Brazil's Nubank suspends cash withdrawals at Oxxo stores in Mexico

MasterCard

17/03/2026 21:01

SAO PAULO, March 17 (Reuters) - Brazilian digital lender Nubank said it has suspended its cash withdrawal service at Oxxo convenience stores in Mexico.

As of March 16, cash withdrawals at Oxxo stores were no longer available, Nubank said on Tuesday in response to questions about a customer notice.

Nubank said the suspension is part of "ongoing adjustments" to its cash withdrawal network in Mexico.

The bank, controlled by listed parent Nu Holdings NU.N,  said cash deposits at Oxxo stores remain available as usual.

As an alternative, Nubank will temporarily reimburse fees for withdrawals made at Mastercard-enabled ATMs in Mexico.

The reimbursements will be limited to two withdrawals per month, Nubank said.

A spokesperson for FEMSA FEMSAUBD.MX, Oxxo's parent company, confirmed the agreement with Nubank had changed, but referred further questions to the bank.

While Nubank's operations in Brazil are almost fully digital, the lender has pursued different strategies in Mexico, where cash remains one of the most widely used payment methods.

Besides Oxxo, which has more than 24,000 stores in Mexico, Nubank has announced similar partnerships with other retail chains in the country, including grocery store chains Soriana SORIANAB.MX and Chedraui CHDRAUIB.MX.

Nubank, which operates in Brazil, Mexico and Colombia, announced its partnership with Oxxo in Mexico in January 2025.

 (Reporting by Kylie Madry in Mexico City and Andre Romani in Sao Paulo; Editing by Bill Berkrot)

 ((Andre.Romani@thomsonreuters.com; 11 991314109;11 56447500;))