FASTag Bank Transfer- Switch to New Bank Online Easily

There was a recent ban by the RBI on some banks, and therefore, people who own vehicles hope to change their accounts to FASTag. Either because they are not satisfied with the services or because they have dormant tags, transferring to another bank is becoming easy and completely online. And here is what you have to know.

The FASTag system has transformed the way tolls are paid in India as vehicles no longer have to make a halt at the toll plaza. However, recently, the Reserve Bank of India barred some banks from processing the payment FASTag, thousands of valid users have now been seeking ways how they can migrate their FASTag account to another bank.

This is why it is happening, and here is the step-by-step procedure to transfer your FASTag to another bank completely online.

Why Are Users Transferring FASTag to Another Bank?

1. Ban on Payment Banks by RBI

RBI at times freezes banks or payment providers that fail to adhere to its regulatory norms. When your FASTag is connected with such a bank, it can become non-functional.

2. Dormant FASTag accounts

FASTag wallets that have less than or no balance may be automatically deactivated, or those that have not been used after some time may be automatically deactivated. The re-activation can be so tricky that a user will be motivated to get a new provider.

3. Improved Service and Deals

Other users change their banks only in order to get a better interface of the mobile app, more recharging opportunities, cashback, or quicker customer support.

4. One Vehicle One FASTag

NHAI has ensured that each vehicle can only have one FASTag in active status. When you attempt to buy another, it will automatically deactivate any other tag you would have made a payment against.

How to Transfer FASTag to Another Bank Online

Transferring your FASTag account is now easier than ever, thanks to digitization. Here’s how:

Step 1: Go to the official site of the bank that you are interested in switching to.

Step 2: Go to the FASTag page, either under ‘Product’ or ‘Services’.

Step 3: Enter the application form with registration of your vehicle, your name, and phone number.

Step 4: Attach the scanned documents, including RC copy, ID proof and passport-size photo.

Step 5: Pay a fee consisting of the issuance of tags, a security deposit, and a minimum recharge.

The FASTag will be associated with your vehicle and will usually be activated in 24-48 working hours. Make sure you don't deactivate your old tag prior to doing so.

Changing your FASTag provider may prevent the problems with the change of services and offer you even more advanced features as you do not need to visit a bank or even visit a toll booth.