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Fi Money fees changes
- Thread starter Chaitanya-a
- Start date
Wasn't that free?
Chaitanya-a
TF Prestige
Annual charge is free but ₹200 issuance charge was there which has now increased to ₹300
Chaitanya-a
TF Prestige
That is a violation of
Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022
CHAPTER – V
GENERAL GUIDELINES FOR CREDIT AND DEBIT CARDS
24 (f)
The terms may be altered by the card-issuer, but 30 days’ notice of the change shall be given to the cardholder to enable him/her to withdraw if he/she so chooses. After the notice period of 30 days, the cardholder would be deemed to have accepted the terms if he/she had not withdrawn during the specified period. The change in terms shall be notified to the cardholder through all the communication channels available.
Chaitanya-a
TF Prestige
anonymuos
TF Ace
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.
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.
Vaasu Annan
TF Select
I've been using Fi since Jan 2022. I contacted them on Twitter, and I was told that an annual maintenance charge of ₹199+GST will be charged for the debit card since my account is currently under Standard Plan. It looks like they have changed their stance on not charging existing customers.
Chaitanya-a
TF Prestige
We have valid proof as email they sent. If they do so we can complain it to RBI.
I made it my salary account, I find it awesome.
Free Debit card (enough free withdrawal for my usecase)
I end up getting about 500 Rs of rewards every months through Fi Coins
My only 0% Forex option.
Can't complain.
I work for a startup, so most established banks' salary accounts are not accessible to me. This is a good alternative
Free Debit card (enough free withdrawal for my usecase)
I end up getting about 500 Rs of rewards every months through Fi Coins
My only 0% Forex option.
Can't complain.
I work for a startup, so most established banks' salary accounts are not accessible to me. This is a good alternative
anonymuos
TF Ace
This is what I was told on 28th Feb but things could have changed again. I have asked them again.
Update: Their Twitter support confirmed once again clearly: "Kindly note, there are no annual fees for the Fi physical debit card for existing debit cardholders who have received and activated before 19 Feb 2023. When the current card expires - you will have two options: either to opt for a virtual card, which will be free or to opt for a physical card, which will be chargeable. We hope this clarifies your concern. For any further queries, do feel free to reach out to us. Thanks!"
Last edited:
Vaasu Annan
TF Select
Hey, I told them what you said here, and after checking again they told me that there won't be any charges.
"We appreciated your patience. As checked, with respect to your account, there will be no charges on your debit card. When the current card expires - you will have two options: either to opt for a virtual card, which will be free or to opt for a physical card, which will be chargeable. Hope this helps. Thanks!"
So I am forced to keep it as my salary account if I need the free debit card, hmmm.
Vaasu Annan
TF Select
The "Plus" account offers free debit card.
Fees and charges on Fi Money
All you need to know about the Federal Bank savings account opened through Fi Money, with no hidden charges.
hellobois
TF Legend
What if we upgrade to Plus , take the card for free and close it within 12 months with or without soending 25000 ? sounds good.The "Plus" account offers free debit card.
"Plus: Each user will receive a free VISA Platinum Debit Card. Zero annual card maintenance charges apply if transactions greater than ₹25K are made on the debit card in the previous 12 months. Otherwise, ₹199 will be charged."Fees and charges on Fi Money
All you need to know about the Federal Bank savings account opened through Fi Money, with no hidden charges.fi.money
earlier forex was 0% for basic account also na?
Yes, it was 0%
Haha now they want us to maintain MAB for 0%
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