Banking · Retail bank
Nubank: payment account in Brazil, bank in Mexico
Latin America's leading digital player, present in Brazil, Mexico and Colombia under different statuses: a payment institution in Brazil and a multiple banking institution in Mexico since 2026. It is useful for settling in one of these countries, using local identity documents.
Please note
Characteristics
- Family
- Retail bank
- Regulator
- Banco Central do Brasil ; CNBV (Mexique)
- Regulator country
- Brazil
- Deposit guarantee
- Partly
- Remote opening
- Yes
- Currencies
- BRL · MXN · COP
- Services
- Current account · Payment card · International transfers · Savings
- Accepted residencies
- Not provided
- Refused residencies
- Not provided
- Home country
- Brazil
Each country has its own entity and its own conditions; these were not taken from an official page during this update. In practice, opening an account requires the local tax identifier (the CPF in Brazil, for example), which remains to be confirmed country by country.
Entities and regulatory status
| Entity | Jurisdiction | Status | Regulator | Protection of funds |
|---|---|---|---|---|
| Nu Pagamentos S.A. – Instituição de Pagamentoholds the accountHolds the conta, which is a payment account; according to Nubank, the funds are segregated from the institution's own assets and invested in government securities. | Brazil | Payment or e-money institutions | Banco Central do Brasil | |
| Nubank S.A., Institución de Banca Múltipleholds the accountHas operated as a bank since 6 August 2026; succeeds Nu México Financiera S.A. de C.V., SFP (a sociedad financiera popular since 2022). Licence approved by the CNBV, announced on 24 April 2025. | Mexico | Banks with their own licence | CNBV | IPAB (plafond non relevé) |
| Nu Colombiaholds the accountStatus and corporate name not verified during this update. | Colombia | Banks with their own licence | Superintendencia Financiera de Colombia (à vérifier) |
Who can open or keep an account
| Country of residence | Case | Status | Conditions |
|---|---|---|---|
| Brazil | Opening and keeping | Unknown | Conditions not retrieved. |
| Mexico | Opening and keeping | Unknown | Conditions not retrieved. |
| Colombia | Opening and keeping | Unknown | Conditions not retrieved. |
A country missing from this table is neither accepted nor refused: the information is not published.
Published figures
- Account feeNot provided
- Brokerage feeNot provided
- Deposit guarantee ceilingNot provided
- Entry ticketNot provided
Which entity, which status
In Brazil, the Nubank footer names Nu Pagamentos S.A., instituição de pagamento: the conta is a payment account, not a bank deposit (Nubank on account security). The status to bear in mind is therefore that of a payment institution.
In Mexico, Nubank S.A., Institución de Banca Múltiple, authorised and supervised by the National Banking and Securities Commission, has operated as a bank since 6 August 2026; it succeeds Nu México Financiera, a sociedad financiera popular since 2022 (Nu México). Approval of the licence by the CNBV had been announced in April 2025 (Nu press release).
The status of the Colombian entity has not been verified. The Brazilian entity that issues RDB-type investments is not named on the page consulted.
Who can open an account
The conditions for opening an account (local tax identifier, residence, nationality) were not taken from an official page, for any of the three countries. A Brazilian account does not follow its holder to Mexico: you must open one with the local entity.
Account, card and currencies
In each country, the offering includes an account in the local currency, a card, and savings and credit products. In Brazil, Nubank states that the account balance is invested in government securities and earns a return based on a local benchmark index after a minimum period.
Fees abroad, foreign-currency accounts and limits: not retrieved.
Protection of funds
In Brazil, the payment account is not covered by the Fundo Garantidor de Créditos: the funds are segregated from the institution's own assets and invested in government securities. RDB-type investments, however, are covered by the FGC according to Nubank.
In Mexico, the move to banking status brings deposits under the Mexican bank deposit protection scheme.
IPAB protection ceiling and exact scope of the products covered in Mexico: not retrieved.
Points to check
- In Brazil: distinguish the payment account balance (ring-fenced, outside the FGC) from investments covered by the FGC.
- In Mexico: check that the account has actually been transferred to the bank, and has not remained with the former entity.
- The local documents required at opening.