do you want to know What is Fi Money App? How does it work? And what are its advantages & disadvantages? So this blog post is just for you, after reading this you will get the answer to all your questions easily.

Are you looking for FI Money Review? Fi Money App Online banking is a platform that not only helps you save money but also helps you grow and manage your funds. Currently, facilities by FI are available to working professionals and people working on a specific salary.

financial app Includes built-in savings account with zero balance savings option. In addition, Auto-Bot allows the user to create specific rules, which can also be modified to automate the processes for saving, paying, and reminding.

Also, in partnership with Federal Bank, Fi Money follows all safety standards as per RBI regulations, and sums up to ₹5 lakh/money are insured. From the many features offered by the platform to the fee structure and method of signing up, saving your money in a smart online bank account requires a number of steps.

This is a thorough summary, read more and get a good understanding of what Fi has to offer and how it can help you save money.

Fi is a recently established company that provides a wide range of services, including p2p payments for fund transfers and bill payments.

Fi is like a personnel assistant which provides many features making banking hassle free. The ability to withdraw money from any ATM, clarity in fees and a user-friendly dashboard make Fi one of the best online baking platforms.

Apart from this, there are also cash-backs and rewards that can be redeemed at select outlets. Moreover, users can save up to 5.1% interest with flexible and smart deposit options. Plus, personal insights allow you to make better money decisions and more.

Fi strives to maintain high standards of privacy, safety and security when using money or data. The data collected enables Fi to create a superior user experience that provides a secure, fast and convenient experience on the platform. Apart from personalizing and enhancing the user experience, the platform also uses data to prevent any misuse.

Features of FI Money Bank

Insights

For a better understanding of online spending, the insights provided by Fi let the user make smart decisions especially on e-commerce and food delivery websites.

Insights will reveal how many times a user has purchased individual items from e-commerce platforms such as Amazon or how much a user has spent on ordering food over a specific time period. The main purpose of this feature is to analyze and display transaction information to the user in an interesting and understandable manner.

banking

Fi not only provides all the services offered by regular banks but also continuously strives to enhance it. The online banking platform uses state-of-the-art technology which plays a major role in conducting profitable data science research.

With the benefit of no physical branch or tedious and lengthy paperwork, Fi’s attractive and easy-to-use interface design provides a never-before-seen banking experience.

Prize

Reward structure is an effective way to build a good saving habit. Earn rewards while saving money with Fi in the form of cashback or Fi coins that can be redeemed at major selected outlets including Starbucks, Nike and BigBasket.

Platform

Since Fi is still in the new stage, apart from a soft launch, the platform is still going through a few changes to the past, doing several experiments to refine all the features, making them perfect before successfully launching a full release. . In addition, users can take advantage of the Early Access feature and join groups as they release. Currently, Fi is available on Android.

How to Sign Up for Early Access with FI Money

  • Type your full name in the box and click Continue
  • Type mobile number and click on “verify with OTP”. User can also opt for WhatsApp update by clicking on the tick box to get a quick way to stay in touch with progress and updates
  • How to Verify Mobile Number for Fi Money
  • OTP will be sent in a message to the mentioned mobile number. Open the message and enter OTP here
  • After verifying your mobile number, it’s time to add email id. This will allow the user to stay informed about the latest updates offered by Fi
  • Finally, the early access process is complete. The app can now be downloaded on the mobile to access the opened savings account. This page will also provide Fi.nite codes to help you sign up with your phone.
  • Open the app and click on “Sign-in”. Then type the registered mobile number used while creating the online account. Another OTP will be sent to your mobile to confirm the authenticity
  • After logging in, there is an option to use the biometric authentication facility (fingerprint) to further protect your funds in the savings account. Also, for double security, the user will have to set a PIN, pattern or password before saving their fingerprint.
  • Remember, if the user forgets the PIN, after resetting it, the data will be erased to ensure maximum security and reduce the risk of fraud
  • Follow the next few steps, type legal name, email id. And finally, the mobile app will automatically verify the above mentioned “Fi.nite” code

complete kyc

  • Click on Agree after reading Fi’s Terms and Conditions. And the app will take the user to the quick KYC process. Type your PAN card details and date of birth. Note: If the user does not have a PAN card, they will not be able to open an account with fi
  • After typing the PAN number the app will ask for the father’s and mother’s full name
  • Finally, use the Aadhaar details to complete the process. The user can further upgrade the account by doing a quick 3 minute video call for KYC to avail additional features. Money and Fee Structure As per RBI guidelines, savings accounts created through Aadhaar OTP cannot include deposits of more than Rs 1 lakh. Removal of the 1 lakh limit requires a 3 minute video call with an agent of Federal Bank on the Fi mobile app.

Fi Federal Account Fee

Fi is changing the standard banking infrastructure by waiving off the traditional fees charged by traditional banks. Zero account maintenance charges, no hidden fees and no minimum balance charges make Fi one of the best banking platforms out there. However, it is generally advised to deposit at least ₹20,000 every month for savings or transaction purposes to enjoy the special features of Fi. Plus, all users opening a Fi Savings account are given a free Visa Platinum Debit Card, with a 0 issuance fee.

In addition to the facilities for domestic transactions, Fi also waives charges on international transactions. Plus, the debit card provided by Fi can be used anywhere Visa is accepted. When withdrawing from an international ATM, a small fee of ₹100 is levied on the transaction, and ₹25 is charged for non-financial transactions such as obtaining a mini statement.

It is free to use ATMs in India to withdraw from Federal Bank ATMs, and in other ATMs, about 5 withdrawals are free, and 20 is charged with the 6th and the following transactions done within a month . Losing your Visa Debit Card costs a very small amount of ₹250.

Advantages and Disadvantages of FI.Money

Advantages of FI.Money

  • No need to stand in long bank lines or go through tedious paperwork
  • A new debit card is issued free of cost in case the user loses his/her first debit card
  • Get two check books with five check leaves at your door step free of cost every six months
  • Doorstep delivery of Proof of Fund documents in just ₹100

Disadvantages of FI.Money App

  • iOS app to be released soon
  • The mobile app is currently available on the platform

Conclusion
Fi App Perfect for Millennials, Fi Money App is a great online banking platform with exciting features and exciting offers. The simple dashboard and great user interface provide fast money saving options and tips, making it easy for the user to make smart decisions.

The Fi app is a great personal assistant that helps the user in a variety of ways, from paying bills to paying rent to setting reminders to cancel subscriptions.

Read also:

How to earn money from cred app?

What are the Top 10 Refer & Earn Apps? earn 3000 daily

We hope that after reading this blog post your questions What is Fi Money App? (What is Fi Money App Review in English) How does it work? And what are its advantages & disadvantages? You will get the answer of all these questions easily.