If you don't want to keep paying $0.99 a month for an IBAN, there are two steps: move your money out, then close the IBAN. The second step is the one that stops the fee.
⚠️ Emptying an IBAN does not stop the fee. The $0.99 is charged for every IBAN you hold, whether or not there is money in it, and we take it from your USD balance. So moving your money to your USD wallet and leaving the IBAN open means you keep being charged — out of the wallet. Closing the IBAN is what stops the charge.
✅ Who is excluded from these fees
GCC residents — for their USD account
EU residents — for their EUR account
UK residents — for their GBP account
Pakistani nationals who are not residents of Pakistan — both the activation fee and the monthly fee on a USD IBAN are waived, on any plan.
Prior activation fee payers ($5.99 or $1.99) — per IBAN: if you paid an activation fee before the monthly IBAN fee was announced, you are exempt from the $0.99 monthly fee for that specific IBAN only. Users who open a new IBAN after the announcement pay both the $5.99 activation and $0.99/month starting the following month.
nsave Pro subscribers — EUR and USD wire IBAN fees are included. GBP wire IBAN carries the standard $0.99/month fee on Pro.
nsave Prestige subscribers — all three wire IBANs (EUR, USD, and GBP) are fully included.
Step 1: Move your money out
An account with money in it can't be closed. Pick whichever of these suits you.
Your USD wallet
Simplest place to park it. If your balance is already in USD, there's no conversion at all. Converting from GBP or EUR incurs the standard conversion fee (1% on Essential, 0.5% on Pro and Prestige).
Somewhere else
Sending | Fee |
Withdraw to local currency | Varies by destination — shown in the app before you confirm |
To another nsave user by @ntag | Free |
GBP by Faster Payments | $1 |
EUR by SEPA | $1 |
USD by ACH | $0.50 |
USD by SWIFT | $12.99 |
Step 2: Close the IBAN
This is the part that stops the $0.99. You can do it yourself in the app.
On the Home screen, tap the currency account you want to close — your EUR, GBP or USD account.
Tap Account details.
If it's your USD account, switch to the SWIFT (International) tab first. Your free ACH (USA) details aren't affected.
Tap the ⋯ menu at the top right and choose Close account. In the run-up to a charge, the same option also appears at the bottom of the screen.
Confirm. You'll see "Account closure requested" and the wire details disappear once it's processed.
🔁 Repeat for every currency you don't plan to use. The fee is charged per IBAN, so closing your EUR account doesn't close your GBP or USD one. Each currency has to be closed separately.
⚠️ Once the IBAN is closed, payments sent to it bounce back to the sender. If you're expecting a salary, invoice or standing order, give the payer new details first, or keep the IBAN and pay the $0.99.
For every option — including what to do if you can't move your balance out — read the full closure guide.
Common questions
Will I lose my money?
No. Moving to your USD wallet moves your balance, it doesn't spend it.
I moved everything to my USD wallet. Am I done?
No. The IBAN is still open, so the $0.99 is still charged for it — taken from that wallet balance. Close the IBAN to stop it.
My EUR account is empty. Will I still be charged?
Yes, as long as the EUR IBAN is open and you have a balance anywhere we can take the fee from.
I only receive USD by ACH. Does this affect me?
No. USD ACH details are free with no monthly fee. This only applies if you also hold a USD wire IBAN.
Can I get my IBAN back later?
Yes, but it's a new IBAN with new details. $5.99 activation on Essential, then $0.99/month from the following month. Free on Pro (EUR & USD) and Prestige (all three).
Does closing an IBAN close my nsave account?
No. Your account, card, @ntag and invest account stay open.
I'm on Pro. Does this affect me?
The activation fee and the monthly fee are included on Pro for EUR and USD wire IBANs. Your GBP wire IBAN still carries the standard $0.99/month on Pro. On Prestige, all three are fully included.
Should I upgrade to avoid the fee?
Only if you want the plan for its own benefits. See nsave subscription plans for a full comparison.