Fi Money review

There is a monthly fee of INR 0 on the account, so keeping it open does not cost anything each month. The card is a debit card rather than a credit card, which means spending draws on the money in the account.

The currency conversion fee is 0%, which puts the card at the top of the tables on that measure. Anyone paying for travel or shopping in another currency would read a conversion fee of 0% as the number that settles the choice.

The card runs on the visa network, so it is accepted wherever Visa debit cards are taken. The account is a debit card, meaning purchases draw directly on the balance rather than building up a bill.

The account is run by Money International, based in Belgium, under the BE_NBB licence held with reference PSD_PI BE_NBB!0475445104. The entity behind the card is therefore a regulated European payment institution rather than an unregulated card issuer.

Support runs on phone and email, so a phone call or an email both reach the team. There is no live chat listed among the support channels, which may matter if you prefer typing into a window during the day.

The debit account is the plain spending side, and the rewards sit on Fi Money's credit card instead. That card pays points at 1X per 100 spending; up to 4X on select brands, worth comparing against the cost of holding the debit account, which is INR 0.

It is a debit card, so spending takes money straight from the account balance and there is no interest to pay. Anything Fi Money offers on borrowing terms is handled through its separate credit card, which pays points at 1X per 100 spending; up to 4X on select brands.

The features listed for the account point at travel, with a currency conversion fee of 0% and a visa network behind the card. Anyone who pays a monthly fee of INR 0 for the privilege of holding a card would find little here to weigh up.