Bank Identification Number (BIN) | B2B Finance Glossary
Oct 10, 2023 by Zazil Martinez
What is a Bank Identification Number (BIN)? A Bank Identification Number (BIN) is a payment card's first four to six numbers. The first digit of this series works as the primary industry identifier, and the remaining digits signify the financial institution that issued the card. All Visa cards, for example, start with a four since this number identifies the banking and financial category. These numbers make it easy to trace cards and transactions back to the card issuer, and they can be found on credit cards, debit cards, charge cards, prepaid cards, and gift cards. Additionally, BINs are sometimes referred to as Issuer Identification Numbers (IINs) because cards can be issued by institutions other than banks.
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