SumUp Bank is the digital account of the company of the same name, one of the main sales machines on the national scene. Due to this characteristic, the bank is directly linked with SumUp’s main product users.
It has many characteristics that are found in other competitors of the same service, but with some particularities that call attention. Check out the SumUp Bank review and find out all about this digital account.
What this article covers:
What is SumUp Bank?
SumUp Bank is an online bank, with digital access via smartphone, made exclusively for those who already have a company machine. In addition, the account is released only for those who are MEI or Individuals, excluding PJ. This is a peculiar feature of the account, which needs to be taken into account when opting for this service.
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For those who already own the SumUp machine, the process to apply for the card is simple and without much bureaucracy. In addition, SumUp Bank’s differential is the minimum withdrawal and transfer fees.
How does SumUp Bank work?
As with most digital accounts, all SumUp Bank services, such as extracts and balance inquiries, work exclusively through the company’s mobile application, available for download for Android and iOS systems, without requiring much of the device’s memory. The account does not support browser access or other online methods. The application, however, is easy to use and very intuitive.
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The SumUp Bank digital account offers services similar to those found in other conventional bank accounts, such as mobile recharge, payment of bank slips and TED transfers🇧🇷
The idea of an account available only to users of the SumUP machine is designed to link the two services. Therefore, the balance of the machine can be moved through SumUP Bank. Card fees are generally low. BRL 5.90 is charged for each withdrawal, an amount lower than that seen in many models of digital accounts. PIX is available and five free TED transfers are available per month.
Is it worth opening a SumUp Bank account?
In order to assess whether or not it is worth opening a SumUp Bank account, it is first necessary to see the characteristics of the interested party, as well as their priorities. Here we separate the main Pros and Cons of this digital account to help you evaluate the product. Check out:
pros
The main positive feature of SumUp is low fees, such as the withdrawal amount, which is R$ 5.90. Virtually all services offered by the account are free, such as payments and TED. In addition, the prepaid card is used in conjunction with the account synchronized with the vending machine to move the sales balance.
cons
The main negative point for SumUp Bank is that it is only available to those who own the company’s ATM, which excludes a large part of the public. In addition, the digital account does not offer a wide range of services, as seen in other competitors. The opening only for MEI or Individuals, excluding PJ, is also a con for SumUp Bank.
How to open an account?
The account opening process is simple and with little bureaucracy. With basic information, such as name and CPF, it is possible to apply for SumUp Bank, even for those who do not yet have a banking service.
The opening can be done directly on the company’s website, as well as through the application. Password creation and account validation are instantaneous and the card is sent to the user within 15 working days, on average. Reinforcing that the service can only be requested by users of the SumUp machine.
