Differences between doing Bizum or bank transfers

Bizum is the mobile payment solution promoted by Spanish banks. Since its creation in 2016, little by little it has been imposing itself on the traditional bank transfer. Currently Bizum allows us to make payments between individuals, pay in associated online businesses, make donations to NGOs or pay and collect prizes in the State Lottery and Gambling Administrations, among others.

If you carry a mobile, you carry money. This is one of the slogans that Bizum boasts on its official website. And it is sure that at some point it has crossed your mind, why is Bizum so popular if it is nothing more than making a bank transfer? Nowadays, bank transfers can be done comfortably from our bank’s mobile app, a priori, just like Bizum but although they share common characteristics, there are some differences between making a Bizum or making a bank transfer.

Differences between doing Bizum or bank transfers

Main differences

Bizum has become the most popular option to send and receive money through our mobile. There are several alternatives to Bizum, but it seems that they have not yet taken away the leadership and fame that it has earned throughout these years. Bizum has managed to put bank transfers in the background. There are advantages and disadvantages when making a Bizum or a bank transfer, these are some of the main differences between the two:


One of the advantages of Bizum compared to bank transfer is instantaneous. Sending or receiving money through Bizum is immediate, while a bank transfer, depending on the bank, may take several days to reach the recipient. In other words, Bizum sends money instantly between users, regardless of the bank to which they belong. However, transfers can be fast and effective on the same day if they are made between the same entity and take between 24 and 48 hours if you send a transfer to another bank account. Some banks give you the option of speeding up the times, but subject to a commission.

Transferencias entre diferentes bancos

Necessary information

Another of the main differences between Bizum and a bank transfer is the data we need to send or receive money. With Bizum it is enough to know the phone number of the person to whom we want to send money, while if we want to make a bank transfer we need to know the account number and IBAN code. In addition, to make a bank transfer we must have a bank account while with Bizum we can send money to someone who does not have the service registered. The recipient receives an SMS so that they can put Bizum into operation in their bank and thus they can receive the money that we have sent them.

Limitations in operations

The minimum amount of operations in Bizum is 0.50 euros and the maximum is 1,000 euros. There are banks that have the maximum limited to 500 euros. The amount received per user per day cannot exceed 2,000 euros. Transactions received per month are also limited to 60. The maximum amount in the case of transfers depends on the bank, but is usually higher.

Bank transfers do not have as many limitations when making operations as those that Bizum has. Of course, if a transfer exceeds 10,000 euros it is necessary to declare it to the Tax Agency. Finally, Bizum does not allow us to send money to bank accounts abroad. It only works between Spanish banks and if a foreign mobile number is associated with a Spanish account it is also possible to send money. For its part, bank transfers can be made to any foreign account, the downside? All Spanish banks take a commission for international transfers.