Bizum is a mobile payment system in Spain that allows instant transfers between individuals and payments within businesses. simple and fast. It can be integrated into the applications of banking institutions that want to participate, allowing you to send and receive money using just the phone number.
It also makes it easier to donate to NGOs, Collect one tenth of the lottery and make payments at some establishments and online services. Bizum’s biggest advantage is its speed and ease of use, because it does not require sharing additional banking information or downloading extra applications, as it is built from the banking application itself.
This payment system is quite common in our country, and the number of people who do not know it or do not use it in their daily lives is rare. HeyBizum even has a version for minors. Therefore, you need to stay informed about all the news and updates on the platform as well as current information. fraud As we explained to you in this article, you may experience difficulties with this application. You also need to know that the Treasury tracks transfers, and here we explain whether these amounts need to be declared.
What is the maximum amount you can send between people?
The bizum blog states the exact number and quantities of bizums for your clarity:
- Limits per transaction: The minimum amount is 0.5 Euro and the maximum Bizum amount is 1,000 Euro.
- Bizum Number: you can send unlimited number However, you can send the maximum Bizum amount per day, which is 2,000 Euros.
- Monthly amount: In case of monthly limit, it has been determined that you can send Bizum in a maximum amount of 5,000 Euros per month.
Things change when it comes to donations. “You can donate up to 100,000 TL with Bizum. Amount of 1,000 Euros without limitation in operations. That means you can donate the Bizum amount up to a maximum of 1,000 Euros as much as you want and to all the NGOs you want,” explains the application’s blog.
Bizum Buyer
So what happens if you are the buyer of these Bizums? It’s actually very simple; In this case, there is no maximum amount because “the limit is relative to the maximum amount you set with your organization.” Therefore, you will need to find out from your bank what the Bizums purchase limit is.
Source: Informacion
James Sean is a writer for “Social Bites”. He covers a wide range of topics, bringing the latest news and developments to his readers. With a keen sense of what’s important and a passion for writing, James delivers unique and insightful articles that keep his readers informed and engaged.