Your Paytm FASTag likely to become inoperative after Feb 29; here’s what you should do
Feb 1, 2024
The Reserve Bank of India has instructed Paytm Payments Bank Ltd. (PPBL or the bank) to cease onboarding new clients immediately, in accordance with its authority under section 35A of the Banking Regulation Act, 1949.
After February 29, 2024, no more deposits, credit transactions, top-ups, or withdrawals will be permitted in any customer accounts, prepaid cards, wallets, FASTags, NCMC cards, etc,, as per the RBI circular.
Paytm Payments Bank is largest issuer of FASTag in India as per the below post from August 2023. As per the post on social media X (previously known as Twitter), “We are the largest issuers of FASTag in India — processing millions of transactions across 300+ cities Pay karo tolls, #PaytmFASTag ke saath, kahin bhi, kabhi bhi.”
What happens to prepaid instruments, FASTag, NCMC transit cards, etc. issued by the Bank?
The balance available in these instruments can be used, withdrawn or transferred, as the case may be, without any restrictions. However, any top up or further credits into these accounts are allowed only upto February 29, 2024.
So Paytm FASTag users will have to close their FASTag and even delink their vehicle from it.
How to close Paytm FASTag
Step 1: Login to the Paytm app using the mobile number registered with your FASTag account
Step 2: In the ‘Search Bar’, type ‘FASTag’ and click on ‘Manage FASTag’ under the ‘Services’ section
Step 3: You will be redirected to a screen displaying all the active FASTag accounts linked to your Paytm number
Step 4: Scroll to the bottom of the page and tap on the ‘Help & Support’ option
Step 5: You will be redirected to the FASTag Help & Support screen
Step 6: Tap on ‘Need help with non-order related queries?’
Step 7: Select the option ‘Queries related to updating FASTag profile’
Step 8: Select the option ‘I want to close my FASTag’ and follow the steps mentioned there
Customers can also call on our Toll free number: 1800-120-4210 and mention your mobile number against which the tag has been registered along with the Vehicle Registration Number (VRN) or Tag ID, as per the website.
Paytm Customer Support agent will get in touch with you to confirm the closure of FASTag.
Once you close your Paytm FASTag, you can open a new FAStag account with a new provider.
Different ways to close Paytm Fastag
The processes used by various FASTag issuers to terminate their customers' accounts differ. All FASTag issuers can still choose to close their tags, but in different methods. You have two options for closing or deactivating your FASTag:
Call customer service
If you have the NHAI FASTag, you can phone the NHAI Customer Service at 1033 and ask the appropriate authority to begin your request to close your FASTag.
Use your FASTag-linked mobile payment app.
Log in to the mobile application of your FASTag issuing bank or your Paytm prepaid wallet, and follow the procedures to terminate your FASTag account.
Log in to the online FASTag portal
Login portal of your FASTag issuing bank and terminate your FASTag account.
[The Economic Times]
