A week after announcing the release of Caixinhas (Money Boxes) to its entire customer base in Brazil, Nubank reached the mark of more than 1.7 million active customers who adopted the financial organization and planning feature. More than 2.25 million Caixinhas have already been created – an increase of about 350% compared to the more than 500 thousand registered until the end of August. The feature was announced in July and gradually made available to all customers.
The quick adoption of Caixinhas comes in a short time after Nubank registered 1 million active customers in the experience of buying, maintaining and selling cryptocurrencies, Nubank Cripto, at the end of July. At the time, the mark was reached in less than three weeks after the release to the complete customer base, composed of more than 62.3 million people.
During the flow of any Caixinha creation, the customer answers a question about the desired time frame to reach a certain objective, such as traveling, buying a house or a car, for example. So far, around 20% of active users have set a timeframe of more than a year, while the majority (32%) work with the medium term, between 3 months and a year. Short-term goals (less than three months) are pursued by 22%, while the rest (26%) did not define an exact time frame.
The most created type of Caixinhas continues to be the Emergency Reserve, pre-suggested within the Nubank app experience, comprising about 58% of the total money boxes. Other personal goals that stand out so far, within the possibility of Caixinhas’ customization, are traveling, remodeling, and career.
More about the Caixinhas
Integrated to the digital account, the Caixinhas aim to give people more autonomy and help them save money in an organized, uncomplicated, personalized way and with possibilities of yield above 100% of the CDI from the first business day after the application. The feature also allows customization with names and photos, linking the act of saving money to personal plans. This was one of the main demands of Nubank users over the last few years on social networks, service channels and on NuCommunity, an online platform dedicated to dialogue with customers.
Currently, customers have two possibilities of investing with yields from the first day of application and on every working day: the RDB, with a yield of 100% of the CDI and the possibility of immediate liquidity (Caixinha Emergency Reserve) or daily liquidity (other Caixinhas), and Nu Reserva Imediata, a fund with a strategy focused on fixed income with daily liquidity and the potential to outperform the CDI rate over time.
From its launch in February until August, Nu Reserva Imediata had a performance of 108% of the CDI, which is equivalent to 167% of savings accounts in the same period. Specifically in August, the profitability of this fund was even more remarkable, yielding 111% of the CDI and 175% of savings accounts.
