Have a Bank account ready to receive payroll or savings, it is a necessity, in this space emphasis has been placed on the urgency of having instruments that provide returns when seeking to make a saving, since an account by itself does not generate an increase in principal. Currently there are options not so distant to the traditional bankingbut which are hardly taken into account due to their short stay in the financial marketas are the neobanks.
These kinds of institutions are digital banks or institutions of financial technology that offer products similar to traditional banking, but without having to go to a branch, since all the operations of this type of organization are carried out online.
Another of the advantages that they have over traditional products are the yields, for example, Neobanks, Wildebeest and oulahave rates of return on their basic accounts of 9%, an amount higher than any mechanism offered by a banking institution.
The Nu firm ensures that with the opening of the organization’s debit account, a fixed annual rate of performance of 9% on the capital that is entered, thus the calculation is made daily, “on the money that you have in your Cajita”.
Likewise, the company of Argentine origin, Ualá, indicated that it has a “remunerated deposit” product which generates yields of 8% per year, “the settlement of interest will be made on the balance you have at the end of each day, applying the corresponding rate. The payment of the accumulated yields in each month will be reflected on the first calendar day of the following month.
In both cases, the performance of these accounts is above the inflationwhich is beneficial for savings accounts, by guaranteeing that the money does not lose its value over the months.
Do only neobanks have these rates?
There are institutional products traditional banking that have rates of return, such as Santander with the “Growing Money” product, although this is a subsection of the traditional account, it is possible to allocate an amount to this item.
“Growing Money is an intelligent tool where your resources are protected 24 hours a day. Additionally, you will get daily returns while you save your money,” he said. Santander on your portal.
In this sense, he exemplified that the return will depend on the amount of money placed in this subsection, but the annual interest rate will only reach 1.20%. Amount less than that offered by the neobanks.
For their part, BBVA and Citibanamex have investment products, but their accounts by themselves lack returns, in fact, in both cases, depending on the opening account, it will be the handling cost that the institution will request. Of course, each one has different scenarios to avoid charges, but the return objective for placing the money in their products is not in force.
Should I trust Neobanks?
All institutions that operate in Mexico offering financial services must be registered and authorized by the National Baking and Stock Commission (CNBV), hence if an organization appears with rates higher than those mentioned in this note or with promises of yields or loans above the market, it is better to consult the list of institutions endorsed by the organization and thus avoid falling into frauds.