HomeBankingHow to use BIN Numbers to Buy Stuff 2022

How to use BIN Numbers to Buy Stuff 2022

Are you searching for the method for shopping using Bin number? Here, we will tell you the 100% working method that will enable you to buy stuff with BIN numbers.

Let’s get started and learn how to use bin numbers to buy stuff.

What is a BIN Number/Method?

BIN numbers or the Bank Identification Numbers are the starting 4 to 6 digits in your credit card. BIN numbers help to identify the financial institution which has issued the credit card. The numbers mainly protect the consumer and the merchant engaged in an online transaction. It helps provide information in case of theft, stolen cards, or fraud by comparing the data obtained by BIN to card holder’s data.

Additionally, the BIN number tracks the geographical location of the bank that has issued the card. BIN number also helps participants of the online transaction to detect theft and fraud by matching the geographical location.

In case of a credit card is issued by financial institutions other than banks, it is called IIN (Issuer Identification Number). Now that you know what is a bin number, let’s learn about its works.

How Do Bank Identification Numbers Work?

The starting 5 characters of the bank identification numbers are called the industry identifiers and are used to identify the industry of the card issuing company.

For example, if the card starts with 4 or 5, it belongs to the financial sector. In the same way, other numbers are reserved for different sectors like airlines, entertainment, etc. The remaining 5- digits of BIN identify the name of the institution that issued the card.

The BIN is used to track the origin of the funds. When you swipe the credit card on the machine, it scans BIN identifies the account linked with it, and then sends the request to withdraw funds from the account.

The card issuers take a few seconds to approve the request and deny if the transaction is more than the approved limit. The BIN is a vital element of credit cards to identify the account which will pay the bills.

Now that you know the basics about BIN numbers, let’s learn how to use bin numbers to buy stuff.

How to use Bank Identification Number (BIN) to Buy stuff?

Using the BIN number to buy stuff is easy, and you can use it without hassle. Follow the procedure mentioned below for how to use bin numbers to buy stuff:

  1. Firstly, get the 6-digit number (BIN) from the online generator according to the country and the bank.
  2. Choose a VPN, and the BIN number should be the same.

Let’s check out an example of using the BINS method for Scribd

  • Open your browser (preferably, Mozilla Firefox)
  • Generate Credit cards from the generator site.
  • Visit the Scribd website and click on the 30-day free trial
  • Sign up using free premium mail.
  • Enter credit card details you have generated
  • Here is your Scribd premium account, ready to use.

You can use a similar process for signing up for other websites using BIN. Hope now you know how to use bin numbers to buy stuff and can process easily.

What is a BIN Number Attack Fraud?

Have you heard about BIN Attack? let’s discuss what is a bin number attack in detail. Fraudsters use BIN numbers in scams known as BIN attack Fraud. They obtain a BIN and generate other numbers using the software. They test the numbers by doing small transactions until they get a valid and working card number.

How to identify BIN Attacks?

After understanding what is a bin number attack, it’s time to know how to identify it. Some signs indicate if there is a BIN attack or not. The signs are listed below:

  • Multiple slow valued transactions from your account.
  • Multiple declined transactions that are not done by you.
  • High international transactions.
  • Unusual transactions quantity.

Bank Identification Numbers РFAQs

What is a bank identification number (BIN) number?

Ans. BIN numbers are the first 4-5 digits of the credit card that identify the card issuing company. These numbers are fixed for industries like 4 and 5 are fixed for the financial sector.

What is the importance of a bank identification number (BIN)?

Ans. BIN number helps to identify frauds and protects the merchant and a card holder from robbery.

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FinanceGABhttps://www.financegab.com/
Ajeet Sharma, the founder of Financegab and a well-known name in the field of financial blogging. Blogging since 2017, he has the expertise and excellent knowledge about personal finance. Financegab is all about personal finance which aims to create awareness among people about personal finance and help them to make smart, well-informed financial decisions.

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