Although at first it was received with certain reservations, the truth is that every day more people use Bizum as a payment platform between individuals through the mobile phone. Its main asset, along with immediacy (payment is processed in real time), is undoubtedly convenience. So much so that there are already many users who wonder what is the maximum Bizum that can be sent, in addition to other frequent doubts.
The widespread use of Bizum is displacing cash payments between individuals. And also, it is already beginning to be accepted as a means of payment in many businesses, although the latter is less common due to a series of system limitations. We are also going to talk about them in this post.
Moreover, Bizum is compatible with most of the banks that operate in Spain. In this way, sending, requesting and receiving money becomes a simple and fast task. Without complications. In addition, this system also allows you to pay at establishments attached to the platform (there are more and more) and even make donations to NGOs.
What is Bizum?
It is an "invention" of the Spanish bank. A platform that allows us to send money from our bank account to someone else's, or receive money from another user. Everything instantly.
But it is not just another payment platform. What makes it different from other mobile payment systems is that Bizum is not an independent application, but is integrated into the bank's own app. The great advantage of this is that our mobile phone number is automatically linked to your bank account. In this way, payment using the smartphone is instantaneous.
And also, it's a free service. You do not have to pay any fee to use it or apply any type of commission.
Operating with Bizum is very simple. In order to do so, the first step is to activate Bizum in the application of our bank that we have installed on the mobile phone. Each entity has its own rules, but the process is almost always the same. Basically, it is about clicking on the option that is already marked as “Activate Bizum” and confirm the following steps. From that moment on, we will be able to pay and receive money through this means.
Send money
Again, each bank has its own method, but the basic steps are always the same. The steps that we explain below correspond to the valid method for Caixabank, although it is very similar in the apps of other entities:
First we access our bank's app from our mobile using our password.
Then click on the option "Operate".
select «Bizum».
Click on the option "Send money".
Then we select the number of the recipient of the payment in our agenda or we write a new one.
On the next screen, we enter the amount (format: euros, cents) and press "OKAY".
Finally, We confirm the shipment of the Bizum.
Ask for money
For this you have to follow the same steps as in the previous case, only that in step number 4 we choose the option “Request money”. Then we select the number of the person who has to send us the shipment and enter the corresponding amount.
In both cases, the person who receives the payment or the payment request will receive an SMS notification.
Bizum maximum and minimum limits
Returning to the issue that concerns us in this post, it should be noted that Bizum cannot be thought of as a means of payment and collection similar to making a transfer, for example. There are some limitations, imposed above all by the bank that provides us with the service.
The minimum amount that this system sends is 50 cents, but, What is the maximum amount of Bizum that you can send? The correct answer may vary depending on each bank, but in general, the rules are as follows:
The maximum amount allowed to pay by Bizum in each operation is $1.000.
Operations can be carried out without any daily limit through Bizum, although the maximum daily amount cannot exceed 2.000 euros. For example, we could make two shipments of 1.000 euros, or four of 500 euros, but always respecting the daily limit figure.
El monthly limit shipments is 5.000 euros.
This is when it comes to sending money. But, Are there also limitations in terms of operations and amounts when receiving money via Bizum? Well yes. They are exactly the same that apply to shipments: a maximum of 60 operations per month and charges of up to 2.000 euros per day.
The only exception to these rules is when we use Bizum to make a purchase at a store. In this case, the maximum limit is the one set by each bank. Sometimes that limit can be negotiated, increasing or reducing it. In this link You can find a list of the shops where you can pay for Bizum.
Another exception is that of donations by Bizum. For this, the maximum limit is 1.000 euros, with no limit on operations.
