Nubank announces NuConta, a current account service.

Nubank Nuconta Account: what you need to know

Nubank Nuconta Conta brings together the essential points to understand the news, its practical use, and the main implications for readers.

A Startup 2013 came up with the revolutionary idea of ​​ending bureaucracies infinite numbers of Brazilian banks and succeeded. With no annual fee, the card is requested and managed entirely through an application. Even locking, unlocking and changing the limit can be done this way.

Following this trend, other cards with similar proposals have already emerged, such as the type, which arrived with the Visa brand and the structure of its administrators Banco do Brasil and Bradesco.

At an event this morning at its headquarters in São Paulo, the Nubank announced its new service checking account, NuConta, check out the news now.

NuConta, practical and free

Who has a credit card Nubank one day he dreamed of having a complete bank with all this ease. Champion of praise on social networks, which would be unimaginable for the country's financial giants, the purple, as it's known to users, got it right once again.

A NuAccount will work fully for application, just as it is today for the credit card. There will be no maintenance fee or any fee, depending on the company. For those who are already a customer, you can activate it through the application, once the order is approved, just transfer the amount you want and start using. For new users, there will also be registration through the app with the same simplicity than in the card register. The company promises that in 3 minutes it is possible to open a NuConta.

Second David Vélez, one of the founders of StartUp, in a few months the service will be available for the entire country:

“A revolution only makes sense if it is for everyone”.

automatic yield

Na NuAccount all money that is transferred starts to pay automatically 8,13% per year, higher yield than conventional savings. Furthermore, the income every working day, different from other investments such as savings itself, with minimum withdrawal periods.

As the company's website states, "as the money you put in your NuConta is invested in government bonds, the yield is very close to the Selic rate, while the savings rate is set at 70% of the Selic + TR".

It is possible to follow this Historical also in the app itself, with graphs showing daily or monthly growth. There are no fees charged for this service.

Real-time transfers

Another facility brought by the company are the Unlimited transfers through the app. To transfer money from a NuAccount for another just select the option in both applications. The user making the transfer must scan a QR code on the recipient's cell phone and, after showing the data on the screen for confirmation, the money is transferred at the same time.

There is no time limit, the transfer can be made at any time on any day of the week.

For transfers to other banks, the account offers the TED option Without cost some, which in other banks has relatively high fees. The deadline must rely on the financial system of the other institutions, therefore, it cannot be stated by NuBank.

Nubank card payment

Paying the card bill promises to be another big ease. For those who are customers of both services, payment can be made in seconds, simply choosing between total or partial. There is also no time limit for this operation, it works 24h per day and the limit is released at the same time.

For now the NuAccount only available in version beta. To apply, you must enter the website nubank.com.br/nuconta/ and place the order.

Officially, NuBank is a “Payment Account”, so it does not have all the features of a current account. Therefore, some services such as payment of ticket, scheduling of transfers and debit card for withdrawals will not yet be available. The company says it intends to constantly improve the novelty.

Today it is possible to withdraw up to 5% limit with your credit card. NuBank does not charge fees for this, but the operation is subject to an IOF charge and a fee charged by the ATM administrator.

According to a Vélez, in the next few days the account will start to be released giving priority to current credit card users and, in a few months, it should be available to everyone in its final version.

Source: Nubank

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