Dear bizumer, we know that Bizum has become an essential tool in your daily life to make payments and transfers quickly, easily and securely. A great ally that, in a matter of seconds, allows you to perform multiple operations. And among so many operations, there is one that you usually ask about: can Bizum be cancelled?
Read on to learn all about whether you can cancel a bizum.
These are the reasons why bizum cannot be cancelled
Sorry, bizumer, but we have to confess that you can’t cancel bizum. Every time you send a bizum you have to go through several authentication factors with which you confirm that you agree with the operation you are about to perform and, therefore, once you confirm the operation you cannot cancel bizum. This is a basic security issue, because the transaction reaches its recipient in less than 5 seconds. But to make it even clearer, here are 4 reasons why you cannot cancel bizum:
- The principle of immediacy in Bizum. One of the great advantages of Bizum is its immediacy. When you make a bizum, the money reaches the recipient in 5 seconds and the transfer is automatically reflected in the account of both (sender and receiver). So, the money leaves your account and enters the recipient’s account immediately and directly, there is no way to stop the operation.
- Irrevocable movements for security. Bizum is designed to ensure the security of transactions and prevent fraud. If it were possible to cancel bizum after it has been sent, this could lead to a security breach and risky situations.
- There are no intermediaries in the process. Bizum is integrated directly into your bank’s app, which is the one that orders the transaction and, when you send a bizum, the money goes directly from your bank account to the recipient’s without intermediaries. This prevents bizum from being cancelled.
- Double authentication. Every time you send a bizum you have to validate the operation by means of a double validation factor, i.e. you have to validate the operation twice. Before confirming the sending of a bizum, the user always has the opportunity to review every detail of the operation, as well as to confirm that the alias (name and initials of the surnames) corresponds to the person to whom you want to send the money. Once the operation is confirmed after these two validations, it is executed without the possibility of turning back.
Therefore, it is essential to carefully review the details before making a payment through Bizum (and any payment in general) as it will not be possible to reverse or reverse the process.
What to do if you have sent a Bizum by mistake
Although there is no Ctrl+Z to cancel bizum, here are some alternatives in case, despite the bold, uppercase and underlined letters ARE YOU SURE YOU WANT TO CONFIRM THIS OPERATION? and you have confirmed that you do, you have the wrong recipient:
- Contact the recipient. This is the first step and, in most cases, the quickest solution. If you sent the money to the wrong person or made a mistake, the best thing to do is to talk to the recipient and explain what happened. Most people understand these mistakes and will usually cooperate to return the money to you.
- Request a bizum back. If the recipient is willing to help you, ask him to send you a bizum for the same amount, that is, make a request for money through Bizum. It is a simple way to correct the error without complications, it would be as if you had managed to cancel bizum.
- Go to your bank. If, for some reason, you are unable to resolve the situation with the recipient, you can contact your bank. Although they cannot cancel bizum, they may be able to advise you on the steps to take, such as filing a request for a chargeback, as is the case with traditional transfers.
Steps to follow in any banking operation
Bizum is a very useful tool for your banking operations, but like any payment system, the user’s responsibility is key to avoid errors or misunderstandings. Therefore, it is very important that, when it comes to banking operations, you pay 100% attention to the operation to avoid mistakes and not having to ask Google if you can cancel Bizum.
For the avoidance of doubt, here are 3 key steps you should always review before accepting a transaction. We repeat… ALWAYS:
- Verify the recipient’s data. Once you have entered the number through the address book, make sure that the first name and the initials of the last name match. And if you have any doubts, it is better to make sure before making a bizum!
- Check the amount. I think we all agree that it is not the same to send 100 euros when you only wanted to send 10, you only got a zero, but it is a big difference. Put on your glasses if necessary to check and avoid a bad time.
- The telephone number, better from the phone book. Whenever you can, select from your phone’s address book the number or person you are going to send a bizum to. This way you can be sure that you don’t miss any numbers and that you are sending it to the right person.
By following these three tips you will be able to make bizums like a “pro” and not risk having to rely on people’s goodwill to get your money back.
