The first operation is free, and after that the sender must pay $2.99 USD per operation, regardless of the amount transferred.
Nu México is launching the option to receive money from the United States, in association with Felix Pago. „This strategic alliance with Felix Pago simplifies the process of sending money from the United States to Mexico and revolutionizes the landscape of cross-border money transfers, taking advantage of technology to provide a fluid, fast, secure and efficient experience to its customers.” according to the press release.
“Offering the functionality of receiving money in Cuenta Nu, now from the United States and in alliance with Felix Pago, is one more step towards our purpose of financially empowering people in Mexico. Our country has established itself as the second largest recipient of money from abroad worldwide and this new functionality allows us to continue expanding our footprint by offering a simple, easy, secure and fast option. At Nu we are already present in 9 out of 10 municipalities in Mexico, so being able to offer this option and also promote the habit of saving fills us deeply with pride,” commented Iván Canales, general manager of Nu México.
How it works
In the Nu app, customers can effortlessly start the process of receiving money from the United States. They start by generating a money request link within the Nu app, which comes pre-loaded with essential details about the recipient’s Cuenta Nu, the company’s savings account product in Mexico. Then, they conveniently share the link with the sender via WhatsApp. The sender interacts with the Felix chatbot directly within WhatsApp, eliminating the need to download additional applications.
Felix Pago is responsible for sending the money from the US to Mexico. Once the sender completes the operation with Felix, funds will arrive instantly in Mexican pesos through SPEI in the Cuenta Nu. In addition, customers will be able to generate annual returns of 15% when saving their money in “Cajitas” (money boxes).
The announcement comes at a time when Nu México continues to strengthen its presence in the country with the launch of its multi-product platform and following its request to transform its Sofipo license into a Multiple Banking Institution. These strategic steps by the company come after its consolidation as the largest Sofipo in Mexico and one of the best capitalized financial institutions in the country. Nu’s portafolio in Mexico includes credit card, savings account, debit card, personal loans and now the option of being able to receive money from the United States.
Banking 4.0 – „how was the experience for you”
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