Here’s how you can deactivate or port your Paytm FASTag

The Paytm FASTag, a handy cashless toll fee resolution, has encountered difficulties following current regulatory constraints from the Reserve Bank of India (RBI) affecting Paytm companies. Numerous customers have voiced apprehensions concerning their Paytm FASTag pockets steadiness and the viability of the service.

If you’re amongst these involved, you is likely to be searching for steering on deactivating or transferring your FASTag to a different financial institution. Here’s how you can port or deactivate FASTag.

Deactivation

• Log in to the FASTag Paytm portal utilizing your person ID or pockets ID and password.
• Provide the required particulars, resembling your FASTag quantity and registered cellular quantity, for verification.
• Navigate to the Service Request part inside the portal or use the 24*7 assist part of your Paytm app, deciding on the ‘The FASTag’ class.
• Clearly state your intention to deactivate your FASTag and observe the directions supplied. Additional info could also be required for processing.
• Initiate the creation of a service request and preserve a report of the grievance or reference quantity supplied for future reference. Follow up with Paytm if deactivation affirmation will not be acquired inside the specified time-frame.
• Choose “Closure Request” because the request sort to shut both the RFID tag or the pockets related to your account.

Once deactivated, reactivation of the identical FASTag will not be doable.

Porting

If you want to port your Paytm FASTag to a different financial institution, observe these steps:

Contact the shopper care division of the brand new financial institution and cling to their directions. This might contain filling out an utility kind, submitting crucial paperwork, and paying a porting price. Upon approval of your porting request, you will obtain a affirmation message from the brand new financial institution. You can then use your FASTag with the brand new checking account.

However, earlier than taking motion, contemplate that Paytm’s mum or dad firm, One97 Communications (OCL), has assured its clients that RBI restrictions don’t have an effect on person deposits of their financial savings accounts, wallets, FASTags, and NCMC accounts. These balances can nonetheless be utilised. The firm is actively collaborating with regulators to adjust to directives and deal with issues promptly.

Paytm acknowledged, “OCL and PPSL will transfer the nodal to different banks throughout this era. OCL will pursue partnerships with numerous different banks, to supply numerous fee merchandise to its clients.”

If you are uncertain about your Paytm FASTag pockets steadiness, confirm earlier than deciding whether or not to deactivate or port your FASTag.