Our partner bank hosts your Savings Account and follows all security standards per applicable regulations.
Your money is always safe with our banking partner - Federal Bank, is covered under the Deposit Insurance and Credit Guarantee Corporation Scheme. This insures your money up to ₹5 lakh.
Fi itself is not a bank and doesn’t hold or claim to have a banking license.
Fi is a money management platform that re-imagines the banking experience in India. The Federal Bank Account offered through our App, is a digital bank account that gives you the fastest way to open a bank account online.
You can do everything from the Fi App, including p2p payments, fund transfers, bill payments, and more, with features to automate every action. You also get a Debit Card, spends insights and tools to grow your investment and earn rewards.
“You can enjoy unlimited access to 0% forex markup on all international payments using your Fi-Federal Debit Card if you are on Infinite, Salary or Prime plan.
For Plus Plan customers- We’ve waived off Forex markup fees for all international Debit Card payments [including ATM withdrawal, except on crypto related payments] up to ₹30,000 per month w.e.f.
For Standard or Regular Plan customers, a 3.5% +GST forex markup fees will be charged on all international payments [including ATM withdrawals]”