New Bizum Restrictions Begin Today With These Limitations

New Bizum Restrictions Begin Today With These Limitations . It seems that lately, on the 15th of each month, important changes arrive to the apps we use the most. If in May WhatsApp was the application that filled pages in the press due to its new conditions of use , today it is the turn of another of the most used in our country: Bizum.

Paypal, Twyp, Bizum, WhatsApp or Verse allow you to pay without the need for cash.

Complete guide to using Bizum: how to settle accounts between friends?
The instant account-to-account payment service via mobile gave the news at the end of April that, as of June 15, it would limit some of its uses, specifically the number of bizums that a user can receive per month .

As confirmed by the company itself to 20BITS , from today the number of monthly payments by Bizum that you can receive is reduced to 60, compared to the 150 that were allowed until now , that is, the change reduces the figure to less than half.

The measure affects only payments between people – individuals, not companies – and the company, which by 2021 has set the goal of reaching 20 million users and having 18,000 online businesses that accept Bizum, does not believe it will have a direct impact on those who use the service.

Why does Bizum reduce the number of payments we can receive per month to 60?
When we asked Fernando Rodríguez, Bizum’s Business Development Director, the reason for this change explained to us that one of the main reasons why this decision has been made is the lack of use : “After more than four years of service, we adjust the operation to the reality of the most common use among bizumers, of which only 0.07% receive more than 60 bizums per month ”, he stated.

Bizum recipients receive an average of 4.3 trades per month
Not only is it that very few exceed the new limit imposed, it is also that most do not even reach a tenth of it: the recipients of bizums receive an average of 4.3 operations per month , “very far of the limit of the 60 that we have fixed ”, emphasized Rodríguez.

Bizum reduces the payments you can receive from 150 to 60 per month. They ensure that only 0.07% of their users perform more than 60 and for safety.

Which banks have Bizum and does it have commissions? How are transactions justified?
Thus, the change that becomes effective today has the purpose of “continuing to adjust the use of the service to the reality of the users, always aiming to guarantee security”, pointed out the Director of Business Development at Bizum. We are talking about a service offered by financial institutions through banking apps and, therefore, ” security is one of the fundamental attributes on which it relies “.

But what does the company intend to fight against? “By reducing the limit of operations received, it is more difficult to use Bizum to receive funds improperly,” stated Rodríguez. This could be a fancy way of saying that with these new conditions you want to deal with payments in the black .

It is important to note that this measure affects only the reception of operations, that is, any user can continue to send as many bizums as they want per month . The rest of the conditions also remain as before: the amount allowed for each operation is between 0.5 euros and 1,000 euros, you cannot receive more than 2,000 euros per day and, at most, 30 recipients can be included in each Shipping.

However, entities can add extra limits, so if in doubt you should check with your bank.

Bizum
All the answers about Bizum: how does it work? How long does it take for the money to arrive? Who can use it?
Currently, more than twenty banking entities include this option among their services and it has almost tripled its users in just two years, going from 6 million in 2019 to 15 million in the last balance in 2021.

The secret is its simplicity, since it is a very easy to use and very comfortable service. You only need your phone number and that your bank offers the service , which in Spain is the most likely.