Nu México has received CNBV authorisation to operate as a bank from 6 August 2026, after completing a technical migration.
The transition follows a planned technical migration of Nu México's SOFIPO infrastructure, scheduled for 5 August 2026. During this window, certain services, including SPEI transfers and in-app access to balance checks and statement downloads, will be temporarily unavailable. Debit and credit card operations will continue to function without interruption, and customer funds will remain accessible throughout the process.
In addition, Nu México said it will notify users of the migration window one week in advance via email and in-app messaging, allowing customers to plan transactions accordingly. Support will remain available by phone during the suspension period.
Regulatory background
Nu México previously operated as a SOFIPO (Sociedad Financiera Popular), a category of regulated non-bank financial institution in Mexico that allows deposit-taking and lending activities under a lighter regulatory framework than full banking licences. Securing CNBV authorisation to operate as a commercial bank represents a change in regulatory status, bringing the entity under the supervisory framework applied to licensed banks in the country.
Nu entered the Mexican market in 2019 and, according to the company, currently serves close to 15% of the country's adult population. Since its entry, customers have saved an estimated USD 2.8 billion in fees, annual dues, and transfer costs, based on figures provided by the company covering the period since 2019.
The company also cited internal survey data indicating that nearly 60% of its Mexican customers report using less cash since becoming Nu customers, while 86% describe the impact of the service on their finances as high, particularly in relation to financial stability and control.
Implications
The shift to a full banking licence extends the range of regulatory permissions available to Nu México, aligning its status with that of traditional banks operating in the market. According to Armando Herrera, CEO of Nu México, the change is intended to support continued expansion of services while retaining the operating model the company has used in Mexico to date. The move follows a broader pattern across Latin America in which digital-first financial platforms transition from limited-licence structures toward full banking status as customer bases and transaction volumes scale.
Nu Holdings, the group's parent company, operates in Mexico, Brazil, and Colombia, with Mexico representing one of its more recent markets for full banking operations.
