Cuenta Nu, revolutionizing savings, transactions, and financial planning in Mexico

Mexico City, August 13, 2024 – In May 2023, Cuenta Nu entered the Mexican financial landscape and has since continually evolved to facilitate the financial lives of its users. Cuenta Nu has positioned itself at the forefront of digital finance, prioritizing customer participation in the constant development of new functionalities that meet their needs. Furthermore, it encourages savings and planning while expanding transaction possibilities to make its clients’ experience easier, faster, and more intuitive.

Promoting education and good habits in personal finance is a priority for Nu Mexico. For this reason, the company encourages users to separate their money, fostering financial organization, and intentionally pays yields only in “Cajitas Nu” (Money Boxes). These digital boxes are within the user’s main account where they can deposit their savings while also stimulating clients to separate their money for periods of time to develop the habit of long-term saving.

To adapt to the savings needs of each client, Nu offers yield options depending on the deposit duration, either with 24/7 liquidity – and a preferential rate of 13.50%, starting on August 22nd and valid until October 9th, 2024 -, or differentiated returns when freezing savings. This strategy, which promotes good financial habits, offers one of the most competitive yields in the market, adapting to Mexico’s macroeconomic and competitive factors, without fine print or special conditions. The rates of the frozen savings, starting on August 22nd, at 7, 28, and 90 days are 13.60%, 13.90%, and 14.75%, respectively. The “Ahorros Congelados” (Frozen Savings) yield may vary according to what is established in clients’ Cuenta Nu contract.

To streamline money management, “Multiple money boxes” were also created to allow users to separate their savings into up to 10 different saving goals.

More functionalities to eliminate financial barriers

A standout feature of Cuenta Nu is its ability to receive money from the United States quickly, simply, and economically, eliminating the barriers of international transactions. Nu has also joined forces with Banxico’s Dimo, a transfer system that further improves these types of operations, providing increased speed and security for its users in Mexico. 

Understanding and adapting to the local context, Nu has focused on expanding its network to more than 4,400 establishments to offer varied options for depositing and withdrawing cash throughout the country, allowing users to have total control over their accounts. 

But Cuenta Nu doesn’t stop there. Nu continues to work on new ways to expand transaction possibilities and close existing financial gaps to make Cuenta Nu the most comprehensive and useful for all people in Mexico.

Features that promote financial well-being

The transformative effect of Cuenta Nu is undeniable. In just one year, the platform has managed to attract more than 3 million users, and according to March 2024 data from the CNBV’s Sofipos sector statistical report, Nu Mexico holds 47% of the sector’s deposits and 43% of its customers, making the company the leading entity of its kind in the country. However, beyond the numbers, there’s the positive impact that can be measured in terms of tranquility and reduced financial stress that customers have reported. 

According to a survey conducted with a thousand Nu clients, 76% found that immediate notifications of any activity on their account provide them with peace of mind. In addition, 66% revealed that Cuenta Nu’s simplicity and ease of use have significantly reduced their financial stress. 

The goal of Cuenta Nu is clear: to be the primary account for Mexicans. Through customer-centric strategies and innovative features, Cuenta Nu is reimagining what savings accounts and debit cards can be, offering simplicity, security, transparency, and total control over a person’s financial life. 

All these innovations make Cuenta Nu a preferred choice for the finances of many Mexicans.