Definitions for "Bank Identification Number"
Keywords:  mastercard, visa, bin, six, cardholder
an identification number consisting of a two-part code assigned to banks and savings associations; the first part shows the location and the second identifies the bank itself
The six-digit number assigned by Visa and MasterCard to identify a member (Issuer or Acquirer) or processor for authorization, clearing or settlement processing. The Issuer assigns the six digits as the first six digits of the card number. The Acquirer assigns the six digits as the first six digits of the merchant number. A Visa number always begins with “4”, MasterCard numbers with a “5”.
the first six digits of a credit card, debit card, charge card, etc. These identify the institution that issued the card to the card holder. Online merchants may use BIN lookups to help validate transactions. For example, if the credit card's BIN indicates a bank in one country, while the customer's billing address is in another, the transaction may call for extra security.