If you're looking for a full breakdown of fees and plans, see our nsave Pricing Overview (Personal Accounts) article.
Opening a GBP account
You can open a GBP account directly in the nsave app.
Action | Essential | Pro | Prestige |
Open a GBP account | $5.99 one-time (waived for UK residents) | $5.99 one-time | ✅ Free |
Monthly fee to keep IBAN open | $0.99 / month | $0.99 / month | ✅ Free (included) |
🇬🇧 Based in the UK? The $5.99 opening fee is waived automatically. The $0.99 monthly fee still applies on Essential and Pro. On Prestige, both fees are fully included.
✅ Who is excluded from GBP account fees
UK residents — the $5.99 opening fee is waived. The $0.99/month still applies on Essential and Pro.
Prior activation fee payers ($5.99 or $1.99) — any user who paid an activation fee for the GBP account before the monthly IBAN fee was announced is excluded from the $0.99 monthly fee for that specific IBAN. Users who open a new IBAN after the announcement pay both the $5.99 activation fee and $0.99/month starting the following month.
nsave Prestige subscribers — both the activation fee and the monthly fee are fully included. On Pro, the GBP IBAN carries the standard $0.99/month fee.
What you can do with a GBP account
✅ Receive GBP
You can receive GBP into your nsave GBP account via UK Faster Payments (FPS) — from UK-based GBP accounts, usually instant, and free to receive.
⚠️ Important: You can only receive GBP into your GBP account. If another currency is sent to your GBP IBAN, it will be reversed to the sender.
✅ Exchange GBP ↔ USD or EUR
You can exchange between your GBP and USD or EUR accounts in the app. Exchange rates and fees are shown live before you confirm. Exchanges are available 24/7 — any day, any time, any amount, with no minimum.
✅ Send GBP to third parties
You can send GBP to other individuals using your GBP balance, subject to destination and compliance rules.
✅ Pay out locally from GBP
Local payouts can be funded directly from your GBP balance, alongside USD and EUR — no need to convert first. When you initiate a local payout (e.g. PKR, NGN, EGP, AED, MAD, TRY, BDT), you can choose to fund it from your USD, EUR, or GBP account. The app shows the live exchange rate and fees before you confirm.
What you can't do with a GBP account
❌ Receive non-GBP currencies
Your GBP account can only receive GBP. USD, EUR, or other currencies sent to your GBP IBAN will fail. Always ask senders to send GBP only.
⚠️ Business payments (including Stripe payouts) are not supported on personal accounts and will be rejected. If you have a registered business entity (LLC, Ltd, etc.), explore our Business Account options.
Important note for customers in Nigeria 🇳🇬
To remain compliant with banking regulations, if you are based in Nigeria, you cannot receive GBP from third-party accounts (accounts not in your name).
What's not affected:
✅ You can still send GBP to others
✅ You can still receive GBP from accounts in your own name
✅ USD transfers, ACH, investments, and other features continue to work
✅ Outbound transfers remain available
Pricing transparency
All fees are shown before you confirm
Exchange rates and payout fees are displayed in-app
No hidden charges
Need help?
If you're unsure whether a GBP account fits your needs or have questions about a specific transfer, contact support directly from the app.