Fi Debit Card (Fi Money)
Fi, the money management application that operates in partnership with Federal Bank, offers debit cards to the accountholders at zero forex charges and other facilities.
Fi, a digital money management platform, ensures financial security with cutting-edge technology and issues debit cards to all the accountholders that come with a host of benefits. Here are more details about Fi Debit Card.
What is a Fi debit card?
Fi Money issues all the Fi accountholders with Visa Platinum cards in partnership with the Federal Bank. These cards are issued both in virtual and physical forms when an individual opens the Fi savings bank account.
Features of Fi Debit Card
The list of features of Fi debit cards are given below:
- These cards do not incur any charges on international transactions, therefore offer zero forex facility depending on the chosen account type.
- Offers discounts on top brands in shopping, travel, food and entertainment.
- Allows hassle-free cash withdrawals by providing an extensive range of ATM networks.
- Offers quick, easy, safe and contactless payment by just tapping the card on the payment terminal.
- Provides 24x7 global assistance for any issues related to Fi debit cards.
- These cards are widely accepted globally wherever Visa cards are accepted.
- the Visa Platinum Concierge service that helps with booking reservations, travel planning, and other lifestyle requirements can be accessed with these cards.
Benefits of Fi Debit Card
The list of Benefits of Fi debit cards are given below:
- No minimum balance requirement: There is no minimum balance requirement for the Fi savings account.
- Insurance Benefits: Under the RBI's insurance deposit scheme, deposits made to Fi savings accounts are insured up to Rs.5 lakh.
- Zero maintenance fee: There are no hidden fees associated with the Fi savings account since no annual account maintenance fee is imposed.
- Zero forex markup: No additional charges or forex markup charges are levied on international transactions. In addition, you may want to check credit cards that offer benefits on international travel.
- Avail multiple types of transactions: You can make domestic as well as international transactions using the Fi debit card. The physical Fi Money card may be used for a variety of transactions, including contactless, online, at POS, and ATMs.
- Access to ATMs globally: Every location that accepts Visa cards also accepts Fi debit cards. You are entitled to 5 free cash withdrawals per month from Federal Bank ATMs.
- Zero charges for transactions: You do not have to pay any additional transaction fees on using RTGS, IMPS, NEFT, and UPI. You will also receive updates via SMS and email regarding the transactions at no additional cost.
- Digital Card: You can avail both a digital and a physical card with Fi Money. Once you submit the necessary KYC, you will receive a virtual debit card. Note that you can this card only for domestic transactions.
- Offers and discounts: The Fi card enables you to benefit from top brands and receive frequent offers and discounts in a variety of categories such as lifestyle, travel, dining, shopping, and more.
- Fuel Surcharge: Fi debit card account holders must pay a fuel surcharge of 2.5% or Rs.10 (whichever is more) on POS transactions made at petrol stations.
Fees and Charges for Fi Debit Card
The following are the charges applicable on Fi Debit Cards:
Charges | Amount |
Annual card maintenance charges |
Annual maintenance charge will be zero or Rs.199, if transaction amount is more than Rs.25,000 or otherwise, respectively.
|
Forex Charges |
|
| |
International ATM Charges | Cash withdrawal from international TAM will incur Rs.100. |
Card Replacement Charges | Rs. 250 plus 18% GST |
Purchase transaction decline fee |
|
Fuel Surcharge | 2.50% of the transaction amount or Rs.10, whichever is higher |
Fi Debit Card Limits
Here are the details about the transaction limit of Fi debit cards:
The Fi debit card usually comes with daily shopping limit of Rs.3 lakh. The cash withdrawal limit per day is Rs.50,000 for this card. This brings the card's total limit to Rs.3.5 lakh. You can modify the card limits via the Fi app to match your spending plan.
You can check the limits on your Fi debit card by following the steps mentioned below:
Step 1: Open the Fi app on your smartphone.
Step 2: Tap on the 'Card' icon.
Step 3: Select the 'Card Limits' option under ‘Card Settings.’
Step 4: Check your debit card’s spending limit. Additionally, you have the option to change this usage cap to suit your needs.
How to Apply for Fi Debit Card?
Here are the steps to apply for a Fi debit card:
Step 1: Convert your account to a full KYC account
Step 2: Ensure that your PAN and Aadhaar details are updated to the Central KYC register
Step 3: Complete the verification of the Fi app through a video call
Step 4: Cross-check the registered address on the Fi app
After completion of the verification and application process, the physical card gets delivered to the registered address.
Eligibility Criteria to Apply Fi Debit Card
Here are the required eligibility criteria to apply for Fi debit card:
- Any working professional with a Fi savings account in India is eligible for applying for a Fi debit card.
- Individuals must also complete the video KYC procedure and upgrade their accounts.
How to Activate Fi Debit Card?
The following are the steps to activate the Fi debit card:
Step 1: Fi issues free Visa Platinum debit card
Step 2: Open the Fi app and log in using your credentials
Step 3: Click on the QR code icon To activate the card
Step 4: Finally, Click on the QR code on the debit card box
How to Reset Fi Debit Card Pin?
Users can reset their Fi Debit Card PIN both with and without UPI PIN. Here are the steps to reset PIN using both the methods:
Using UPI PIN:
Step 1: Open your Fi Mobile application
Step 2: Click on Card Settings option
Step 3: Select the option ‘Reset ATM PIN’
Step 4: Enter your UPI PIN received on your registered mobile number
Step 5: ATM PIN will be changed after entering the OTP.
Without Using UPI PIN:
Step 1: Download and install FI mobile application
Step 2: Open the FI mobile app and click on card settings option
Step 3: Click on ‘Reset ATM PIN’ option
Step 4: On the bottom of the screen, click on the Liveness test link
Step 5: Complete the identity verification by clicking on ‘Next’ and recording your video
Step 6: Record the video aligning your face
Step 7: Read aloud the 4-digits displayed on the screen
Step 8: Enter the OTP received on your registered mobile number
Step 9: Reset the PIN as per the given instructions
FAQs on Fi Money Debit Card
- How to contact the customer care for issues related to Fi Federal Debit card?
For any issues you can raise disputes on Fi application or contact the Fi Money customer care number 08047485490 for further assitance which is available 24x7.
- What are the benefits of Fi Federal Debit Card?
Some of the benefits of Fi Federal debit cards are zero forex markup; free online transactions; offers global online transaction; contactless transaction and discounts and offers across top brands.
- How much can I withdraw from my Fi Federal Debit Card?
The withdrawal limit from your Fi Federal debit card is as per the withdrawal limit mentioned on the Fi application. Click on the card symbol on the top right corner on the home page of the application to check the card limit. Click on ‘Card Limits’ under the card settings, to view your spending limit.
- Can I change the transaction limit of my Fi Federal Debit Card?
Yes, you can change your Fi Federal debit card limit as per your requirements by navigating to the card setting options in Fi application. To modify the spending limit as per your need, tap on the ‘Card Limits’ option and click on ‘International card usage’ option to manage you spends abroad by changing your limits.
- Do I get charged annual fees on the Debit Card?
No, you will not be charged with annual fees on your Fi Debit Cards as these cards come with zero annual card maintenance cost.
- Do I get charged for international ATM withdrawals?
Yes, you will be charged for cash withdrawals at international ATMs for an amount of Rs.100. You will also be charged a minimum amount of Rs.25 for all non-transactions such as mini statement at foreign ATMs.
- If I already have a physical debit card, will I be charged for it now?
No, you will not be charged any fees for your existing physical debit card. Charges will only be imposed if you order a brand-new physical Fi debit card.
- Is a fi debit card free?
Yes, Fi debit cards are provided free of cost to all those who have Fi savings account and are provided in both digital and physical forms.
- When can I expect my physical Debit Card?
You will receive your Fi debit card after opening Fi-Federal account and completing your video KYC. You need to have a minimum KYC account and upgrade to a full Fi-Federal account.
- Is FI and Federal Bank the same?
Yes, FI and Federal Bank are the same, as Fi Money and Federal Bank have collaborated, and Fi Money is the completely digital platform.
- How to get cashback in Fi Money?
Connect other bank accounts to Fi Money to receive cashback. It is safe and RBI approved, and you can track all your transactions in one place. Fi offers 5.00% cashback, which is around Rs.500.
- Does Fi debit card have lounge access?
No, Fi debit card does not provide lounge access.
- How to track delivery of Fi Money Debit Card?
Yes, you can track the delivery of Fi Money debit card by installing the Fi Money app. Login to the app using your credentials and click on the debit card icon on the upper left corner of the application. Click on ‘view details’ option to track the status of delivery of Fi debit card.
- How do I activate international transactions on my fi card?
You can activate the international transaction on your Fi debit card by opening the Fi Money app and logging into the account. Click on the ‘Debit Card Icon’ and select ‘Card Usage’ under ‘Card Settings’ option.
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