Reserve Bank of India (RBI) has extended the deadline for Paytm Payments Bank from February 29 to March 15.Post that Fastags issued by Paytm will not work. Users who have money in their Paytm accounts can get the same refunded in case they are not able to use it by that date.
Why deactivating Paytm Fastag is important
As per the new One Vehicle, One Fastag initiative, Fastag can only be linked to one vehicle or vice-versa. This means that to get a new Fastag, users need to get their old Fastag deactivated. Users cannot get KYC done for new Fastag unless their old Fastag is deactivated.
RBI’s FAQs on Paytm Payment Banks too clearly mentions the same. RBI has clarified that Fastags are not interoperable, hence customers will need to close PPBL accounts and seek refund. They will have to get a fresh Fastag from a different bank.
How to deactivate your Paytm Fastag account
Disclaimer: Deactivating Fastag is a permanent process and once deactivated, you cannot reactivate it. You’ll have to buy a new one.
Steps to deactivate using Paytm app
- Open Paytm app
- Tap on Profile icon (top-left corner)
- Tap Help & Support
- From “Banking Services & Payments”
- Select Fastag option
- Select the “Chat with us” option at the bottom and raise the deactivation request
Steps to deactivate using Fastag Paytm Portal
- Fastag Paytm Portal and login using your credentials
- Enter your Fastag number, registered mobile number and other necessary details for verification.
- Scroll down, click on “Help & Support” option, choose the option “I Want to Close My Fastag Profile”
How to buy a new Fastag online
You can buy a new Fastag from one of the 32 banks listed on NHAI’s website. Users can also order Fastag directly from NHAI.
Getting a new Fastag from NHAI
- Download “My FASTag” app from Google Play Store or Apple App Store
- Open the app and scroll down to “Buy Fastag” option
- It will give you Amazon and Flipkart Link to purchase the Fastag
- Activate it: In the app, tap on the Activate Fastag option → Select Amazon or Flipkart — and scan the QR code. Follow the on-screen instructions to activate.