Fi account further devaluation

[thomas.lunakutty]

I saw https://www.technofino.in/community/threads/fi-prime-account-devalued.39811/ and thought I would make a similar post

Fi decided to move from "Fi coins" to "Fi points".

They make bold claims like there's no devaluation, no change, easier math and all that nonsense, but the reality is, the ratio is different so they get to round down more and the net percentage is less than 2%

Fi is still my primary UPI transaction bank account, and I understand they want to move to a model where they can round down and save more money, but their announcements are absolutely misleading. Someone needs to sue them 😀

 

[BhaiyaJi]

I saw https://www.technofino.in/community/threads/fi-prime-account-devalued.39811/ and thought I would make a similar post

Fi decided to move from "Fi coins" to "Fi points".

They make bold claims like there's no devaluation, no change, easier math and all that nonsense, but the reality is, the ratio is different so they get to round down more and the net percentage is less than 2%

Fi is still my primary UPI transaction bank account, and I understand they want to move to a model where they can round down and save more money, but their announcements are absolutely misleading. Someone needs to sue them 😀

For prime I am getting same 3% rewards

 

[thomas.lunakutty]

For prime I am getting same 3% rewards

How?

Here's my example. I have a Netflix payment of Rs. 649 on the first on the month.

Earlier I was getting the full 649 coins. Now, I am getting only 51 points. However, I should ideally get 51.92 points.

Imagine I make another transaction for Rs. 151. I would have made a total of Rs. 800 , and I would have gotten 800 coins, that I can redeem for full 2%

However, I will get only 63 fi points, not 64 fi points.

The rounding down will be more and more visible as more and more transactions are made with non-divisible values.