What is the minimum amount of money I can send to Bizum?
Bizum undoubtedly already one of mobile applications more present in our lives. And if we ever stop using it, it will probably be because they come up with a formula that is simpler, more effective, and perhaps more functional. But at the moment this is the ideal option to achieve this goal. Well, there is currently no payment method that is so widely used all over the world.
One might think that Bizum success It is indirect because, being new, it has not actually invented anything new: it is an application for to pay, request money or make transfers using your mobile phone. Perhaps whoever invented it simply came up with a way to combine what we already had, however it is clear that this was not new, but was real discovery who came to meet needs we didn’t even know we had.
Primarily because it is used through mobile phone, a device that has undoubtedly become a fifth limb. We do everything or want to do it through. Secondly, because it allowed us to perform three basic banking functions with one click: Pay, receive money and make transfers. And finally, it is free, which makes us use it more often, thus remaining a fundamental tool.
Bizum is already so integrated into our lives that we have developed native language’ with expressions that are already clear to everyone. And if someone says “I’ll make you Bizum”, we all know that he is going to send you money. On the contrary, if he asks you to do Bizum, you will send it. For our part, coming to a company and asking whether we can do Bizum means that we are asking ourselves whether we can pay with this payment method.
Bizum’s Limitations
Just because we rate Bizum so highly doesn’t mean the app is perfect. As with everything, each user can express their opinion about what is missing in the application and what is not. In this sense it is true that It has a number of limitations noted by the application itself.. In particular, Bizum has a limit on the amount of money that can be sent. This limitation is not a drawback of the application; moreover, Bizum tries to guarantee the security of transactions by noting these restrictions.
But the limitation itself is also limited. That is, Bizum does not impose restrictions, for example, on the number of operations that a user can perform. On the other hand, the limit is set by the amount that can be sent in specified shipments. In this sense The maximum amount you can send via Bizum in one day is 2000 euros. and in just 60 operations. Likewise, for a whole month, the maximum amount you can send is set at €5,000.
Minimum amount of money that can be sent
Bizum doesn’t have many restrictions, but all those set serve an important purpose. First, it is not a banking institution itself, so allowing unrestricted movement of money could be a challenge. In this sense, there is a fundamental factor why it is also limited: if the application itself were not included, it would also be limited by tax rules. That’s why, The application has established only some rules to avoid fraud..
On the other hand, based on the above, it is assumed that the app development company usually has a maximum and minimum amount to work with. Thus, The minimum amount of money that can be sent through Bizum is 50 cents. Euro. For many this minimum may be absurd, and for others it may even be logical, but that is how they set it. On the contrary, the maximum limit is marked at 1000 euros. As we said earlier, this can be done to avoid tax problems.