Recently, the Reserve Bank of India (RBI) took strict measures against Paytm Payments Bank (PPBL), preventing them from adding new customers and imposing restrictions on various transactions from February 29, 2024. This has left many Paytm FASTag users looking to Close their Paytm FASTag accounts and switch to alternative services.
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Important Considerations before Deactivating Your Paytm FASTag
| No Reactivation: Once deactivated, you cannot reactivate your Paytm FASTag. A new one will be needed. | Refunds: Closing your Paytm FASTag account will result in a complete refund of the security deposit and balance. However, obtaining a new FASTag may incur charges. |
| Non-Transferable Balance: The balance in your Paytm FASTag cannot be transferred to other FASTag accounts. |
Despite these changes, Paytm assures its users that the FASTag service will not be disrupted, as they are working with other banks to ensure a smooth transition. After February 29, 2024, you won’t be able to top up your FASTag wallet. Without funds, your FASTag becomes unusable, as toll plazas won’t be able to deduct toll charges. It’s advisable to take action to close Paytm FASTag and get refund, and consider switching to other available FASTag options.
Steps to Deactivate Paytm FASTag via Paytm App
To deactivate FASTag online log in to your Paytm account with the registered mobile number.
Tap on FASTag from the Paytm app homepage.
If FASTag is not visible on the homepage, tap on Wallet, then tap on the down arrow next to the Paytm Wallet Balance.
Select FASTag
Tap on Manage FASTags
Your FASTag details will be displayed
Tap on Close FASTag at the top right corner of the Manage FASTags page.
Select the FASTag you want to close from the list
On the next page, select a reason for closing your FASTag and tap on the Proceed button
A pop-up will appear confirming the closure of your FASTag within 5-7 days. It will mention that the security deposit and minimum balance maintained will be refunded to your Paytm Payments Bank Wallet and display the refundable amount.
Tap on Close FASTag to place a request to close Paytm FASTag and get Refund
A successful request popup will appear stating that your closure request has been received and your FASTag will be marked as inactive within 5-7 working days. It will advise you to remove the FASTag from your vehicle and destroy it, recommending to upload an image of the destroyed FASTag.
Tap on the camera icon in the popup message and upload the image of the destroyed FASTag and tap on Upload.
Your request for Paytm FASTag closure will be successfully initiated, and the status of the FASTag appearing on the Manage FASTag page will be displayed as Closure initiated.
The closure request will be processed within 5-7 working days.
Upon checking the FASTag under Manage Fastag after few days the status of your FASTag will be displayed as closed and the Paytm FASTag closure refund which is the Security deposit and minimum balance maintained will be credited into your Paytm Main Wallet Balance which you can use.
Close Paytm FASTag via Paytm Customer Care
Call Paytm’s Customer Care at 01204456456 or toll-free 18001204210. Provide your mobile number and Vehicle Registration Number (VRN) for verification.
And place your request for Paytm FASTag Cancellation
How to Port Paytm FASTag to Another Bank or NETC
Change Paytm FASTag to Another Bank Account: Currently, there is no direct system for Fastag migration from Paytm or porting Paytm FASTag nor the FASTag Port option exists with any service provider.
If you are looking out to port fastag from paytm or to change FASTag from Paytm, Deactivate your Paytm FASTag first, and then apply for a new FASTag with banks like IDFC First, ICICI, HDFC, Axis, Bank of Baroda, Kotak, or other official FASTag providers like Airtel Payments Bank, Park Plus (by Karur Vysya Bank), etc. The process is as easy and quick as Porting FASTag from Paytm or to convert Paytm FASTag to Other Bank.
Paytm FASTag can be transferred from one Paytm Account to other Paytm account, but it cannot be transferred within different service providers of FASTag.
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