New Delhi:

The Reserve Bank of India has shut down the Paytm Payments Bank and prohibited them from accepting new clients. After tomorrow, March 15, no new customer accounts, prepaid cards, Paytm Wallets, etc, will accept deposits, credit transactions, or top-ups, which also include FASTags. 

Paytm Bank has been one of the largest issuers of FASTags. Paytm FASTag users are urged to deactivate their accounts by tomorrow and get a new one issued from another NHAI-authorized issuer. 

The National Highways Authority of India (NHAI) has advised “Paytm FASTag users to procure a new FASTag issued by another bank before March 15, 2024. This will help in avoiding penalties or any double fee charges while commuting on National Highways.”

How to close your Paytm FASTag account

1. Visit the Paytm website or log in from the Paytm app.
2. Go to the FASTag section or search for ‘FASTag’ in the app.
3. Go to Settings > Account Management. Look for the ‘close’ or ‘deactivate your FASTag account’ option.
4. Fill in the necessary information.
5. Confirm details.
6. Once the closure request is successfully processed, you will receive a confirmation from Paytm via email or app notification, saying, “Your FASTag will be closed within 5-7 working days. Security deposit and minimum balance maintained will be refunded to your Paytm Payments Bank wallet.”

If you are unable to find the option to close your Paytm FASTag account, reach out to Paytm customer support. 

How to check Paytm FASTag status

1. Dial the Paytm support toll-free number: 1800-120-4210
2. Mention the mobile number associated with your FASTag account, along with the Registration number of the vehicle or the FASTag ID.
3. A customer support agent will connect with you to confirm the closing of your FASTag account. 

How to check if Paytm FASTag is active or not

You can check it under the “Manage Tags” section in your FASTag sub-wallet on the Paytm app or website.

Paytm FASTag users can continue to use the existing balance to pay tolls beyond the stipulated date. File
| Photo Credit: Reuters

National Highways Authority of India (NHAI) has advised Paytm FASTag users to obtain a new FASTag from another bank before March 15 to ensure a smooth travel experience and avoid inconvenience at toll plazas, an official statement said on March 13.

This will help avoid penalties or double fee charges while commuting on National Highways, as per the statement.

Following the Reserve Bank of India’s guidelines on restrictions concerning Paytm Payments Bank, the statement said Paytm FASTag users will no longer have the option to recharge or top-up their balance after March 15, 2024.

However, they can continue to use the existing balance to pay tolls beyond the stipulated date, it added.

NHAI also advised Paytm FASTag users to reach out to their respective banks or refer to the FAQs provided on the IHMCL (Indian Highway Management Company Limited) website.