Nu : Under-18 account reaches 3 million customers

São Paulo, May 23, 2024 - Nubank, the world's largest digital banking platform outside Asia, has reached the milestone of 3 million users of its account for under-18s, consolidating its position as one of the main market leaders among users aged between 10 and 17 who want to start their financial journey. The account for young people grew sixfold in the number of customers in 2023 and reinforces the institution's commitment to promoting financial education from an early age, guaranteeing parents' security and peace of mind simply and practically.

"More and more young people are attuned to finances, and the success of the account for under-18s is the greatest proof of this. We've been offering the solution since 2022 and have been following these customers' growth organically ever since. That's why we continue introducing new benefits for children and parents. Initially, we started offering the Money Boxes and parental control solutions - such as viewing account transactions and balances and Boxes - and now we have included Gift Cards for the youngsters and Transaction Notifications for parents," says Livia Chanes, CEO of Nubank in Brazil.

New features

Among the new features available on the account for children under 18 are the Transaction Notifications that integrate the Parental Control functionalities. The alert lets parents monitor their children's financial transactions in real time via the Nubank app. By activating the feature in the app's settings, parents will have greater visibility of the transactions made on their accounts without neglecting their children's financial autonomy. Last year, the company launched other features integrating Parental Control, such as viewing a feed of transactions and balances.

In addition, children and teenagers can now also buy Gift Cards in the app. This option offers 3 million customers exclusive discounts that can be used as gift vouchers or payment credits on platforms such as Xbox, Playstation, iFood, Uber, Spotify, among others.

Nubank's account for children under 18 is available for young people aged 10 to 17, as long as the legal guardian is a customer of the institution and makes the request through the app.