FI Money Infinite account | 2% in UPI/Debit Card spends

[iamankit]

Does anyone upgraded to Infinite account variant by maintaining 50k? Share your practical experience on benefits like 2% cashback and their acceptable merchant transactions for those cashbacks.

Account Plans & Benefits | Fi Money

Fi Money offers 4 plans - Salary, Infinite, Plus, and Standard. Each has its own benefits, choose your plan and enjoy using Fi

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[neel]

what should we do guys? They are not delivering what they promised. I dont want amazon gift cards currently. Is it better to close the account than keeping 1L idle?

Keeping in slice will give 5500 without all this bill payment effort

 

[SpaceBar]

Hi. I have Fi account. Used few times during the starting year and then never used. They changed their TnCs so many times I am really irritated. Though since you guys are talking about cashback on credit cards can you please summarise what is the case now. Thanks.

 

[darkjediknight]

Remind me of the exact offer? I have seen it one in a while

They let you pay 90% of the gift card value with fi coins. Currently they have 50% offer, but they change it to 90% from time to time.

 

[iamdhamo]

Fi be like we will devalue in ways possible. If you want to continue then u can continue otherwise no problem for them

 

[SpaceBar]

Just pulled out all my money to slice

Actually slice looks better. They are giving interest rate same as repo rate so it's not tough to pay the same interest unless they have high payouts.

 

[Gau₹av]

Instead of closing, we can make it 0 balance and make the DC virtual right (hotlist the physical Fi DC?). Then there are no DC charges and there are no penalties yet, are there, for non-maintenance of balance? We'll just get downgraded. When/if they get their act together, can upgrade again otherwise close

Because they're a bank account, and not a credit card (Fi CC was issued to very few), they change their T&C randomly as per their whims and fancies, no advance notification, no notification of any kind. Many offer T&C abruptly changed - all these shady behaviors is what I have a problem with. They don't need to comply to a weak RBI who has not framed rules for sudden bank account reward devaluations. (Just look at SBI, they devalued their virtual debit card rewards in 24 hours from 1% to 0.5%)

For credit card, a month's advance notice and proper communication are mandated by RBI which is why customers don't get pwned

 

[SpaceBar]

Instead of closing, we can make it 0 balance and make the DC virtual right (hotlist the physical Fi DC?). Then there are no DC charges and there are no penalties yet, are there, for non-maintenance of balance? We'll just get downgraded. When/if they get their act together, can upgrade again otherwise close

I talked to the customer care. In standard there is no minimum balance but it has physical debit card fee annually. Although virtual card fee is waived off.

 

[Gau₹av]

I talked to the customer care. In standard there is no minimum balance but it has physical debit card fee annually. Although virtual card fee is waived off.

Yes but there is no need to have a physical Fi debit card, is there?

 

[SpaceBar]

Yes but there is no need to have a physical Fi debit card, is there?

I haven't asked though but don't feel like it isn't compulsory.

 

[Saral]

Fi has added AMB tracker in app.Seems they look for average of 1 lakh over month and not daily

 

[iamdhamo]

Fi has added AMB tracker in app.Seems they look for average of 1 lakh over month and not daily

They calculate daily though

 

[SpaceBar]

They calculate daily though

The formula for calculating AMB = sum of daily balances/ days in that month.
So badically it is the average of your daily balance. They have to follow the TnC.

 

[Saral]

The formula for calculating AMB = sum of daily balances/ days in that month.
So badically it is the average of your daily balance. They have to follow the TnC.

i have missed daily balance several time but added extra on later days..And i am getting regular points as per 1lakh AMB

 

[SpaceBar]

I have one more query. After the recent amazon pay balance limit on transactions does it make sense to hold Fi Prime to get 3% fi coins which will eventually redeem to amazon pay voucher to get most of the benefits.

i have missed daily balance several time but added extra on later days..And i am getting regular points as per 1lakh AMB

If you hit AMB then yes otherwise you have to raise ticket.

 

[Saral]

AMB yes i am correcting it by month end..but daily balance is offen going below 1lakh

 

[SpaceBar]

AMB yes i am correcting it by month end..but daily balance is offen going below 1lakh

But they should check monthly average balance if they want to stick to TnC.