How And Why Individuals Transfer Their FASTag Account To Another Bank?

FASTag employs RFID technology for automated toll payments that allow effortless travel on Indian highways. If individuals need to close their FASTag account and apply for a new FASTAG with another bank—such as banks by the RBI, better service and BONUS offers, or sale of vehicle—then they must deactivate their FASTag account with the previous bank and apply for a new account.

This article will review why users choose to switch to FASTag, an outline of the process to apply online, required documents, and how to avoid the pitfalls for a successful, smooth transition.

Why Do Individuals Transfer Their FASTag Account?

Individuals sometimes change the FASTag issuer bank because of compliance issues, various superior service offerings, or due to previous general norms:

(i) If the bank has been banned by the RBI for non-compliance, that payment bank cannot issue a FASTag, and thus that FASTag will be void; and users/users will have to deactivate and reapply for a FASTag with an authorised bank.

(ii) When an individual applies for a new FASTag because of the compliance with the issuing bank, under the "one FASTag per vehicle" rule, only the latest activated FASTag remains active and operational for that particular vehicle, and all other FASTags must be deactivated; and

(iii) because, depending on the banks, it may provide lower fees, allow cashback, enable auto-recharge features, and provide better customer service and satisfaction, warranting a switch.

Also Read: The Future Of Toll Payments: Insights On The New FASTag Rules

Documents To Be Collected For Transfer

You will need to collect the following documents for your successful transfer:

• The Registration Certificate (RC) for your vehicle.

• Proof of your identity and address—AADHAAR, PAN, licence.

• Recent passport-size photograph (if applicable).

• FASTag closure confirmation or reference from the previous bank.

Also Read: Five-Year-Old FASTags To Be Replaced, Re-KYC Needed After 3 Years

Ways to Ensure A smooth FASTag Transfer.

You won't experience any disruption in transactions, and I hope these tips help secure your funds:

• Be sure to either use the issued old balance or request a refund on the old balance before closing the FASTag.

• Be vigilant; there are guidelines against having multiple active tags on the same vehicle. You are allowed only one tag per vehicle.

• Be certain you have validly registered to KYC standards: you could experience a delay in activation if you fail to do so.

• Be sure to transfer FASTag well ahead of any travel plans, to allow time for the tag to arrive and for the tag to be linked.