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
The following users are not charged the $5.99 activation fee or the $0.99 monthly fee:
GCC residents— for their USD account
EU residents— for their EUR account
UK residents— for their GBP account
Prior activation fee payers ($5.99 or $1.99)— per IBAN: the activation fee exempts you from the $0.99 monthly fee for that specific IBAN only. If you open a different IBAN currency, the $5.99 activation and $0.99/month apply to that new IBAN
nsave Pro subscribers— included in your subscription
Step 1: Move your money out
An account with money in it can't be closed — you'll see "Move any remaining balances before closing this account." Pick whichever of these suits you.
Your USD wallet
Simplest place to park it. Converting from GBP or EUR is free until 30 September 2026; after that the standard conversion fee applies (1% on Standard, 0.5% on Pro). If your balance is already in USD, there's no conversion at all.
⏳ Coming shortly: We're working on making this available directly in the app and will notify you as soon as it's ready.
What the USD wallet is
Your USD wallet is your USD Account — free on our pricing page. It holds US dollars, earns rewards, and you can request free ACH details for it on both plans. There's no IBAN behind it, so the wallet itself carries no $0.99 fee. A USD wire IBAN is separate and does carry the $5.99 activation and $0.99 monthly fee.
Somewhere else
None of these fees are changing on 30 September.
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 Standard / $9.99 Pro |
If your balance is smaller than the transfer fee, the transfer won't go through.
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. An empty IBAN is still an IBAN we're paying to keep open.
What exchange rate do I get?
Our standard rate with the conversion fee waived, until 30 September. Normally 1% on Standard, 0.5% on Pro.
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 Standard (then $0.99/month). Free on Pro.
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?
No. The activation fee and the monthly fee are both included with Pro.
Should I upgrade to Pro to avoid the fee?
Only if you want Pro for its own sake. Pro is $9.99 a month, so upgrading purely to avoid $0.99 costs you more.