The benefits of Bizum show us that it is a instant payment service that allows money to be sent between holders of bank accounts registered in Spain. Several companies joined this project and for this reason it also facilitates purchases in affiliated establishments. There are certain requirements to use Bizum and in this guide we show you the available options that you can take advantage of.
Is it possible to use Bizum without a bank account?
The payment platform allows instant operations. However, users must comply with a set of Requirements to be able to use the tool No problem. One of them is the essential use of a bank account, since you can access Bizum from its App.
Therefore, it is not necessary to download any application for your mobile device, since you only require the option of the on line bank and locate the service there. This means that it is essential that the entity where you registered your account is linked to the platform. Once you verify this association, you will have to activate Bizum from the App.
Most Spanish banks offer this payment alternative to his clients. You just have to select the phone number of the recipient to whom you want to transfer an amount. There, you will see the list of contacts that you save on your cell phone. In fact, it is possible to add a new one before making the transaction.
The receptor receive a text message with information on the amount and the issuer. This is one of the advantages of Bizum, that it simply notifies the person of a new transaction. It is only recommended to take into account this detail, that when the shipment is made, both users must have the app enabled. Otherwise, the amount returns to the issuer.
Can a money transfer be made through Bizum to someone who does not have an account?
It is not possible to carry out this operation successfully without a bank account. Both the person who sends and who receives must have one in Spain and join the platform. There are more than 29 institutions linked to this service. You can even make payments with Bizum from wherever you are in the world without adding commissions.
However, it should be noted that if you want to send money to a family member or a friend, you do not need to create a user or download an App. You can activate Bizum to make transfers, the receiver will receive the money immediately. If this does not happen, you must request receipt of payment from your bank.
Online purchases and donations to NGOs are also made under the same scheme. Bizum presents certain limits on your transactions. The minimum value that can be transferred is €0.50 with a maximum of €1,000. About the charges, the upper and lower amounts are €2,000 and €1,000.
What to do if I send money to someone who does not have a Bizum account?
The service handles notify automatically via SMS to the mobile of the recipients. The recipient will have two days to accept the transfer and start using Bizum with all its benefits. If you do not have a linked account with Bizum, the amount will return to your monetary balance. Therefore, there is no risk of losses in the process.
Make sure to update your bank’s App periodically, since Bizum frequently generates maintenance. Thus, you can access new features available for users inside and outside of Spain. The platform facilitates fast operations with 30 recipients. While traditional transfers have no limitations.
Can I use a Bizum account without having a phone number?
It is impossible to access the platform without having a phone number associated with the tool. This happens because the service works only through the P2P method. In this way, a guaranteed higher level of security to users. It should be noted that the cell phone is a fundamental requirement to take full advantage of the tool.
If the recipient does not have a bank account or a cell phone number, the platform will not fulfill its function. Given this circumstance, you should look for other forms of payment similar to Bizum that facilitate online operations without the requirements stipulated by this company. Remember that the sending and receiving digital money It must be safe, fast and efficient.