Closing Paytm Payments Bank FASTag account? Here’s how you can check and manage your Paytm FASTag status | India Business News

Paytm Payments Bank FASTag: The Reserve Bank of India (RBI) has banned Paytm Payments Bank (PPBL) from taking over new purchasers for various providers. After March 15, no new deposits, credit score transactions, or top-ups will likely be accepted for buyer accounts, pay as you go playing cards, Paytm Wallets, FASTags, NCMC playing cards, and so forth.
The National Highways Authority of India (NHAI) means that Paytm FASTag prospects ought to acquire a brand new FASTag from one other financial institution earlier than March 15.This recommendation goals to forestall penalties or further expenses throughout journey on National Highways.
According to NHAI’s advisory on March 13, 2024, buying a brand new FASTag from a special financial institution earlier than the deadline ensures a seamless journey expertise and prevents inconvenience at toll plazas. This step aligns with the RBI’s tips relating to restrictions on Paytm Payments Bank. After March 15, Paytm FASTag customers will not be capable of recharge or prime up their steadiness, however they can use their current steadiness to pay tolls past this date.
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Here’s what you must know concerning the status of your Paytm FASTag and how to manage it successfully:

Closing your Paytm FASTag account
If you’re a Paytm FASTag consumer, you should shut your account by March 15, 2024, as per the RBI directive. To do that, you’ll must deactivate your current FASTag issued by Paytm Payments Bank and acquire a brand new FASTag from one other NHAI-authorised issuer.
Avoiding penalties and further charges
The National Highways Authority of India (NHAI) advises Paytm FASTag prospects to obtain a brand new FASTag from one other financial institution earlier than the stipulated deadline to keep away from penalties or further charges whereas commuting on National Highways.
Difficulty in closing Paytm FASTag
You can not switch your Paytm Payments Bank FASTag to a different account, and there isn’t any choice to switch the credit score steadiness inside the FASTag product. Consequently, you’ll want to shut your outdated FASTag issued by Paytm Payments Bank and request a refund from the financial institution.
Once you request the closure, it usually takes 5-7 working days for the FASTag account to be closed. During this course of, any safety deposit and minimal steadiness will likely be refunded to your Paytm Payments Bank pockets.
Several customers have expressed difficulties in closing their Paytm FASTag accounts by means of social media platforms, in line with an ET report.
Checking Paytm FASTag status
To provoke the closure of your Paytm FASTag account, you can name the toll-free quantity 1800-120-4210. When contacting buyer help, present your cellular quantity related to the tag registration, together with both the Vehicle Registration Number (VRN) or Tag ID. A Paytm Payments Bank buyer help agent will then contact you to substantiate the closure of your FASTag account.
Alternatively, you can additionally increase considerations or points relating to your FASTag by means of the 24×7 assist part of the Paytm app. Simply choose the ‘Fastag’ class and select probably the most appropriate subject from the choices offered.
ALSO READ | Can Paytm prospects use their Paytm wallets after March 15? FAQs answered

Here’s how you can check your NETC FASTag status

Active Paytm FASTag
You can decide if your Paytm FASTag is lively by checking the “Manage Tags” part in your FASTag sub-wallet. If your tag is lively, will probably be displayed there.
Managing FASTag on-line
You can additionally manage your FASTag on-line by visiting the official web site of the FASTag issuer for your car. Log in to your FASTag account to check your steadiness and view your account assertion to trace earlier funds.
Paytm’s choices and updates
According to a set of FAQs launched by Paytm Payments Bank on March 14, 2024, they’re providing HDFC Bank FASTags and facilitating FASTag recharges for different partnered banks by means of the Paytm app. However, prospects can not buy Paytm Payments Bank FASTags. Nevertheless, they can recharge their Paytm Payments Bank FASTags earlier than March 15 and proceed utilizing the steadiness till it is depleted.