Fi is a money management platform that re-imagines the banking experience in India. The Federal Bank Account offered through our App, is a digital bank account that gives you the fastest way to open a bank account online.
You can do everything from the Fi App, including p2p payments, fund transfers, bill payments, and more, with features to automate every action. You also get a Debit Card, spends insights and tools to grow your investment and earn rewards.
Essentially, we need these to safeguard your Fi account.
They allow us – and our banking partner – to verify your phone number & SIM card.
These permissions also help make UPI transactions more secure.
It's why the National Payments Corporation of India made it a mandatory requirement.
And in case there's a new SIM used in your phone:
This feature makes sure your Fi account remains safe even in worst-case scenarios: like phone theft, etc.