On the verge of reaching 20 million users, Bizum, the system that has revolutionized instant payments in Spain, continues while trying to partner with more businesses… but also with more banks. They are even currently associated with Bizum, offering their operations to users who must know a series of things when changing their account and creating a new ‘bizum’.
Born to make a transfer to friends in small amounts in a matter of seconds, however, Bizum’s reach is so high that today in almost 30,000 online businesses, as well as you can donate money to more than 5,000 NGOs. A facility for monetary transfer that would not make sense without the support behind the main Spanish banks.
And it is that Bizum was born with the support of the strongest entities that saw in this model, already existing in other countries, a way to complement their services in Spain. So until adding the 31 current companies that offer this service and that yes, it entails a series of conditions for their clients.
This is how you can change entities in Bizum
“Bizum is monogamous”, . Thus, only being able to use an account associated with a telephone number (conversely, more than one number can be associated with an account), when changing entities the user must resolve a series of issues or, otherwise, could have problems to continue operating with Bizum.
Change the IBAN to which your number is associated, for which you must enter the application of the bank in question and select the new account. A step that is simple, free (as many times as the user wants) and free, but without which it would not be possible to continue receiving or sending transfers.
Once this easy account change step is done, a certain period of time must pass for the modification to be confirmed by Bizum itself, thus allowing the user to continue operating through their new IBAN.
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