Nubank Review 2026: Savings, Safety and Who It Suits

Nubank is worth opening if you live in Brazil, Mexico or Colombia and want a free, app-only current account, a credit card without branch visits and a savings pot that pays a share of the benchmark interest rate. It is not an option if you live anywhere else, and it is not built for holding or spending foreign currencies. Its parent, Nu Holdings, reported 139 million customers in its second-quarter 2026 results (13 August 2026): almost 118 million in Brazil, 15.8 million in Mexico at quarter-end and more than 5 million in Colombia.

The useful questions are therefore narrower than "is Nubank good?": what you earn on savings, how your money is protected in each of the three countries, and what Nubank cannot do for someone who lives or earns across borders. This review answers those with figures read on Nubank's, Nu Holdings' and the deposit schemes' own pages in October 2026.

Nubank in Numbers

The same results release says Nu launched its bank in Mexico in August 2026 and calls it Mexico's largest digital bank. That is the company's own description, not an independent ranking.

Savings in Brazil: What 100% of CDI Means in Money

Nubank's savings pots in Brazil, called Caixinhas, pay 100% of the CDI, the interbank rate that most Brazilian fixed-income products track. Nubank's page says they charge no fees, allow withdrawals at any time and are protected by the FGC like a traditional savings account. Tax is due only on the yield and is deducted automatically.

The CDI moves with Brazil's policy rate, so the yield changes over time. On 15 October 2026 the Banco Central do Brasil's data series for the annualised CDI showed 13.65%. A worked example at that rate, assuming it stayed unchanged for a year:

• R$10,000 x 13.65% = R$1,365 of gross yield in a year.
• Income tax and, for withdrawals within 30 days, IOF come off the yield, not the deposit, so the net figure is lower.
• The Caixinha Turbo pays more: Nubank lists 115% of CDI if you move R$900 a month through the account, and up to 120% for Nubank+ and Ultravioleta customers. At 115%, the same R$10,000 would earn about 10,000 x 13.65% x 1.15 = R$1,570 gross.

The comparison that matters is with what your own bank pays on instant-access money, not with headline rates in other countries, because CDI-linked yields reflect Brazil's interest-rate level and inflation.

How Your Money Is Protected in Each Country

Deposit protection is national, so the answer differs in each of Nubank's markets. The limits below come from each scheme's own website.

Two worked examples show how the limits bite:

• Brazil. R$300,000 kept in Caixinhas: R$250,000 is within the FGC limit and R$50,000 is not. Moving R$50,000 to an institution outside Nu's conglomerate would bring everything under a guarantee.
• Colombia. Fogafín's own guidance gives the case of a depositor with COP 97 million at one institution: COP 50 million is paid by the insurance, and the rest must be claimed from the liquidator.

In Mexico the limit is set in UDIs, an inflation-indexed unit, so its value in pesos changes over time; check the current UDI value with IPAB or Banxico before relying on a peso figure. Our explainer on whether neobanks are safe covers the bank-versus-e-money distinction that applies in every market.

What Nubank Does Well

Free core banking and a no-annual-fee credit card. The everyday account and the core card carry no annual fee, which is the product that built Nubank's reputation in a market where incumbents charged for basics.

One app for everything. Card, account, savings, loans, insurance and investments sit in one app, so adding a product is a few taps rather than a fresh application.

Credit for thin files. Nubank's underwriting is designed to assess applicants with little formal credit history, which gives first-time borrowers a realistic path to a starter credit line. How that kind of model works, and where it can go wrong, is covered in how AI is changing banking.

Where Nubank Falls Short

Only three countries. Accounts are tied to residence in Brazil, Mexico or Colombia. If you live elsewhere, look at the regional leaders in our best neobanks of 2026.

Domestic by design. Nubank is not a multi-currency account. People who earn in dollars or euros, travel often or send money home should pair it with a cross-border account; our Wise vs Revolut transfers comparison shows what that adds.

Rates and terms differ by market. The savings figures above are for Brazil. Products, rates and fees in Mexico and Colombia are different, so read the terms in the app for your country.

No branches. Support is digital. If you need in-person service, Nubank is not designed for it.

How Nubank Makes Money

Like most digital banks, Nubank earns mainly from interest on credit and interchange on card spending, rather than from account fees. That model rewards it when customers borrow and spend, which is worth remembering when the app suggests a higher credit limit. We break down the economics in how neobanks actually make money.

Getting Started

Sign-up happens in the app: you provide your identity details, complete verification, and either receive a decision straight away or wait while Nubank assesses you. Start with whatever product you are approved for, use it on time for a few months, and let your track record build before asking for more credit. Keep spare cash in a savings pot rather than the non-interest balance, and keep an eye on the FGC limit if your savings grow large.

The Verdict

In Brazil, Mexico and Colombia, Nubank is a strong default for everyday banking: free core accounts, a mobile-first credit card, scale that few challengers anywhere can match, and in Brazil an instant-access savings pot paying 100% of CDI under FGC protection. It is the wrong tool for multi-currency life, and it is simply unavailable outside its three markets.

Frequently Asked Questions

Which countries is Nubank available in?

Brazil, Mexico and Colombia. Nu Holdings reported almost 118 million customers in Brazil, 15.8 million in Mexico and more than 5 million in Colombia in its second-quarter 2026 results.

How much does Nubank savings pay?

In Brazil, Nubank's Caixinhas pay 100% of the CDI, with a Turbo option at 115% for customers who move R$900 a month and up to 120% for Nubank+ and Ultravioleta customers. The CDI changes with interest rates.

Is my money protected at Nubank?

In Brazil, Nubank states its Caixinhas are covered by the FGC, which guarantees up to R$250,000 per person per institution or conglomerate. Mexico (IPAB, 400,000 UDIs per person per bank) and Colombia (Fogafín, COP 50 million per depositor per member institution) have their own schemes.

Can I open a Nubank account if I live abroad?

Generally no. Accounts are tied to residence in one of its three countries. Expats and travellers should use a multi-currency account instead.

This is general information, not financial advice. Deposit protection differs by country — confirm the scheme and limit that applies to your account in Brazil, Mexico, or Colombia before you rely on it.