They informed in advance as they should have. RBI can't ask banks to stop their 'offers'.Don't close it. They will just waive the charges if you complain to rbi ombudsman about the other service which they are not providing.
Maybe they suspended/closed your Fi account(app access) not the actual savings account with federal Bank.
Which I also didn't knew .Maybe they suspended/closed your Fi account(app access) not the actual savings account with federal Bank.
Logically they can't as this is not a loan account and you don't owe them.What if I keep only 1 rupee in the account to tease them? Do they do balance in negative?
And if I add some amount for one day and charges are pending ? Mostly I use this account just to use ATM withdrawal. Transfer and ATM withdrawal.. not keeping amount in it.Logically they can't as this is not a loan account and you don't owe them.
Once 2% cashback is over, can't we block the card to avoid getting charged?I'm surprised that they're now charging fees for debit cards, especially for customers who opened their accounts when they were offering zero-balance accounts with no debit card issuance or annual fees. I didn't receive any email from them about this change. After seeing some tweets on X, I checked with their support team and they confirmed that charges are now applicable. I mentioned that we were told there would be no fees, but they said the terms and conditions have changed. Currently, I'm on the Fi Money Infinite Plan, maintaining a monthly balance of 50K, mainly because I receive 2% cashback on my UPI spends for credit card payments, which gives me 500Rs each month. However, if they discontinue this offer, I'll consider leaving them. I have accounts with two Federal Banks: Fi Money and INDMoney. The latter was opened for me for a US stock account, which has zero balance and no debit card. It's worth noting that Federal Bank has had issues with compliance with RBI regulations in the past, particularly regarding credit cards and KYC. Additionally, Fi Money has a reputation for freezing accounts. Even if you're only using the bank account for small transactions, their algorithm for managing accounts is not very efficient.
I think we can use a Virtual Debit Card for a Free. https://fi.money/features/accounts#standardOnce 2% cashback is over, can't we block the card to avoid getting charged?
Not my screenshot @Vaasu Annan it's his screenshotFont name bro?