Nubank plans zero fee remittances to Latin America

Nubank plans to offer fee-free international remittances from the United States to Latin America with minimal foreign-exchange spreads. Founder and CEO David Vélez detailed the strategy during the Nu Era presentation on 10 September 2026, marking the company's arrival in the US market.

The executive noted that sending money from the United States to countries like Mexico or Colombia currently costs users between 5% and 10% per transaction, alongside recipient fees. Nubank decided not to seek direct profit from remittances, aiming for the service to remain financially neutral while strengthening relationships across its customer base.

Nubank aims to connect about 80 million Hispanic residents in the United States with its more than 140 million customers across Brazil, Mexico, and Colombia. US clients will be able to send funds directly to any Pix key in Brazil, Bre-B account in Colombia, and CLABE account in Mexico, even if the recipient does not hold a Nubank account.

The cross-border transfer initiative forms part of Nubank's launch of Nu Global, a multi-currency service expanding across 35 countries with accounts offering yields in US dollars and euros, as well as cashback credit cards in the United States. Vélez stated that global transfers over coming decades should resemble Brazil's 24/7 instant, free payment system.