10 questions and answers you should know if you want to start using Bizum

Since its departure in 2015, this instant payment service has more and more users. With 474 million transactions in 2021 and more than 20 million users in Spain alone, more and more people want to get hold of this system. Here we leave you 10 questions and their answers in case you still have any questions.

With just 7 years of existence, the platform now faces the challenge of maintaining its great success based on continuing to increase its users and access possibilities, such as joint purchases to distribute expenses or implement the payment system in companies.

However, there are still doubts in those who still do not have Bizum. We leave you with the 10 most frequently answered questions.

What is Bizum?

Bizum is an instant payment platform that is easy, intuitive and very comfortable for day-to-day use.

They are currently working on improving the system. It is expected that in this year institutional payments, of the jump abroad or Bizum’s solo app.

What requirements are there to be able to use Bizum?

Bizum is not a smartphone application, so you don’t have to download anything. What you do need is to have your bank’s app because operations are done from there.

Most Spanish banks have this service, so look for the button to send and receive money with Bizum and activate it.

What banks can it be used with?

Bizum is available to clients of CaixaBank, BBVA, Santander, Sabadell, Bankia, Popular, Kutxabank, iberCaja, Bankinter, Laboral Kutxa, cecabank, CajaSur, imaginbank, officinadirecta.com.

We can also find them in Caja Rural, Unicaja, yopago, Abanca, BMN, Liberbank, mediolanum, EVO, Caja de Ingenieros, cajalmendralejo, España Duero and Openbank.

Soon it will also arrive at Deutsche Bank.

What does Bizum currently offer?

This service offers the possibility of making transfers instantly to whoever you decide. You only need the recipient’s mobile number.

You can also make donations to NGOs and pay for your purchases online.

Is free?

Yes it is totally free for self-employed workers and individuals.

This is a great benefit by saving you the possible commissions for habitual transfer between banks.

Do you have any limits?

This service offers some limit depending on the bank with which you operate, since in the end it is these that decide the maximums and minimums.

We leave you this news with the latest updates regarding the limits.

It is safe?

Bizum is integrated into the mobile application of each bank, so the quality will be the same as those apps.

Likewise, we first need the online banking credentials to be able to access and then a PIN to validate each operation, which is also verified by means of an SMS sent to the associated telephone number.

Can I make a Bizum to a person with an account abroad? What if you have a foreign mobile phone?

Service still not available for bank accounts outside of Spain.

As for the telephone, there would be no problem if he is a foreigner but has a Spanish bank account associated with him.

Can I make a Bizum to a person who does not have the service?

The answer is yesJust enter your mobile phone number in the application and a message will be sent inviting you to join this service.

But nevertheless, from Bizum they alert us that if what you want is to send money, it will remain pending until the person registers, within a maximum period of 7 days, if it is not canceled. On the other hand, if you want to receive money from someone who does not have Bizum, the same situation occurs.

How can i drop out?

From their website they inform us that if you wish to unsubscribe it’s as simple as doing it through the same channels for which you signed up. You can also go to your bank office if you have questions.

If you still have any questions, you can go to its official website, to the frequently asked questions section that we leave you next.