Nubank launches U.S. deposit accounts

Nubank has launched deposit accounts for customers in the United States, expanding the Brazilian fintech’s product offering beyond credit cards and loans.

The accounts are available through Nubank’s U.S. business and can be opened online via the company’s mobile app and web portal. Customers can hold funds with Nubank and use the service alongside its payment and card features.

The offering supports deposits, transfers and everyday cash management, according to Nubank. The company says the accounts are designed for smartphone-based onboarding and a simplified account setup.

Nubank operates a dedicated app and online portal for U.S. customers with account features focused on basic retail banking functions.

Founded in São Paulo in 2013, Nubank expanded from credit cards into personal loans, savings and investment products across Latin America. The company has listed shares on U.S. exchanges.

The launch of deposit accounts in the United States is the latest extension of Nubank’s consumer banking services and provides a pathway for customers to adopt additional products available in the app.

Nubank says it expects the product to appeal to consumers who prefer digital-first interfaces, low fees and straightforward onboarding.