After the Reserve Financial institution of India (RBI) ordered the closure of the operations of Funds Funds Financial institution, Paytm customers are tensed and confused about whether or not the providers linked to Paytm Funds Financial institution, just like the Pockets, FASTag, and NCMC card, would proceed to work or not. On this learn, we’ll reply questions like, do it’s essential to give up your FASTag? Will it cease working? How are you going to deactivate your FASTag? and extra.
Will My Paytm FASTag Mechanically Cease After twenty ninth February?
The straightforward reply to this query is “No,” your Paytm FASTag is not going to cease working; it is going to proceed to work on the toll plaza. You can proceed to make use of your FASTag to pay toll fares as much as the accessible steadiness in your FASTag. Nevertheless, you gained’t have the ability to add funds or do top-ups within the FASTags issued by Paytm Funds Financial institution after March 15, 2024.
Additionally, to facilitate the providers to their present prospects, Paytm has partnered with a number of banks, like Axis Financial institution, HDFC Financial institution, and many others., emigrate the fee mannequin from Paytm Funds Financial institution to different banks.
How Can You Port Your Paytm FASTag to One other Financial institution?
Whereas there’s no choice to port your present Paytm FastTag from Paytm Funds Financial institution to a different financial institution, we reached out to Paytm buyer assist, they usually requested us to get a brand new FASTag, which will likely be issued by HDFC financial institution as an alternative of the sooner Paytm Funds Financial institution. Right here’s how one can get a brand new FASTag.
1. Launch the Paytm app (Google Play Store, Apple App Store) in your cellphone.
2. Search Fastag and faucet on the “Handle FastTag” choice.
3. Faucet on “Proceed to Purchase HDFC FASTag” to proceed.
4. Right here, faucet the “Purchase New FASTag” choice on the prime proper nook of the display.
5. Now, fill within the type particulars, together with your Date of Start, PAN card quantity, Car registration quantity, and many others.
6. After filling within the particulars, faucet “Purchase Now” and full ₹250 utilizing your Pockets, UPI, or Card.
After getting the brand new FASTag, go to the “Assist” part and ask the client assist staff to shut down your earlier FASTag.
FAQs
Q. What Ought to You Do if the Paytm FASTag Is Not Working?
After March 15, 2024, you gained’t have the ability to recharge your Paytm FASTag. Nevertheless, you possibly can proceed to pay the toll prices from the accessible steadiness. When you can not pay through the Paytm FASTag, it’s best to contact buyer assist on the toll-free quantity 1800-120-4210, and they’re going to help you in elevating the problem with the related authority.
Q. How Can I Port My Paytm FASTag to One other Account?
No, there isn’t a choice to port your present Paytm FASTag to a different account. Nevertheless, the current partnership between Axis Financial institution and Paytm and the shift of its nodal account to Axis Financial institution hints that Axis Financial institution will even deal with the FASTag services for present prospects.
Q. Will Paytm Challenge a New FASTag to Their Customers?
No, Paytm is not going to problem a brand new FASTag to their customers, as the prevailing one can be utilized to pay the toll prices as much as the accessible steadiness. Since customers gained’t have the ability to add steadiness or top-up their FASTags, as soon as the steadiness exhausts, they must purchase a brand new one from the app, which HDFC Financial institution will problem.
Wrapping Up
The Paytm Funds Financial institution will proceed to function till twenty ninth February 2024, so you possibly can entry all its providers and use your FASTag linked to your Cost to pay toll prices till it has an satisfactory steadiness. After that, you should get a brand new FASTag, which HDFC Financial institution will handle. Nevertheless, there’s a risk that even HDFC or Axis Financial institution may take over the prevailing FASTag prospects, so they won’t need to get a brand new FASTag. However that’s our instinct primarily based on the present market and up to date partnerships performed by Paytm, so take it with a pinch of salt.
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