BIN
Abbreviation with 2 meanings
| Stands for | Bank identification number |
|---|---|
| Meanings | 2 |
| Categories | Business & Finance, Writing & Everyday |
BIN has two meanings. It stands for Bank identification number (banking) or Buy It Now (classified ad).
Meanings of BIN at a glance
| # | BIN stands for | Context |
|---|---|---|
| 1 | Bank identification number | Business & Finance › Banking |
| 2 | Buy It Now | Writing & Everyday › Classified Ad |
1. Bank identification number
Business & Finance · Banking Abbreviations
First six or eight digits of a payment card number, identifying the card network and the issuing institution. Merchants and processors use BINs to route transactions, detect fraud and determine card type and country of issue.
Example: The fraud system blocked the order because the card's BIN belonged to a prepaid issuer in another country.
Formally called an issuer identification number (IIN) under ISO/IEC 7812. The industry moved from six-digit to eight-digit BINs from 2022 because of a shortage of numbers. Visa cards begin with 4, most Mastercard cards with 5 and American Express cards with 3. On e-commerce listings, BIN means "Buy It Now."
2. Buy It Now
Writing & Everyday · Classified Ad Abbreviations · also used in business
Names the fixed-price option on eBay and similar auction sites that lets a buyer purchase immediately instead of bidding. Sellers may offer it alongside an auction or as the only way to buy.
Example: The vintage watch sold in minutes at the $250 BIN price before any bids came in.
On an auction-style eBay listing, the Buy It Now option usually disappears once bidding begins. Collectors watching for rare items often set alerts for new BIN listings so they can buy quickly. In banking, BIN means bank identification number, the first digits of a card number.
Related abbreviations
More banking abbreviations
- BACS – Bankers' Automated Clearing Services
- BG – Bank guarantee
- BHC – Bank holding company
- BIC – Business Identifier Code
- BSA – Bank Secrecy Act
- BSB – Bank-State-Branch
- CAR – Capital adequacy ratio
- CASA – Current account and savings account
See all 80 banking abbreviations →