nubank digital banking
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Nubank review

Nubank is a hugely successful digital bank based in Brazil. Quickly becoming one of Latin America’s most valuable start-ups, Nubank offers customers a new way to bank. The company holds a license from the Brazilian Central Bank, and all deposits made into your account at Nubank are considered low risk.

How to open an account at Nubank

Opening a NuConta account with Nubank is easy; it can be done online in minutes, and like most digital banks, Nubank is focused around online banking, which all happens out of a branch. It’s also completely free to open any NuConta account.

One of the primary selling points of Nubank is that they offer competitive rates to customers with zero fees to open or hold a NuContra account. Customers will be charged a R$6.50 fee when withdrawals are made, though it’s worth considering that this is the standard network charge that all banks must pay for ATM and other withdrawals. In essence, Nubank’s rates are a fantastic deal for customers in Brazil today.

Nubank offers two primary kinds of accounts: NuContra, the account aimed at personal customers, and Contra PJ, Nubank’s business account option. Currently, fees are charged for neither account, and the personal NuContra account is what Nubank is probably best known for. Both accounts offer reasonable rates and convenient access, two high priorities for all customers.

How can I add funds to my NuContra account?

Adding funds to your NuContra account is accessible and straightforward. This can be done via bank transfer, cash top-ups, or your own salary as an employee.

Nubank mobile app

Like most digital banks, most of your banking with Nubank will be conducted via its app. This app is easy to use and well designed, providing a perfectly convenient platform to conduct all your banking on the go.

Savings, loans, and cashback

Nubank isn’t a traditional bank, so it doesn’t offer a dedicated savings account. Still, the standard rates on the all-inclusive payment accounts offer great interest at 100% the Interbank Deposit Rate every day. In other words, while it isn’t technically a savings account, a NuContra account provides a very good home for your savings regardless.

Nubank offers loans at fair rates. They’re also fully transparent about when and how much you’ll have to pay, even offering simulations so you can see when you’ll have to pay before undertaking a loan. Loans are still a new feature to the NuContra account, so not everyone will be eligible, but if these are rolled out more widely, they are bound to be popular.

Nubank offers a rewards program that will reward you with 1 point for every $1 you spend. These points don’t expire and can be used with restaurants, flights, and accommodations all around the world. While there are limitations on what your money can be spent on, this bonus is fantastic when combined with the winning interest rates that Nubank offers.

Travel with Nubank

The Nubank Mastercard is international and can be used all around the world. This makes Nubank a great option for globetrotters.


Nubank is a revolutionary banking service offering Brazilians a convenient and cost-effective way to bank, get paid, earn interest, and spend with minimal fees and complete transparency. Nubank is probably best for personal customers, as their business account is still burgeoning and offers little over and above the personal account – though it is still free.

There’s little surprise that Nubank is quickly becoming the bank of choice among young Brazilians looking for an easy way to bank without paying extortionate fees.