Paytm FASTag port: If you are a Paytm fastag user then you must know that RBI has placed restrictions on Paytm Payments Bank, preventing it from accepting deposits or top-ups. What should Paytm FASTag users do now? Is Paytm fastag valid after 29 February 2024? if not, then the question arises How to port Paytm fastag to another bank? All these questions and answers you will get in this article so stay tuned till the end of the post.
How to port Paytm fastag?
The National Highway Authority of India (NHAI) has excluded Paytm Payments Bank from its list of 32 authorized banks for its services due to regulatory actions by the Reserve Bank of India against the company.
Among the authorized banks are 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.
This decision follows RBI’s imposition of restrictions on Paytm Payments Bank, preventing it from accepting deposits or top-ups.
What did Paytm FASTag users do now?
Paytm FASTag users with a balance in their accounts can continue to use it even after February 29. However, they won’t be able to add money or make top-ups after this date.
Paytm clarified, “Please note that you cannot deposit or add money to your Paytm Payments Bank Account/Wallet after Feb 29, 2024. However, there is no restriction on withdrawing money from your existing balance even after Feb 29, 2024.”
How to delete/close Paytm FASTAG accounts?
To delete or close your Paytm FASTag account with Paytm Payments Bank, follow these steps:
- Log in to the FASTag Paytm Portal using your user ID, wallet ID, and password.
- Click on ‘Help & Support.’
- Select ‘Queries Related to Updating FASTag Profile’.
- Choose ‘I Want to Close My FASTag’.
How do you port to another provider?
To port Paytm FASTag to another provider, you should reach out to the customer service of the new bank. Provide them with the necessary details to begin the porting process.