What is Bizum: Everything you need to know

If you have not yet started to enjoy the benefits of Bizum, don’t wait any longer to benefit from its functions. We tell you what it is, how it is used and everything you need to know about this mobile payment platform.

Forget counting bills and coins every time you pay for something in a group. Thanks to Bizum, this task is much more comfortable, fast and simple, as well as totally safe and free: all you need is your mobile phone and in a few seconds the money you owe will reach the other person’s checking account.

Bizum is very easy to use, it is compatible with most of the banks that operate in Spain and, apart from sending, requesting and receiving money, it also allows you to make payments in the establishments attached to the platform or make donations to an NGO.

If you have not started using this mobile payment service yet, you are missing some of the most practical functions that make your life much easier. Take note of everything you need to know to start using Bizum.

Everything you need to know about Bizum

What is Bizum?

First of all, the first thing we are going to do is explain what Bizum is. Bizum is a mobile payments platform promoted by Spanish banks. It allows you to send money from your bank account to someone else’s instantly, receive money from another user, pay for your purchases at member establishments or make donations to NGOs. And all this without the need to provide any bank details, just the mobile phone number.

Unlike other mobile payment systems, Bizum is not a standalone application. The platform is integrated into the bank’s own app and what it does is connect your mobile phone number directly with your bank account. Thanks to this, money can be moved between accounts in real time.

To use Bizum you only need an account in a bank compatible with the platform, download the entity’s app and activate the service with your mobile phone number. The service is completely free and your bank will not charge you anything to use it.

What banks work with Bizum?

Given that Bizum is an initiative of the Spanish bank, the platform has the backing of the vast majority of banks that operate in our country.

Here is a list so you can check if yours is there. Click on your entity to access the page with the necessary instructions to activate Bizum on your mobile:

  • CaixaBank
  • Santander
  • BBVA
  • Bankia
  • Sabadell
  • Kutxabank
  • Rural Box
  • Unicaja Bank
  • IberCaja
  • Cooperative Group Cajamar
  • Abanca
  • Bankinter
  • Liberbank
  • Kutxa Labor
  • Evo Bank
  • Mediolamun Bank
  • Rural Eurobox
  • Engineers Box
  • Cajalmendralejo
  • Arquia Banking
  • Bankoa
  • Pueyo Bank
  • Caixa Ontinyent
  • Cajasur
  • Deutsche Bank
  • Imagin
  • ING
  • Openbank
  • Orange Bank
  • Targo Bank

How to activate Bizum

Is your bank compatible with Bizum? If the answer is yes, the next step you have to take is to enable the service with your bank.

The process to activate Bizum is slightly different for each bank, although the basic steps are the same . Once you have verified that your entity works with the platform, the next thing you have to do is download its application, if you do not have it on your smartphone yet. Finally, look for the Bizum option within the app and follow the instructions in the wizard to activate it.

If you need help, click on the link of your entity that we have left you in the previous point. It directs you to the official website where you can find all the information on the platform, including how to activate Bizum on your mobile.

So that you have a reference example, we are going to explain the steps to activate Bizum in ING. Enter the bank application with your credentials, touch the menu key and select Transfers. Here you will find the section dedicated to Bizum, click on the Activate Bizum link and follow the instructions to complete the process.

Please note that your phone number can only be associated with one bank account. Therefore, if you have several accounts in different entities, you have to choose with which of them you want to use Bizum.

How Bizum works: send and receive money

Now that you have the service activated in your bank’s app, you are ready to start sending and receiving money instantly, without having to provide your IBAN or any bank information, and completely free.

As in the case of activation, the process to send money with Bizum to another person is different for each entity, since it is done through the bank’s app. In the section dedicated to banks we have left you the link to the specific information of each entity so that you can consult how to do it in your case.

We are going to give as an example how to send money through Bizum in the BBVA app so that you have a reference. Enter the application with your credentials, touch the menu key and select Do an operation. In the Operations with account section you will see the option Bizum Send / Receive money. Here you can send money to another person by entering their mobile number, request money from another user, contribute to a solidarity cause or generate a QR for payments and collections.

Receiving money at Bizum couldn’t be easier. All you have to do is tell the other person your mobile number, and when they send you the money you will receive an SMS indicating that the person has sent you a payment of a certain amount through Bizum. By clicking on the link included in the message, you will accept the payment and the money will reach your account instantly.

The limits of Bizum

To ensure safety, Bizum has a few knockoffs . Each bank can determine its own limits, but the platform has some general rules.

The minimum amount of each operation is 50 cents and the maximum is 1,000 euros. Each person can receive a maximum of 2,000 euros through Bizum per day, and it is not possible to carry out more than 150 operations per month.

How to pay for purchases with Bizum

Bizum mobile payment

Apart from sending, requesting and receiving money between users, Bizum is also a payment method that allows you to pay for purchases at partner establishments. In this link you can check all the businesses that accept payments with Bizum.

In order to use it, you must obtain the Bizum key, which is a 4-digit code with which you can validate transactions. Once again, the process to obtain your Bizum password is different depending on your bank. Click on the link of your entity that we have left you above and follow the instructions it offers you to get your code.

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