Digital banks are on the rise in Brazil, with an estimated 11 million new accounts in early 2019. The Boston Consulting Group's calculation, which, based on public data, estimates that between 500,000 and 1 million accounts are open monthly on these platforms. Announced as agency and queue-free, options like Nubank, Inter Bank and Neon promise to solve almost everything online, with powerful Android and iPhone (iOS) apps.
Having started as credit card accrediters, traditional banks or fintechs Financial market startups, these institutions have in common online solutions and exemption from some fees, such as account maintenance and wire transfer fees. O TechTudo has separated six options from digital banks that increasingly receive customers in Brazil.
Nubank 'Rival' has no fees card and no fees
Digital banking customers have grown in Brazil Photo: Reproduction / Raquel Freire
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Nubank does not charge Nuconta maintenance fee and offers non-annual cards Photo: Dvulgao / Nubank
Nubank started out as a non-annual credit card service, but today it also offers NuConta, a flat-rate digital account that is fully managed by the app. It is possible to open online, through the Nubank app, available for Android and iPhone (iOS). The account can be created independently of the credit card, and the bank now offers the debit function, as well as withdrawals on the Banco24Horas network.
NuConta has no maintenance fee and the amount left in the checking account has an automatic yield and does not charge transfer fees to other banks. To transfer to NuConta, you can either make a TED or generate a ticket through the app. The disadvantage of the digital account is the fee of $ 6.50 charged for each withdrawal at Banco24Horas.
Inter Bank does not charge fees and has lower interest Photo: Anna Kellen Bull / TechTudo
Banco Inter is a financial institution that offers digital account opening without charging fees. The opening can be done online through the bank app, available for Android and iPhone (iOS). Inter has no maintenance or transfer fees and, unlike Nubank, does not charge for withdrawals from the Banco24Horas network. The institution offers payments through QR Code and it is possible to generate slips and make check deposits through imaging.
In addition, Inter offers investment, loan, financing and insurance services. The institution also provides a credit card, which has one of the lowest interest rates practiced by digital banks. The downside is that the money in the checking account doesn't automatically yield like Nubank's NuConta, although Inter offers investment options to those interested.
Neon digital accounts can be managed through a mobile app. Photo: Divulgao / Neon
Neon is also an exclusively digital bank, so the account must be opened through the Android and iPhone (iOS) app. The bank offers the user a physical card and a virtual one. In physics, it is possible to use only the debit function. Purchases by prepaid credit must be made with the virtual card. The customer can also request a digital card which is international, has no annual fee and may have the invoice registered in automatic debit.
The disadvantage of Neon that it charges, from the second use in the month, for services such as TED, issuing slips and withdrawals on the Bank24Horas network. However, the bank has a loyalty program called Neon +, which can exempt customers from some fees, depending on their credit card spending.
Next Bradesco's digital bank Photo: Divulgao / Next
Banco Next is Bradesco's digital bank, launched in 2017. The account, which should be opened by the app, has no maintenance fees and provides an international credit card to the customer. The bank has a feature called "Goals," a type of scheduled savings that yields on an investment fund. Another feature is "Flow", which separates ms spending by categories and produces graphics.
The institution does not have its own agency, but it can be serviced directly at Bradesco, as well as withdrawing money from bank tellers. The service also has a "kitty" that gathers money from different people for a joint project, and also offers discounts on partner services like movie theaters and hotels. The disadvantage of Next is that, in its basic plan, it has only one free transfer to banks other than Bradesco.
Banco Original offers investments in funds and fixed income Foto: Divulgao / Banco Original
Banco Original offers some types of digital accounts, from which it does not have credit card maintenance or annuity fees to those with more features, which may charge fees. In the basic option, the customer is entitled to two transfers to the Original Bank, four withdrawals and two bank statements. Under this plan, TEDs are paid in part.
One of the biggest differentials of the Original your program of cashback. The customer accumulates points for purchases made on the card, which will be converted to reais credited to the following month. The highest scoring factor according to card type: International, Gold, Platinum or Black. Banco Original also offers salary portability, mobile recharge, image check deposit, financial manager and payment slips services.
Agibank records the mobile number as identification of the colda Photo: Raquel Freire / TechTudo
Agibank also operates digitally and registers the customer's mobile phone as the account number, as well as offering an international debit and credit card. The account must be opened by the app, available for Android and iPhone (iOS), or the website. The bank has investments in CDB (Bank Deposit Certificate), consortia, insurance and loans. The customer may also choose to receive their salary on the account.
An advantage of Agibank is that it has 600 points of service in several cities. The bank also allows QR Code payments and transfers, free of charge, through the Agibank Pay service. Free annuity only in the first year after, it is necessary to consult the conditions for exemption. Free services, such as withdrawals, billet generation and transfers, are limited in numbers per month. Withdrawals can be made at Banco24Horas network or in lottery houses.
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