The C6 Bank a fintech Brazilian company that offers digital account without fees with opening via application. Similar to Nubank, Neon, and Inter Bank, the financial institution has no physical agencies and offers entirely online service: the user downloads the Android or iPhone (iOS) app, signs up for virtual chat, and requests the debit or multiple debit card and credit to receive at home.
In addition to exempting the customer from the maintenance fee, the digital bank offers free toll payment and does not charge for operations, including transfers and withdrawals on the Banco24Horas network. Check out the lines below for the key information you need to know about the new fee-free account solution that works via the app.
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C6 Bank offers free account and non-annuity card Photo: Reproduction / Paulo Alves
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1. What and how does it work?
Founded in 2018 by former BTG Pactual bank employees, C6 Bank obtained a license from the Central Bank in early 2019. In May, the fintech has opened access to testers through the invitation system, but currently allows anyone over the age of 18 to download the app and open an account.
After registration, the account created and the user receives at home one of the chosen cards: debit, debit and credit, or the only annuity C6 Carbon that offers extra advantages. Anyone can open an account and apply for the free debit card. To request the other two objects, however, the bank makes the release conditional on a CPF credit analysis.
The basic account (debit card) type "payment", which has more restricted functions and maximum movement limit of $ 5,000 per month. Already the checking account (multiple card or Carbon) releases investments and offers more in-app functions such as more detailed queries and statements.
Free account without credit analysis allows you to move up to $ 5,000 Photo: Reproduction / C6 Bank
2. How to open digital account?
C6 Bank does not offer registration form. When downloading the application, the user accesses a chat with a bot responsible for the process. I just need to follow the instructions and provide the data that is requested.
You must enter your name, email, phone number, address and monthly income, as well as personal data such as profession and document numbers such as your Social Security Number, ID and Driver's License. The registration process also involves capturing a selfie and a life test with biometric data. When the card arrives at the address indicated in the registration, the user must unlock the application by entering the security code (CVC).
Account opening at C6 Bank if d by mobile Photo: Reproduo / Paulo Alves
3. What are the main resources available?
Digital account customers can make free deposits, make unlimited free withdrawals at Banco24Horas, and perform free TED and DOC transfers to other banks. There is also the C6 Kick function, which allows you to make transfers without knowing the recipient's account number: just enter the person's name and mobile phone and share a link via SMS or WhatsApp that the bank is responsible for finalizing the transaction. If the amount is greater than $ 1,000, I must also inform the taxpayer CPF.
C6 Bank also offers, thanks to C6 Taggy, a tag toll collector who makes automatic payment on bank gate at no additional cost. In general, this type of service requires monthly payment.
The digital bank, although newly launched, also has a rewards program: the tome. Available for C6 Carbon customers only for now, it offers 2.5 points for every dollar spent. Soon, the bank promises to launch a store to transfer the card's score to other programs, such as Smiles and Multiplus.
C6 has three card types, only one with annuity Photo: Playback / C6 Bank
4. What is the difference between C6 Bank, Nubank and other digital banks?
C6 Bank, like Inter Bank, does not charge for withdrawals. Nubank, for example, debits R $ 6.50 per withdrawal at Banco24Horas. In addition, the bank offers CDB of 118% of the CDI, against the maximum of 100% of the "purple". In terms of investment, however, Banco Inter comes ahead with a complete platform with fixed income, savings, funds and home broker.
Another difference is in personal credit, which is offered by Nubank and Inter, but is not present in C6. The bank has a pre-approved overdraft for C6 and Carbon card customers. The promise is to release the advantage, soon, also for those who have the credit card without annuity.
There are also differences in revolving interest, applied when there is a late payment of the credit card bill.
- C6 Bank: 2% fine on the outstanding + revolving balance (10.7% per month) + IOF;
- Inter Bank: fine of 2% on the outstanding + revolving balance (7.7% per month) + IOF;
- Neon: 2% fine on the outstanding + revolving balance (9.9% per month) + IOF;
- Nubank: 2% fine on the outstanding + revolving balance (2.75% to 14% per month) + IOF.
5. If the digital account does not charge fees, how does C6 Bank make money?
Like other banks that do not charge card maintenance or annuity fees, C6 Bank seeks to profit from extra services, such as the $ 1,200 annuity Carbon card, and by charging interest in the event of payment of the card. invoice.
C6 Bank also offers a Corporate Account that charges $ 4 for TED after 100 transactions per month and offers C6 Pay card machines for a monthly fee.
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