FASTag KYC, or Know Your Customer, is the process of identifying and verifying the identity of the vehicle’s ownership. It is important to ensure that the FASTag is issued for the correct vehicle and can be used legally.
To be noted, KYC of FASTag is important for FASTag accounts - both new and old ones, irrespective of the fact, if you have buy FASTag online or offline. In this blog, we will look at all the details relating to the KYC process, the methods of completing the FASTag, tracking its status and much more.
Why Update FASTag KYC?
Before we jump ahead to learn how to do KYC for FASTag, what’s more important is to understand why one should get their KYC done.
FASTag KYC is important and beneficial for the following reasons:
Identity Verification: With the FASTag KYC update, banks or the issuing body verify the identity of the FASTag holder to ensure that the account holder is legitimate and to maintain separate data about the same.
Regulatory Compliance: As per the Government regulations for the financial institutions and the FASTag issuing body, it is mandatory to get the KYC done.
Secure Transactions/Payments: FASTag KYC ensures that the payments made are secure and legitimate, not only from the financial institutions' end, but also from the user’s point of view.
Fraud Prevention: FASTag KYC update makes the transactions secure and legitimate, which, in turn, helps in fraud prevention, making the FASTag usage more transparent and reliable.
Smooth Travels: A verified FASTag user experiences smooth journeys across the tolls and doesn’t face any hassle on the way.
With the FASTag KYC update, travelers can avail of the above-mentioned benefits along with making their transactions secure.
General documents required for FASTag KYC update online
The general documents required for the smooth update of the FASTag KYC are:
Identity and Address Proof, such as:
Aadhar Card
Passport
Voter ID
PAN Card
Driving License
Passport-size Photograph
Vehicle Registration Certificate (R.C.)
How to do KYC for FASTag?
The KYC for FASTag can be done through two methods - online and offline. FASTag holders, depending on their preference and suitability, can opt for either of the following methods.
Online
Through the FASTag Portal
Through the Bank’s or Issuer’s Website
Offline
By Visiting the Issuing Bank Branch
By visiting the kiosks of the FASTag Provider
How to update FASTag KYC Online?
In the modern era, where everything has become digitalized, a lot of people prefer updating their KYC status through online means, without stepping out of their homes.
To complete the FASTag KYC either through the issuing Bank’s portal or through the online FASTag portal, take the following actions:
Visit the Bank’s Online portal
Access the account by providing the FASTag KYC login details
Go to “My Profile”> “FASTag KYC”
Select the type of KYC - “Full KYC” or “Minimum KYC”
Upload the clear copies of the required documents
Submit the documents uploaded and review all the details
The user will then get notified about the FASTag KYC update through an SMS or email. Further, you can check the status of your FASTag KYC through the “My Profile” section.
How to update FASTag KYC Status Offline?
If you are looking for alternate ways for FASTag KYC update, you can choose the offline way. Under this, FASTag service users need to make a physical visit to the Bank or the kiosks.
Below are the complete steps involved in the offline process of updating the KYC.
Visit the Bank branch or the kiosks.
Carry all the required documents with you, like your identity, address proof, etc.
Get the FASTag KYC Update Form from the representative.
Fill the form correctly and submit it along with all the necessary documents.
The bank or kiosks will then perform the verification process.
After successful verification, your FASTag KYC will get updated.
You’ll then receive the confirmation message via email or SMS.
How to know if the KYC of FASTag is incomplete?
If in case your FASTag KYC update status is incomplete, the same will be notified over email or via SMS by the issuing body. At times, the issuing bank sends a notification about incomplete KYC through its mobile app as well.
Alternatively, many banks and IHMCL provide individuals to check the status of their FASTag by visiting their app or portal and entering the FASTag KYC login details.
Lastly, you can visit the bank or the issuing body in person and get an update about the FASTag KYC status.
Further, it is recommended to keep an eye on the channels registered with the issuing body or bank to avoid hassle due to incomplete KYC.
Benefits of FASTag KYC update
Offline or online FASTag KYC update benefits users in getting an array of benefits, out of which some are:
Higher Recharge Limit: Users with updated FASTag KYC can avail the benefit of higher recharge limits as compared to those with incomplete KYC. However, the recharge limit vary depending on the FASTag issuing bank or provider.
Fraud Prevention: KYC update ensures that the transactions made are secure and legitimate, promoting fraud prevention.
Smooth Journeys: With the FASTag KYC update, users can travel across the nation seamlessly.
Impact of not getting the FASTag KYC update
The non-completion of FASTag KYC might bring some unfavorable consequences, out of which the most probable ones are:
Blacklisting or Deactivation of FASTag: FASTag with incomplete KYC might get blacklisted by the issuing body. To avoid this situation, try to get the KYC done as soon as you get notified about it.
Trouble in FASTag Recharge: With incomplete KYC, you might face trouble not only in FASTag online recharge but also in offline recharge as well. To eradicate this, get the KYC done at the earliest.
Imposition of Penalties: Non-completion of FASTag at times result in getting penalized.
Regulatory Issues: As per the government's regulations, it is mandatory to get the KYC done, else it might result in regulatory issues. Learning how to update KYC in FASTag will save you from getting trapped in regulatory issues.
Inability to use FASTag Lanes: People with incomplete FASTag KYC might face issue in using FASTag lanes for making toll payments, leading to delays and other inconveniences.
To avoid getting stuck in any of the above issues, learn the steps of how to do FASTag KYC and get it done at the earliest. FASTag KYC not only helps you enjoy smooth travels but also helps in availing some amazing perks. Depending on your suitability, you can get the KYC done either through online or offline.