Bank identification number (BIN) is a 4-6-digit digital sequence and is the identifier of the issuing bank or other financial institution. BIN is the link between the card and the bank that issued it.
What does each BIN number mean?
The first number on the card indicates the payment system that services the card. Visa cards start with 4, MasterCard – 5, American Express – 3. Cards can be issued not only by banks. In this case, the first digit will have a different designation.
The second, third and fourth digits are the number of the issuing bank that issued the payment card.
The fifth and sixth digits are an additional identifier for the credit institution. These six digits are the Bank Identification Number.
The seventh and eighth digits indicate the program according to which the bank issued the card. The rest of the digits, except for the last one, are the individual card number.
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