Still Using Paytm FASTag? Here Is A Step-by-Step Guide To Port To A New FASTag – News18

In a current transfer, the Reserve Bank of India (RBI) ordered Paytm Payments Bank Ltd. (PPBL) to stop taking deposits or prime-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-stage settlement, the Indian Highways Management Company (IHMCL), a division of the National Highway 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 record for FASTag issuing. The closing deadline has been moved as much as March 15; after that, Paytm FASTags can’t be used. However, customers could have the choice to shut their earlier FASTag and get a refund in accordance with the incessantly requested inquiries (FAQs) that the RBI has put forth.

If this issues you, you might be on the lookout for directions on the way to change banks or deactivate your FASTag. Here is a step-by-step methodology for porting or deactivating FASTag.

Steps For Deactivation:

• Enter your consumer ID or pockets ID alongside along with your password to entry the FASTag Paytm interface.
• For verification, present the required info, together with your registered cellphone 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.
• Indicate clearly that you simply want to deactivate your FASTag and cling to the rules given. It’s attainable that extra information will likely be wanted for processing.
• Start the method of making a service request and, for future reference, keep a observe of the criticism or reference quantity offered. If you don’t obtain the deactivation affirmation from Paytm throughout the allotted time, comply with up with them.
• Select ‘Closure Request’ because the request sort to shut both the RFID tag or the pockets linked to your account. Once 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 price. 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.

Before making any choices, 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 consumer deposits of their financial savings accounts, wallets, FASTags, and NCMC accounts. These balances can nonetheless be used. The firm is working carefully with regulators to adjust to directives and tackle issues promptly.

OCL and PPSL would switch the nodal to totally different banks throughout this time, based on Paytm. In order to offer its purchasers with a wide range of fee choices, OCL plans to ascertain alliances with different banks.

Make certain you understand how a lot cash is in your Paytm FASTag pockets earlier than choosing whether or not to switch or deactivate your FASTag.

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

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

Or you may comply with these steps:

1. Open the ‘My FASTag’ app.
2. Click on ‘Activate FASTag.’
3. Choose both Amazon or Flipkart.
4. Enter your FASTag ID and automobile particulars.
5. Your FASTag will likely be activated.
6. You also can buy FASTags from member banks corresponding to State Bank of India, ICICI Bank, Punjab National Bank, Airtel Payments Bank, Bank of Baroda, Allahabad Bank, HDFC Bank, IDBI Bank, and Yes Bank.