Nonetheless Utilizing Paytm FASTag? Right here Is A Step-by-Step Information To Port To A New FASTag

In a latest transfer, the Reserve Financial institution of India (RBI) ordered Paytm Funds Financial institution Ltd. (PPBL) to stop taking deposits or top-ups in any shopper accounts — together with wallets and FASTags — after February 29, 2024. As PPBL didn’t comply with the rules within the service-level settlement, the Indian Highways Administration Firm (IHMCL), a division of the Nationwide Freeway Authority of India (NHAI), prohibited PPBL from issuing new FASTags.

NHAI suggests customers purchase FASTags from the 32 banks that at the moment are on the authorised listing for FASTag issuing. The ultimate deadline has been moved as much as March 15; after that, Paytm FASTags can’t be used. Nonetheless, shoppers may have the choice to shut their earlier FASTag and get a refund in accordance with the steadily requested inquiries (FAQs) that the RBI has put forth.

If this issues you, it’s possible you’ll be on the lookout for directions on easy methods to change banks or deactivate your FASTag. Here’s a step-by-step technique for porting or deactivating FASTag.

Steps For Deactivation:

• Enter your person ID or pockets ID alongside along with your password to entry the FASTag Paytm interface.
• For verification, present the required data, together with your registered telephone quantity and FASTag quantity.
• Go to the portal’s Service Request space or utilise the Paytm app’s 24/7 help part and select the ‘The FASTag’ class.
• Point out clearly that you just want to deactivate your FASTag and cling to the rules given. It’s doable that extra information might be wanted for processing.
• Begin the method of making a service request and, for future reference, keep a be aware of the grievance or reference quantity supplied. When you don’t obtain the deactivation affirmation from Paytm inside the allotted time, comply with up with them.
• Choose ‘Closure Request’ because the request kind to shut both the RFID tag or the pockets linked to your account. As soon as deactivated, the identical FASTag can’t be reactivated.

Steps For Porting:

Make contact with the brand new financial institution’s customer support division and comply with their instructions. This would possibly entail finishing an software, sending the required paperwork, and submitting a porting payment. Your new financial institution will ship you a affirmation message when your porting request is authorised. You can begin utilizing your FASTag with the brand new checking account.

Earlier than making any selections, it’s vital to notice that Paytm’s mother or father firm, One97 Communications (OCL), has assured its clients that RBI restrictions don’t affect person deposits of their financial savings accounts, wallets, FASTags, and NCMC accounts. These balances can nonetheless be used. The corporate is working intently with regulators to adjust to directives and handle issues promptly.

OCL and PPSL would switch the nodal to completely different banks throughout this time, in keeping with Paytm. As a way to present its purchasers with a wide range of cost choices, OCL plans to ascertain alliances with different banks.

Ensure you know the way a lot cash is in your Paytm FASTag pockets earlier than deciding on whether or not to switch or deactivate your FASTag.

You may comply with these steps to purchase a brand new FASTag on-line:

1. Obtain the ‘My FASTag’ app.
2. Click on on ‘Purchase FASTag’ to be directed to an e-commerce hyperlink.
3. Buy the FASTag, and it will likely be delivered to you.

Or you may comply with these steps:

1. Open the ‘My FASTag’ app.
2. Click on on ‘Activate FASTag.’
3. Select both Amazon or Flipkart.
4. Enter your FASTag ID and automobile particulars.
5. Your FASTag might be activated.
6. You may also buy FASTags from member banks equivalent to State Financial institution of India, ICICI Financial institution, Punjab Nationwide Financial institution, Airtel Funds Financial institution, Financial institution of Baroda, Allahabad Financial institution, HDFC Financial institution, IDBI Financial institution, and Sure Financial institution.