Are you still using Paytm FASTag? Here is a step by step guide to migrate to a new FASTag | Top Vip News

In a recent move, the Reserve Bank of India (RBI) directed Paytm Payments Bank Ltd. (PPBL) to stop accepting deposits or top-ups to any customer accounts, including wallets and FASTags, after February 29 2024. As PPBL did not follow the service level agreement guidelines, the Indian Highways Management Company (IHMCL), a division of the National Highways Authority of India (NHAI), prohibited PPBL from issuing new FASTags.

NHAI suggests users to purchase FASTags from the 32 banks that are now on the authorized list for issuing FASTag. The final deadline has been brought forward to March 15; after that, Paytm FASTags cannot be used. However, consumers will have the option to close their old FASTag and get a refund as per the frequently asked questions (FAQs) that have been put forward by the RBI.

If this worries you, you may be looking for instructions on how to switch banks or deactivate your FASTag. Below is a step by step method to port or deactivate FASTag.

Steps for deactivation:

• Enter your User ID or Wallet ID along with your password to access the FASTag Paytm interface.
• For verification, provide the required information including your registered phone number and FASTag number.
• Go to the Service Request area of ​​the portal or use the 24/7 support section of the Paytm app and choose ‘The FASTag’ category.
• Please clearly indicate that you want to deactivate your FASTag and adhere to the guidelines provided. More data may be required for processing.
• Start the process of creating a service request and, for future reference, keep a note of the complaint or reference number provided. If you do not receive the deactivation confirmation from Paytm within the allotted time, follow up with them.
• Select ‘Closing Request’ as the request type to close the RFID tag or wallet linked to your account. Once deactivated, the same FASTag cannot be reactivated.

Steps for portability:

Contact the customer service department of the new bank and follow their instructions. This could involve completing an application, submitting required documentation, and paying a portability fee. Your new bank will send you a confirmation message when your transfer request is approved. You can start using your FASTag with the new bank account.

Before taking any decision, it is important to note that Paytm’s parent company One97 Communications (OCL) has assured its customers that the RBI restrictions do not affect users’ deposits in their savings accounts, wallets, FASTags and NCMC accounts. These balances can still be used. The company is working closely with regulators to comply with directives and address concerns promptly.

OCL and PPSL would transfer the nodal to different banks during this time, according to Paytm. To provide its customers with a variety of payment options, OCL plans to establish partnerships with other banks.

Make sure you know how much money is in your Paytm FASTag wallet before selecting whether to transfer or deactivate your FASTag.

You can follow these steps to purchase a new FASTag online:

1. Download ‘My FASTag’ app.
2. Click on ‘Buy FASTag’ to be directed to an e-commerce link.
3. Buy FASTag and we will deliver it to you.

Or you can follow these steps:

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