The phrase “I'll make you a Bizum” has become practically as popular as “I'll send it to you on WhatsApp” or expressions like shippear or stalkear. The service allows you to send money without taking your wallet from your pocket and without having to look for an ATM around you. Everything, also, from your bank's mobile application and in a few simple steps.
Last October, by the way, Bizum turned five years old . Five years in which it has become an ally of users and banks. This service is integrated into practically any Spanish bank. It has more than 18 million active users, more than 700 million transactions carried out and little by little it is being introduced in online stores and in face-to-face stores throughout Spain.
But, whether or not you are an active user of Bizum, you will have several questions about its limits or capabilities. For example. How much money can you send through Bizum per day? And per month? How many times can you send money to your friends or family? We answer all these questions below.
How much money can I send and receive?
At the time of writing these lines, these are the amounts and amounts that you can make through Bizum. Or to understand us, this is what you can send by Bizum. These limits are between individuals . They do not affect purchases in shops and donations.
The minimum you can send per operation: € 0.5 The maximum you can send per operation: € 1,000 Operations sent per client: without limit Amount received per client per day: € 2,000 Operations received per client per month: 60 operations Maximum recipients in a shipment / request: 30 recipients Requests to receive per client per month: 60 operations Duration of the Pending shipment to non-clients: 2 days Duration of the pending request to non-clients: 7 days Storage of your data on their servers: 30 days These are the general Bizum limits that apply to most Spanish banks. But each bank applies its own rules when sending and receiving by Bizum. Here are several examples:
BBVA allows you to send money between € 0.5 and € 500 per transaction. Limit, € 1,200 per day and € 5,000 per month . It also limits 60 operations per day and per month. CaixaBank allows you to send money between € 0.5 and € 500 per operation. Limit, € 2,000 per day . Maximum, 60 operations per month. Santander limits to € 15,000 the maximum per operation between individual and online commerce. Unicaja allows you to send money between € 0.5 and € 500 per operation. Limit, € 2,000 per day . Maximum, 60 operations sent per month and 60 received per month. Photo by FLY: D on Unsplash
Why does Bizum put limits when sending money?
First of all, it should be remembered that sending and receiving through Bizum has certain limits for security reasons . The same thing happens with your credit card . You have a spending limit per month and a spending limit per operation. In case of theft, and before you can cancel or cancel the card, the maximum that a thief can take from you will be limited to the amount of money that can be withdrawn from the ATM in a single operation or the spending limit of the card, which is usually well below the money you have in your checking account .
With Bizum, the idea is the same. To avoid scams in Bizum, you can send money up to a certain amount and carry out a certain number of operations per day and / or per month. These limitations have been changing over the years adapting to the current reality. All in all, these limits are more than acceptable for your day to day.
Another aspect to take into account is that the Treasury limits the amounts that you can send money between individuals or family members. The objective of these limits is to avoid tax fraud . For example, trying not to pay certain mandatory taxes such as the Inheritance and Donations Tax or the Asset Transfer Tax. With these limits we also want to stop money laundering . It may not end with it, but it makes it more difficult for anyone who wants to defraud large amounts of money .
