Updated September 28, 2026 · VaultCue Editorial Team
Fi Money vs KakaoBank
Fi Money
Higher score in this comparison
KakaoBank
Where Fi Money and KakaoBank differ
| Compare | Fi MoneyReviewSee alternativesSee alternatives | KakaoBankReviewSee alternativesSee alternatives |
|---|---|---|
| Monthly fee | ₹0 | ₩0 |
| Licence type | Payment institution | Not confirmed |
| Deposit protection | EU DGS up to EUR 100,000 | Not confirmed |
| Currencies | Not confirmed | 9 |
| Free ATM withdrawals | Not confirmed | ₩0 |
| Transfer fee | Not confirmed | 0 KRW - interbank transfer and automatic transfer fees waived, plus all-bank and convenience-store ATM deposit, transfer and withdrawal fees |
Same on both: Currency conversion fee (0%).
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Key differences
- Fi Money is available in 1 more country.
- Support channels: only Fi Money offers Email.
- Support channels: only KakaoBank offers Phone.
- Pricing model: only Fi Money offers Low FX.
- Features: only KakaoBank offers Free ATM.
Our verdict on each
Fi Money
Fi Money charges a monthly fee of INR 0 and a currency conversion fee of 0%, a pairing that sits at the sharp end of the everyday account market. It suits people who want easy access savings on digital only terms, and less so anyone who needs support beyond email, chat and help centre.
KakaoBank
KakaoBank suits Korean residents, businesses and teens who want a fee-free everyday account run from an app, with a currency conversion fee of 0% and a variable rate of 0.1%. The 2016 bank is licensed by the Financial Services Commission (Korea), so money sits with a regulated bank rather than an e-money firm.
Score breakdown
| Area | Fi Money | KakaoBank |
|---|---|---|
| Cost | 9.4 | 9.4Monthly fee of KRW 0, currency conversion fee of 0% and interbank and ATM fees waived. |
| Offer | 9.2Higher | 9.1Variable interest at 0.1% on easy access terms, 9 currencies, 1-3 days remittance. |
| Trust | 8.2 | 8.4Higher |
How they place
| Ranking | Fi Money | KakaoBank |
|---|---|---|
| Savings accounts | 404 of 1420 | 408 of 1420 |
| Online banks | 123 of 402 | 124 of 402 |
Every fact side by side
| Fact | Fi Money | KakaoBank |
|---|---|---|
| Audience | Not confirmed | Business, Teen |
| Pricing model | No monthly fee, Low FXCovers more | No monthly fee |
| Features | Digital only | Free ATM, Digital onlyCovers more |
| Legal entity | Money International | KakaoBank Corp. (주)카카오뱅크 |
| Headquarters | Belgium | South Korea |
| Founded | Not confirmed | 2016 |
| Support channels | Email, Chat, Help centre | Phone, Help centre, Chat |
Savings
| Fact | Fi Money | KakaoBank |
|---|---|---|
| Headline rate | Not confirmed | 0.1% |
| Rate type | Not confirmed | Variable |
| Access terms | Existing accounts: log in to the Federal Bank FedMobile app; new savings accounts cannot be opened through the Fi app | No contract period and no deposit limit; domestic residents aged 14+; interest settled monthly and paid the following day |
| Account kind | Easy access | Easy access |
Money transfer
| Fact | Fi Money | KakaoBank |
|---|---|---|
| Delivery time | Not confirmed | 1-3 days |
| Payout methods | Not confirmed | Bank, Cash pickup |
| Fee to send 1,000 | Not confirmed | ₩4,900 |
Where each stands against the rest
| Fact | Fi Money | KakaoBank | Median |
|---|---|---|---|
| Currency conversion fee | 0%below the median | 0%below the median | 0.5% |
| Currencies | Not confirmed | 9above the median | 5 |
Median across 536 listed accounts.
Pros and cons
Fi Money
Pros
- A monthly fee of INR 0 and a conversion fee of 0% put Fi Money at a rank of 1 among 500 brands, and 1 among 312 brands for conversion.
- Deposits sit under EU DGS up to EUR 100,000, and the savings account is easy access so the balance stays reachable.
- The pricing model is no monthly fee and low fx, with day to day help over email, chat and help centre.
Cons
- New savings accounts are opened outside the Fi app, so existing customers reach the balance through the Federal Bank FedMobile app.
- Support runs on email, chat and help centre only, so there is no phone line for urgent problems.
- The account is digital only, so branch and counter service are ruled out.
KakaoBank
Pros
- No monthly charge, with interbank, automatic transfer and all-bank ATM fees waived on transfers
- Currency conversion fee of 0%, which ranks joint top of 312 brands on cost
- Free ATM access and a digital-only service, with interest settled monthly and paid the next day
Cons
- Interest is modest, at a variable 0.1% against a 3% median
- Currencies are limited to 9, behind the 9 median for everyday accounts
- Remittances cost KRW 4,900 and take 1-3 days
Who each suits
Fi Money
Who it suits
- People who want an easy access savings account with a monthly fee of INR 0 and a conversion fee of 0%.
- Existing Federal Bank FedMobile app users who want their savings balance in the same place as their everyday banking.
Who should look elsewhere
- Anyone after a card and credit product rather than savings, where AXI Card lists a monthly fee of €0.
- People who want a dealing platform or a payments wallet, where XTB charges a monthly fee of €0 and Skrill charges €0.
KakaoBank
Who it suits
- Domestic residents who want everyday banking with no monthly charge
- Small businesses that need business and teen banking and frequent transfers
- Teens opening a first account at a minimum age
Who should look elsewhere
- Anyone holding a single currency, since 9 is short of the 350 seen site wide
- Savings seekers, because a variable 0.1% sits well under the 3% median
- People wanting cash abroad fast, since remittances take 1-3 days and cost KRW 4,900
Country by country
| Country | Fi Money | KakaoBank |
|---|---|---|
| Belgium | Yes | No |
| India | Yes | No |
| South Korea | No | Yes |
Questions about each
Fi Money
What does it cost to keep a Fi Money account?+
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.
Is my money protected and who regulates Fi Money?+
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.
KakaoBank
Is there a monthly fee for a KakaoBank account?+
There is no monthly charge on the account, which ranks joint top of 500 brands on that measure. Transfers are also free: interbank and automatic transfer fees are waived, together with deposit, transfer and withdrawal fees at all-bank and convenience-store ATMs. The balance earns a variable 0.1%, settled monthly and paid the following day.
What interest does the account pay and is it fixed?+
The rate is variable at 0.1%, and it moves rather than being locked in. That is well under the 3% median across the site, and there is no notice period to serve and no cap on the balance, so money can be taken out whenever. It is a spending and payment account rather than a home for savings.
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