If you have FASTag issued by Paytm Payments Bank, then this news is useful for you, because you will have many questions in your mind, like what will happen to FASTag after March 15, can FASTag be used or not? Can the FASTag balance in Paytm Payments Bank be refunded or not? Today we will give you all the information about this.
RBI’s ban on Paytm Payments Bank services is going to be implemented after March 15. Although this ban has been imposed only on Paytm Payments Bank, the UPI payment service will continue on your original Paytm app. Due to ban on Paytm Payments Bank, you will no longer be able to add new amount to your Paytm Fastag. However, you can use the remaining amount until it expires.
Will Paytm Fasteg balance get refund?
If you don’t want to use your remaining Paytm Fastag balance and want a refund instead, the facility to transfer balance from old Fastag to new Fastag is currently not available. However you can turn it off. Anyway after March 15 Paytm Fastag will work only on selected tolls, so Paytm itself has advised customers to get other Fastag from any other bank instead of Paytm Fastag.
How to turn off Paytm FASTag
If you want to turn off FASTag provided by your Paytm Payments Bank, you have to follow this process.
- First go to your Paytm app.
- Then go to the search bar and search for Manage FASTag.
- As soon as this section opens, you will see a list of all vehicles linked to Paytm Payments Bank Fastag.
- After this you click on Close FASTag option.
- Now select the fasttag you want to disable and disable it.
- After this you will see a confirmation message and your fastag will be closed in 5 to 7 working days.
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