How does Fego billing work?
Plans in Fego are based on API calls rather than users/accounts. You can create an account with as many team members as you want.

When you upgrade your plan, the charge for each API call is adjusted to match the new plan along with the number of experiences and insights. We do not charge for broken connections or incomplete data transfers on any of our plans. For more details, please check our Billing FAQs.
How do I upgrade / downgrade my Fego plan?
Based on your preferences for experiences and insight modules, and the number of API calls you require, our team will recommend a suitable plan for your company.

Contact our support team at support@fego.ai to add a few additional experiences and insight categories, or to switch between the Launch, Growth, and Enterprise plans if you feel you are not using the full threshold or are reaching it more quickly.
When should I consider upgrading my plan?
When your usage exceeds the number of API calls specified in any plan, your plan is automatically upgraded to the next higher plan, and the corresponding billing begins the next month.

If you want to add a few more experiences and insight categories, you can upgrade at any moment to the suitable plan.
How do I update the email address associated with my account?
You can change the email address connected with your Fego Account from your user profile on the account settings.
How do I reach out to Fego support?
You can email us at support@fego.ai, but in-app chat support is the quickest way to contact us.
What is Fego’s role in the Account Aggregator network? 
Fego is an authorised Technology Service Provider (TSP) in the Account Aggregator ecosystem that develops foundation modules to connect Financial Information Users (FIUs) and Financial Information Providers (FIPs) and deliver AA products and services.

Billing

What billing period do I pay for?
Fego charges for the subsequent 30-day billing cycle.

For example: If you made a monthly payment of ₹1,00,000 using your credit card on September 10th, 2022, the invoice billing period would be from September 10th, 2022 to October 10th, 2022.
How do prorated charges work?
Though Fego generates invoices on a monthly basis, the charges involved with each experience and insights category are calculated by the use of the API. 

You will receive a prorated fee on your subsequent monthly invoice if you exceed the number of API calls during the previous billing period and/or add a billable experience/insights category. 
How's the total on my invoice calculated?
Your invoice total is calculated by the sum of prorated charges from the previous billing period and your current usage of API calls, minus any available Fego credits on your account. The total on your invoice will match the total amount on your receipt.
Does my plan auto-renew?
Fego plans renew automatically whether a billing cycle is monthly or yearly.

The account plan will renew on the same day of the month that it was upgraded. 

It should be noted that if you switch plans in the midst of a billing cycle, a prorated refund of Fego credits will be immediately applied to that account. It will take a month after your most recent billing for this credit refund to process.
Can I pay for Fego by invoice?
Currently, it's only possible to upgrade your plan and pay for Fego with a credit/debit card. 

For enterprise accounts with a minimum of 5,00,000 API requests, we do have an invoice payment option. If you're interested, get in touch with us to discuss the options. 

Payments

What types of payments are accepted?
Fego accepts all major credit cards such as Visa, Mastercard, American Express, Discover, Diner's Club, and JCB for all of our plans.
How do I change the credit card I use for billing?
You can update your credit card details from the payment section on your account settings page.
How do I proceed if my credit card is declined?
Please ensure that your credit card details are accurate (expiry date, CVV code, etc.), and that you are typing the number completely without any dashes or spaces.

You might need to follow up with your bank to check if there are any problems on their end if your credit card is still not processed.

If you're still experiencing difficulties, please click here to talk with us.
Why did my payment fail?
Razorpay handles the payment processing for Fego. For a list of possible reasons why a payment might not go through, kindly follow this link.
Do you accept direct payments?
Please let us know if you continuously face payment issues while paying through our Razorpay payment gateway.

We will send you a unique link to pay directly to our bank account for which an invoice is generated and shared with you right away.
When do I get my refund?
Refunds for switching from an annual to a monthly membership are given as Fego credits and are added to your account when your subsequent invoice is generated.

However, please note that no credits will be given if you switch to a free account; instead, you will retain access to your premium plan until the end of the current billing month.
How are recurring charges handled?
The payment card that the account "owner" submitted will be used for all initial and continuing charges for the account. 

The account is open to other users, but they are not charged. 

Plan modifications are prorated automatically, accounting to the plan switches.

We charge or credit for any adjustments once a month, on both monthly and yearly plans.

Having all features in a single upgraded account is usually advisable.
What happens if I switch from a monthly to a yearly plan? Or vice versa?
In contrast to your current billing plan, switching between monthly and yearly plans results in an immediate invoice (and potential fee).

The revised date will also be changed for the monthly billing date.
Do you provide any exclusive discounts?
Although we don't give any direct discounts, many of our partners make good progress with our launch plan—one of the most flexible plans available, until they decide it's financially viable to upgrade to access our Growth and Enterprise features and higher storage limits.

In the interim, you can minimise the amount you'd have to pay out of pocket by using the credits you earn through referring others to Fego.
Can I have multiple account administrators?
Fego accounts are able to accommodate many administrators at the same time.
Does my Fego account have team permissions?
You can add people as team members rather than account admins if you want to restrict them with permissions like view-only or access to only specific features.
How can I add or delete team members and administrators from my account as an owner?
Depending on how much access you want to give to the features and API limitations, you can add as many admins and team members as you want.
How can I get access to my billing details?
The account settings page gives you access to all of your billing information.
Why can't I access the settings page for my account?
You won't be able to access the account settings page if you are not the owner or administrator of the account. If you require access to the account settings page, kindly get in touch with your account owner.
How do I cancel or deactivate my Fego account?
On your Fego account page, you have the option to remove or cancel your account. You can choose to "Delete your Fego user account" by clicking the link at the bottom of the overview section of your account page.
Is Fego free?
Fego is available in a free, open-ended Sandbox environment for 60 days.

Once the 60-day trial period ends, you will be prompted to upgrade your account to one of our paid plans, which include more API calls and many additional features. Here is an overview of our pricing plans: https://fego.ai/pricing.
What is FegoConnect and how does it work?
Fego Connect is a data connectivity module built on top of the Account Aggregation framework that enables you to access users' financial data from multiple banks and financial institutions, with their consent.  

Through a unified framework, it helps you connect to customers’ bank accounts with just a mobile number authentication and obtain extensive financial data from trusted bank information.
What is the Account Aggregation Framework?
Account Aggregation Framework is an RBI-approved open banking initiative that facilitates a simple and secure exchange of data across financial institutions like banks, insurance agencies or mutual fund companies to create better value and innovative services for customers. 

The information can only be shared with the user's consent.
What type of financial information will I get from "FegoConnect"?
You will get a comprehensive overview of your user’s transaction data such as income, expenses and cash flows from multiple bank accounts.  

As more financial institutions join the AA network, information like loans, insurance, mutual fund, and pension transactions will also be available soon alongside bank data.
What do I need to use FegoConnect?
You need to be a Financial Information User (FIU) in the Account Aggregation network – A registered and regulated entity by at least one of the Financial Service Regulators (FSR), namely — RBI, SEBI, IRDAI, and PFRDA.
Can I use my same app/platform for using FegoConnect?
Yes. You can integrate the FegoConnect SDK module into your existing application to collect transaction data of users from numerous banks and financial institutions' accounts.
Can I customise the UI of FegoConnect to match my brand?
Yes. FegoConnect is totally customisable to your brand's colours, logo, and styles. The primary goal is to provide your users with a simple and intuitive app flow while obtaining their financial information.
How extensive is FegoConnect's bank coverage?
Currently, 15 banks are live on the Account Aggregator network including Union Bank of India, Indian Bank, Punjab National Bank, HDFC Bank, Axis Bank, IndusInd bank, etc. 

And there are now 40+ NBFCs and fintechs on board, with many more to come.
How much does FegoConnect cost?
FegoConnect empowers you to collect authentic financial information of millions of users with lightning-fast connectivity, a secure framework, and a fully customisable user interface.  

Get the information you need to make sound financial decisions, and make use of the data in the system you currently have.  

With a flexible account structure and unlimited team members, you can effectively scale your business with just ₹1.50 per user onboarding  (Subject to a min of ₹10,000/ month).
What is FegoXP and how does it work?
“Fego XP” is a library of plug-and-play personal finance management (PFM) tools that provide contextual financial advice and notifications to help your users understand and manage their finances better. 
What type of financial experiences does "FegoXP" have?
Fego XP has 11+ full-blown financial experience APIs under six SDK modules viz. Budget Planner, Financial Health Score, Financial Calendar, Saving Management, Expense Management and Nudges. 
Do I need to be a Fintech or Bank to embed "FegoXP" modules?
Any B2C platform can now add PFM capabilities with Fego XP while we take care of the heavy lifting from analysing users’ transaction data to delivering the right nudges. 
What are the benefits of FegoXP?
You can increase customer engagement and brand loyalty by adding new financial features.
What is FegoIntel?
FegoIntel is a suite of checks and insights that enables you to verify customer information, identify risk factors and discover wealth potential.

Lenders can automate the underwriting process by building powerful tools with reliable and comprehensive data points provided by AA-powered checks while lowering risk exposure and increasing approval rates.
When do I require Checks and Insights?
FegoIntel’s checks and insights would be the perfect fit for you if you are dealing with any of the following issues:

- Facing difficulty in obtaining accurate financial information from users
- High drop-offs as a result of a lengthy onboarding process
- Having trouble making quick and solid risk decisions
- Looking for ways to broaden your credit/wealth target
Checks
What are Fego Checks and how do they work?
With FegoIntel’s Account Check, you can do quick account verification and get accurate information on users’ account names, primary & salary accounts, verified bank account number, and IFSC & MICR code.

Using Income Check, verify users’ income, its certainty, sources and frequency from bank transactions. Get accurate information on the amount, changes in the amount, employer details and additional sources of income and its certainty, in seconds.
Risk Insights
What are Fego Risk Insights and how do they work?
Creditworthiness Check uses intelligent data points derived from risk behaviour and spending patterns to determine customers' creditworthiness for new loans.

Determine the amount, duration, and terms of the loan depending on a variety of parameters including the capacity and intent to pay the debt on time, revenue, payment history, outstanding liabilities, etc.

Fego Intel’s Collection and Recovery Insights collate trends across customer portfolios based on real-time and predictive indicators such as ATM withdrawals, EMI payments, account balance, overdraft usage and red flags such as gambling and alcohol, to identify risky borrowers ahead of time. 

Fraud Insights allow you to confirm borrowers' identity by validating their name, phone number, address, and email address with the data from the account aggregation network.

You can predict and avoid fraud by tracking any fishy behaviour such as misrepresenting one's capabilities, personality, or portfolio using fraud insights. 
Wealth Insights
What are Fego Wealth Insights and how do they work?
With Wealth Insights which includes asset Insights, the maximum propensity to invest, and insurance potential, you can identify your customers' savings, investment, and insurance needs.

Every company will be a fintech company

We’re at the forefront of enabling it for you seamlessly without all the engineering and compliance overheads.