High Income-focused Digital Bank Nubank Extends Ultravioleta Client Benefits

Nubank (NYSE:NU), which claims to be one of the world’s largest digital financial services platforms, announces a new curation of exclusive benefits for its Ultravioleta customers.

In addition to the black credit card offering 1% cashback, users will have access to constantly evolving solutions, “focused on simplifying and facilitating users’ financial lives. The new feature is in the testing phase and will be gradually released to the user base in the coming months.”

Livia Chanes, operations leader at Nubank in Brazil, said:

“Focused on the high-income segment, our first step is to evolve and reposition Nubank Ultravioleta, going far beyond the standard benefits of a black credit card. The idea is to offer a curation of solutions to address complex details of financial life that often go unnoticed.”

Nubank Ultravioleta customers will have access “to exclusive solutions and the traditional benefits of the Mastercard Black credit card.”

  • NuTag: Ultravioleta users can save time in toll and parking lines with Nubank’s Tag. Without issuance costs, monthly fees, or the need to recharge, NuTag is charged directly to the credit card, and the entire process is done through the company’s app.
  • Family Space: A place for users to share their Ultravioleta benefits with their family members, share additional cards, and view their children’s financial transactions. This feature will also be gradually released to the customer base.
  • Ultravioleta Customer Service: Users will be served by an exclusive 24-hour team – with priority queues for faster support and end-to-end problem resolution by the same agent.
  • Protection Center: Users will have an area in the app to manage their protection options. These include Modo Rua, automatically activated for transactions above the pre-registered security limit of R$15,000. Each client can customize this value, and all transactions above the pre-established value will only be approved after a facial biometric check.

At no additional cost, Nubank Ultravioleta customers reportedly “have exclusive protection that reimburses up to R$30,000 in unauthorized transactions made during a robbery, theft, or even kidnapping.”

In an emergency, in addition “to Ultravioleta Service, users can contact 24-hour Emergency Support and use Me Roubaram to log out of the account and instantly block the card.”

Other features are as follows:

  • Rappi Prime: Ultravioleta customers will have a free monthly membership to use the service.
  • Exclusive App: The Nubank app will look new for Ultravioleta users. The new experience includes an exclusive area called “My Ultravioleta Benefits,” where users can access all their advantages in one place, including the Protection Center.
  • Unlimited Free Withdrawals: Users will also have unlimited free withdrawals on the 24-hour network.

The new solutions of Nubank Ultravioleta are “in the testing phase and, therefore, are still available to a small group of customers.”

The monthly fee is free for those who “spend more than R$5,000 on the credit function until the closing of the bill and/or have R$50,000 in savings or investments in Nubank and/or NuInvest. In other cases, the monthly fee remains at R$49.”

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