Digital banks like Nubank and Inter are already part of the reality of millions of Brazilians, with differentials such as the absence of queues at physical agencies and exemption from some fees and annuities. It is estimated that more than 11 million such accounts were opened by early 2019, according to a survey by the Boston Consulting Group (BCG).
Almost all card and card transactions and procedures must be done through applications available for Android and iPhone (iOS). To help you decide which option is best for each user, the TechTudo prepared a comparison between Nubank and Inter Bank, detailing the individual characteristics of each.
Nubank's 'rival' card has a special function; find it out
Nubank and Inter are digital banking options with free accounts Photo: Reproduction / Gabrielle Ferreira
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Launched in 2017, Nubank was quickly known as the "purple". The bank initially functioned only as an international digital credit card system with no annual fee. However, with its rapid growth, the company created NuConta, which allows free transfers to other banks and agencies, as well as making payments directly to your app.
Nubank has a digital credit card with no annual fee Photo: Divulgao / Nubank
Intermedium Bank, better known as Inter Bank, started in 1994 and in 2014 launched its digital account, becoming one of the first banks to offer online service. Although a pioneer, the institution has only grown considerably in recent years, and today has about 2 million clients, with an average of 8.5 thousand new accounts per day, according to the company. In addition to common resources for most digital accounts, Banco Inter offers its users investment options, such as direct treasury and savings, without charging fees.
Another differential of Banco Inter's digital account is the possibility of integration with the use of Bitcoin, ideal for investors and virtual currency users. Account customers can make unlimited transfers, deposits, withdrawals and payments. The Inter app can be downloaded for free on the TechTudo Downloads page, with versions for Android and iPhone (iOS).
Banco Inter already has over 2 million customers Photo: Divulgao / Banco Inter
To become a Nubank customer at first required a profile review and then the bank would accept or deny orders based on a waitlist. However, after the company reached the 10 million customer mark, the profile analysis system was extinguished. Currently, customers are given account access immediately upon registration. To get credit cards, however, the customer still needs to go through a credit review before being approved. The Nubank app or website allows you to register with your social security number and email to apply for NuConta or the international credit card.
The process for registering at Banco Inter is similar: just access the application and register your personal data, such as ID, e-mail and proof of residence. Then just track the status of account opening within the app itself. The institution also offers the option of becoming a partner client, offering even more advantages to its users. In this option, your deposits are cleared even faster. To do this, you need to make good use of your account and follow some tips, such as knowingly performing transactions, paying your invoices on time, and making salary portability for your Inter account.
To become a Nubank customer, simply apply through the Photo: Reproduction / Barbara Mannara app.
With the "purple" credit card, you can make payments and purchases online, including on international sites. With the digital account membership, the user can also make transfers between several banks quickly and free, in addition to being able to withdraw from the Banco24Horas network. All value added account has automatic income, generating profit over time. In the app, you can still increase or decrease the limit of your card, according to the total amount you want to own. Nubank has its base entirely online, making contact with the bank easier, should the need arise.
Inter digital account offers its customers the possibility to make transfers between banks, deposits in the account through photos of checks and bank slips, plus unlimited withdrawals in the Banks24Horas network, all free of charge, without paying fees. Its differential lies in the possibility of making investments through the account. It is possible to invest in direct treasury, mutual funds, various savings models and private pension, without charging fees. The bank also offers the possibility to perform procedures such as transfers and payments with digital currencies such as Bitcoin. With the app, it is also possible to perform mobile recharges.
Banco Inter offers several investment options to its clients. Photo: Anna Kellen Bull / TechTudo
Nubank does not charge most fees and annuities from traditional banks, either on your digital account or on your credit card system. The gain made by the company is through interest charged on late payments, in addition to a portion of the profit generated by the investments. Of all the value obtained, the user gets 99% of the total value, while Nubank retains the remaining 1%. The only service that charges a withdrawal is through the Banco24Horas network, where the user is discounted in the amount of R $ 6.50, regardless of the amount withdrawn. Transfers and payments are free of charge.
Unlike its direct rival, Banco Inter does not charge any fees or fees for the functions offered by the digital account. Both the most common resources, transfers and withdrawals, as well as their differentials, investments and integration with Bitcoin, are offered for free and unlimited. However, the bank asks clients to use the functions responsibly since the fees are paid by the institution. The digital account also has no annual dues.
Nubank vs Inter Bank
|Fees and Annuities||Nubank||Inter Bank|
|Withdrawal Fee||$ 6.50||Free|
|Revolving Credit Interest||2.75%||7.7%|
As a non-branch bank, Nubank rene all the account and card management options in your app. With an intuitive look and easy navigation, the app allows all options to be found quickly. You can make payments and transfers, modify the invoice due date, lock the card all with a few taps on the screen. On the first page, a timeline with all the input and output information on the account since its creation is displayed, with the ability to access a map of where your purchases were made. There is also a live chat, so that the user can solve any problems with the support team.
The Inter Bank application also has a simple and easy to use interface, with its main shortcuts right on the homepage. In the app, you can access all features offered by the bank, such as payments, transfers, mobile recharge and investments, always in a few taps on the screen. The system also offers a simulator that traces the user's profile to guide him when making account movements. It is possible to protect the software with password or fingerprint, increasing the security of your account. However, the support function via chat is not as accessible.
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