- No monthly fees or minimum balance requirements
- 3.50% Savings APY
- No annual-fee cash-back credit card
- 1.5% cash back on all purchases with no spending cap
- Fee-free international money transfers to select countries
Nu is a global financial technology company that recently entered the U.S. market, offering a high-yield savings account and a cash back credit card. Nu is not a bank, so it’s U.S. banking products are provided through its partnership with Lead Bank, which is an FDIC member.
What Is Nu?
Nu, also known as Nubank, is a Brazilian fintech founded in 2013. Although the company’s headquarters remain in São Paulo, Brazil, it has become one of the world’s largest digital financial services platforms, with more than 130 million customers. Nu launched its U.S. business on September 10, 2026.
What Does It Offer?
As of September 2026, Nu’s product lineup includes a high-yield savings account and a cash-back credit card. Here’s a closer look at each one:
Nu Account
The Nu Account is similar to most online high-yield savings accounts. You can currently earn 3.50% APY, with no monthly fees or minimum balance requirements. In addition, Nu will automatically reimburse any U.S. ATM fees. Here’s a full list of features:
Nu Account Features:
- 3.50% Savings APY
- No monthly maintenance fees
- No minimum deposit requirements
- ATM fees reimbursed in the U.S.
- Spend with a metal Mastercard debit card
- Transfer money to Brazil, Mexico, and Colombia fee-free (no transfer fees, no markup on exchange rate)
- Deposits are protected up to $250,000 per account via Lead Bank, an FDIC member
- 24/7 account access through the Nu app
Coming Soon!
Nu is advertising a savings APY boost of up to 4.50% on balances of up to $10,000; however, it is not yet available.
Nu Credit Card
Nu has launched a solid credit card offer: a no-annual-fee cash-back credit card with 1.5% cash back on all purchases and no spending caps. According to Nu, you can redeem your cash-back rewards instantly, and approval is solely based on your credit score.
Coming Soon!
According to Nu, you will soon be able to earn cash back boosts up to 2% by setting up direct deposits of at least $3,000 every 34 days into your savings account. However, this feature isn’t available yet.
Even at the 1.5% cash back, with no limits or spending caps, it’s a very strong offer for a no-fee credit card.
Are There Any Fees?
As mentioned, the Nu account has no monthly maintenance fees and reimburses ATM fees in the U.S. It also waives the transfer fee on international transfers to Brazil, Mexico, and Colombia, with more countries to be added in the future.
How Does Nu Compare?
Nu’s 3.50% standard savings APY is competitive, but you can find higher rates with some other online savings accounts. For example, Tab Bank’s high-yield savings account currently pays 3.95% APY, and Pibank offers 4.10%. Like Nu, these accounts have no monthly fees or minimum balance requirements.
Where Nu makes things interesting is by combining the savings account with a no-fee credit card that offers unlimited 1.5% cash back on all purchases.
How Do I Open An Account?
Right now, access to Nu is somewhat limited. Nu launched its U.S. products on September 10, 2026, but you can’t just head to its website and open an account. Access is being rolled out to customers. From the homepage, select “Reserve My Spot” and enter your name and email address.
I tested it out and received an email letting me know that I was on the waiting list. However, Nu also gave me a referral link and said I could move up the list faster if I shared it with friends and family. Here’s a screenshot of that email:
Once you receive access, you can open your account online, but be prepared to provide your personal information and complete Nu’s ID verification requirements.
Is It Safe And Secure?
Nu is a fintech company, not a bank. As such, Lead Bank, an FDIC-member institution, provides its U.S. banking services and credit card. This gives customers up to $250,000 in deposit protection per account registration. Nu also uses biometric ID checks, fraud protection, and in-app card locking and unlocking features for added protection.
How Do I Contact Nu?
Nu offers 24/7 customer support through its mobile app. You can also access U.S. customer support by calling 1-888-880-0755 or sending an email to [email protected].
The company lists its U.S. address as follows:
Nu United States LLC
101 West Chapel Hill Street
Suite 300, Durham, NC
27701
Is It Worth It?
Once it’s fully available, I think Nu will be an intriguing option for people in the U.S. looking for a competitive high-yield savings account and a solid no-annual-fee rewards credit card. The savings account on its own isn’t much different than many others, but the combination with the credit card makes for a compelling offer. It becomes even more compelling if you have friends and family in one or more of the countries where Nu is supporting fee-free money transfers.
On the other hand, if your main concern is the highest possible savings rate, you may want to explore other alternatives, including Tab Bank and Pibank. And if you’re looking for an online bank with a broader product offering, consider checking out our list of the best online banks.
