Closing Paytm Funds Financial institution FASTag account? Right here’s how one can test and handle your Paytm FASTag standing | India Enterprise Information

Paytm Funds Financial institution FASTag: The Reserve Financial institution of India (RBI) has banned Paytm Funds Financial institution (PPBL) from taking over new shoppers for various providers. After March 15, no new deposits, credit score transactions, or top-ups will likely be accepted for buyer accounts, pay as you go playing cards, Paytm Wallets, FASTags, NCMC playing cards, and many others.
The Nationwide Highways Authority of India (NHAI) means that Paytm FASTag clients ought to receive a brand new FASTag from one other financial institution earlier than March 15.This recommendation goals to stop penalties or further prices throughout journey on Nationwide Highways.
In line with NHAI’s advisory on March 13, 2024, buying a brand new FASTag from a distinct financial institution earlier than the deadline ensures a seamless journey expertise and prevents inconvenience at toll plazas. This step aligns with the RBI’s pointers concerning restrictions on Paytm Funds Financial institution. After March 15, Paytm FASTag customers will not be capable of recharge or prime up their stability, however they’ll use their present stability to pay tolls past this date.
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This is what it’s good to know concerning the standing of your Paytm FASTag and easy methods to handle it successfully:

Closing your Paytm FASTag account
When you’re a Paytm FASTag consumer, it’s essential to shut your account by March 15, 2024, as per the RBI directive. To do that, you will must deactivate your present FASTag issued by Paytm Funds Financial institution and acquire a brand new FASTag from one other NHAI-authorised issuer.
Avoiding penalties and extra charges
The Nationwide Highways Authority of India (NHAI) advises Paytm FASTag clients to obtain a brand new FASTag from one other financial institution earlier than the stipulated deadline to keep away from penalties or extra charges whereas commuting on Nationwide Highways.
Problem in closing Paytm FASTag
You can’t switch your Paytm Funds Financial institution FASTag to a different account, and there isn’t any choice to switch the credit score stability throughout the FASTag product. Consequently, you will want to shut your previous FASTag issued by Paytm Funds Financial institution and request a refund from the financial institution.
When you request the closure, it sometimes takes 5-7 working days for the FASTag account to be closed. Throughout this course of, any safety deposit and minimal stability will likely be refunded to your Paytm Funds Financial institution pockets.
A number of customers have expressed difficulties in closing their Paytm FASTag accounts via social media platforms, in keeping with an ET report.
Checking Paytm FASTag standing
To provoke the closure of your Paytm FASTag account, you’ll be able to name the toll-free quantity 1800-120-4210. When contacting buyer assist, present your cell quantity related to the tag registration, together with both the Automobile Registration Quantity (VRN) or Tag ID. A Paytm Funds Financial institution buyer assist agent will then contact you to substantiate the closure of your FASTag account.
Alternatively, you can even increase issues or points concerning your FASTag via the 24×7 assist part of the Paytm app. Merely choose the ‘Fastag’ class and select essentially the most appropriate situation from the choices offered.
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This is how one can test your NETC FASTag standing

Energetic Paytm FASTag
You may decide in case your Paytm FASTag is energetic by checking the “Handle Tags” part in your FASTag sub-wallet. In case your tag is energetic, will probably be displayed there.
Managing FASTag on-line
You can too handle your FASTag on-line by visiting the official web site of the FASTag issuer in your car. Log in to your FASTag account to test your stability and examine your account assertion to trace earlier funds.
Paytm’s choices and updates
In line with a set of FAQs launched by Paytm Funds Financial institution on March 14, 2024, they’re providing HDFC Financial institution FASTags and facilitating FASTag recharges for different partnered banks via the Paytm app. Nevertheless, clients can not buy Paytm Funds Financial institution FASTags. Nonetheless, they’ll recharge their Paytm Funds Financial institution FASTags earlier than March 15 and proceed utilizing the stability till it is depleted.