FRIMI-LK-20261010FriMi is not a separate e-money wallet but a digital savings account at Nations Trust Bank: when you sign up in the app, the bank opens a real Nations Trust Bank savings account in your name, with a wallet, payments and a Mastercard debit card on top. Opening it costs nothing and needs no minimum deposit, sending money to other FriMi users and paying merchants is free, withdrawing at Nations Trust Bank ATMs is free, and the main fees are Rs. 25 for a transfer to another bank, Rs. 30 at other banks' ATMs and Rs. 400 or Rs. 1,000 a year for the virtual or physical card. The weak point is interest: 2% a year on the main balance from Rs. 5,000, while inflation reached 8.0% in August 2026.
FriMi fees and limits, October 2026
| Service | Cost or limit |
|---|---|
| Account opening and maintenance | free, no minimum deposit |
| Virtual Mastercard debit card | Rs. 400 a year (since 1 May 2024) |
| Physical Mastercard debit card | Rs. 1,000 a year, Rs. 1,000 to replace |
| Send money to another FriMi user | free, up to Rs. 1 million a day |
| Transfer to another bank (CEFTS) or other bank's credit card bill | Rs. 25 |
| Top-up from another bank via JustPay | free |
| Cash at Nations Trust Bank ATMs, with card or cardless | free; cardless cash tokens up to Rs. 25,000 |
| Cash at other banks' ATMs | Rs. 30 (balance inquiry Rs. 7.50) |
| Utility bills (CEB, LECO, Water Board) | Rs. 20; other bills and merchants free |
If you get both cards, you pay only the Rs. 1,000 physical card fee. For someone who receives a salary into FriMi, pays by QR and withdraws at Nations Trust Bank ATMs, the yearly cost can be just the card fee. Using other banks' ATMs every week, by contrast, adds about Rs. 1,500 a year.
Interest: savings pots pay more, but not enough
| Balance | Main account | Savings Pots, Round Up and Bucket List |
|---|---|---|
| below Rs. 5,000 | 0% | 0% |
| Rs. 5,000 – 9,999 | 2.00% | 0% |
| Rs. 10,000 – 99,999 | 2.00% | 2.50% |
| Rs. 100,000 – 499,999 | 2.00% | 3.00% |
| Rs. 500,000 – 999,999 | 2.00% | 3.25% |
| Rs. 1 million and above | 2.00% | 3.75% |
These are the rates FriMi publishes for its accounts. Interest is calculated daily and credited monthly. The Central Bank raised its overnight policy rate by one point to 8.75% in May 2026 and kept it there on 30 September, while headline inflation rose to 8.0% in August, so money left in FriMi loses value in real terms. FriMi is a good spending and transfer account; for savings you plan to keep for months, a fixed deposit, which FriMi itself lets you open digitally from Rs. 50,000 at Nations Trust Bank's standard rates, 10.00% a year for 12 months with interest at maturity on the bank's 2026 schedule, pays five times more than the main account.
The bank's overnight policy rate was raised to 8.75% in May 2026 and left there on 30 September, while headline inflation reached 8.0% in August, according to the independent guide updated on 24 June 2026. The guide's own heading says the savings pots pay more, but not enough.
For you that means a rate of 2.00% a year on the main balance is losing ground against prices, and even the top pot tier of 3.75% a year stays below the inflation figure. Deposits are not keeping up; the decision is about how much cash you want parked here at all.
I would not chase the top tier by locking money I might need. The rate is below inflation either way, so I would keep this account for payments and put real savings where the return actually competes.
The one lever in your hands is moving money out of the main balance and into a pot, because the tier rate rises with the balance. That does not close the gap with inflation, but it changes which side of it you are on.
Who can open it and what you need
Sri Lankan citizens aged 18 or over living in Sri Lanka can open FriMi in the app, as can Sri Lankans working abroad with a valid work visa. You need your National Identity Card or passport; a driving licence is not accepted for digital onboarding, and if your address differs from the one on your ID you upload a utility bill. Identity is then confirmed by a verification call, a video check or a branch visit. Because FriMi is a Nations Trust Bank account, your balance falls under the Sri Lanka Deposit Insurance Scheme like any other deposit at a licensed commercial bank.
Budgeting tools
FriMi's savings features are its distinctive part: up to five Savings Pots for separate goals, each opened with at least Rs. 500; Bucket List accounts with automatic monthly instalments towards a target of Rs. 10,000 or more; and Round Up, which rounds each card purchase up to the nearest Rs. 50, 100 or 500 and moves the difference into an interest-earning pot. The app also tracks spending by category, shows bills from partner billers, schedules recurring payments and splits bills with friends.
Payments and safety
FriMi pays at any LANKAQR merchant, and small shops can accept payments with a My QR code; since 6 April 2026 the merchant fee on QR payments up to Rs. 5,000 is zero under the national QR programme. Use the official app from the Play Store, App Store or AppGallery only, never share your PIN or a one-time password, and treat calls or messages asking for them as fraud. To compare FriMi with telecom wallets such as eZ Cash or other apps, see our digital wallet comparison, and for QR rules our guide to LANKAQR payments.
Use the numbers on your own balance, not on the news. Four checks:
- Write down the rate you actually earn and compare it with the inflation figure from the same month.
- Move any balance sitting below the interest threshold into a pot the same day.
- Ask yourself whether a term deposit would pay more than the pot for money you will not touch.
- Recheck the pot tiers each time you add money, since the rate changes with the tier.