Paytm has been sanctioned by the Reserve Bank of India, which will severely impact their services starting March 15, 2024. Although users will be able to utilize their existing funds in all Paytm, they won’t be able to recharge or add new balances to their wallet, payments bank, and even FASTags. This has created a situation of panic among car owners as Paytm is one of the largest FASTag issuers in the country with a market share of almost 30%. Here’s a guide on how you can deactivate or port your Paytm FASTag to a new bank.
How to deactivate Paytm FASTag
You can deactivate your Paytm in two ways. The first method is by directly calling Paytm Customer Care Support on 01204456456 or 18001204210, where you can raise a request to close your Paytm FASTag. You will be asked to verify your identity, after which you are required to provide your registered phone number and VRN (Vehicle Registration Number).
Once the request is raised, your Paytm FASTag will be deactivated in 5-7 business days. The leftover balance and security deposit of your Paytm FASTag will be refunded to your Paytm Wallet upon successful closure.
You can also deactivate and close your Paytm FASTag from the Paytm app. Here’s how:
Step 1: Open the Paytm app on your Android or iOS smartphone, and go to the FASTag section.
Step 2: Select the FASTag which you want to close, and scroll down to the ‘Help and Support’ section.
Step 3: Now choose the ‘Need help with non-order related queries’ option.
Step 4: Select the ‘I want to close my FASTag’ option. If you don’t see this option, then use the restart chat button to refresh the support chat.
Step 5: Confirm the VRN of your FASTag that you wish to close, and select ‘Yes’.
Paytm will now deactivate your FASTag. You will also receive a confirmation SMS of the same. Note that the Paytm app will ask you to remove your deactivated FASTag from your car, and upload a photo of the destroyed pieces of the FASTag to complete the process.
How to port Paytm FASTag to another bank
You can also port your existing Paytm FASTag to any other bank. Currently, there are over 30 different FASTag service providers in India which include ICICI Bank, HDFC Bank, Axis Bank, IDFC Bank, Airtel Payments Bank, and many others.
You can contact any bank of your choice, and raise a request to port your existing Paytm FASTag. The new issuing bank will then initiate the process by doing your KYC. Note that the exact porting procedure will depend on your new bank. It is advised that you keep your Aadhaar Card and Driving License handy.
How to apply for a new FASTag
You can apply for a new FASTag in two ways, offline and online. The offline method is faster as your FASTag will be activated instantly, whereas the online method can take some time as it involves getting the FASTag delivered to your home.
To apply for a new FASTag offline, you can visit any nearby NHAI-registered toll plaza where you can find booths or agents issuing new FASTags. However, you won’t have the flexibility to choose your new FASTag issuing bank. Here’s how you can get your FASTag offline:
Step 1: Search for a FASTag agent at your nearest NHAI-registered toll plaza.
Step 2: Provide your car’s registration certificate (RC) and other details to initiate the process.
Step 3: The car owner will be asked for their ID proof, which can be your Aadhaar Card or Driving License.
Step 4: Pay Rs 100 as joining fees for your new FASTag. This is a one-time, non-refundable fee.
Step 5: You will also be asked for a security deposit fee depending on the category of your car. It ranges from Rs 100 for cars and goes up to Rs 500 for buses and trucks. This fee will be refunded to you when you close or deactivate your FASTag.
Once the documentation is complete, your FASTag will be activated within 1-2 hours. In some cases, the activation can take up to 24-48 hours.
If you want your new FASTag from your preferred choice of bank, then you should apply online. Visit the official website of your respective bank, and navigate to the appropriate section for applying a new FASTag. The documents required for the process are the same, where you will be asked for the registration certificate (RC) of your car, and your ID proof.
Upon successful registration, your new FASTag will get delivered to your address.
FAQs
1. What happens to my wallet balance when I deactivate my FASTag?
Any remaining balance in your FASTag will be refunded to your bank account when you deactivate your FASTag. In the case of Paym FASTag, your balance will be refunded to your Paytm Wallet, which you can manually transfer to your bank account.
2. Does my FASTag balance get transferred to the new bank when I port?
No, your FASTag balance is not transferred automatically to your new bank when you port it. The remaining balance will be first refunded to your bank account, after which you can use this amount to recharge your new FASTag.
