nsave
nsave, formerly known as Masref, is a fintech company based in London, UK, offering financial services including a membership with a Mastercard, international transfers, and accounts in multiple currencies for individuals in economically unstable regions.
Company Overview
nSave, formerly known as Masref, is a fintech company based in London, England. The team size stands at 10 members. The company is part of the Y-Combinator S22 batch and operates both regionally within the United Kingdom and Europe, as well as remotely. The company specializes in offering financial services, particularly focusing on areas like stable accounts in USD, EUR, and GBP for individuals in countries with unstable banking systems.
Membership and Account Features
nSave offers a membership service for £69/year. This membership includes a trusted account with a Mastercard, available in multiple currencies such as GBP, EUR, and USD. The initial account funding is also part of the package. Members can choose between physical and virtual Mastercard options, which come with fraud protection. Account closure is free of charge.
Fee Structure
nSave applies a variety of fees for its services. Card payments in a currency different from the account's currency incur a 2.50% surcharge on the Mastercard rate. ATM withdrawals cost £2.99, with potential additional provider fees. Replacing a lost or stolen card involves a fee of £27.95. Incoming and outgoing Faster Payments Service (FPS) transfers cost £0.21, while transfers between nSave accounts are free.
International Transfers and Currency Accounts
nSave offers international transfer services and supports safe accounts in USD, EUR, and GBP for individuals in countries facing high inflation and banking instability. This makes it a reliable option for people looking to safeguard their finances in stable currencies. The company provides both physical and virtual Mastercards to meet diverse user needs.
Regulatory Information
nSave is operated by Masref Ltd., a company registered in the UK with the Company number 14337994. The nSave Debit Mastercard is issued by AF Payments Limited, a regulated Electronic Money Institution (EMI) with FCA Firm Registration Number 900440. The general terms and conditions for using nSave services apply from September 15, 2023.
