Paytm Payments Bank crisis: How to deactivate Paytm FASTag and buy new one

In the recently released FAQs, the RBI suggested users procure a new FASTag issued by a bank other than Paytm Payments Bank before March 15

Last week, the Indian Highways Management Company Ltd (IHMCL) advised highway users to buy FASTags from 32 authorised banks and not Paytm Payments Bank (PPBL). IHMCL is the toll-collecting arm of the state-owned National Highways Authority of India (NHAI).

This followed the Reserve Bank of India's (RBI) direction for PPBL to stop accepting deposits and top-ups from any customers after February 29. This deadline was later extended to March 15. After that, Paytm FASTags will not work.

According to the frequently asked questions (FAQs) announced by the RBI last week, after March 15, users will not be able to recharge their FASTags issued by PPBL. The users will, however, be able to close their old FASTag and request for a refund.

 

"It is suggested that you procure a new FASTag issued by another bank before March 15, 2024, to avoid any inconvenience," the FAQs said.

How can I deactivate my Paytm FASTag? Check the step-by-step guide here

According to Paytm's official website, you can use your mobile number and Tag ID to close the existing Paytm FASTag account.

1. Place a call on 1800-120-4210 and mention your mobile number against which the FASTag has been registered.
2. Mention the Vehicle Registration Number (VRN) or Tag ID along with it.
3. Paytm's customer support agent will get in touch and confirm the closure of FASTag.

There is another way to close your Paytm FASTag.

1. In the Paytm app, tap on the profile icon.
2. Click on "Help & Support".
3. Now, under the "Banking Services & Payments" section, select "FASTag".
4. Click on "Chat with us" and ask the executive to deactivate the account.

READ: Paytm Payments Bank row drew fintechs' focus to compliance of laws: MoS IT

How to buy a new FASTag online?

1. Download the "My FASTag" app on your mobile phone.
2. In the app, click on "Buy FASTag"; it will show you an e-commerce link to buy the tag
3. Purchase the FASTag. It will be delivered to you.

How to activate FASTag online?

1. In the "My FASTag" app, click on "Activate FASTag".
2. Now, select Amazon or Flipkart
3. Enter the FASTag ID or scan the QR code
4. Now, enter your vehicle details, and it will be activated

FASTags can also be bought on toll plazas or member banks. The NHAI has published the list of 32 member banks that offer new FASTag on its website. It includes Airtel Payments Bank, Allahabad Bank, Bank of Baroda, HDFC Bank, ICICI Bank, IDBI Bank, Punjab National Bank, State Bank of India, and Yes Bank, among others.