Fi Money fees changes

[Chaitanya-a]

So Fi Money has got the required userbase to charge now. As well all know, Nothing is free.
Here is the mail received:




So basic Fi account holder won't get zero forex markup feature. Don't know why he would hold this card then?!

 

[xiddy]

I just opened this account for the 0% forex charges

 

[itachiuchiha]

They say that annual fees on debit card of ordered after 25 feb?....means no annual fees on debit cards issued before?

 

[blacktiger]

what is fi plus or infinite ? i cant find such information online

 

[Chaitanya-a]

If they come up with MAB or something for Fi Plus & Infinite, then till 5k I'm okay but keeping higher amount in that just for zero forex doesn't makes sense.

 

[blacktiger]

If they come up with MAB or something for Fi Plus & Infinite, then till 5k I'm okay but keeping higher amount in that just for zero forex doesn't makes sense.

did u get any details of them? i cant find either. 25k spend in debit card will be easy if card payment is allowed (paytm or kwik)

 

[xiddy]

I think they'll provide option to upgrade it to Fi Plus or Fi Infinite. Till now there is no info about this.
For Fi Plus, there would be zero forex till ₹50k pm. For Infinite, its unlimited.

50K is too low for my use. Luckily Niyo global is working again. I'll close this account.

 

[Chaitanya-a]

50K is too low for my use. Luckily Niyo global is working again. I'll close this account.

Even IDFC WoW is there as an alternate card for zero forex.

 

[prc1990]

They have introduced charges for crypto based transactions as well. Hehe

 

[prc1990]

This is the response I received from them. Maybe we'll get more info about these accounts in next 2-3 days.
View attachment 9751

Takeaway is no charges for the existing customers, isn't it unless they order anything new?

 

[xiddy]

Even IDFC WoW is there as an alternate card for zero forex.

Yeah. But I mostly use these 0% forex cards to withdraw money in other countries at nearly no extra charges. I have saved a lot of money this way

 

[anirban.choudhuryanirban.choudhury is verified member.]

Is this for new customers ?

I didn’t received any such notification , neither there is any alert on my FI app

 

[xiddy]

Is this for new customers ?

I didn’t received any such notification , neither there is any alert on my FI app

I just got the email. So they are probably sending these out in batches.

 

[Rahul Gupta]

50K is too low for my use. Luckily Niyo global is working again. I'll close this account.

If 50k per month international transactions limit is low for you then go for indusind exclusive savings account.

 

[xiddy]

If 50k per month international transactions limit is low for you then go for indusind exclusive savings account.

Does it have 0% forex markup on cash withdrawal?

 

[Chaitanya-a]

Does it have 0% forex markup on cash withdrawal?

Yeah its Signature exclusive DC has zero forex markup. But you have to maintain 1 Lac balance in the account throughout. Otherwise 10% of the shortfall charges is there.

 

[Rahul Gupta]

Does it have 0% forex markup on cash withdrawal?

It has 0% forex on international transactions, not sure about cash withdrawal. You can google about cash withdrawal thing or ask indusind customer care.

 

[Rahul Gupta]

Yeah its Signature exclusive DC has zero forex markup. But you have to maintain 1 Lac balance in the account throughout. Otherwise 10% of the shortfall charges is there.

If someone can spend 50k per month internationally then maintaining 1 lakh shouldn't be a issue for them.

 

[Dexter]

Time to close this account. Their USP was 0 forex markup, now they put condition on it.

 

[Chaitanya-a]

Time to close this account. Their USP was 0 forex markup, now they put condition on it.

We can wait till they introduce Fi plus & Infinite variants. If their eligibility criteria is too much demanding, then will close for sure.