If you use a Paytm FASTag, you will need to act immediately. Paytm Payments Bank Ltd (PPBL) is prohibited from allowing business transactions, including FASTag, to its users after March 15th (the latest deadline), following RBI regulations. As the closing of PPBL will impact several of its services. Let’s see how to purchase a new Fastag, transfer your Paytm FASTag account to another bank, and deactivate it.
For those who might want to know why you should deactivate your existing Paytm FASTag, it is because of the One Vehicle, One FASTag initiative. You cannot have two FASTags registered to the same vehicle or use one FASTag with two vehicles.
Since Paytm FASTag will no longer function after March 15, you must use up all of your available money and obtain a new FASTag in order to travel without interruption.
How To Deactivate Paytm FASTag via Paytm App?
Note that the deactivation process is permanent and thus, you won’t be able to reactivate the FASTag once deleted. Here’s how you can do it via the Paytm app.
- Open the Paytm app
- Click on the Profile icon in the top-left corner.
- Tap on Help & Support.
- Next, select ‘FASTag’ from the ‘Banking Services & Payments’ section.
- Finally, click on ‘Chat with us’ and raise a FASTag deactivation request.
- Follow up with Paytm if the closure request is not honored within a specific timeframe
How To Deactivate Paytm FASTagvia Website?
- First, log in to the FASTag Paytm Portal using your credentials.
- A form should appear asking for the FASTag number, registered phone number, and other details for verification purposes.
- Next, scroll to find ‘Help & Support’ and then, choose ‘I Want to Close My FASTag Profile’.
How To Buy a New FASTag Online?
There’s how you can buy a new FASTag online.
- Go to the App Store or Google Play Store to download the app ‘My FASTag’.
- You need to find the option ‘Buy FASTag’.
- This will take you to Amazon or Flipkart where you can finally make the purchase,
- To activate the FASTag, you need to go to the app, click on ‘Activate FASTag’ >> select Amazon or Flipkart >> Scan the QR >> Follow the on-screen instructions to get the tag activated.
How To Port From Paytm FASTag to Other Banks?
One97 Communications (OCL), the parent company of Paytm, is actively working with banks to enable the portability of Paytm FASTags. Up until March 15th, you can still utilize the Paytm FASTags and load the amount; after that, these tags should continue to function until the balance is accessible and there are no new deposits. Following the submission of the required paperwork and payment of the applicable porting fees, you ought to be able to transfer your Paytm FASTag to a different bank account.
Currently, there are 32 banks registered with the NHAI where you can create FASTag to pay tolls with ease. It includes Airtel Payments Bank, Axis Bank, Bank of Maharashtra, Federal Bank, FINO Payments Bank, Kotak Mahindra Bank, IDFC First Bank, IndusInd Bank, etc.