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.
Some reasons this could be happening are:
If your account was created on or after 15th of July 2023
Alternatively, there could be some technical issues causing delay or failure of money transfer.
Every 24 hours, we reconcile all the transfers. This means we will either make sure the money gets deposited in your Savings Account through Fi or refund it to your source account in case of an unsuccessful transfer.