changes since June 15, 2021

Currently, the restrict of month-to-month transactions is 150. However, as of June 15, the restrict will grow to be solely 60 transactions per thirty days for people. And as well as, every financial institution could set up a decrease restrict to this determine, so the discount may very well be greater than 3 times with respect to the present determine. The determine, subsequently, can be a most of two operations per day, which is not going to have an effect on nearly all of people.

From 150 to 60 transactions per thirty days: restrict in Bizum

The cause for making this variation is because of safety coverage, in response to Bizum. The platform already has 15 million customers and numerous companies and providers that enable it for use as a way of fee. The pandemic has strengthened it much more, lowering the variety of money transactions and the potential for contagion.

Thus, there are people who’ve used Bizum as in the event that they have been freelancers or professionals, therefore they’ve determined to restrict the variety of transactions that people can perform. The remainder of the restrictions will proceed as earlier than, with a cargo minimal of 0.5 euros and a most of 1,000 euros. Nor are you able to obtain greater than 2,000 euros per day with this method, and there’s a most of as much as 30 recipients.

Depending on the banks, these limitations change, the place, for instance, BBVA or CaixaBank restrict transactions to 500 euros, with a most of 1,200 euros per day and 5,000 euros per thirty days. At CaixaBank the restrict is 20 transactions per day and 30 per thirty days, whereas at BBVA it’s 40 and 60, respectively.

Bizum for corporations continues as earlier than

The Bizum circumstances for corporations don’t change, and for them all the things will proceed as earlier than. This avoids that there are corporations that use the model of people to obtain funds on the cell, as a substitute of being related to the identify of the corporate. Banks that use Bizum have already begun to speak this variation to their customers, taking greater than a month and a half prematurely.

Bizum doesn’t cease rising as a way of fee, and present estimates from the European Central Bank affirm that in 2030 60% of e-commerce purchases and 20% of face-to-face purchases can be made utilizing prompt switch programs akin to Bizum . It wouldn’t be unusual that, after this limitation, different alternate options akin to the standard PayPal, or more moderen ones akin to Verse, started to be promoted.