Nubank Ultravioleta launches global account with Wise

This platform, provided by Wise, serves as a prominent global infrastructure solution utilized by banks and major corporations. As of today, Ultravioleta clientele can register in advance for early access to the service, which is scheduled to roll out in the forthcoming weeks.

The Global Account offered by Nubank Ultravioleta facilitates instantaneous balance conversions from Brazilian Real to US Dollar and Euro through the Nubank mobile application, eliminating the need for managing additional apps or conducting inter-account transfers. Furthermore, it presents an exclusive conversion rate of 0.9%, marking one of the lowest rates within the segment. This rate is based on favorable exchange rates employing commercial dollar or euro, accompanied by a reduced IOF (Imposto sobre Operações Financeiras, a Brazilian tax for foreign operations) of 1.1%. This option proves to be more economically advantageous compared to conventional credit cards for international travel, potentially yielding savings of up to 9%.

The debit card linked with the Global Account extends coverage across over 200 countries and territories. Ultravioleta customers are exempt from fees for card issuance, as well as the opening and maintenance of their Global Account. Additionally, for those who prefer to carry cash during travels, the Global Account offers the convenience of two complimentary foreign currency withdrawals per month from ATMs worldwide, at commercial rates, with no withdrawal amount restrictions. Account setup requires just three clicks, allowing clients to manage their global financial affairs within a single app, bolstered by Nu's renowned 24-hour service.

Another notable feature of the Nubank Global Account is the provision of complimentary internet access during international trips. Upon subscription to the product, Ultravioleta customers receive 10GB of internet, valid for 30 days across more than 40 countries, facilitated by a virtual SIM card (eSIM) which can be activated annually. This initiative aims to alleviate concerns regarding international roaming charges, enabling travelers to remain connected upon arrival at their destination and optimize their trip experiences.