My Merchant Account Blog
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Bank Identification Number
Friday, February 18, 2011
A numerical code assigned to each federally insured financial institution for the routing of transactions and other purposes. Independent Sales Organizations (ISO) and Merchant Level SalespersonsMLSs board merchants using the BINs of their respective acquiring banks.
As we discussed earlier in How Credit Card Numbers Are Determined, the card assocations (Visa, MasterCard, Discover, American Express, etc) all have a unique way of starting their account numbers for consumers. However, they all have something in common: the way the number is determined, called the mod-10 or Luhn's method.
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My Merchant Account Blog Recent Entries
- Visa Chargeback Reason Code 75 - Transaction Not Recognized
- Visa Chargeback Reason Code 74 - Late Presentment
- Visa Chargeback Reason Code 73 - Expired Card
- Visa Chargeback Reason Code 72 - No Authorization
- Visa Chargeback Reason Code 71 - Declined Authorization
- Visa Chargeback Reason Code 62 - Counterfeit Transaction
- Visa Chargeback Reason Code 60 - Illegible Fulfillment
- Visa Chargeback Reason Code 57 - Fraudulent Multiple Transactions
- Visa Chargeback Reason Code 41 - Cancelled Recurring Transaction
- PCI Compliance - A Review of Consumer Benefits
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