Recently, RBI has intervened Paytm Payments Bank Ltd. (PPBL) to receive deposits or top-ups in any customer accounts, may it be wallets or FASTag, post the February 29, 2024. PPBL was also removed from the authorized list of FASTag providers by the National Highway Authority of India (NHAI).
Though the existing Paytm FASTag accounts can be utilized until the funds deplete without limitations, new funds or top-ups cannot be added post March 15, 2024, which was a revised date by RBI.
This leads to the new ‘One Vehicle, One FASTag’ policy, which stipulates linking it to a single vehicle only. As per the KYC process, it is necessary to deactivate the current FASTag to link new FASTag.
It has been reiterated in RBI FAQs related to Paytm Payment Banks that FASTags are non-transferable between vehicles and hence it is necessary for the customers to close their PPBL accounts and also seek a refund before obtaining a new one from a different bank to ensure regulatory compliance.
Below is the comprehensive guide covering all aspects from deactivating your Paytm FASTag account to applying for a new one.
Deactivating a Paytm FASTag account:
Notably, deactivation of the account is permanent and irreversible and hence the purchase of a new one post deactivation.
Follow these steps to deactivate the FASTag account:
- Log in to your Paytm account.
- Navigate to FASTag and select Manage FASTag.
- Opt for ‘Help & Support’.
- Choose ‘Queries related to updating the FASTag profile’.
- Select ‘I want to close my FASTag’ and follow the steps provided.
Getting a new FASTag:
As per the directive of RBI, new FASTag must be purchased only from the 32 banks listed on NHAI’s website or directly from NHAI’s official website. Follow these steps to get a new FASTag account:
- Download the “My FASTag” app from Google Play Store or Apple App Store.
- Select the “Buy FASTag” option.
- Choose Amazon or Flipkart links provided in the app to make the purchase.
- Tap on the Activate FASTag option, scan the QR code, and follow the instructions to complete the activation process.
Official URLs provided by NHAI
- Airtel Payments Bank https://www.airtel.in/bank/fastag-pay-toll-online/buy
- AU Small Finance Bank https://www.aubank.in/personal-banking/digital-banking/payments/fastag
- Axis Bank https://fastag.axisbank.co.in/CEBAWEB/Default.aspx
- Bank of Maharashtra https://www.bankofmaharashtra.in/netc-fastag
- Canara Bank https://canarites.canarabankdigi.in/Fastag/
- Central Bank of India https://www.ostaapp.com/fastag/cbi
- Federal Bank https://netcfastag.federalbank.co.in/
- HDFC https://apply.hdfcbank.com/digital/fastag
- IDBI Bank https://www.idbibank.in/fastag.aspx
- IDFC First Bank https://www.idfcfirstbank.com/personal-banking/fastag
- IndusInd Bank https://fastag.indusind.com/Account/CreateNewUser?NeutralTag=0#cbs_step-1
- Kotak Mahindra Bank https://fastag.kotak.com/SR/#/?Source=NPCI
- Saraswat Co-operative Bank https://www.saraswatbank.com/content.aspx?id=National-Electronic-Toll-Collection-NETC
- South Indian Bank https://fastag.southindianbank.com/NETCPortal/getCustOnboard
- State Bank of India https://fastag.onlinesbi.com/Home
- UCO Bank https://www.ucobank.com/en/netc-fastag
- Union Bank of India https://www.unionbankofindia.co.in/english/netc-issuer.aspx
- Yes Bank Ltd https://www.yesbank.in/digital-banking/fastag
