Rapid advancement in every sector has made things more convenient for people. Not only things but various other systems, such as collecting taxes, online transfers, and purposes, are being accomplished in a less troublesome way. So, when discussing these inventions, we must also include the” “Fastag Transfer.”” We should understand what Fastag is and its associated factors to know more.
Fastag is a Radio frequency identification technology introduced by the Government of India in October 2017 by the Ministry of Road Transport and Highway. So, the main work or purpose of Fastag is making toll payments directly from prepaid linked to it. It is valid for five years from its purchase, and then we need to recharge it. It provides a non-stop movement of vehicles from one highway to another, thus eliminating the troubles caused at the toll plazas. It provides the ease of cashless payment of toll fees with nationwide interoperable electronic toll collection.
Now, with the invention of Fastag, some excellent benefits are linked to it. Firstly, it saves fuel and time. So, in Fastag, the tag reader is ready and automatically deducts the toll amount. Thus, the vehicle doesn’t need to stop at the toll gate. Secondly, the SMS alert for transactions made. This states that the vehicle owner or the driver, whose account is linked with the Fastag, will receive an SMS on deductions made at the toll plaza. Thirdly, digital or online recharge ensures the customer can top up or recharge his Fastag account with credit/debit/ NEFT/RTGS/ Net banking through any means. Then, it avoids using cash and web portals, especially for customers, where they can get their statements by logging into the customer Fastag portal. Other than this, certain social and environmental benefits are associated with it, like reduced paper use, reduced air pollution, etc.
Now that we know about Fastag, we should see how Fastag can be transferred and some other related questions. It should be noted that one cannot transfer the Fastag account to the other party, which is the owner. If the customer is not going to use the vehicle anymore or is thinking of it, they have to close the Fastag account; if they wish to stop using Fastag, they can also call 1800-120-4210. So, there are still some other queries about the transfer system, like how to transfer the Fastag balance money to a bank account. The second may be changing a Fastag account from one bank to another and many more. As these are valid, they are discussed below.
How do you change a Fastag account from one bank to another?
It is an easy process to change a FASTag account from one bank to another, and you need to follow the below-mentioned steps:
- If the customer’s Fastag is linked with the Paytm wallet, which is, in turn, connected with another bank, then they can change the bank account and recharge the wallet from the new bank account.
- However, if the customer’s Fastag is linked with the Paytm bank account, then by changing the bank, they also need to cancel the Paytm-linked Fastag.
How do I transfer the Fastag balance to their primary bank account?
These are the following steps that need to be followed to solve your above query:-
- The customer who needs to transfer their money from Fastag to the bank account first needs to log in at the Fastag portal with the help of the user ID or Wallet ID along with the password.
- The customer must select the payment option and click the pop-up tab.
- Then, select the respective wallet ID and fill in the recharge amount. One has to choose the payment mode and complete the payment process.
How do you change a Fastag Paytm to another bank account?
You can deactivate Paytm FASTag. However, you cannot reactivate the same FASTag again. Check the steps below;
Process to Cancel Paytm FASTag?
1. Login to the Paytm FASTag Portal. Enter the user ID, wallet ID, and password.
2. Now, the FASTag number, registered mobile number, and other details are required for verification.
3. Scroll down the page & click on the Help & Support option.
4. Now’ ‘Need Help With Non-Order Related Queries’?‘ Tap On.
5. After this, select the option Queries Related to Updating FASTag Profile.
6. Here, one has to select the option I Want to Close My FASTag and follow the further steps.
The process to Paytm FASTag Transfer to another
However, direct transfer is not possible for now. You need to contact a new FASTag issuer at your convenience, or where do you already have a savings/current account, purchase a new tag, and transfer your vehicle registration details?
FASTag cannot be transferred to the other party. You must ensure the FASTag you used for the vehicle is closed.
How to change Fastag’s mobile number?
To update the mobile number associated with your FASTag, you need to visit the issuer bank’s customer portal. Log in to your account, and go to the ‘Profile’ or ‘My Account’ section. From there, choose the option to update or edit your mobile number. Enter the new mobile number you want to update, upload the required documents, and click the ‘Submit’ button.
If our mobile number is linked with Paytm, then by following these simple steps, one can change their registered number:
- First, they need to download the Paytm app from the Play Store.
- Then, they need to log in to their accounts.
- The third step is to tap on the profile icon at the top left corner of the screen.
- The last step is to edit the profile. Scroll down, and finally, click on the updated phone number.
Transfer FASTag to another Paytm user
You can now transfer FASTag to another Paytm user by following the below-mentioned steps:
- Go to the FASTag section of the Paytm app.
- Select the FASTag to be transferred.
- Enter the mobile number of the user to whom you will transfer the FASTag account.
- Then, follow the instructions as shown on the screen, and your transfer process will be completed.
How to Transfer Fastag to Another Person
Fastag is specific to a particular vehicle, but if you are going to sell your vehicle and want to transfer FASTag to another person, you can close your FASTag account.
Here are the steps to close the FASTag account:
- Login to The FASTag Portal with your wallet ID and password
- Go to the service request section of the portal and click on generate a service request.
- Select Closure Request to close your FASTag account.
Most banks follow the same procedure in their portal, and thus, the steps will be identical for closing out the FASTag account.
Note: If you are using Paytm to transfer a FASTag account to another person, then you can follow the steps mentioned in “Transfer FASTag to another Paytm user” and get it done, as they have made it easy for their FASTag users.
How do you transfer money from a Fastag Wallet to a bank account?
It is not possible yet to transfer the money from the FASTag wallet to a bank account. Once you have recharged your FASTag wallet it can be used only to pay at toll plazas.
How do you Change the Chassis Number to the Vehicle Number in Fastag?
You can change the chassis number to the vehicle registration number by following the steps given below:
- Login to your FASTag portal with the help of the User wallet ID and password.
- Upload the scanned copies of the RC of the vehicle, and your details will be verified.
- After verification of details, your Vehicle Registration number will be updated.
You can also call the customer care of your bank, which has issued FASTag, and they will ask for copies of RC to be sent to the specified address. After that, your vehicle details will be verified, and the chassis number will be changed to the Vehicle number.
How do you change Fastag after selling a car?
As we know, FASTag is specific to a vehicle therefore, when you sell your car, you will have to close the FASTag account here are steps to close your FASTag account:
- Login to your FASTag account with your user wallet ID and password
- Generate a service request for the closure of your FASTag account, and your account will be closed.
How to Change Vehicle Class in Fastag?
There are a total of 7 classes of vehicles for the FASTag, but if you want to change the class of your vehicle. You can change your vehicle in FASTag by contacting your bank’s customer support. You can also write an email to a particular bank FASTag handler, and they will help you change the vehicle class of your FASTag account.
How to Change Email?
Every bank has its process for changing email addresses. If you have a FASTag in Paytm you can follow the following steps:
Visit Paytm.com website
- Login to your account using your registered details
- Go to ‘View profile’ at the top right corner of the screen.
- You can click o” “Edit Profile”
- If you are adding email for the first time, enter your e-mail email IDe-emails and “click Save’.’
- In case you are changing your e-mail email address, replace the excise-email email address and click on save after entering the email.
- The Email OTP method enables you to authenticate using the one-time password (OTP) that is sent to the registered email address.
- Verify E-mail.
How to Change Fastag Owner?
You cannot change the Fastag owner. When you are going to sell your vehicle, you should close your FASTag account as it is linked with your bank or Paytm account, and the new owner could take advantage of this thing and use your balance.
Comparing FASTag Providers in India: Fees, Issuing Process, and Benefits
| Bank Name | FASTag Portal | Issuing Fee (INR) |
|---|---|---|
| ICICI Bank | ICICI Bank FASTag | 99 |
| Axis Bank | Axis Bank FASTag | 100 |
| HDFC Bank | HDFC Bank FASTag | 100 |
| State Bank of India (SBI) | SBI FASTag | 100 |
| Paytm Payments Bank | Paytm FASTag | 100 |
| Airtel Payments Bank | Airtel FASTag | 100 |
| IDFC First Bank | IDFC First Bank FASTag | 100 |
| Kotak Mahindra Bank | Kotak FASTag | 100 |
| Punjab National Bank (PNB) | PNB FASTag | 100 |
| Bank of Baroda | Bank of Baroda FASTag | 100 |
| Canara Bank | Canara Bank FASTag | 100 |
| Federal Bank | Federal Bank FASTag | 100 |
| South Indian Bank | South Indian Bank FASTag | 100 |
| Yes Bank | Yes Bank FASTag | 100 |
Conclusion
Apart from this, there are some frequently asked questions (FAQs), like how can I close my Fastag account? Then, they also asked how I changed the bank details of my Fastag, which is linked with my Paytm. Documents required for opening a Fastag account. Then, I learned how to check my Fastag status online and several others. Now, many banks are coming up with their Fastags and links, such as ICICI, HDFC, SBI, Federal Bank, etc. One needs to follow the required steps, which are mentioned by the banks under whom their Fastag is registered. Technology and digitalization have made work simple, but one needs to care as much as possible. With the origination of anything, there is a bane as well as a boon. So proper precautions must be taken before doing anything.
The official way to obtain a FASTag is to apply through your bank or digital payment applications such as PAYTM. The procedure is uploading your car number and evidence of registered owner ID online. After that, after payment is received, the tag will be shipped to the specified address.
The easiest approach to acquire your tag quickly is to go to a local toll booth. Most banks and digital payment providers have set up temporary kiosks where workers are assigned to sell the tags. The representative will want car information, such as the registration certificate and evidence of ownership. If the car is registered to a corporation, the user may also give his or her ID.
Fastag Tag may also be obtained from any national Toll Plaza in India. Here is a list of India’s national highways. You may obtain a Fastag card for your vehicle for free by visiting the Toll Plaza office. There are also special offers available with ICICI Bank FASTag! The Ministry of Road Transportation and Highways has ordered that all cars be FAST-equipped starting January 1, 2021.
Registration Certificate (RC) of the vehicle
Passport-size photo of the vehicle owner
KYC documents (PAN Card/Driving License/Passport/Voter ID/Aadhaar Card (with address)).
If you’re not familiar with FASTag and how it worksnow’s’s the time to learn. According to the most recent government regulations, FASTag will be made mandatory for all cars in the nation beginning on February 16, 2021, failing which you will be required to pay double the toll price.
According to research by the Transport Corporation of India (TCI) and IIM Kolkata, transportation delays cost India around USD 6.6 billion per year. The government implemented the Electronic Toll Collection (ETC) to address this shortfall. Taking a lesson from this, the National Highways Programme stated that it will undergo extensive reorganization to improve the efficiency of the National HighwayGrid’s operation.
While one of the primary goals of FASTag technology is to maintain optimal traffic flow and reduce congestion at toll plazas, there are several other FASTag advantages.
Those who often utilize roads for commuting will no longer have to waste time looking for change at highway toll plazas.
It is a contactless payment method that prioritizes cleanliness and safety.
It decreases the amount of work necessary during human interactions, making the payment process more effective and efficient.
Because there is no idling at toll booths, there is seamless movement on national and state highways, which decreases automotive emissions and carbon footprint.
Long lineups might alleviate anxiety among drivers since vehicles will be traveling in sync with one another.
FASTag customers additionally receive a 2.5 percent payback on all transactions made at national toll plazas, resulting in even more savings.
The government intends to use FASTag as a multi-utility payment mechanism in places other than roads, such as parking lots. FASTag made it necessary to have third-party insurance in April 2020, which is the minimum insurance coverage required for all automobiles.
Furthermore, if you enter a FASTag lane without a FASTag, you will be charged double the toll amount. The same rule applies if your FASTag is inoperable due to RFID impairment or inadequate balance. Having a FASTag is thus a question of convenience as well as safety.
FASTag is valid for a minimum of five years, eliminating the need for yearly renewals. You can also receive SMS notifications on toll deductions and the balance of your FASTag account. Furthermore, HDFC Bank provides an online FASTag reloadable facility for low-cost recharges or top-ups.
Not having a FASTag installed in your car can be annoying, and it will be obligatory for all cars beginning in January 2021. So, buy a FASTag for your automobile and help the country achieve its digital goals.
According to the IHMCL, banks can charge up to Rs 200 for issuing the tag, including all taxes. A security deposit is also required, which is generally approximately Rs 200 for most automobiles (depending on the vehicle type).
The tag then requires a minimum recharge value, generally Rs 100, to remain active. Aside from that, different banks may impose an extra transaction fee for each recharge. It is recommended to look at the websites of banks or prepaid prepaid to discover how much they charge. Currently, the security deposit cannot be used to pay tolls. The establishment is debating whether this security deposit may also be used as a toll, but nothing has been decided. FASTag is valid indefinitely as long as the scanner can read the tag. FASTag is just for automobiles, not people.
FASTags have been implemented for toll collection at all 615 NHAI toll plazas and 100 state highway toll plazas. The number will steadily rise.
The FASTag mobile app (Android and iOS) may be linked to it. Each FASTag is assigned a unique number. Banks have their web-based systems in place. It works just like any other prepaid payment.
The highway marshals should ideally not allow you to enter a FASTag lane. However, if you find yourself in a FASTag lane, you must pay double the toll price. Even if your FASTag is not working due to RFID damage or a lack of balance, you will be charged double the toll amount. Policymakers are considering partnering with banks to create a system in which the user may pay cash, and the tag is recharged on the spot via a payment gateway (such as the Bharat Bill Payment System). However, this is still in the planning stages.
Ideally, yes, because the government has intended to make FASTag necessary for third-party insurance, which is a minimum insurance cover required for all automobiles, beginning in April of this year. Furthermore, to encourage usage, the government intends to incorporate FASTag for payments at highway rest stops, parking lots, and other locations. As a result, the tag is transformed into a multi-utility payment instrument.
A copy of your valid driver’s license (as evidence of address and picture ID), as well as the vehicle’s registration certificate. Banks demand KYC papers such as Aadhaar, passports, and PANs.
If you live within 10 kilometers of the toll plaza, you must provide evidence of residency to obtain a FASTag and benefit from the concession.
The NHAI’s all-India hotline number is 1033. When it comes to NHAI’s FASTags, complaint resolution is often quick. Customers who have FASTags issued by banks, on the other hand, are routed to the bank’s customer service, and concerns take longer to resolve.
To address this, the government is contemplating integrating the hotline in some way so that a complaint produces a “ticket,” which is then forwarded to the bank, and the issue is handled without the client having to track down the complaint. The majority of complaints include broken RFID, low balance, recharge inquiries, and technological issues such as deducting SMS arriving late, among other things.
