If you're looking for a full breakdown of fees and plans, please also see our nsave Pricing Overview (Personal Accounts) article.
Opening a GBP account
You can open a GBP account directly in the nsave app.
Action | Standard plan | Pro plan |
Open a GBP account | $5.99 one-time (waived for UK residential address) | Free |
Monthly fee to keep IBAN open | $0.99 / month | Free (included in subscription) |
The fee is always shown clearly before you confirm.
🇬🇧 Based in the UK? The $5.99 opening fee is waived automatically based on your residential address on file.
The $0.99 monthly fee still applies on Standard.
✅ On nsave Pro? Both the $5.99 activation and the $0.99 monthly fee are included in your Pro subscription — nothing extra to pay.
✅ Who is excluded from GBP account fees
UK residents— the $5.99 opening fee is waived. The $0.99/month still applies on Standard.
Prior activation fee payers ($5.99 or $1.99)— per IBAN: any user who paid any activation fee for the GBP account is excluded from the $0.99 monthly fee for that specific IBAN. Opening a different IBAN currency is a new activation.
nsave Pro subscribers— both fees are included in your subscription.
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 (opening fee, $0.99 monthly fee) 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.