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Paytm FASTag Account Deactivate: The Reserve Bank of India (RBI) has recently taken action against Paytm Payments Bank Ltd. (PPBL), directing the company to stop accepting deposits or top-ups in any customer accounts, including wallets and FASTags, after February 29, 2024. As a result, the National Highway Authority of India (NHAI) excluded Paytm Payments Bank Ltd. (PPBL) from its roster of authorised Fastag providers.
However, one can still use the Paytm FASTag account without restrictions, though the users cannot make new deposits or top-ups into their accounts after March 15, 2024, which earlier was February 29th, as per the RBI’s recent directive.
This has made it crucial to deactivate Paytm FASTag to comply with the new ‘One Vehicle, One FASTag’ policy, which mandates that it can be linked to only one vehicle and vice versa. To obtain a new Fastag for a different vehicle, it is necessary to deactivate the existing Fastag linked to the old vehicle, as without it, the KYC process for a new one cannot be completed.
The Reserve Bank of India (RBI) has also emphasised in its FAQs on Paytm Payment Banks that FASTags are not interchangeable between vehicles, and customers must close their PPBL accounts and request a refund before obtaining a new one from a different bank. This will ensure a smooth transition and compliance with regulatory requirements.
Below is a comprehensive guide covering all aspects, from deactivating your Paytm FASTag account to applying for a new one.
To deactivate a FASTag account, one must be aware that it is a permanent procedure and cannot be reactivated. Here are the steps to deactivate a Paytm FASTag account:
Step 1: Log in to your Paytm account.
Step 2: Search for FASTag and select Manage FASTag.
Step 3: Choose the ‘Help & Support’ option.
Step 4: Select ‘Need help with on-order related queries?’.
Step 5: Choose ‘Queries related to updating the FASTag profile’.
Step 6: Select ‘I want to close my FASTag’ and follow the steps provided.
Remember, once deactivated, a FASTag account cannot be reactivated, necessitating the purchase of a new FASTag account.
As per RBI’s recent directive, FASTags issued by Paytm won’t be allowed to function after March 15th, 2024. As users must buy a new FASTag post deactivation, they can purchase from the 32 banks listed on NHAI’s website or order directly from NHAI’s official website. Below is a step-by-step guide on how one can get a new FASTag from NHAI.
Step 1: Download the “My FASTag” app from the Google Play Store or Apple App Store.
Step 2: Open the app and scroll down to the “Buy FASTag” option.
Step 3: It will provide you with Amazon and Flipkart links to purchase the FASTag.
Step 4: Select Amazon or Flipkart, tap on the Activate FASTag option in the app, and scan the QR code.
Step 5: Follow the on-screen instructions to complete the activation process
