Nubank Ultravioleta eyes up travel segment as ‘priority’

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Nubank Ultravioleta, the exclusive experience for high-income Nubank customers, has entered into the travel segment in partnership with Wise Platform.

Nubank Ultravioleta has made its entrance into the sector with the pre-launch of its Global Account, which will allow users to instantly make balance conversions from Real to Dollar and Euro through the Nubank app without the inconvenience of managing a new app or transferring money between accounts.

Livia Chanes, CEO of Nubank, commented: “The Global Account at Nubank Ultravioleta comes to meet the growing demand from high-income customers for international financial solutions that are flexible and advantageous.”

Nubank has boasted that the product has an exclusive conversion rate of 0.9%, with a ‘favourable’ exchange rate using the commercial Dollar or Euro, and a reduced IOF (a Brazilian tax for foreign operators) of 1.1%, which the firm says could bring savings up to 9% compared to traditional credit cards for international travel.

The debit card linked to the Global Account provides coverage in over 200 countries and territories, with Ultravioleta customers able to benefit from no fees for card issuance, opening, or maintaining the Global Account.

In addition, the Global Account offers the convenience of two free foreign currency withdrawals per month, with no limit on the amount, from ATMs around the world, at commercial rates.

Another perk of the Nubank Global Account is complimentary internet access during international travels. Ultravioleta customers will receive 10GB of internet data, valid for 30 days, in over 40 countries, via a virtual SIM card (eSIM), which can be activated once per year.

Chanes added: “The travel segment is a priority for this audience and we enter it with the Ultravioleta differentials that customers already know – a product developed specifically for their needs, with a 100% integrated experience in our app, which can be used anywhere in the world, with special conditions and unique benefits, such as better conversion rates, as well as free internet included.”

The firm has announced that customers can pre-register for early access to the service, which is set to be launched in the upcoming weeks.

This product has been created in partnership with Wise Platform, Wise’s market-leading global infrastructure solution for banks and large companies. Recently, the firm released its third-quarter results for its 2024 fiscal year, highlighting a 30% growth in customer base.