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FI ACCOUNT.........BECOMES USELESS WITH NEW CHARGES.....

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Batmanbaba

Batmanbaba

TF Legend
We are changing some of the fees associated with your Fi Federal savings account. These revisions will come into effect on 26th February 2023.

Here are the big details:​

  1. You can choose from these four categories of accounts:
    1. Fi account
    2. Fi Plus account
    3. Infinite account
    4. Salary account
The fees associated with your account will depend on the kind of account you have. To begin with, yours will be a Salary account.

The table below should give you an overview of the fee changes.
Debit Card Fees
FeesFiFi PlusSalary/Infinite
Virtual debit cardFree

New physical debit card
if ordered after 25th February 2023		₹199FreeFree

Physical card replacement
if ordered after 25th February 2023		₹199₹199₹199

Physical debit card annual fees
if ordered after 25th February 2023		₹199Free1
Free

Forex markup
on non-crypto transactions		2.5%0%2
0%

Forex markup
on crypto transactions		2.5%

International ATM withdrawals₹200 for withdrawal
₹100 for non-financial transactions like mini statements

Domestic ATM transaction decline fee due to insufficient fundsNo charges at any Federal Bank ATM
₹25 per instance at any other ATM

International ATM transaction decline fee due to insufficient funds₹100 per instance at any ATM

Purchase transaction decline fee due to insufficient fundsNo charges for the first 2 transaction declines
in a month. ₹25 per decline post that.
Other Fees
FeesFiFi PlusSalary/Infinite
Chequebook₹100
for ordering a chequebook with 10 leaves		Free3
₹100 for the next
chequebook with 10 leaves
  1. Zero maintenance charges if debit card transactions are more than ₹25K in the preceding 12 months. Otherwise, ₹199 will be charged.
  2. We've waived off international transaction charges for all transactions up to ₹50K per month, 2.5% thereafter. 2.5% markup will be charged on all transactions at first. It will be reversed for eligible transactions within 30 days.
  3. Your first chequebook with 10 leaves is on us.

Additional GST & other applicable taxes will be applicable on all the above-mentioned fees.
Everything else remains the same. You can check out details of our transparent fee structure here.
 
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anonymuos said:
Talked to Fi money customer care just now about yesterday's email that they sent. They said existing Fi debit card customers will have no charges until the card expires (in 2027 or whenever your card expiration date is). Thereafter for new replacement physical card issued, issuance + annual charges will be applicable (if you want to use it for POS/physically swipe it or for contactless NFC payments). You can choose to not get a physical card. Virtual Fi debit card in the app will continue to be free for e-commerce transactions. (Now I am not sure if they ever used the term "lifetime free" on their website initially, maybe the plan was to make it paid after initial customer onboarding).

As for 0% forex charges which was the standout feature, only Fi Plus and above tiers will have that. They said they are yet to announce anything about who qualifies for Fi Plus. That will be communicated in a further email before 26th Feb 2023.

Btw admin/mods of Technofino, another discussion about same topic here: https://www.technofino.in/community/threads/fi-money-fees-changes.7298/ maybe you could merge.
Click to expand...
Thanks 🙏 for the information I was trying to connect with Fi customer service via call and they are purposely cutting my calls 3-4 times also they are putting me on hold and 1 representative told me that we do not know about it yet and we have to wait more for next email also I tried to use the chat feature but no representative ia available, if NEO banking has this kind of customer service I am 😨 scared to open any further Neo accounts also I will consider closing the account if they imply charges unnecessarily as when they launched they said everything was free which is why most users opened the account with them.
 
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wasikakram said:
Thanks 🙏 for the information I was trying to connect with Fi customer service via call and they are purposely cutting my calls 3-4 times also they are putting me on hold and 1 representative told me that we do not know about it yet and we have to wait more for next email also I tried to use the chat feature but no representative ia available, if NEO banking has this kind of customer service I am 😨 scared to open any further Neo accounts also I will consider closing the account if they imply charges unnecessarily as when they launched they said everything was free which is why most users opened the account with them.
Click to expand...
Neo banking has worst customer service. Talked with Niyo & Fi agents. Very slow replies and ignorant.
 
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ashwink said:
Anybody already closed 😜
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Close Jupiter account as it's virtual debit card is chargeable where Fi old debit card is free until it's expiry date and after that you can continue with free virtual debit card. Federal Bank has debit card details of Fi and It shows in Fed Mobile or internet banking. But you can't even login to fed mobile or internet banking with Jupiter debit card details as Federal Bank has no details of Jupiter debit card.
 
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