Over the years and largely thanks to technology, little by little we are abandoning the use of cash. In addition to the usual bank cards, we now have various digital platforms to make both personal and business payments.
A clear example of all this can be found in the popular Bizum, which more and more banks have due to its widespread use. Initially, this is a system that was launched to make small payments between family and friends instead of going around with bills and coins. One of the main advantages of this technology is that both sending and receiving are immediate.
In order to benefit from the advantages of this platform, all we have to do is associate our mobile number with it, and configure our bank’s app if it is compatible. Most of the entities are currently joining forces to offer their customers this online payment service. However, what at first began as something especially focused on the end user, its use has been spreading to a great extent.
Basically, this means that many already use the Bizum platform to carry out important commercial transactions, even with companies. This means that we are no longer talking about paying or receiving a few tens of euros, but rather amounts that amount to thousands of euros are transferred here. That is precisely why the Treasury for some time now has made the determination to take action on the matter and begin to control all of it.
Be careful with your payments with Bizum, the Treasury is watching you
That is why we must know the limits established by the Tax Agency to avoid problems in the future if we use Bizum regularly. And it is that if we pass those limits we can face a significant fine that surely almost nobody likes. Basically what we should know is that if we exceed the limit of 10,000 euros in the same year through transfers with this platform, we will have to declare it to the Treasury.
In the event that we do not abide by this regulation, we could face a fine of up to 50% of the amount that we have transferred through the aforementioned platform. Obviously, if we use Bizum to pay for dinner for friends or transfer shared gifts to the family, we won’t have to worry. However, in the event that we carry out large operations through this immediate payment service, we should take into account the limit that we have mentioned. This way we will avoid problems with the Tax Agency and troubles in the form of fines.
At the same time, there are other limits of use that the platform itself establishes by default and that we will be obliged to respect. Hence, we must know that the maximum money that we can transfer by this method at one time is 1,000 euros. Likewise, the maximum amount that we can receive in a single day is 2,000. Regarding the number of operations received in the same month, we cannot exceed 60, while the maximum number of simultaneous recipients is 30.
