What are the steps to take, to prevent fraud, and scam cases from happening to you? If you are running an online business, this will be a very important question that needs to be answered. The first thing that any online business will want to look at will be a credit card bin database; you will be able to find this credit card bin database in a number of websites. It will be an easy thing to search for and you will even be able to download it, to use on your own computer.
Bin stands for Bank Identification Number; this is nothing more than the first six digits of the credit card. It will be found on all credit cards that are issued, and anyone who is serious about doing a transaction, will not hesitate to give you these numbers to verify. Using these six numbers that are found on the face of the card, you will be able to gather a lot of information about the card; this will give you an advantage in making the transaction safer, for both you and the other party.
The information that you will receive will be dependent on the bin database that you are searching on, when you are looking for a website to run this searches on, you will want to find a website that offers the biggest bin database. If you are using a free website that is offering this service, you will find that their bin database is rather limited and they might not be updated. If the free website is only able to run your search on a small database, this will give you results that will not be useful. In the worst case it might even give you wrong information, to prevent this from happening use only the biggest bin database for your searches.
As mention the website you will be looking for needs to be constantly updated, there are thousands of new credit cards that are flooding the market every single day. This means that the number of bin numbers should increase as well, if the bin database is not updated you will be unable to find newer cards. This will increase the chances of making a bad choice, when you decide to accept the transaction or not. This has to be avoided at all cost since it will do you more harm the good.
Free websites that offer the credit card bin database are not always a good thing; to be honest they have a number of drawbacks that make them unusable. When it comes down to the safety of the transaction you are making and it involves money, I will not mind spend a small amount just to make sure I am guarded against scams or frauds. The industry is losing millions of dollars every single year from scams and frauds, don’t fall victim to these criminals and guard against them. Using the credit card bin database to check the cards being used will be a better idea, when you compare it to facing charge backs from the bank.