Transfers between family members are a common practice in our day-to-day lives. Whether to lend money to your child, to share common expenses, such as Netflix subscriptions, or to make a gift between several. For this reason, and to facilitate all kinds of transfers between family members, there is Bizum. The Spanish banking payment platform that allows you to make transfers between family members in the fastest and safest way you can find. If you have any doubts, we explain how Bizum works to make transfers between family members, as well as some examples of use that you surely did not know (or maybe you did…).
How to make transfers between family members with Bizum?
Bizum is a very complete payment method offered by Spanish banks, so you can make transfers between family members even when you are from different banks just by following these simple steps:
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- 1. Open your bank’s application.
- 2. Choose the “Bizum” option.
- 3. Open your address book and select the contact and phone number of the family member you want to send the money to.
- 4. Enter the amount of money you want to send.
- 5. Add a concept to Bizum.
- 6. Confirm the operation.
The money will be sent instantly to your family member’s account.
Can transfers be made between family members who do not have Bizum?
One of the main advantages of Bizum is that, even if your family member has not activated the service, you can encourage him to do so by sending the bizum even if he is not yet registered. When they do so, they will receive an SMS with all the steps to become part of the bizumer community and receive all transfers between family members that have not expired. Remember that if the recipient does not register, the transaction will be automatically cancelled after seven days from the sending date.
Advantages of making transfers between family members with Bizum
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- – Speed: One of the main peculiarities of Bizum is its speed. Transfers are made instantly, so the money reaches the recipient’s account in a matter of seconds.
- – Security: Bizum uses a double verification system to guarantee the security of transactions. So you will no longer have to repeat a thousand times “yes, mom/dad, it’s safe”.
- – Convenience: to send money with Bizum, all you need is your family member’s phone number – it’s that easy.
Examples of how to use Bizum for family-to-family transfers
Although there are many uses for Bizum, here are a few that are very common within the same household:
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- 1. “I’ll pay and then you bizum me”: we know that going to the supermarket with your parents is commonplace. It doesn’t matter if you are 10, 20, 30 or 40 years old. That’s why in many occasions a very simple and fast way is to pay all together and then pay your things by Bizum.
- 2. “Buy this online and then I’ll bizum you”: in every family there is always one person who LOVES to buy online and to whom everything is always ordered. And how do you pay them afterwards? BY BIZUM.
- 3. “The paycheck, via Bizum”: forget about looking for loose change. Send your children’s paychecks via Bizum, so that no matter where they are, they can always have access to their monthly “salary”.
- 4. “Always half subscriptions with Bizum”: Spotify, HBO, Disney Plus…there are many platforms with which to enjoy multiple content as a family. But in addition to enjoying as a family, you pay as a family. That is why Bizum is an ideal option to make these transfers between family members.
- 5. “I’ll buy the gift”: in every group of friends there is always the “official gift giver”, that person who is always in charge of choosing the best gift for each one. Now with Bizum you can pay off debts quickly and forget about hiding at celebrations to try to make sure no one sees how you pay your share.
