- Fino Payments Bank (FPB) has announced the launch of a sweep account facility in association with Suryoday Small Finance Bank (SSFB).
- As payments bank have a limit of maximum deposit per account of Rs 1 lakh, the excess amount of Rs 1 lakh in account maintained with Fino Payments Bank (FPB) will be transferred/parked in an account of Suryoday Small Finance Bank (SSFB). By this method a person can in a way maintain more than Rs 1 lakh balance even in Fino Payments Bank.
- The service can be activated using the mobile banking app BPay of Fino Payments Bank.
Points to remember:
- Fino Payments Bank has tied up with which bank for sweep account facility above Rs 1 lakh?
- BPay mobile app is of which bank?