Before the arrival of Bizum, there were a large number of platforms that allowed us to send money to our friends, platforms that invited us to create an account, even if we were only going to use the app from grapes to pears. With the arrival of Bizum, there was no longer an excuse for not paying for our share of a dinner, a joint gift, concert tickets or anything else that we did not buy directly or that we were in charge of doing.
To use Bizum it is not necessary to create an account or anything like that. Nor is it necessary to remember to load the wallet or send the money to our account, since all banks are compatible. However, as Bizum has become the most popular method for send money to our friends, family or strangers if we buy through Wallapop, for example, the Treasury has begun to pay special interest with the usual excuse: avoid money laundering.
As this movement is focused on preventing money laundering, the maximum amount that we can send through this platform without raising the eyebrows of the Treasury inspectors is not within the reach of all the public, however, it is never taken into account, for if that were the case, especially now that there are many businesses that are contemplating the possibility of implementing Bizum as a payment method.
Send money through Bizum without declaring it
The Treasury allows us to send money through Bizum without the need to declare it as long as the amount is less than 10,000 euros, that is, we can send 9,999.99 euros without indicating to the Treasury the reason for the transfer. If we exceed it, we will have to fill in the S-1 model for the Declaration of movements of national or European Union means of payment with or without tax identification and that we can download through this link.
If we do not complete this procedure, when the Treasury becomes aware of the transaction, we will be fined up to 50% of the amount that we have sent through Bizum without declaring. We must declare this important in the income if we are the ones who receive the money since, in this case, we will not have to fill out and present the S-1 model.
Bizum limits
if we use it between individuals, we should not worry about this limit, since the conditions for individuals are different. Bizum allows citizens to send a maximum of 5,000 euros per month, with a daily maximum of 2,000 euros per day. These amounts are the same whether we send or receive money. In addition, we also have a maximum limit for sending or receiving money that we cannot exceed and which is set at 60.
The limits between individuals they are quite sensible And we’ll probably never have to consider using another method to send money, such as a bank transfer.
