of 16 digit number, where the first 6 digits plays an important role irrespective of the type of card held and the issuing authority and bank. The six digit number stands for the issuer’s identification in which the first digit represents and described as the Major Industry Identifier. The remaining digits of the credit card number which generally range up to 12 digits act as an identity for individual i.e. the card holders. Even though the credit cards are offered from the banking and non-banking institutions, they are generally issued through the exclusive network.
Bin also represents the institutions that issue the cards. Bin ranges list and regulates the credit cards issuance, starting with the same number for each card and every card issued by the respective institutions. For instance, Visa cards starts with 4. Majority of the issuing institutions print the first 4 digits of the card, i.e. the first 4 digits of the Bank identification number just below the embossed credit card number. It is extended for additional security.
For instance, if a Visa Credit Card, issued by Royal Bank of Scotland starts with 4147 as embossed on the card just below the embossment, the same digits are printed at the bottom left corner of the card.
The Bin ranges list for major credit card issuing institution includes the following:
*Bin ranges for Visa Card – Credit card numbers start with 4
*Bin ranges for Master Card – Credit card numbers start with 5, ranging from 51 – 56
*Bin ranges for Amex Card – Credit card numbers start with 34 or 37
*Bin ranges for diners club – Card numbers start with 36 or 38. However, there are few exceptions to bin ranges for Diners club cards, where the cards start with 5. In such case, it represents the ties between the Master Cards and Diners Club, and these cards are processed similar to a master card.
*Bin ranges for discover – Card numbers start with 6011 or 65
*Bin ranges for JCB – card numbers begin with 35
The above mentioned bin ranges list is provided in a narrow context of major credit card issuers, where the same can be expanded with respective issuing authority in association with other banking and non-banking institutions. For instance, JCB cards are issued by Korea Exchange bank, China Construction bank, Kookmin bank, etc. Similarly, master cards are issued by HSBC bank.
Bin ranges list of the credit card can be further classified based on the type of cards. It includes silver credit card, gold credit card, platinum cards, premium card, signature card, corporate card, etc. Each issuing authority along with the associated banks and credit card service providers offer different types of credit cards with different credit limits based in the bin ranges list.