Paytm FASTag port: The National Highway Authority of India (NHAI) has not included Paytm Payments Bank in its list of 32 authorised banks for the service after regulatory actions by the Reserve Bank of India against the company.
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The list of authorised banks include Airtel Payments Bank, Allahabad Bank, AU Small Finance Bank, Axis Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, Central Bank of India, City Union Bank, Cosmos Bank, Equitas Small Finance Bank, and Federal Bank, among others.
This comes as RBI imposed restrictions on Paytm Payments Bank, barring it from accepting deposits or top-ups.
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What should Paytm FASTag users do now?
Paytm FASTag users who have balance in their accounts can use it after February 29 as well but won’t be able to add money or make top-ups.
Paytm said, “Please note that you will not be able to deposit or add money to your Paytm Payments Bank Account/Wallet after Feb 29, 2024. However, there is no restriction on withdrawal of money from your existing balance even after Feb 29, 2024.”
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How to delete FASTAG accounts?
Users will have delete their accounts with Paytm Payments Bank in order to create new accounts.
Here are the steps to delete the FASTag account:
1. Log in to the FASTag Paytm Portal using user ID, wallet ID and password.
2. Click on ‘Help & Support.’
3. Select ‘Queries Related to Updating FASTag Profile’.
4. Choose ‘I Want to Close My FASTag‘.
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How to port to another provider?
To port FASTag from Paytm to another provider, contact the new bank’s customer care. Share details and then initiate the porting process.
