Apple Touch ID has an FAR of 1/ 50,000 while Face ID has a FAR of 1 / 1,000,000
https://support.apple.com/en-us/HT208108
Android also insists on having an FAR of not higher than 0.002% (1 in 50,000). (Source: Android 7.0 Compatibility definition document)
A company called Eyeverify has a very relevant blog on this topic. They too seem to suggest that an FAR of 1 in 50,000 is good enough and they seem have clients in the banking sector.
https://www.eyeverify.com/blog/ceo-editorial-a-call-for-payment-grade-industry-standards