The fintech Nu, founded by David Vélez, has launched the Turbo Box, a savings option with an annual yield of 15% and immediate liquidity, aimed at those looking to save effectively. The Box is automatically activated for users who make at least one transaction per month with Nu debit or credit cards, keeping the functionality active with a monthly transaction regardless of the amount. It allows deposits of up to 25 thousand pesos with interest at a lower rate once the limit is reached, promoting the circulation of money within the Mercado Libre ecosystem.
On the other hand, Mercado Pago also offers annual returns of 15%, but requires a monthly deposit of 3 thousand pesos to maintain this percentage. If this requirement is not met, the yield drops to 10%. The account with Mercado Pago yields reflects earnings daily, provides quick access to money, and is regulated by the National Banking and Securities Commission, ensuring the security of investments.
Nu's Turbo Box stands out for its immediate liquidity, absence of usage fees, and the ability to manage it easily from the application, as well as offering the option to transfer excess funds to other accounts with different interest rates. Furthermore, Nu plans to expand its future offerings by becoming a bank in Mexico, after receiving approval from the CNBV.
In summary, both options offer an attractive yield but differ in the requirements to maintain it. While Nu only requires one monthly transaction, Mercado Pago requires a specific monthly deposit. Each user must evaluate which option best fits their financial and savings needs.
