Paytm Fastag - Know How to Close Paytm FASTag

With millions of FASTags zipping across Indian highways (over 7.6 crore active in September 2023 according to NETC statistics), ensuring a smooth toll payment experience is crucial. According to Section 35A of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) recently restricted Paytm Payments Bank Limited (PPBL) from onboarding new customers. This means PPBL can no longer open new accounts. 

Is your Paytm FASTag linked to your Paytm Payments Bank account? With the recent changes implemented by the RBI, you might need to deactivate your FASTag and get a new one from another authorised issuer. 

This blog will show you how to easily close your Paytm FASTag account. Don't worry, the process is simple and can be done through the Paytm app or by contacting customer care. Let's ensure a smooth transition for your toll payments on highways!

Why Deactivate Your Paytm FASTag and Get a New One

Paytm FASTag is a convenient electronic toll collection system that automatically deducts tolls while you drive on highways. It links directly to your Paytm wallet for seamless transactions. However, recent regulatory changes have made it necessary for users to deactivate their Paytm FASTags issued by Paytm Payments Bank (PPBL).

This restriction applies to all PPBL accounts, including FASTags. This means that even if you have a balance in your PPBL FASTag, you won't be able to add more funds after the deadline.

Here's why deactivating your PPBL FASTag and getting a new one is important:

Also Read : Here's How to Recharge and Check Fastag Balance

Ensured Functionality

• To avoid any inconvenience at toll plazas, it's crucial to have a FASTag that can receive top-ups
• With PPBL FASTags being restricted, deactivating and getting a new one from another authorised issuer ensures your FASTag remains functional

Peace of Mind

• Deactivating your PPBL FASTag eliminates any concerns about unexpected charges or limitations associated with restricted accounts

Smooth Transition

• By proactively deactivating your PPBL FASTag before March 15, 2024, you have ample time to acquire a new FASTag from another provider and avoid any disruptions during your highway travels

Remember, deactivating your PPBL FASTag is a permanent process. There's no option to reactivate it. But don't worry, the steps to deactivate your FASTag and get a new one are simple and explained in detail in the following sections.

Also Read : How to Activate FASTag Online

Preparation Before Closing Your Paytm FASTag Account

Before closing your Paytm FASTag account, here's what you need to ensure:

Maintain Sufficient Balance

• Ensure there are no outstanding toll charges on your FASTag account
• You can check the balance within the Paytm app or online portal

Gather Information

• Keep your registered mobile number for the FASTag and vehicle registration number (VRN) handy
• These will be required during the closure process

Steps to Close Your Paytm FASTag Account

Here's a detailed guide on how to deactivate your Paytm FASTag account through the Paytm app:

• Step 1: Open the Paytm app and log in using your registered credentials
• Step 2: Search for "FASTag" in the search bar at the top of the app
• Step 3: Select "Manage FASTag," which might be found within the "Services" section
• Step 4: If you have multiple FASTags linked to your account, select the specific one you want to close
• Step 5: You might not see a direct "Close FASTag" option here. Don't worry, proceed to the next step
• Step 6: Scroll down to the bottom of the page and tap on "Help & Support"
• Step 7: Choose "Need help with non-order related queries" (this might activate a chat interface)
• Step 8: Look for the option that says "I want to close my FASTag" and confirm your selection
• Step 9: Select the FASTag account you want to deactivate and choose a reason for closure from the available options
• Step 10: You might see a confirmation message about your remaining balance being refunded (subject to Paytm's terms and conditions)

Important Note:

• It's recommended to note down the reference number provided by Paytm during the closure process for future reference
• Processing time for closure might take up to 5-7 business days

Alternative Method: Contacting Paytm Customer Care

• If you're unable to close your FASTag through the app, you can also contact Paytm customer care by calling their toll-free number: 1800-120-4210
• Be prepared to provide your registered mobile number for the FASTag account and vehicle registration number (VRN) or FASTag ID when prompted
• A customer service representative will assist you with the closure process
• Once confirmed, your FASTag account will be deactivated, and any remaining balance will be refunded (subject to Paytm's terms and conditions)

FAQs

Q. Can I close my Paytm FASTag account online?

Yes, you can close your Paytm FASTag account through the Paytm app by following the steps mentioned in the blog.

Q. Are there any fees associated with closing my Paytm FASTag account?

As per the information available, there are no specific fees mentioned for closing your Paytm FASTag account. However, you can always check the latest terms and conditions on the Paytm website or app for any updates on potential charges.

Q. Will I receive a refund for the remaining balance in my Paytm FASTag wallet upon closure?

Yes, you are eligible for a refund once you decide to close your Paytm FASTag account. 

Q. How long does it take to close a Paytm FASTag account?

The processing time for closing a Paytm FASTag account might take up to 5-7 business days.

Q. Will closing my Paytm FASTag account affect my linked bank account or other Paytm services?

No, closing your Paytm FASTag account should not affect your linked bank account or other Paytm services like your wallet or investments.