At the end of last year, the Nubank brought good news and bad news: the credit card gained a debit function for the NuConta, but withdrawals cost R $ 6.50 each in the Banco24Horas (TecBan) and Saque e Pague networks. Fintech decided to carry out a test and reduce the value of this tariff to R $ 4 among some of its customers.
The reports, discovered by the website Your Digital Credit, come mainly from NuCommunity forum. Some customers are being notified via email and the app: NuConta says it has lowered the withdrawal fee for the next few months. It is a temporary thing: “before this period is over, we will let you know by e-mail”, says fintech.
“We are analyzing the implications of different price ranges for NuConta’s withdrawal fee,” explains Nubank in a statement to the Tecnoblog. “For this reason, we temporarily offer a small customer base the possibility of carrying out the transaction for amounts less than the R $ 6.50 charged today.”
Fintech also warns that, “despite this experiment, there is no forecast of changes in the way Nubank’s digital account operates today”. That is, the lower withdrawal rate should not be expanded to more customers so early.
The Nubank warning via app and email:
Customer pays R $ 4 of withdrawal fee at NuConta:
Banco24Horas project may reduce withdrawal fee
The value of R $ 6.50 has two components. Nubank pays approximately R $ 5.56 to use the Banco24Horas or Saque e Pague network: this finances the transportation and security of money, renting space for ATMs, equipment maintenance, among others. The R $ 0.94 corresponds to taxes on the withdrawal operation.
This cost is entirely passed on to customers. Other banks, such as Inter and C6, do not charge for the withdrawal.
About 40 institutions have a direct connection with Banco24Horas, including Itaú, Bradesco, Banco do Brasil, Caixa and Santander. Meanwhile, other companies need to use Mastercard’s Cirrus intermediary: therefore, the cost of accessing ATMs is up to 80% higher for Nubank, according to Reuters.
This should change soon: TecBan is preparing a system to facilitate access to ATMs, allowing fintechs to create “hubs” to connect directly to the Banco24Horas network. This project should be launched by the end of 2019, with the participation of C6 Bank, Nubank, Inter, Agibank and Banco Original.