Deadline For Paytm FASTag Ends: Steps To Close It & Shift To Another Bank

As notified earlier, March 15, 2024 was the deadline to add balance to Paytm Payments Bank FASTag, according to the directive issued by Reserve Bank of India (RBI). Once you use your balance, you will no longer be able to use Paytm FASTag after March 15. In order to make things smooth and hassle-free for Paytm FASTag users, Paytm Payments Bank released new set of FAQs.

Steps to close Paytm Payments Bank FASTag: Users need to follow the following steps given below:
Open Paytm App and look for "Manage FASTag" in search menu
Check all the vehicles linked to your FASTag under the section Manage FASTag
Choose the option "Close FASTag" that you can see on the top towards the right side of the page
Select vehicle for which you want to close the FASTag
Click on proceed button and don't miss confirmation message on your screen
FASTag will get closed in a period of 5 to 7 working days

How to obtain funds for the security and minimum balance of your PPBL FASTag?
The moment your PPBL FASTag gets closed, your security deposit along with the remainder minimum balance shall be automatically credited to your Paytm Payments Bank Wallet

Can I continue to use my Paytm Payment Bank FASTag post March 15, 2024?
Yes, you will be able to use the FASTag for paying at tolls and parking facilities up to the available balance in your wallet. But, after the March 15 deadline, you can not add funds or top up your FASTag.

How will I top up my FASTag after the deadline gets over?
You won't be able to top up FASTags issued by Paytm Payments Bank after March 15 deadline. Customers must secure a new FASTag from a different bank before this date to avail hassle free and uninterrupted services

Can I transfer the credit balance from my old Paytm FASTag to new one?
No, credit balance transfer from old FASTag issued by Paytm Payments Bank to new FASTag from another bank is not available.

What steps should I take to ensure hassle-free transition after March 15?
Customers must make timely arrangements by obtaining a new FASTag from a different bank before the mentioned deadline to avoid any troublesomeness

How security deposits and minimum balance will be managed after closure of FASTag?
The applicable security deposit and remaining balance maintained for the Paytm Payments Bank FASTag will soon be refunded to your Paytm Payments Bank Wallet after the closure

How to shift to another bank after closing Paytm FASTag?
Soon after you have closed your Paytm FASTag, you can immediately move to applying to another bank as the services have been offered by several banks. New FASTag shall be dispatched to your address with a period of 7 working days. Moreover, if you find it difficult to apply for FASTag online via your banking app, you may obtain help from vendors located near toll plazas. They will offer you with FASTag and get it activated immediately and you will also save yourself from paying double charges.