Recently, the Mexican subsidiary of Nubank, Nu, known for offering simple and accessible financial products without fees, has been the subject of rumors suggesting that the company may have gone bankrupt in Mexico. These rumors have caused concern among customers about the future of their cards and bank accounts.
In light of these speculations, it is important to clarify that Nu has not gone bankrupt. What actually happened is that the company communicated to its customers via email an adjustment in the rates of its Cajitas de Cuenta Nu service. Starting October 10, 2024, the preferred rate for Cajitas de Cuenta Nu was reduced to 12.50% (previously 13.50%) and will remain so until November 27, 2024. Additionally, Nu will offer fixed yield rates based on the money freezing term chosen by the customer.
Regarding Nu Mexico’s debit and credit accounts and cards, there will be no changes affecting current customers. All Mexicans who are already customers of this bank can continue using the same services without interruption. Nu Mexico is currently the largest Sofipo in the country and operates under the regulation of the Savings and Popular Credit Law, supervised by entities such as the CNBV, Banxico, and Condusef.
If you are a Nu Mexico customer, you will be able to continue performing transactions such as receiving deposits, transfers, paying bills, issuing debit cards, and requesting loans and credits under the same conditions. These changes in the rates of Cajitas de Cuenta Nu are adjusted to macroeconomic factors such as inflation and the exchange rate, and are designed to provide transparency and security to customers in their savings and finances.
