In India, there is a GST applicable on forex conversion. Whenever you receive money from Alpaca Securities Inc., our American broker, in US Dollar, this amount is converted into Indian Rupees and credited to your Federal Bank Savings Account on Fi.

Even if you’re receiving an inward remittance of ₹45 or less (which might happen in case of dividends), the tax will be applicable and deducted from your account. You can read more about the GST slab rates here.

Fi partners with the best to secure your money

ISO 27001:2013

Our partner bank hosts your Savings Account and follows all security standards per applicable regulations.

Your money is always safe with our banking partner - Federal Bank, is covered under the Deposit Insurance and Credit Guarantee Corporation Scheme. This insures your money up to ₹5 lakh.

Fi itself is not a bank and doesn’t hold or claim to have a banking license.

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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.

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