Bizum is a mobile payment platform, in this sense, it allows users to registered can send or receive money from one bank account to another. The process is effective instantly and only the phone number is required. For this reason, it is worth knowing what Bizum is, what it is for and how safe it is to send money.
Why should I be registered in Bizum?
Just as we can make transfers with Zelle, it is feasible to generate instant payments safely with Bizum. This system is linked to most banking entities and facilitates transactions for free. In addition, you can buy things online or pay your purchases in affiliated establishments to this service.
Requirements that must be met to have a Bizum account
It is necessary that you have an account in a bank compatible with the medium, download the application of said entity and activate the tool using your cell phone number. These are the only essential requirements in order to take advantage of this payment option.
Procedure to register in Bizum
It is not necessary to carry out any particular process in order to register on the platform. Just verify the associated bank and then activate Bizum using the bank’s App. Thus, you will be able to follow a series of instructions with the purpose of complete any transfer.
What to do to link my bank account in Bizum?
Linking is very simple and consists of carrying out the tool download available to the banking entity linked to the platform. Then, look for the ‘Transfers’ section and select the ‘Activate Bizum’ option. Then follow the steps in the wizard to complete the procedure.
How to send and receive money through Bizum?
The issuance and receipt of money under this modality they depend on the App of the financial entity. In general, it is enough to access it through your credentials and open the menu. Choose the operation you want to execute, click on ‘Bizum send/receive money’ and enter the data depending on the action you want to achieve.
How to send money in Bizum?
Once you have activated this alternative from your bank’s application, access the operations section and click on ‘Send’ Enter the recipient’s mobile number and the amount. it’s possible fulfill a monetary remittance through this system as long as the recipient has active service.
It should be noted that the mobile utility allows add multiple users from the agenda or manually. The amount is expressed in numerical values and the concept is an optional field in which there is a limit of 35 characters. Press the ‘Continue’ button before proceeding.
What to do to receive a money transfer by Bizum?
Receiving money through Bizum is a very easy task. In this regard, it is important that you tell your phone number to the sender. Just when this person sends you an amount, you will receive a text message in which they will notify you that they have sent you a payment with a specific contribution.
On average, how long does Bizum take to reflect a money transfer?
Often a delivery or acceptance of an amount online from said system it is verified at the moment in which the SMS is received. This is the way to confirm that everything has been executed correctly. However, if there are delays, check the effectiveness of your internet connection, as well as possible crashes of the mobile application server.
What is the maximum amount of money that can be sent through Bizum?
As in other options of this type, there are certain obstacles. In this regard, the upper limit of transfer amount It is 1000 euros per day. While each client can receive up to €2,000 per day. The total operations available per month is 150.
Is making shipments and payments through Bizum really safe?
Consumer protection is one of the most striking issues on the platform. This aspect is related to the parameters used by banks in the use of the online application. Reason for requesting a PIN that allows to validate each operation and verification is added through SMS in order to refer to the cell phone affiliated with the service.