Bizum has become one of the most common payment methods, safe and reliable among friends and family and even between companies and small businesses. And paying with your mobile phone at a party, after a dinner with friends, or even to buy furniture, or “bisum” from your mobile, simplifies the whole loan delivery, registration process and avoids contact with physical money.

However, the Tax Office has increased its scrutiny in the electronic banking segment to avoid tax evasion and other strategies. And – because “make us” is still instant and local wire transfer notification – bank transfers that exceed a certain amount will have to be declared. ANYONE We will face fines of up to 50% of the transferred amount.

What is the limit of transactions and the amount of money Bizum allows to perform?

The transfer limit at Bizum is not always the same and depends on our own credit limit and the bank institution where we operate. For example, although We can transfer from 0.50 cents to 500 euros in one transaction. and within 24 hours, in other cases we can bypass this restriction and pay up to 2,000 Euros under the same account.

The key lies in the convenience and freedom this method offers. However, in these cases there is also a cutoff limit that refers to the number of posts and acceptances that can be made from the same account. And this monthly transaction limit is limited to 60 transactions..

It is the limit amount that we can transfer without declaring it through Bizum.

Although all the transfers we make through Bizum are subject to control and review -it’s not in vain that we make fun of the transfer concept- the transfer limit is 9,999 Euros without having to give an account.

In other words, starting from 10.000 Euros, we will have to specifically announce this move. For this we will have to resort to the S-1 payment model so that we can complete it in the office or electronically. This is a must we have, whether we operate as a user or as an entrepreneur.

And if we don’t, we face corresponding surcharges starting at 600 Euros or possible sanctions of up to 50% of the amount shipped. In this case of 10,000 euros, we are talking about a fine of 5,000 euros. Light fines go up to 60,000 Euros, and the most serious ones up to 150,000 Euros.