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.
While our partner bank offers forex refunds on eligible international transactions based on the user's account plan, DCC (Dynamic Currency Conversion) transactions are an exception. With DCC, the merchant/ point of sale already applies the conversion from foreign currency to INR, removing the transaction from Federal Bank’s direct forex exchange processing. Due to this, neither Fi nor Federal Bank controls the forex rate applied to DCC transactions, making them ineligible for refunds.