A number is used to identify a card issued by a bank or other financial institution. A BINS is a fulcrum that binds the issuer of the card issued to the transactions on the card.
The person receiving the call assures the caller that everything is in order and that the account is not compromised. The information provided states that the account has been cleaned up, it has a credit card and all sorts of goods have been debited. The only thing the caller doesn’t add is a word.
The first digit of your card is known as the most important industry identifier (MII), and we have ten in the range of 0 to 9. For example, numbers 4 and 5 falls into the category of issuers of bank and financial cards. Number 0 falls under the ISO TC-68 classification. The same applies to health cards and telecommunications.
The first digit of the recycle bin indicates the most important industry codes (MII) such as airlines, banks, and travel, while the next five digits indicate the issuing institution (bank). For example, Visa credit card MII starts at 4 am.
The term Issuer Identification Number (IIN) is increasingly used. This is reflected in the increasing number of non-bank institutions opting for the BIN network. However, the terms IIN and BIN are often used interchangeably.