How to Transfer Paytm FASTag to a Different Account?


how to transfer paytm fastag?

FASTag has revolutionized the way toll payments are made on Indian highways, providing convenience and efficiency to millions of commuters. However, situations may arise where you need to transfer your Paytm FASTag to a different account. This guide provides a step-by-step walkthrough on how to seamlessly transfer your Paytm FASTag to another account.

The Reserve Bank of India (RBI) has recently announced a significant change regarding the recharge of Paytm FASTag, effective post-March 15, 2024.

In a released frequently asked question (FAQ), the RBI clarified that after this date, it will no longer be possible to top-up or recharge FASTags issued by Paytm Payments Bank. To preempt any inconvenience, individuals are advised to obtain a new FASTag from a different bank before the stipulated deadline. This regulatory adjustment underscores the importance of timely action for users reliant on Paytm FASTags, ensuring seamless continuation of toll payment services beyond the specified date.

Check TOI’s news here.

Check RBI’s FAQ here.

The Reserve Bank of India (RBI) said, “After March 15, 2024, you will not be able to top-up or recharge your FASTag issued by Paytm Payments Bank. It is suggested that you procure a new FASTag issued by another bank before March 15, 2024, to avoid any inconvenience.”

Steps to Transfer Paytm FASTag

First, you must close your Paytm FASTag and then open a new FASTag account from different provider because only one FASTag must be active for a vehicle!

Step 1: Open the Paytm App

Begin by unlocking your smartphone and launching the Paytm app. If you haven’t installed it yet, you can download it from your respective app store.

Step 2: Navigate to Wallets

Once you’re in the Paytm app, locate the wallets icon and tap on it. This will take you to the section where you can manage your Paytm Wallet and other related services.paytm click on wallet to access fastag wallet

Step 3: Access Help & Support

Scroll through the options available in the Paytm Wallet section and find “Help & Support.” Tap on this option to proceed.Select help & support for paytm fastag closure

Step 4: Initiate Chat

In the Help & Support section, you’ll find a list of older FASTag transactions. Scroll down to the bottom of the page and select “Chat with Us.”

Step 5: Request FASTag Closure

Once you’ve initiated the chat, a list of options will appear. Choose “I want to close my FASTag” to proceed with the transfer process.paytm fastag close initiate - no transfer allowed

Step 6: Confirm Closure

After selecting the closure option, you’ll be presented with another list of choices. From this list, select “Close FASTag” to confirm your request.

paytm fastag close request

Step 7: Confirmation Message

Upon successful submission of your request, you’ll receive a confirmation message stating, “Request successful.” This message indicates that your FASTag closure request has been received, and your FASTag will be marked as inactive within 5-7 working days.Image shows fastag successful closure request

Step 8: Await Refund Processing

You’ll also receive an SMS to your registered mobile number confirming the closure initiation. The message will mention the date of closure initiation and inform you that the refund will be processed within 7-10 working days.fastag sms

Step 9: Register a New FASTag Account

While your current FASTag account is being closed, you can proceed to register a new FASTag account for your vehicle. This can be done through various banks in India, such as HDFC, ICICI, or SBI.

Applying for a New FASTag – Where to Apply?

Depending on your preference and convenience, you can apply for a new FASTag online through the bank’s website or by visiting the bank branch. Ensure to provide all the necessary details and complete the payment process.

  • Applying for a new FASTag with HDFC Bank offers a seamless experience.
  • Their online application process streamlines the procedure, allowing users to conveniently input their vehicle and personal details.
  • Once the online form is completed and payment is made, HDFC Bank ensures rapid activation, typically within minutes.
  • Moreover, they prioritize customer satisfaction by dispatching the FASTag sticker promptly, usually within 2-3 days, to the applicant’s provided address.
  • This efficiency and attention to detail make HDFC Bank a preferred choice for those seeking a hassle-free FASTag registration process.

Other banks: icici FASTag, SBI FASTag, IHMCL FASTag (from our Indian government)

Transferring your Paytm FASTag to a different account may seem daunting at first, but by following these step-by-step instructions, you can smoothly navigate through the process.

Remember to initiate the closure of your current FASTag account, await the refund processing, and promptly register for a new FASTag account to ensure uninterrupted toll payments.