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.
Yes, there is a cool off period and transaction limit that applies after resetting your UPI PIN.
When you reset your UPI PIN, the cool off period of 24 hours will be initiated after your first transaction is made.
During this cool off period, you are allowed to make transactions up to a maximum limit of INR 5,000. Please keep in mind that this limit includes the first transaction you make after resetting your UPI PIN.
The cool off period and transaction limit specifically apply to UPI-related transactions. They are not applicable to bank transfers that use UPI PINs.
This measure is implemented as a security precaution to protect your transactions and funds. It helps prevent unauthorized or fraudulent transactions during the initial period after resetting your UPI PIN.
Please remember that the cool off period and transaction limit are valid for 24 hours from the time of your first transaction after resetting your UPI PIN.