In light of the Reserve Bank of India’s recent actions against Paytm Payments Bank, which include shutting it down and imposing a ban on acquiring new customers, Paytm FASTag users are now required to deactivate their existing FASTag accounts by the upcoming deadline and obtain a new FASTag from an alternative issuer approved by the National Highways Authority of India (NHAI). This directive comes as no new customer accounts, including prepaid cards, Paytm Wallets, and FASTags, will be permitted to process deposits, credit transactions, or top-ups after the specified date.
For those holding a Paytm FASTag, it’s crucial to act swiftly to ensure a smooth transition. To deactivate your Paytm FASTag account, you can either visit the Paytm website or use the Paytm app. Navigate to the FASTag section or simply search for “FASTag” within the app. Under Settings, you’ll find the option for Account Management, where you can select to close or deactivate your FASTag account. After submitting the required information and confirming the details, Paytm will process your closure request. A confirmation will be sent to you via email or app notification, indicating that your FASTag will be deactivated within 5-7 working days. Additionally, any security deposit and the minimum balance that was maintained will be refunded to your Paytm Payments Bank wallet.
If you encounter any difficulties in finding the option to deactivate your FASTag account, Paytm’s customer support is available to assist. You can check the status of your FASTag by dialing Paytm’s support toll-free number and providing the mobile number linked to your FASTag account, along with the vehicle’s registration number or the FASTag ID. This will enable a customer support agent to confirm the closure of your account.