Closing Paytm Funds Financial institution FASTag account? Right here’s how one can verify and handle your Paytm FASTag standing | India Enterprise Information

Paytm Funds Financial institution FASTag: The Reserve Financial institution of India (RBI) has banned Paytm Funds Financial institution (PPBL) from taking up new purchasers for various providers. After March 15, no new deposits, credit score transactions, or top-ups will probably be accepted for buyer accounts, pay as you go playing cards, Paytm Wallets, FASTags, NCMC playing cards, and so on.The Nationwide Highways Authority of India (NHAI) means that Paytm FASTag clients ought to get hold of a brand new FASTag from one other financial institution earlier than March 15.This recommendation goals to stop penalties or further prices throughout journey on Nationwide Highways. In response to NHAI’s advisory on March 13, 2024, buying a brand new FASTag from a distinct financial institution earlier than the deadline ensures a seamless journey expertise and prevents inconvenience at toll plazas. This step aligns with the RBI’s pointers concerning restrictions on Paytm Funds Financial institution. After March 15, Paytm FASTag customers will not be capable of recharge or high up their steadiness, however they will use their current steadiness to pay tolls past this date.ALSO READ |Paytm Funds Financial institution faces workers discount; 20% workforce to be impacted: ReportHere’s what it is advisable to know in regards to the standing of your Paytm FASTag and easy methods to handle it successfully:Closing your Paytm FASTag accountIf you are a Paytm FASTag person, you could shut your account by March 15, 2024, as per the RBI directive. To do that, you may have to deactivate your current FASTag issued by Paytm Funds Financial institution and acquire a brand new FASTag from one other NHAI-authorised issuer.Avoiding penalties and extra feesThe Nationwide Highways Authority of India (NHAI) advises Paytm FASTag clients to obtain a brand new FASTag from one other financial institution earlier than the stipulated deadline to keep away from penalties or extra charges whereas commuting on Nationwide Highways.Problem in closing Paytm FASTagYou can’t switch your Paytm Funds Financial institution FASTag to a different account, and there isn’t any choice to switch the credit score steadiness throughout the FASTag product. Consequently, you may want to shut your previous FASTag issued by Paytm Funds Financial institution and request a refund from the financial institution.When you request the closure, it usually takes 5-7 working days for the FASTag account to be closed. Throughout this course of, any safety deposit and minimal steadiness will probably be refunded to your Paytm Funds Financial institution pockets.A number of customers have expressed difficulties in closing their Paytm FASTag accounts via social media platforms, in line with an ET report.Checking Paytm FASTag statusTo provoke the closure of your Paytm FASTag account, you possibly can name the toll-free quantity 1800-120-4210. When contacting buyer help, present your cell quantity related to the tag registration, together with both the Car Registration Quantity (VRN) or Tag ID. A Paytm Funds Financial institution buyer help agent will then contact you to substantiate the closure of your FASTag account.Alternatively, you can too elevate considerations or points concerning your FASTag via the 24×7 assist part of the Paytm app. Merely choose the ‘Fastag’ class and select essentially the most appropriate problem from the choices offered.ALSO READ | Can Paytm clients use their Paytm wallets after March 15? FAQs answeredHere’s how one can verify your NETC FASTag statusGo to the web site: ( your most popular search choice: both “Search by FASTag ID” or “Search by Vehicle.”Enter the Captcha code offered.Click on on the “Check Status” button.Energetic Paytm FASTag You possibly can decide in case your Paytm FASTag is lively by checking the “Manage Tags” part in your FASTag sub-wallet. In case your tag is lively, it is going to be displayed there.Managing FASTag onlineYou may handle your FASTag on-line by visiting the official web site of the FASTag issuer on your car. Log in to your FASTag account to verify your steadiness and look at your account assertion to trace earlier funds.Paytm’s choices and updatesAccording to a set of FAQs launched by Paytm Funds Financial institution on March 14, 2024, they’re providing HDFC Financial institution FASTags and facilitating FASTag recharges for different partnered banks via the Paytm app. Nonetheless, clients can’t buy Paytm Funds Financial institution FASTags. Nonetheless, they will recharge their Paytm Funds Financial institution FASTags earlier than March 15 and proceed utilizing the steadiness till it is depleted.

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