Bank Identification Number (BIN)

What is Bank Identification Number (BIN)?Definition A bank identification number (BIN) refers to the first four to six numbers reflected on a bank-issued card. The first digit of the BIN represents the Major Industry Identifier (MII) such as banking or airline while the next three or five digits represent the card issuer. The number identifies the card type, geographical location of the card issuer, and the bank or company that issued the card. It is the key piece to matching card transactions to the issuer of the card. BINs are also referred to as issuer identification number (IIN) considering that…
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