More than 22 million Spaniards have the Bizum application installed on their mobile phone and more than 43,000 electronic businesses already show it as a means of payment. Since its appearance, it has become the easiest and fastest way to transfer money, not only between friends to share expenses, but also for many types of payments. Only with the telephone number can you send money without any cost and instantly. Advantages that we do not always find in transfers, much less if they are immediate.
Many people don’t even know that they can make immediate transfers through the bank’s application without the need to use Bizum. This service allows you to send money and in just 10 seconds it reaches the other bank account. In addition, you are available at all times, 24 hours a day, 365 days a year, that is, they are not subject to any schedule and it is not necessary for the office to be open or anything similar.
Which banks allow immediate transfers?
But not all banks offer their customers the ability to make immediate transfers. And very few allow these movements for free, although it is an initiative promoted by the European Central Bank and the European Payments Council (EP), banks are not obliged to offer them.
According to HelpMycash, one of the main comparators of banks and financial products, the adhesion of banks to the system “is voluntary, hence not all banks allow immediate transfers and not all have incorporated them at the same time. In addition, there is the possibility of to adhere to the scheme only as a receiver, so there are banks that do allow their clients to receive instant transfers, but not issue them.”
This same bank comparator informs in this list of the entities that allow immediate transfers and the cost that is passed on to customers, in which there are great differences, since they range from free to 6 euros in Santander and 12 in Bankinter.
Abanca: 1.50 euros.ActivoBank: 0.95 euros.Banca March: from 1 euro, depending on the type of account.Banco Mediolanum: free for customers of the A tu medida program.Banco Pichincha: free.Banco Sabadell: 0.95 euros. Banco Santander: 6 euros Bankinter: 12 euros BBVA: 1.25 euros Caixa Ontinyent: 3.5 or 6 euros, depending on the amount. 10 euros in the office. CaixaBank: 0.40% (minimum 3.95 euros) + 1.99 euros. Cajamar: free with the Wefferent account. Deutsche Bank: 3 euros. EVO Banco: free. Ibercaja: 0.34% (minimum 3 euros) Kutxabank: 3 euros. N26: free for premium customers and 1.99 for the rest. Openbank: 2 euros with a payroll account and 4 euros with a checking account. Orange Bank: free. Pibank: free. Unicaja: 0.50% (minimum 5 euros)
Banks that do not allow immediate transfers and that do not have Bizum
In this previous list of banks, for example, there is ING, which does not allow immediate transfers to clients of another entity through its website or application. Its website details that with the ING Payroll Account, “all national SEPA transfers made before 1:00 p.m. arrive on the same day at no cost, as well as international SEPA transfers within the EU up to €50,000 made before 10:30 a.m..”
In addition, it should be noted that three of the banks that do allow immediate transfers are not compatible with Bizum: Banco Pichincha or Pibank, which offer them free of charge, and ActivoBank, which only charges its customers 95 cents.
