Paying road tolls has been made convenient with Paytm FASTag. Still, the recent regulatory restrictions imposed by the Reserve Bank of India (RBI) on Paytm services have raised concerns among many users.
So, if you are puzzled about your Paytm FASTag wallet balance, here’s everything you need to know about deactivating and porting your FASTag.
Paytm FASTag allows you to move freely through toll plazas without stopping for cash transactions. The balance in your Wallet is automatically deducted each time you pass through a toll. However, keeping track of the exact balance can sometimes get confusing.
You can generally follow these steps to deactivate your FASTag issued by Paytm. Remember that once deactivated, you cannot reactivate the same FASTag again.
Log in to the FASTag Paytm portal: Sign in to the FASTag portal using your User ID or Wallet ID and password.
Access service requests: Provide the necessary details like your FASTag number, registered mobile number, and any other information they may require for verification.
Navigate to the Service Request section within the portal. You can raise a closure request from the 24*7 help section of your Paytm app by selecting the ‘The FASTag’ category.
Request deactivation: Clearly state that you want to deactivate your FASTag. Follow the instructions given to you. They may ask for additional information or guide you through the process.
Generate service request: Initiate the creation of a service request. Keep a record of the complaint or reference number provided by customer support for future reference. Follow up with Paytm if you do not receive deactivation confirmation within the stipulated time.
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Specify closure request: Within the service request options, choose “Closure Request” as the request type to close either the RFID Tag or the Wallet associated with your account.
On the other hand, porting is transferring your FASTag from Paytm to another bank. This could be valuable if you decide to switch from Paytm to another FASTag issuer. To port, call the customer care of the new bank and follow their instructions.
However, in a statement, Paytm’s parent company, One97 Communications (OCL), said the company has been informed that this does not impact user deposits in their savings accounts, Wallets, FASTags, and NCMC accounts, where they can continue to use the existing balances. Further, the PPBL was taking immediate steps to comply with RBI directions, including working with the regulator to address their concerns as quickly as possible.
“OCL, as a payments company, works with various banks (not just Paytm Payments Bank), on various payments products. OCL started to work with other banks since the start of the embargo. We will now accelerate the plans and completely move to other bank partners,” Paytm said.
“With regard to the direction on termination of nodal account of OCL and Paytm Payments Services Limited (PPSL) by February 29, 2024, OCL and PPSL will move the nodal to other banks during this period. OCL will pursue partnerships with various other banks, to offer various payment products to its customers,” it added.
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Therefore, before deciding to either deactivate or port your FASTag, take a moment to consider the convenience it offers. With a FASTag, you don’t have to carry around cash and wait in long lines at toll plazas. It brings ease of travel, saves you time, and contributes to a more efficient overall journey. So, if you’re confused about your Paytm FASTag wallet balance, double-check first, then decide to either deactivate or port your FASTag.
