FASTag, a government-initiated program, works like a prepaid instrument for vehicles traveling on national highways. FASTag is a prepaid instrument that facilitates the toll collection system. Twenty-three banks have been assigned to issue the FASTag. Radio Frequency Identification technology allows users to pay tolls directly from their savings or prepaid accounts. This technology is currently operated by the Indian Highway Management Company Limited, a subsidiary of The National Highway Authority of India.
Toll plazas are the best place to buy a FASTag. To create their FASTag accounts, vehicle owners can visit any of the Point of Sale (POS) locations at toll stations/ issuer agencies. Many banks and digital payment providers have set up temporary booths that sell tags. The representative will need the details of the vehicle, including the registration certificate and proof of ownership. If a company has registered the automobile, the owner can provide their ID.
Documents Required to Get FASTag at Toll Plaza
To obtain a FASTag, any individual can visit any POS (Point-of-Sale) location at specific toll plazas and issuer agencies to apply for one. To get FASTag, you will need the following documents:
- Fully Filled FASTag application form
- The registration certificate for your vehicle
- Your driving license
- Your PAN card
- If a bank requests additional KYC documents
The documents required if you’re a corporate entity that needs a FASTag:
- The FASTag application form.
- Official proof of signing authority.
- PAN card for your company/corporate entity.
- Certificate of registration for your business.
- List of company directors, with their names and addresses
Each bank has a different list of documents that you must submit to get a FASTag Card.
What are the benefits of using FASTag?
The FASTag have many advantages for the for wheeler owners. The benefits of FASTag are listed below:
One of the best advantages by making FASTag compulsory is the tension of having an exact change at toll plazas. The transaction will be cashless and money will be automatically debited from your FASTag wallets.
Mobile Alerts through SMS
Whenever you will pass through any toll plaza, you will receive sms alerts on your registered mobile numbers when money will be deducted from FASTag. You will also receive alerts for low balance in your FASTag wallet.
This is one of the best advantages of having FASTag. You can recharge it anytime using debit cards, net banking and UPI.
Faster Moving on Highway
Thus it also reduces the travelling time from one place to another as it will reduce human intervention saving your precious time.
For promoting FASTag government is providing very good cashback offers for the users. Currently they are providing 2.5% cashback for every transaction through FASTag wallet.