\u00a0is a unique code assigned to every bank and financial institution that issues credit and debit cards. BIN numbers were developed by the International Organization for Standardization (ISO), a federation of national standards bodies. BINs are also known as Issuer Identification Numbers (IINs).<\/span><\/p>\nThe BIN code is the first six digits of a credit or debit card number and identifies the card issuer. You can use BINs with a BIN checker tool to check the card type and bank that issued the card. It is used to verify transactions when the card is used online or over the phone.<\/span><\/p>\nSince a BIN is unique to the bank that issued a card, BINs help merchants verify that a customer’s card is legitimate and helps prevent fraud. When a customer’s card is swiped, the BIN and the purchase amount are sent to the acquirer (the bank that processes the transaction). The acquirer then sends a request for authorization to the issuer (the bank that issued the card). If the issuer approves the transaction, it authorizes the purchase and sends a response back to the acquirer.<\/span><\/p>\n