Nu launches as a bank in Mexico in August; services to be temporarily suspended one day prior

Nu Mexico is set to commence operations as a multiple banking institution on August 6, following regulatory approval from the National Banking and Securities Commission (CNBV) on July 10. This transition marks a significant expansion for the digital financial services provider in the Mexican market.

To facilitate this change, Nu will conduct a planned technical migration of its infrastructure on August 5. During a five-hour window, between 17:30 and 22:00 hours, certain services will be temporarily unavailable. These include SPEI transfers and access to the mobile application for checking balances, transaction history, or downloading statements. Debit and credit cards will continue to function normally, and customer funds will remain protected.

Nu plans to notify its users about the migration via email and the app a week in advance, allowing them to schedule transactions accordingly. Customer support will remain accessible via telephone during the service suspension.

Upon launching as a bank, Nu will serve more than 15 million customers in Mexico, positioning it as the country's largest digital bank. The company highlighted that its clients have collectively saved approximately 48.5 billion pesos in fees, annual charges, and transfer costs. Furthermore, a significant majority of users report reduced cash usage and improved personal finance management since adopting Nu's services. This move is expected to strengthen Nu's presence in Mexico's financial system, where it currently serves about 15% of the adult population.

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This milestone is a starting point to continue accompanying our clients closely. Operating as a bank gives us the tools to evolve alongside them, maintaining the same essence, simplicity, and transparency as always, now with more possibilities.