If I have to send money to someone, do they also have to be a Fi user?
No, the person to whom you are sending money does not have to be on Fi. This means they don't have to have an account on Fi. You can transfer money to anyone in India using Bank Transfer or UPI.
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.