If someone in Europe is paying you, the cheapest way to get that money into nsave is to receive it in EUR via SEPA into a dedicated EUR account. This avoids currency conversion and keeps your funds in euros until you need them.
This article explains your options and how to set things up.
The short answer
Open a EUR account and share your EUR IBAN. Ask the sender to pay you in EUR over SEPA.
Opening a EUR account is free if your residential address is in an EU member state (or you're on PRO). It's a one-time $1.99 for everyone else on FREE.
Receiving EUR via SEPA is free.
No conversion — the euros stay as euros.
SEPA is usually cheaper for the sender too — international wire transfers typically cost more, and the sender's bank sets those fees.
Already happy holding USD? You can also receive euros into your USD IBAN — they'll be automatically converted to USD on arrival. More on that below.
USD and EUR accounts share one IBAN
If you have both a USD and a EUR account on nsave, they run on a multicurrency IBAN — your USD and EUR account details show the same IBAN and BIC. They are two balances behind one set of bank details, not two separate accounts with different IBANs.
This matters when someone in Europe is paying you:
EUR sent to your USD IBAN → accepted. The euros are automatically converted to USD and credited to your USD balance.
EUR sent to your EUR IBAN → accepted. The euros stay as euros in your EUR balance (no conversion).
EUR sent to your GBP IBAN → not supported. GBP accounts are separate and cannot receive EUR. The transfer will fail or be returned.
Because USD and EUR share the same IBAN, a sender paying you in euros can use either your USD or EUR account details — the IBAN is identical. What changes is whether the money lands as EUR or gets converted to USD. Choose the account that matches what you want to hold.
Your options for receiving euros
Option A — EUR into a EUR account
Best if you want to hold euros or convert to USD/GBP on your own schedule.
EUR payments inside Europe travel over SEPA, the standard EU payment network.
Incoming SEPA: free
No conversion on arrival — euros stay as euros
Typically arrives in a few hours on business days (SEPA region: EU & UK)
Convert to USD or GBP inside the app any time (24/7, instant)
Usually cheaper for the sender than an international wire — SEPA fees are typically low or free at European banks, whereas wire transfer fees are higher and set by the sender's institution
Option B — EUR into your USD IBAN
Best if you want USD directly and don't need a separate EUR balance.
Share your USD account details (IBAN). Because USD and EUR share the same multicurrency IBAN, the sender's bank will accept the payment. nsave automatically converts the incoming euros to USD and credits your USD balance — no extra steps on your side.
This is a straightforward option if you're paid in euros but want the money in USD. Conversion happens on arrival at the prevailing exchange rate.
Note: if the sender's bank routes this as an international wire rather than SEPA, they may pay higher fees on their side — ask them to send as a SEPA transfer in EUR where possible.
GBP accounts cannot receive EUR
Your GBP account is not part of the USD/EUR multicurrency IBAN. You cannot receive EUR payments into a GBP account. Use your EUR or USD IBAN for incoming euro payments.
Rule of thumb: Want to hold euros? Use your EUR account. Want USD straight away? Your USD IBAN works too. Either way, don't use your GBP IBAN for euro payments.
What about non-euro European currencies (e.g. SEK)?
If a sender holds a non-euro currency like Swedish krona, the simplest route is usually to have them convert to EUR and send via SEPA. A few things to know:
Most European banks, including in non-eurozone SEPA countries (Sweden, Denmark, Norway, etc.), can send EUR over SEPA. Being outside the eurozone does not prevent EUR/SEPA transfers.
SEPA is typically much cheaper for the sender than an international wire — wire fees vary by bank but are usually priced higher than a standard SEPA payment.
nsave does not currently hold balances directly in SEK or other non-EUR European currencies, so EUR is your landing currency for Europe.
How to set it up
1. Open a EUR account
Open the nsave app and go to Accounts.
Tap Add account and select EUR.
Confirm the opening fee (free for EU-resident users, otherwise $1.99 one-time) and tap Open account.
Your EUR account details (IBAN and BIC) will be ready in a few minutes and are then ready to receive.
2. Share the right details
To receive and hold euros: share your EUR IBAN and BIC (from your EUR account in the app).
To receive euros and get USD: share your USD IBAN and BIC (same IBAN as EUR — see above).
Always share the full IBAN. For SEPA EUR transfers, leaving out the full IBAN (e.g. using only the account number plus BIC) will cause the transfer to fail.
Tell the sender to send in EUR and to choose SEPA (not SWIFT/wire) if their bank asks — it's usually the cheaper option on their end.
Do not share your GBP IBAN for euro payments.
3. Receive
Incoming SEPA EUR is free. SEPA transfers in the EU & UK typically arrive in a few hours on business days. International wires can take a few business days.
Quick FAQ
My USD and EUR IBANs look the same — is that a mistake?
No. USD and EUR accounts on nsave share a multicurrency IBAN. You have two balances (USD and EUR) behind one set of bank details. What matters is which account you select in the app when sharing details, and whether you want the incoming euros to stay as EUR or convert to USD.
Can I receive EUR into my USD IBAN?
Yes. The euros will be automatically converted to USD and credited to your USD balance. This is a good option if you want USD directly and don't need a EUR balance.
Can I receive EUR into my GBP IBAN?
No. GBP accounts are separate from the USD/EUR multicurrency IBAN and cannot receive EUR. Use your EUR or USD IBAN instead.
Should my sender use SEPA or a wire transfer?
SEPA, where available. It's the standard way to send euros within Europe and is usually cheaper for the sender — many European banks charge little or nothing for SEPA. International wire fees are set by the sender's bank and are typically higher. Ask them to select SEPA (or a domestic EUR transfer) rather than SWIFT/wire when making the payment.
I want USD in the end — should I use my USD IBAN or open a EUR account?
Both work. Share your USD IBAN and the euros convert to USD on arrival. Or open a EUR account, receive for free via SEPA, and convert to USD inside the app whenever you like. A EUR account gives you more flexibility — you can hold euros and choose when to convert.
Is the EUR account really free for EU users?
Yes. If your residential address on file is in an EU member state, the one-time $1.99 fee is waived automatically and shows as $0 at confirmation. UK and other non-EU residents pay $1.99 unless on PRO.
Is there a minimum balance?
No. You can hold any amount, including zero.
Need help? Reach out to support@nsave.com from the Help section in the app.