In line with its vision of being the best at banking in a digital world, Carlos Hank González, Chairman of Grupo Financiero Banorte, launches bineo the first 100% digital bank in Mexico.
“The launch of bineo is a great milestone in the history of Grupo Financiero Banorte that will allow us to meet all needs: those who prefer a human-digital combination and those who seek 100% digital banking, with the financial security that has always characterized the institution,” said Carlos Hank González, Chairman of the Board of Grupo Financiero Banorte.
bineo operates with its own multiple banking institution license authorized by the National Banking and Securities Commission (known in Spanish as CNBV), with a favorable opinion of Mexico‘s Central Bank (Banxico), and endorsed by the Mexican Institute for the Protection of Bank Savings (known in Spanish as IPAB), which, unlike other digital options in the market, guarantees the protection of users’ savings up to 400 thousand UDIS (investment units), equivalent to more than 3 million pesos.
In its launch phase, bineo will offer: bineo Account, Total and Light, and bineo Loan. In addition, bineo will provide new products and services based on customer needs. The bineo Total Account allows unlimited deposits, while with the bineo Light Account, users have deposits limited to 3,000 UDIS per month, equivalent to approximately 24,000 MXN.
Additionally, customers will have access to a digital debit card for secure online purchases and an infoless physical card (without printed card number or CVC) made from degradable materials.
The physical card can be used at over 10 thousand Banorte ATMs. On the other hand, customers can request the 100% digital bineo Loan in minutes, without having to go to a branch, and thus have immediate access to their money in a bineo account.
Loan amounts range from $5,000 MXN to $200,000 MXN, with no opening commission, access to competitive rates, and repayments between 6 and 24 months.
In the upcoming phases, bineo will offer a wide range of products to continue facilitating life for its customers, allowing them to move their money as, when, and from where they want, in an easy, fast, and secure manner.