„can you make me a Bizum?“ (loosely translated: Will you transfer the money to me by Bizum?) – this question is mainly heard from Spaniards and Mallorcans again and again. If smaller debtswhich you have to pay between friends, or the transfer for the course in the dance school: With the Bizum payment system you can use your smartphone in within seconds send money or receive money transfers to contacts.
You don’t need an IBAN or any other bank details from the recipient, just a cell phone number. Both, sender and receiver, must also have an account at one of the banks cooperating with Bizum to have. The transaction only lasts few seconds and is free. Most private individuals use the service when they want to pay small amounts, because the limit of a money transfer is set 1.000 Euro. Within this limit, however, the banks can also set individual upper limits. At ING it is 500 euros.
Hardly a bank is not included
Most of the credit institutions operating in Spain are involved in the payment system, including: ING, Deutsche Bank, Targo Bank, Orange Bank, CaixaBank, Santander, BBVA, Sabadell, Unicaja Banco, Kutxabank, Caja Rural, IberCaja, Grupo Cooperativo Cajamar, Abanca, Bankinter, Imagin, BancaMarch, Caja de Ingenieros or Arquia Banca. Once you have made sure that your bank is in the list (bizum.es) appears, the Bank app download. in must User Bizum as a payment method then activate it.
The process is similar for every bank. Please simply follow the instructions on your cell phone or in the Bizum Settings of the app Looking for! In the ING app you have to click on “Menu” and then “Transferencias” and then you will find the Sub-item Bizum. Once activated, you can either from there or under “Transferencia” on the main page Send money. To do this, ING customers, for example, have to click on “Enviar” and select the number of the desired recipient in the phone book.
Then under “Imports” enter the desired amount (minimum 50 cents, maximum 500 euros) and possibly also specify a purpose (“Concepto”). As a last step, click on “Continuar” and the recipient will receive a notification. In his app he can then also in an overview (at ING under “Movimientos”) Date, amount and recipient names of the transactions see.
Some banks also allow online purchases to be paid for via Bizum (information on this here).
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