What Bizum is and what advantages it has for the customer

Send money easily, securely and instantly.

You have probably found yourself in that "awkward" situation where you have to pay for something and you don't have cash on you and there are no ATMs around. A "bitter" pill made more palatable if you have Bizum. And what is Bizum? A tool that lets you transfer money instantly, conveniently and free of charge from one smartphone to another by just sending a message.

To use it, the telephone number must be associated directly to your bank account so that the money can be transferred in real time. Then, just go into Bizum through the BBVA app, select the recipient from among all the contacts in your agenda and specify how much money you want to send. If the recipient is already a Bizum user, they will get the money instantly. If they are not registered, they must register within 48 hours using their cell phone number to get instant access to the money. If you do not, the operation will be cancelled and the entire amount of the transfer will be returned to you. And it's all free.

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Goes through money right away with Bizum, without cost
Do it from BBVA's app and contributing only the phone number, without accounts.

What do I need to register?

Bizum was created in Spain, based on European Union regulations, to promote instant payments. This has allowed it to establish strong ties with the leading banking institutions (which account for 96% of the market share), including BBVA, since its inception. 

One of the great advantages that BBVA offers when using Bizum is that you don't need to download an additional app to use it; if you have the BBVA app (ranked best in the banking sector by Forrester), you will already have direct access to Bizum. You just need to have an account open in Spain (whether in BBVA or another bank) and an active cell phone number. If you meet both requirements, just register, associate your account number (as mentioned above), and you'll be ready to send your first Bizum!

Is Bizum safe to use?

The growth of Bizum in recent years, and its strong ties with practically the entire banking sector, has resulted in heightened security measures in order to guarantee the money transfers made by users.
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Does your bank app have Bizum?
BBVA's does, and it's very easy to use.

To avoid theft from the account associated with the service, for example, Bizum sets limits on the transfer amount. These transfers cannot exceed €500 (each) or €1,200 (daily total). You are also limited to 30 "Bizums" a month. In addition, and in order to avoid sending the money to the incorrect recipient, it gives the option to review the name and initials of the last names associated with the recipient's cell phone number before confirming the payment.

Two small steps towards safer instant payments, with the recently added option of paying for your purchases in participating online businesses. Can you request more?

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