Bizum is a payment method added in Bisq v1.7.5.
Bizum is a mobile payment provider service based in Spain. Bizium is a result of the collaboration of almost all of the Spanish banks to create a system of instant payments between individuals and shopping in stores.
- 1 Where can I find out more about Bizum?
- 2 What countries are available for Bizum?
- 3 What currencies are available for Bizum?
- 4 What is the maximum trading duration for Bizum?
- 5 What is the maximum BTC limit for an Bizum trade?
- 6 Is Bizum a payment method that can be signed?
- 7 How do I set up a Bizum account?
- 8 How do I add Bizum as a payment method in Bisq?
- 9 How do I buy BTC with my Bizum account?
- 10 How do I sell BTC with my Bizum account?
- 11 Are there any limits for me to be aware of when using my Bizum account?
- 12 Are there any fees for me to be aware of when using my Bizum account?
- 13 How does dispute resolution when trading with Bizum?
Where can I find out more about Bizum?
Here is a list of Bizum resources:
What countries are available for Bizum?
You need is a bank account (IBAN) in Spain with any of the entities which offer the service and a mobile phone number.
The Bizum service is not yet available for bank accounts outside Spain. Insofar as the telephone is concerned, Bizum has no restrictions, reason why it would not be a problem to make a Bizum to foreign mobile phone numbers which have a Spanish bank account associated with those phone numbers.
What currencies are available for Bizum?
Bizum supports EUR currency.
What is the maximum trading duration for Bizum?
The maximum trade time is 1 day. Generally Bizum transfers will be completed instantly (less than 10 seconds).
What is the maximum BTC limit for an Bizum trade?
Is Bizum a payment method that can be signed?
No, Bizum accounts do not require signing.
How do I set up a Bizum account?
Vist the Bizum website to set up an account. You will need a Spanish bank account.
How do I add Bizum as a payment method in Bisq?
It is easy to add your Bizum account to Bisq.
- Go to the top menu in Bisq and select Account.
- Then select National Currency Accounts.
- Click add new account
- Select Bizum
- Complete the details
- Choose to use a custom account name this helps makes it easier for you to manage multiple payment methods in Bisq (this will be visible only to you, for example: Bizum - EUR - Fulano de Tal)
- Click save new account
If you have more than one Bizum account you wish to add to Bisq you can create different accounts for each.
Make sure all the details are correct when you add.
How do I buy BTC with my Bizum account?
You can buy BTC with Bizum on Bisq in 2 waysː
- Make an offer to buy BTC on the EUR market.
- Take an offer to buy BTC on the EUR market.
When the offer is confirmed Bisq will provide you with the BTC Sellers Bizum details for you to complete the payment. You should send payment immediately and confirm you have done so in Bisq by clicking 'payment started'.
If you have the option to include a payment reference please leave it blank. If your bank requires one, please just use your name that matches your bank account.
Once the BTC Seller receives your payment they will confirm in Bisq and your security deposit and your purchased trade amount will be available in your wallet.
How do I sell BTC with my Bizum account?
You can sell BTC with Bizum on Bisq in 2 waysː
- Make an offer to sell BTC on the EUR market.
- Take an offer to sell BTC on the EUR market.
When the offer is confirmed Bisq will provide with the BTC Buyer with your Bizum details for you to complete the payment. They should send payment at their first opportunity and confirm they have done so in Bisq by clicking 'payment started'.
Once you receive payment from the BTC Buyer you should confirm payment has been received in Bisq. One you have done this the BTC Buyer will receive their funds and you will receive your security deposit back.
Are there any limits for me to be aware of when using my Bizum account?
Can be used for amounts between 0.50 and 1000 Euros per payment
The maximum amount of transactions you can receive using Bizum is 2000 Euros per day.
- Minimum amount per operation: €0.50
- Maximum amount per operation: €1,000
- Amount of operations received per client per day: €2,000
- Number of operations issued and received by a client in a month: 150 operations
- Maximum number of recipients to be included in a multiple request/remittance: 30 recipients
- Duration of pending remittance to a Non-Client: 2 days
- Duration of the pending request to a Non-Client: 7 days
Each bank however may establish its own limits, within these limits, for its clients.
Are there any fees for me to be aware of when using my Bizum account?
It is free to send and receive with Bizum.
How does dispute resolution when trading with Bizum?
If a dispute occurs the mediator may ask the buyer to send them information showing that they made the payment of the correct amount to the BTC Seller within the correct time frame.
The mediator may ask the seller to send them information to prove their account details are correct, or in the case of the BTC Buyer making a payment late, or of the wrong amount.
For more information see dispute resolution.