The RBI’s regulatory constraints have caused concerns about the Paytm FASTag, a cashless toll payment solution. Users are unsure about their FASTag wallet balance and the service’s viability. Learn how to deactivate or port your Paytm FASTag.
The RBI’s recent regulatory restrictions have hampered Paytm’s FASTag, a cashless toll payment option. Many users worry about their Paytm FASTag wallet balance and the service’s sustainability.
You may be wondering how to deactivate or move your FASTag to another bank. Find out how to port or deactivate FASTag.
Deactivation
Log in to FASTag Paytm with your user or wallet ID and password.
For verification, provide your FASTag and registered cellphone number.
Choose ‘The FASTag’ from the Service Request part of the portal or the 24*7 assistance area of your Paytm app.
Say you want to deactivate your FASTag and follow the procedures. Processing may require more data.
Create a service request and record the complaint or reference number for future reference. If Paytm doesn't confirm deactivation within the stipulated time, contact them.
Select “Closure Request” to close your account's RFID tag or wallet.Reactivating a deactivated FASTag is impossible.
Porting
Follow these procedures to port your Paytm FASTag to another bank:
Contact the new bank’s customer service and follow their instructions. This may require an application, papers, and a porting charge. After your porting request is approved, the new bank will confirm. You can utilize FASTag with the new bank account.
Be aware that Paytm’s parent firm, One97 Communications (OCL), has assured users that RBI limitations do not affect savings, wallet, FASTag, and NCMC account deposits. Balances are still usable. The company works with regulators to comply and address issues quickly.
OCL and PPSL would relocate the nodal to other banks, said Paytm. OCL will work with other banks to offer clients payment products.
Before deactivating or porting your Paytm FASTag, check your wallet amount.
Conclusion
Paytm FASTag customers worry about their wallet balance and the service’s survival because to RBI regulations. Log in to FASTag Paytm and input details to deactivate or transfer your FASTag. Follow the procedures and contact Paytm if you don’t hear back. To port your FASTag to another bank, contact customer service and follow their instructions. One97 Communications, Paytm’s parent firm, pledged to protect user deposits in savings accounts, wallets, FASTags, and NCMC accounts from RBI limitations. The company will offer payment products and engage with regulators to address issues.
