Are you looking for the perfect electronic toll-collection solution? Dive into this comprehensive comparison between IDFC Bank FASTag and Equitas Bank FASTag to make an informed decision.
Explore their features, benefits, and advantages over traditional cash payments. Discover how these FASTags simplify your journeys and save you time at toll plazas.
IDFC Bank FASTag and Equitas Bank FASTag utilise RFID to facilitate seamless toll payment and reduce the need for cash transactions. Here's how the process works:
RFID Tag Installation: To avail of the benefits of FASTag, you need to install an RFID tag on your vehicle's windshield. The tag is a small device that contains a unique identification number linked to your vehicle's registration details.
Tag Activation and Linking: Once you have the RFID tag installed, you need to activate it by linking it to your IDFC Bank or Equitas Bank FASTag account. This can be done through the respective bank's FASTag portal or mobile app.
Prepaid Account: Both IDFC Bank and Equitas Bank FASTag operate on a prepaid account basis. You need to maintain a sufficient balance in your FASTag account to cover the toll charges.
Toll Plaza Transactions: When you approach a toll plaza, you will encounter an RFID reader installed at the toll gate. As your vehicle comes within range of the reader, it wirelessly scans the RFID tag affixed to your windshield.
Account Deduction: The RFID reader reads the unique identification number from the tag and communicates with the bank's backend system. The toll amount is then deducted from your FASTag account balance in real-time.
IDFC Bank FASTag and Equitas Bank FASTag function similarly by leveraging RFID technology. The primary difference lies in each bank's specific account management procedures and features, which can vary slightly.
One of the significant advantages of both IDFC Bank FASTag and Equitas Bank FASTag is the availability of the auto-debit feature. You can conveniently set up a recurring payment arrangement for your FASTag account by opting for auto-debit.
This ensures that your account always has sufficient balance to pay tolls automatically. It eliminates manual top-ups and provides a seamless toll payment experience during your journeys.
IDFC Bank FASTag and Equitas Bank FASTag prioritise the security of your FASTag account. They incorporate various security features to protect your account information and prevent unauthorised access. These security features include:
RFID technology: RFID is used to read the information stored on your FASTag when you pass through a toll plaza. It enables quick and accurate identification of your vehicle. It also ensures a smooth toll payment process.
PIN protection: FASTags provide PIN protection, requiring you to enter a unique personal identification number (PIN) to access your FASTag account. This adds an extra layer of security and helps prevent unauthorised access to your account.
Anti-cloning technology: IDFC Bank FASTag and Equitas Bank FASTag utilise anti-cloning technology. This technology prevents fraudulent duplication or cloning of your FASTag, ensuring that only the authentic tag linked to your vehicle is recognised and used for toll payments.
Documents required for IDFC and Equitas Bank FASTag:
Vehicle Registration Certificate (RC)
KYC documents such as PAN Card, Aadhaar Card, or Voter ID
Passport-size photograph
You can recharge your IDFC Bank FASTag or Equitas Bank FASTag account through various methods. These include Park+, net banking, debit card, credit card, and UPI.
Regarding fees, IDFC Bank FASTag and Equitas Bank FASTag have similar structures. There is a one-time issuance fee of ?100 (inclusive of GST). The security deposit for cars, jeeps, and vans is ?100, while for Tata Ace and similar mini light commercial vehicles, it is also ?100.
Additionally, there is a low balance alert fee of ?25 and a hotlist fee of ?25. The account management fee is ?20 per quarter for IDFC Bank FASTag and ?25 per quarter for Equitas Bank FASTag.
IDFC Bank FASTag and Equitas Bank FASTag offer seamless toll payment solutions, incorporating advanced technology and security features.
To experience the FASTag convenience firsthand, download the Park+ app now. With Park+, you can recharge your FASTag, track your transactions, and manage your account effortlessly.