Latam's Nubank partners with Remessa Online

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Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • Nubank, which has been described as the largest digital bank in Latin America, has confirmed that it will work alongside Remessa Online to provide online money transfer services.
  • Nubank’s current clients will be able to access the new service at a significant discount for the first few weeks of the partnership.
  • “Offering international transfers through a partnership was the best way found to offer our customers this additional service as soon as possible,” said a spokesperson for Nubank.

Nubank, a leading digital bank in Brazil, has confirmed that it will start to work with online money transfer company Remessa Online.

Nubank, which has been described as Latin America’s biggest digital bank, said on Monday that it will work alongside Remessa Online to offer the new service to customers across the country.

According to press reports, Nubank’s customers will be able to make the transfers immediately.

Current Nubank customers will be given a discount on transfer administration fees.

This discount is currently expected to be 15% of the fees.

However, the discount is only set to be valid for the first eight weeks of the partnership programme.

In a statement, Nubank’s co-founder said setting up the system quickly was a key goal for the organisation.

Cristina Junqueira said that the firm had looked at various ways to get the scheme off the ground.

“Offering international transfers through a partnership was the best way found to offer our customers this additional service as soon as possible,” she explained.

The move comes after a busy few weeks for Nubank in terms of new product and service launches.

Earlier in July the organisation announced a new card called the Nubank Ultraviolet.

According to the firm, it offers 1% cashback on every purchase made by customers.

“The Nubank Ultraviolet was created to reinvent the concept of premium,” the firm said in a statement.

“Nubank Ultraviolet has 1% cashback on all credit purchases – it is instantaneous and the money that is not moved grows to 200% of the CDI.”

It also went on to say that the cashback can be kept on the account indefinitely.

“This cashback never expires and can be used in many ways: to invest, save for a trip, exchange for points, spend at a restaurant… Or all of these things together.”

Nubank has been described in the press as the biggest digital bank in Latin America.

It was launched eight years ago and is now used by over 40 million people around the world.

Nubank has a presence in every Brazilian city.

If you would like to discover more about the latest workings of the international money transfers sector, head over to our website’s reviews section and look at some of the providers in this sphere before making a decision.


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