Itaú issues ANNOUNCEMENT informing the end of service in February: “It will not be available”

Itaú is preparing significant changes to one of its essential services from February 2024. Understand what is changing and how it could affect the bank’s customers.

In a surprising turn of events in the Brazilian banking world, Itaú, one of the most prestigious and innovative banks operating in Brazil, issued a statement that had a profound impact on its customers.

The institution, known for its customer-centric approach and for always being at the forefront in terms of financial services, announced the end of a vital service for its customers, effective this February.

This announcement not only marks a significant change in the bank’s policy, but also signals a new phase in the way customers interact with its financial products. Below, we’ll dive into the details and implications of this important decision.

Major change in Itaú services announced for this February. (Credit: @jeanedeoliveirafotografia / pronatec.pro.br).

Itaú announces VERY IMPORTANT END of service

Itaú has always been seen as a bank that values ​​its customers, offering exclusive advantages and benefits.

One of these advantages was the exemption from annual fees on certain credit cards, which became a great attraction for users.

Specifically, this exemption applied to international co-branded cards from Latam Pass and Azul airlines.

In short, customers who spent a minimum of R$1,000 per month on their cards were rewarded with an annual fee waiver, a benefit that helped cement customer loyalty.

Changes valid from February 29th

But the scenario is about to change. The bank announced that, as of February 29, LATAM Pass Itaú Internacional cards will no longer offer the possibility of exemption from annual fees based on expenses.

This means that users of these cards will be subject to a fixed annual fee of R$396, divided into 12 monthly installments of R$33.

This change represents a significant change in the bank’s loyalty strategy and will likely affect how customers perceive and use these cards.

In this context, it is crucial to understand that this change only affects a specific section of the bank’s products.

Cards such as Latam Pass Black and Azul Visa Infinite, which are part of other variants of co-branded cards, will continue to operate under the previous rules, allowing annual fee exemptions based on spending.

Alternatives for customers

For those customers who usually spend a significant amount monthly and are used to the annual fee being waived, there are alternatives. One of them is to consider an upgrade to the Gold version of the Azul and Latam cards.

In short, this version not only maintains the possibility of exemption from the annual fee for expenses above R$2,000, but also offers additional points and improved benefits when traveling with associated airlines.

Customer reaction and the future

As expected, Itaú Unibanco’s announcement generated a series of reactions among its customers.

While some understand the change as a readjustment of strategies in a constantly evolving financial market, others expressed concerns about how it will affect their financial planning and loyalty to the bank.

Therefore, it is essential that Itaú maintains clear and transparent communication with its customers, offering support and guidance during this transition.

Conclusion

This announcement by Itaú marks a significant inflection point in the provision of banking services in Brazil.

While the end of the annual fee exemption on certain cards may be seen as a step backwards by some, it also paves the way for new strategies and approaches in managing financial products.

For Itaú customers, now is the time to evaluate your options, consider available alternatives and adapt to this new banking reality.

Regardless of the changes, Itaú remains committed to innovation and customer satisfaction.

This, therefore, is just a new way to add value to your services and maintain a relationship of trust and transparency with your users.

Read more: Nubank and the release of credit UNBELIEVABLE: R$7,000 before Carnival is a gift

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