from 30 September 2026, each GBP, EUR or USD IBAN costs $0.99 per month. This fee covers the cost of holding the account open. If you'd rather not pay it, this article walks through every option. In every case, your money stays yours and remains safeguarded until it reaches you.
✅ 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
ℹ️ Note: If you paid the $5.99 IBAN opening fee, the monthly fee doesn't apply to you and you can ignore this article.
The two simplest options (self-serve, in the app)
1. Move your balance to your USD wallet — free
Your nsave USD wallet is free to hold and free to use. We convert your balance to USD at no charge, archive your IBAN automatically, and everything else (card, transfers, invest, @ntag) keeps working. You can request new IBAN details again whenever you like.
⏳ Coming shortly: We're working on making this available directly in the app. We'll notify you as soon as it's ready — keep an eye on your notifications over the next few days.
2. Send your balance out, then let the IBAN be archived automatically
Transfer your money to any external account at our standard transfer fee. Once your IBAN account balance reaches zero, the IBAN is archived automatically and no monthly fee is charged. (If your balance is smaller than the transfer fee, the transfer won't go through — use the free wallet move instead.)
✅ Archiving ≠ closing. An archived IBAN simply means we stop maintaining the account details, so there's nothing to charge for. Your nsave account stays fully open.
Prefer to close the IBAN account instead? Two options
Option A — Close your entire nsave account
If you no longer want any nsave services:
Move all your funds out of nsave first (to an external account of yours).
Use the self-serve account closure flow in the app: Settings → Get Help → Close account.
⚠️ Full account closure is irreversible. Once you close your nsave account, you may not be able to open it again. If your only concern is the IBAN fee, Option B below is more appropriate.
Option B — Keep your nsave account, close only your IBAN
If your IBAN balance is zero: you don't need to do anything. The IBAN is archived automatically and no fee applies.
If you still have a balance, pick one:
Send it to an external account (standard transfer fee) — the IBAN archives once empty.
Move it to your USD wallet (free) — the IBAN archives automatically. We'll notify you shortly once this is available in the app.
Neither works for you? Fill in this short form: IBAN closure request form. On the form you can choose one of two routes:
Donate your remaining balance to a vetted charity. We'll send the funds on your behalf and confirm by email.
Have us hold your balance in a safeguarded account. We'll move your funds to a dedicated safeguarded account and hold them for up to 6 years. If you open a new IBAN with us at any point during that period, email us from your registered address and we'll credit the funds back to you. After 6 years, unclaimed funds are treated in line with applicable law.
What happens after you submit the form: For your security, a form submission alone doesn't move money. We'll email your registered nsave address to confirm it was really you and to confirm your chosen option. Nothing happens until you reply to confirm. We'll then process your request and confirm the outcome by email — in some cases we may resolve your request in another way that leaves you no worse off.