Fi Money review

The monthly fee is INR 0 and the currency conversion fee is 0%, so neither common charge adds anything to the cost. Fi Money ranks 1 among 500 brands for the monthly fee and 1 among 312 for conversion.

The legal entity is Money International, registered in Belgium, and it holds a payment institution licence listed as PSD_PI BE_NBB!0475445104. It appears on the BE_NBB register and the European Banking Authority payment services register. Deposits are covered by EU DGS up to EUR 100,000, which protects savings up to the scheme limit.

It is an easy access account, so savings stay reachable rather than locked for a set period. The account runs on no monthly fee and low fx terms, and the service is digital only, with everything handled in the app.

New savings accounts are opened outside the Fi app, while existing customers log in to the Federal Bank FedMobile app to reach the balance. The account is digital only, so access runs through the Federal Bank app rather than a standalone Fi app.

Support runs through email, chat and help centre, which covers email, live chat and a self service help centre. There is no phone number listed, so urgent problems take longer to sort, and it suits people comfortable writing rather than calling.

It suits people who want an easy access account with a monthly fee of INR 0 and a conversion fee of 0%. It suits those already using the Federal Bank FedMobile app, since the savings balance is reached from there. It does not suit anyone who wants phone support.

The conversion fee is 0%, so changing currency adds nothing to the exchange itself. Fi Money ranks 1 among 312 brands on this measure, against a site range that runs to 7% at the other end.