Nubank’s Money Boxes now have an auto-invest feature
Named “Programar Caixinhas” (Programming Money Boxes), the new feature also includes a simulation of the amount that needs to be deposited monthly to reach the pre-established financial goal, and further improves the customer’s experience
Oct 17 , 2022
São Paulo, October 17, 2022 – As of today, Nubank’s customers who adopted the Caixinhas (Money Boxes) financial planning resource can reach the financial goal of the defined objective in a more practical way through the Programar Caixinhas feature – which will gradually be made available to the entire user base throughout the month of October. The novelty is an auto-invest feature that allows people to program recurrent deposits to their Caixinhas in the app.
“The proposal of Caixinhas is to accelerate the realization of people’s dreams or goals by encouraging the habit of saving money and having profitability in a simple and at the same time efficient experience. The new auto-invest feature is an important step for this to occur in an automated way, so that the customer maintains the commitment to the financial goal they have set and can focus on other day-to-day activities”, highlights Fernando Miranda, Vice-President of Investments at Nubank.
With the Programar Caixinhas feature, customers can choose the desired amounts and the best day of the month for deposits among six date options. The transfer happens automatically from the Nubank account, with the user being notified in advance – customers can pause or cancel the transaction immediately and whenever they want.
Within the Caixinhas experience, the customer can set a financial goal linked to each desired objective or dream. This evolution can be tracked through a progress bar. The implementation of the Programar Caixinhas tool also includes a simulator that helps the person understand what is the amount that must be saved (or deposited) each month to reach the financial goal of a Caixinha in the predefined time frame. This tool is accessible to all customers, regardless of whether they opt for automatic deposit recurrence or not. At this moment, the yield from the investment options available for the configuration of the Caixinhas is not considered in the simulation.
More about Caixinhas
Announced in July and currently available to over 66.4 million Nubank customers in Brazil, Caixinhas were conceived with the proposal to give people more autonomy and help them save money in an organized, uncomplicated, personalized way, and with the possibility of yields of 100% of CDI or more over time – from the first business day after application. This product also allows customization with names and photos for each Caixinha, linking the act of saving money to personal plans. Since the beginning of the gradual rollout of Caixinhas, in July, Nubank has registered more than 2.6 million customers who have used the tool. In this period, more than 3.6 million Caixinhas have already been created.
Currently, two investment possibilities are offered in Caixinhas with yield from the first day of the application and on all business days: the RDB, with a yield of 100% of the CDI and the possibility of immediate liquidity (Caixinha Emergency Reserve) or daily (other Caixinhas), and Nu Reserva Imediata, a fund with a strategy focused on fixed income with daily liquidity and the potential to outperform the CDI rate over time.
From its launch in February to September, Nu Reserva Imediata has had a performance of 108% of CDI, which is equivalent to approximately 168% of savings accounts in the same period. Specifically in September, the profitability of this fund was 110% of the CDI (173% of savings accounts).
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