Last updated: 26 January 2022
We love hearing about new ways of transacting funds at casino sites. Yes, we admit, we get goosebumps. Bizum is not a new banking service in the financial ecosystem of Espana. However, Bizum is a new casino banking method gamers from Spain can use at several online casinos.
Our experts at CBM rolled up their sleeves to put together a complete guide on using Bizum as a new payment option at Spanish online casinos. Learn how to make Bizum deposits and cashouts with a few easy clicks on your smartphones. And all the other nitty-gritty of Bizum, helping you decide if this may be your preferred PSP for online gambling. We bring you the best Bizum casinos, where you can enjoy slots, poker, blackjack or sports betting as well. Let’s get started, amigos.
Back in the day, customers in Spain sought a mobile payment option enabling quick, safe, simple, and cost-effective transactions. A group of Spanish banks decided to meet the clients’ needs. As a result, Bizum was launched in October 2016 to provide innovative digital banking services. BIZUM, S.L. is a company owned by 23 Spanish banks that joined forces to develop and offer its consumers a new and secure mobile-based banking system.
The service had gained strong momentum through recommendations and word of mouth. Consequently, in 2017, Bizum managed to reach and celebrate the first million users. Even though it was created to enable easy mobile transactions between people, the company never stopped innovating and adding new features.
Therefore, in 2018, fintech introduced an NGO service empowering NGOs with an efficient channel to receive necessary donations. Another novelty from Bizum came in 2019 when they started offering e-commerce payments. The latest product helped clients make effortless e-shopping via mobile phones by enabling their Bizum passwords. After diversifying its features, the company had more than 10 million active users in 2020. Fast-forwarding to 2022, the company boasts almost 20 million clients.
- January 2022: Bizum states that during 2021, on average, people sent more than 16 bizums (transactions) per second.
- January 2022: The company announces that it has more than 19 million active users. It also says that its volume of transactions exceeds €40 billion.
- October 2021: Bizum celebrates its 5th anniversary as a Spanish leading mobile payment solution.
- July 2021: Bizum announces that more than 18,000 online businesses in Spain accept Bizum. The company says that the number of e-merchants offering Bizum has doubled during the first half of 2021.
- June 2021: The company introduces a campaign, “Se nota”, aiming to “show the face of Bizum” – facial expressions when a person shops online using the service. The goal is to present how convenient this payment method really is. You can see these videos on the Bizum official YouTube channel.
Bizum is a P2P (peer-to-peer) mobile payment option facilitating direct money transfers between people using smartphones. The main goal of Bizum is to make digital transactions effortless. The users only need to link their mobile phones and emails to their bank accounts to shop online, pay bills, and send and receive money. At the same time, Bizum helped the member banks stay at the forefront of providing cutting-edge mobile banking services in Spain.
The company enabled e-commerce payments at the end of 2019. The number of merchants implementing the system started increasing rapidly. When writing this review, the number of online merchants accepting Bizum transfers has exceeded 26,700. Furthermore, the number of transactions Bizum has carried out so far has surpassed 830,000,000. Finally, more than 5,000 NGOs use this banking solution to receive donations.
We’ve said earlier that this instant mobile payment solution was an initiative of the Spanish banking sector. Therefore, more than 30 major banks in the country allow you to make phone-to-phone Bizum transfers. Some of the banks supporting Bizum are Santander, BBVA, CaixaBank, Sabadell, ING, ABANCA, and Unicaja Banco.
It’s easy to infer that a mobile payment option promoted by Spanish banks has one primary target market – Spain.
You don’t need to sign up with Bizum
Yes, you’ve heard it right. Bizum doesn’t require you to open an account. Instead, you need just two things. First, to have a bank account at one of the financial institutions in Spain that offer this service. Second, an active mobile phone number.
Download your bank’s mobile app
When you find the bank supporting Bizum, install the app if you still don’t use mobile banking. You’ll find it easily on Google Play, Apple Store, or the bank’s official website. You can also visit the local branch to help you install and set up their eBanking service. Register with the app to be able to use electronic banking.
Enter the app with your valid credentials
Log in and look for the Bizum section within the application. When you open “Send and receive money with Bizum”, read and accept T&C and enable the service. Pick the bank account you want to connect to your Bizum. You’ll receive a code to confirm your mobile number. That’s it. Start making bizums in no time.
Get your Bizum password
Remember that you cannot make or request any payment through the platform without a unique Bizum password. Bizum password is a 4-digit code, like a bank card’s PIN code. You will receive it from your bank and use it to authenticate any purchase or online casino deposit you make. If you change the bank, you’ll need to change the Bizum code too.
The first step to start using this banking method for online casino deposits and withdrawals is to pick one of the reputable casinos that accept Bizum. Sign up, and you’re ready for your real-money Bizum online casino adventure. Here is how to make a casino deposit Bizum:
- Go to the cashier or banking page. Open the deposit section.
- Take a look at all the available payment options and find Bizum logo.
- Click on it to select it as your preferred deposit method.
- Log into your online banking with valid banking credentials, mobile number and password.
- Enter the amount you want to send to your casino balance.
- Confirm the transaction with your unique Bizum 4-digit password.
- You’re ready to browse the casino lobby. Good luck.
Bizum is a quick and reliable payment processor. However, one more important benefit of using Bizum at Spanish online casinos is that it allows you to cash out winnings. The process is almost identical to funding your online casino balance.
- Visit the banking page and open the withdrawal section.
- Select Bizum as a cashout method.
- Specify how much money you want to debit from your casino balance and submit the withdrawal request.
That’s it. Now just wait for the notification that your bank account has been credited.
Bizum doesn’t charge any fees to its users. However, since the service is connected to various banks in Spain and facilitates payments between bank accounts, you may encounter bank-related fees. You need to visit your local bank branch or check online if your bank has costs for processing these transactions.
For example, BBVA bank says it doesn’t charge anything for sending money with Bizum through its app. You can visit this page to see the entire list of banks offering Bizum to double-check if they have fees associated with this service.
Also, online casinos with Bizum don’t charge players for depositing and withdrawing through it. However, take your time and read the casino’s T&C and visit the banking page before making a deposit. Pay special attention to the fine print.
Bizum casino deposits are processed immediately. The provider states that sending money takes less than 10 seconds. Therefore, you can expect to see your casino balance credited instantly. And look forward to exploring the casino games portfolio in no time.
Withdrawals are always different and take more time. The main reason is the casino’s pending period. Each casino has its’ own policy and a timeframe necessary to review your withdrawal request and approve the transaction. The best way to learn how long your selected casino needs to process cashouts is to open the T&C page. Or ask the support agents for more details.
It’s worth noting that Bizum online casinos send your winnings directly to the bank account you’ve associated with the service.
Bizum pays special attention to security. Therefore, the payment processing platform has certain limits set to bolster safety. You can send a minimum of €0.50, while the maximum you can transact is €1,000 per operation.
The maximum sum you can collect per day is capped at €2,000. It means that you cannot cash out from your casino balance more than €2,000 a day. If you wish to take a larger amount, you’ll receive the funds in instalments. Also, you can receive a maximum of 60 money transfers during a month.
Remember that your bank may also set certain thresholds. Furthermore, online casinos accepting Bizum deposits and withdrawals have their own minimum and maximum limits. Open the payment methods page of your desired casino destination to see these numbers.
Bizum is an entirely bank-backed digital payment platform. All fund transfers are carried out through banking channels. Therefore, the system is shielded by the banks’ state-of-the-art digital security and anti-fraud measures. In other words, it features bank-grade protection measures.
Furthermore, Bizum complies with all relevant EU and Spanish security regulations and laws. Finally, you must confirm each online transfer and payment request you make with a unique Bizum PIN code you receive from your bank.
We’ve explained earlier that Bizum is a direct mobile payment platform endorsed by reputable Spanish banks. If you face any problem with the service, you will need to contact your bank first as it carries out all Bizum transactions.
However, you can also reach out to Bizum support on their website. The quickest way is by using the live chat widget in the bottom right corner of the screen. Click the blue “Necesitas ayuda?” (“Need help?) tab to open the feature. You’ll be welcomed by Bizzi, a virtual assistant who’ll immediately give you a link to a comprehensive FAQ page to look up the answers. You can continue communicating with Bizzi by picking different categories it opens to help you detect the issue.
One more communication channel available at Bizum’s website is an online form. Find the “Contact us” page in the footer, fill in the empty fields with your name, email, bank, and submit your inquiry. The help agents will reply to you via email once they have an explanation.
Finally, send an email to [email protected] if you prefer this type of communication, or reach out on their official Twitter, Facebook, and Instagram profiles. The links are in the footer.
We’ve already said that Bizum is a new online casino deposit and withdrawal method available to Spanish players. However, the system itself is not new and unknown. Almost 20 million Spaniards are already using Bizum in their everyday lives for all sorts of electronic transfers and online shopping.
While gaining traction among online casinos, Bizum will also gain players’ feedback on its convenience for crediting online casino accounts. And withdrawing winnings. We will update this section with firsthand player experiences when we find relevant reviews. Stay tuned, amigos.
You can use Bizum to play and collect prizes in lotteries organizes by the state-owned Sociedad Estatal Loterías y Apuestas del Estado (SELAE). To participate in your favourite lottery game, first, you need to generate the Bizum QR code within your banking app. This is a dynamic code you can use only once and is valid for 15 minutes.
Show it to the operator to scan it at the POS terminal, and you can complete the payment. The process is identical for collecting prizes. Generate the QR code, show it to the operator, and wait for confirmation that the transaction was successful. Congrats!
Bizum is a payment service interoperable with banks’ mobile apps and electronic banking. Install the app and sign up if you’re still not using online banking. You’ll quickly find links for banks’ apps on their official websites. But, you can also find the dedicated apps on Google Play and App Store on your own.
Download the app and go to the Bizum section to activate it. Start paying bills, sending and receiving money, and making instant deposits and casino withdrawals from your smartphone.
- A community of Bizum clients has a cute nickname, Bizumers.
- A new term, “making a Bizum,” is widely used among Bizumers, referring to person-to-person (P2P) money transfers.
- The number of Bizum clients skyrocketed in 2019. The service had 2 million customers in 2018, and a year later, it already gathered 6+ million active users.
- Interestingly, the company reported that during December 2019, 65% of its clients used the service to carry out at least one operation.
- Also, in December 2019, the average value of e-commerce transfer via Bizum was €62 per payment.
- In 2020, Bizum had over 10 million bizumers who carried out 165+ million transactions worth over 8 million euros.
- Bizum was recognised as the best fintech product in Spain at the Rankia Awards in 2017, 2019, and 2020.
- The website supports several local dialects, including Català, Galego, and Euskara.
Yes, you can. But, keep in mind that one mobile phone number is connected to one Bizumonline banking. However, you can change the bank if you like, but you can’t use it and be logged into several mobile banking accounts simultaneously.
If you have more than one mobile number and bank accounts at different entities, you can connect each number to a specific bank account for making Bizum transactions. Only not at the same time.
Yes, it is. The platform is endorsed and offered by the most esteemed banks in Spain. The banks’ cutting-edge security systems protect the payments. Also, banks are verifying all these transactions. Moreover, Bizum ensures the highest security measures in line with the standards set by the European Union and Spanish laws.
The service has no fees whatsoever. Online casinos also don’t charge players for using Bizum. But bear in mind that you’re paying from your bank account. Therefore, banks may apply certain costs. Check this with your local branch.
No, you can’t. There are two main requirements for using Bizum – a mobile phone number and a bank account at one of the institutions that work with Bizum. However, you can send money to a foreign mobile number if it’s associated with a Spanish bank account.
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Biljana is an experienced content writer who started building her career in 2004. In 2013, she began to work for a Swiss telco company, where she wrote texts for websites and created various marketing collateral. She started her iGaming “adventure” in 2020 during the pandemic and never regrated the decision she made. Biljana is a Content Manager in charge of preparing content plans for websites such as CasinoBloke.com, LiveCasino24.com and OnlineGambling24.com. One of the latest projects she’s particularly keen on is CasinoBankingMethods.com.