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 complete your Re-KYC quickly and easily by following the steps below:
You can complete your Re-KYC through SMS or Aadhaar authentication on the Fi app, depending on whether your details have changed.
Via SMS: If your name, date of birth, or address have not changed, you can complete your Re-KYC by sending "KYC Y" to 9008915353 from your registered mobile number. Your KYC status will be updated within 48 hours. If it doesn't get updated within that time, you can proceed with the Aadhaar-based KYC method.
Via Aadhaar Authentication: If your details have not changed, you can update your Re-KYC via Aadhaar.To complete the Re-KYC process via Aadhaar authentication on the Fi app, users should first open the app and click on the KYC banner displayed on the home screen. Next, they will select the option for "KYC Update Via Aadhaar" and enter their Aadhaar number. Upon submission, an OTP (One-Time Password) will be sent to the mobile number registered with their Aadhaar. Users must then enter this OTP to verify their identity. Once the verification is successful, the KYC update will be initiated, and users can expect the process to be completed within 3 business days. It is important to ensure that the Aadhaar details are correct and that the mobile number is linked to facilitate seamless verification.
Visit Your Nearest Branch if Your Details Have Changed"
If there are any changes in your profile details, such as Name, Date of Birth, or Address, you need to visit the nearest Federal Bank branch to complete the Re-KYC process. As per the circular “FINT/CC PL SB/FAQ/2024-25” issued by the Federal Fintech Team on 22-08-2024, you are advised to visit the branch with the necessary documents for updating your KYC details. While visiting, please carry your Aadhaar, PAN, and a passport-sized photograph. The bank will assist you in completing the Re-KYC update with the new information during the visit.
Important Notes:
If your account is frozen, it will be unfrozen within 7-8 working days once KYC is updated.
Ensure you're using your registered mobile number for SMS or Aadhaar authentication.