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US citizens in the UK · Institutions

Which NS&I accounts accept US citizens

Last checked

NS&I offers a savings account to a US person.

If you already have an account with NS&I, a second one there is usually the easier application, because NS&I has already checked who you are. Each account below carries its verdict, the evidence behind it and the date it was last updated.

At a glance

Account type Verdict Accounts Updated
Savings accounts Accepts US citizens 3

Savings accounts

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Accepts US citizens
Updated

NS&I is backed by HM Treasury, and a UK-resident US person can hold its Direct Saver, Income Bonds and Premium Bonds provided you keep a UK bank account in your own name, because NS&I pays only to a UK account in sterling. Premium Bonds pay prizes rather than interest; the prizes are free of UK tax, but on the conservative reading the US taxes them as gambling winnings. NS&I warns that US gaming and lottery laws may make holding Premium Bonds impossible or impractical once you live in the US. The US taxes the interest on the other two as ordinary income.

HM Treasury backed · online, phone or post

Account Terms The catch
Direct Saver
Access
Easy access
Rate
3.75% AER, variable
Min
£1
Max
£2,000,000
Rate as of
 None material; no-notice access, interest added yearly.
Income Bonds
Access
Easy access
Rate
3.75% AER, variable
Min
£500
Max
£1,000,000
Rate as of
 Interest paid monthly to your bank rather than compounded.
Premium Bonds
Access
Prize draw
Rate
4.35% prize fund rate, variable
Min
£25
Max
£50,000
Rate as of
 Pays prizes, not interest. The prize fund rate sets the size of the monthly draw, not what one holding wins, and the prizes are tax-free in the UK only: on the conservative reading the US taxes them as gambling winnings, with nothing withheld. Are Premium Bonds tax-free for US citizens?

Source: NS&I: saving with us when living abroad, and Premium Bonds, 2026-09-27 NS&I's own page

Account names link to the provider's own site. No link on this page is paid. How Momo makes money. Every institution, A to Z.

Confirm your own position with a cross-border specialist. Acceptance policies and tax rules change, and your facts may differ from the general case. Rates and terms here are the provider's published figures rather than an offer, and the provider decides each application on its own criteria. Use this as a map, not a ruling. Last checked .
Tax

FATCA

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