How to change Fi account to regular Federal Bank account?

[rusty17]

Does anyone know about the process of switching from a Fi savings account to a regular federal bank account. I have some concerns about the stability and security of neo banks, especially after hearing some rumors that rbi might crack down on them.

I also think that having a direct relationship with the bank might give me some advantages in terms of getting loans or credit cards in the future. I have noticed that the bank's mobile app works fine with the account I created through Fi, and it seems like a normal account except for the branch name that says Neobanking. Does anyone have any experience or advice on how to do this conversion?

 

[D₹V]

@S S V @4uziaul

 

[Shubham Yadav]

Does anyone know about the process of switching from a Fi savings account to a regular federal bank account. I have some concerns about the stability and security of neo banks, especially after hearing some rumors that rbi might crack down on them.

I also think that having a direct relationship with the bank might give me some advantages in terms of getting loans or credit cards in the future. I have noticed that the bank's mobile app works fine with the account I created through Fi, and it seems like a normal account except for the branch name that says Neobanking. Does anyone have any experience or advice on how to do this conversion?

Its quite simple

Talk to Bank directly

 

[rusty17]

Its quite simple

Talk to Bank directly

Contacted them via email.

Their reply is to contact a nearby branch. smh.

Apparently one cannot open more than one account via videokyc. Don't know why they can't just convert my account type. I'll see if I can visit a branch sometime.

 

[satish0987]

Contacted them via email.

Their reply is to contact a nearby branch. smh.

Apparently one cannot open more than one account via videokyc. Don't know why they can't just convert my account type. I'll see if I can visit a branch sometime.

Update here bro whatever happens in branch

 

[AritraSaha]

Does anyone know about the process of switching from a Fi savings account to a regular federal bank account. I have some concerns about the stability and security of neo banks, especially after hearing some rumors that rbi might crack down on them.

I also think that having a direct relationship with the bank might give me some advantages in terms of getting loans or credit cards in the future. I have noticed that the bank's mobile app works fine with the account I created through Fi, and it seems like a normal account except for the branch name that says Neobanking. Does anyone have any experience or advice on how to do this conversion?

You might have to open a new account.
You can try opening it online.
Their selfie account is zero balance.

 

[rusty17]

You might have to open a new account.
You can try opening it online.
Their selfie account is zero balance.

I think I will have to close the Fi account first before opening new account with federal. According to their customer care rep a customer cannot open more than one account via videokyc.

 

[AritraSaha]

I think I will have to close the Fi account first before opening new account with federal. According to their customer care rep a customer cannot open more than one account via videokyc.

Try on the website if it's says can't open they try via branch..

 

[Deleted member 11974]

Does anyone know about the process of switching from a Fi savings account to a regular federal bank account. I have some concerns about the stability and security of neo banks, especially after hearing some rumors that rbi might crack down on them.

I also think that having a direct relationship with the bank might give me some advantages in terms of getting loans or credit cards in the future. I have noticed that the bank's mobile app works fine with the account I created through Fi, and it seems like a normal account except for the branch name that says Neobanking. Does anyone have any experience or advice on how to do this conversion?

usually conversion like this doesnt happen as neobanks have a different ifsc code and much more
i guess you would have to close this itself

 

[vinimay]

Does anyone know about the process of switching from a Fi savings account to a regular federal bank account. I have some concerns about the stability and security of neo banks, especially after hearing some rumors that rbi might crack down on them.

I also think that having a direct relationship with the bank might give me some advantages in terms of getting loans or credit cards in the future. I have noticed that the bank's mobile app works fine with the account I created through Fi, and it seems like a normal account except for the branch name that says Neobanking. Does anyone have any experience or advice on how to do this conversion?

You don't have to convert.
Every user already have a Federal account and Fi is more of interface wrapper.
Explore the forgot User ID and forgot password method to login to Fednet. (By account number + mobile method)
Having said that, don't worry. Your money is already in regular Federal bank.
Continue with Fi only 🙂