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Nubank, the second largest digital bank in the world, planned to start trading its shares on the New York Stock Exchange (NYSE) in December 2021. In Brazil, the BRD, a certificate representing these shares, can be traded on the São Paulo Stock Exchange. Brazil (B3). This allows people to become partners or shareholders in the company, buying shares in the company.

This is official! Nubank announced that it will make an initial public offering and offer BDR on the Brazilian Stock Exchange. But not only that.

Fintech also wants to do something unprecedented: allow millions of customers to become its partners without having to pay any price for it.

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In short, this is the NuSócios project, which was launched on November 9, 2021. But is it worth becoming a Nubank partner in this model? So, to understand the pros and cons of becoming a Nubank partner, review the following.

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How will it work?

Initially, before the shares are traded on the New York Stock Exchange, Nubank will offer several clients of the institution itself the possibility of owning a “small portion” of the BDRs, which can be traded on the B3 one year after obtaining them. So far, BDR representatives will represent 1/6 of the common shares of Nu Holding, the group's leading company. According to the agency, there will be no charge of fees. However, the benefit will have a maximum availability limit and, if this limit is reached, the program will be terminated.

However, customers selected as “Apt” will receive an in-app invitation to become a Nubank member.

Criteria to become a Nubank partner

However, to be part of the plan, a person must follow certain standards. Be them:

  • First, as an individual;
  • Become a Nu Payments customer;
  • Open accounts frequently based on intuition when making transactions;
  • Default on the credit card or loan must not exceed 8 days; Or break the contract 30 days before the BDR membership plan;
  • In addition, customers must execute or receive any transactions on any Nubank product.
  • Finally, the “Nubank bit” must be accepted by the application itself when it is available.

What are the advantages and disadvantages of becoming a Nubank partner?

In this way, overall, Nubank will enable millions of customers to own a small piece of financial technology. Nubank's “small block” is actually something called a BDR, that is, a certificate that allows you to trade a certain percentage of Nubank's shares on the Brazilian Stock Exchange (B3) in 1 year. Therefore, each share will represent 1/6 of the A common shares of Nu Holdings, leader of the Nubank Group. This amount will be confirmed at the end of the IPO. According to Nubank, “In the first 12 months after going public, fintech will take care of a small part of you, while you familiarize yourself with the investment world so that you can make the best decision on how to deal with it in the future. ”.

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But is it worth becoming a “Nubank partner”?

Well, according to the experts, the main advantage of this product is to reduce bureaucracy. This is because investors can bet on international assets without opening an account abroad. In addition, it is a way to diversify your investment portfolio to include foreign currency assets.

Among the shortcomings, one that has drawn attention is that the holder of the BDR is not a partner in the company. This is because, upon receiving the BDR, the investor is not considered a partner and does not have all the rights that a shareholder should have, such as voting rights. Another problem is that the product is not subject to the tax exemption rule with monthly sales not exceeding 20.000 reais, that is, future “Nubank partners” of BDR must submit an income tax return.

Who can get a piece of Nubank for free?

Not all Nubank customers will receive the BDR for free. When the maximum distributed BDR limit is reached, the benefit will no longer be granted. To join NuSócios, you must:

Become an individual Nu Payments customer two days before the end of the membership period;

Unlock a Nubank account opened for the transaction;

Maintain a Nubank credit card and/or loan for more than eight calendar days;

At least one transaction was executed or received for any Nubank product within 30 days prior to joining;

Enroll in the app within the specified time.

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How to join NuSocios?

In the bank's app, instructions will only be provided to customers who meet the criteria to become a Nubank member. When the benefits run out, this option will no longer be available. To join NuSócios, this person must follow these steps:

When opening the bank application, on the first screen, the person should see the message “Have you ever thought about becoming a Nubank member?” And click on the “Learn more” option.

Watch a video explaining the NuSócios plan.

Read the Nubank IPO terms and conditions and the fintech prospectus, especially the risk factors section.

If you accept the conditions, click on “I want to participate in NuSócios”.

Enter the four-digit password.

After that, just wait for the public offering and the issuance of Nubank shares. At the same time, it is possible to view educational content about the Fintech plan and IPO, which debuts on December 9th.

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